Swiss Re has collaborated with composite insurer Income Insurance to launch a cancer insurance product in Singapore.

Called Complete Cancer Care, the new product is designed to offer continuous care and financial support to those diagnosed with cancer.

Swiss Re said that the product will offer a “guaranteed” post-cancer coverage alternative for customers without requiring a prerequisite health assessment, even after a cancer diagnosis.

In addition to standard options, which mostly centre around lump sum payments after diagnosis, the solution focuses on providing support for cancer patients who are receiving treatment with monthly payouts and a premium waiver benefit.

Furthermore, Complete Cancer Care provides a hospice care benefit to assist patients receiving palliative care.

The product supports an entry age of up to 74 years old, with coverage to a maximum age of 84 years old to cater to Singapore’s ageing population.

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Swiss Re head of life and health reinsurance APAC ex China Daisy Ning said: “The launch of Complete Cancer Care demonstrates our dedication to supporting policyholders in their time of need by enabling our partners as they innovate and adapt to evolving customer needs.

“We are committed to helping insurers tailor comprehensive insurance solutions that proactively address the health concerns of individuals facing cancer.”

Income Insurance chief customer officer Income Dhiren Amin said: “To allay some fears so that they can focus on treatment, we are pleased to partner with a like-minded company, Swiss Re, to offer a holistic cancer proposition that provides complete care, from cancer diagnosis to recovery.

“Being the first in Singapore with a guaranteed post-cancer cover option, we hope to build our customers’ resilience to recover and live the fulfilling life they wanted, when their treatment is over.”

Earlier this month, Swiss Re reported a ninefold increase in H1 net income to $1.4bn.