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Transamerica Teams with Armstrong Foundation

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A life insurer and foundation have joined forces to offer group insurance policies to help fight cancer.

Transamerica Life Insurance Co., San Francisco, and the Lance Armstrong Foundation, Austin, Tex., unveiled the TransamericaLivingStrong SurvivorPlan group cancer-only and group critical illness policies. The employee benefits combine insurance coverage with one-on-one support and other resources from the LiveStrong SurvivorCare program of the Lance Armstrong Foundation.

With the global costs of new cancer cases exceeding $300 billion in 2009, the collaboration will help make LiveStrong practical support services more readily accessible to those who need them, according to Transamerica.

The SurvivorPlan products provide coverage for ancillary costs associated with cancer care, including loss of income, travel for treatment, experimental treatment, and spousal and other dependent care, says Transamerica. Both the cancer-only and critical illness plans also provide policyholders with the optional benefit of a comprehensive blood screening profile each year at no out-of-pocket cost.

When SurvivorPlan certificate holders file a cancer claim, they will receive a letter explaining the additional resources available to them including the LiveStrong Guidebook, which provides information and worksheets to help survivors organize, plan and track their cancer experience from the moment of diagnosis, during cancer treatment and after treatment.