Sanlam : How to Compare Cancer Benefits

One means of comparison is to compare the percentage of the cover amount paid for different severity levels of cancer. Insurers disclose their payout percentages under the ASISA SCIDEP* disclosure grid for cancers covered by the SCIDEP definitions.

The better benefits tailor the percentage payout not only to the severity (stage) of the cancer, but also its likely impact on a person's lifestyle. For example, Sanlam's Cancer Benefit pays 100% for certain aggressive cancers in their early stages, even if the more affordable benefit option is selected. For other insurers, selecting a more affordable option usually results in smaller payouts for lesser severity cancers - even for aggressive cancers like liver cancer where the prognosis is typically poor and the impact on the lifestyle is severe.

To avoid having very long lists of specific types of cancers that are covered, while still giving the client peace of mind, some insurers include a catch-all claim event. When a cancer benefit provides cover for a catch-all claim event, cover is typically extended to cancers that may not be specifically listed as a claim event but are severe enough to affect your quality of life. The guidelines used to determine the level of severity when assessing a claim under the catch-all claim event will be disclosed in the policy documents.

The more comprehensive benefits include cover for additional cancer events that are not included in the SCIDEP cancer definitions. Examples include those that offer cover for certain early cancers. Your intermediary can help you dive deeper into comparing other non-SCIDEP cancer events, as these can get technical.