Discussion of Reducing the Risk of Cancer in Life and Health Insurance

Abstract

The dynamics of the increase in illnesses, including oncological diseases, causes a different view on the scope of insurance protection offered by insurance companies. The way to limit the risks inherent in life insurance should not just be to add inclusions to offers. It is possible for insurance companies to focus on other activities that may not only reduce the consequences of liability for specific risks but also improve the offer and product sales. The purpose of the chapter is to demonstrate the increasing risk of cancer in life insurance and its consequences. The study contains not only to analyse examples of designs of health insurance products with the option of insurance against cancer, the so-called “cancer cover type health insurance”, but also to demonstrate the benefits of supplementing insurance products with additional elements to reduce the potential effects of negative events. Presentation of the experiences of one country (Poland) in this respect should become the opening for a debate on the form of offers constructed by insurance companies in different countries, which could be beneficial for economic and social security of the insured.