Southern Cross has revealed a new Cancer Assist product add-on.

It gives members a one-off tax-free payment option ranging from $20,000 to $300,000, paid when they are diagnosed with a qualifying cancer.

This is on top of their health insurance policy and can be spent on whatever they want, whether that is non-Pharmac treatment, paying off the mortgage or travelling.

Head of marketing Chris Watney said recent research carried out by the society revealed cancer was the biggest health concern among its members.

Younger people were likely to be concerned about a cancer diagnosis.

“With 23,000 new cases registered in New Zealand each year it often feels like we all know someone affected by cancer. In the last couple of years, we’ve seen an increase in people with cancer looking to access new therapies, which can mean making big decisions like mortgaging their home. It’s important we address this while also giving people options about what they want to spend money on after a cancer diagnosis.

“We’ve also been careful to keep the cost of Cancer Assist premiums at an affordable and accessible level for individuals and families. For example Cancer Assist costs from just 43 cents a week for children, or from $1.15 per week for a 30-year-old female non-smoker based on $50,000 of cover,” he said.