AIG Employee Benefit Solutions(R) has partnered with the Lance Armstrong Foundation to launch the LIVESTRONG(TM) SurvivorPlan, a supplemental insurance policy to connect participants to cancer prevention resources and, in the event of a diagnosis, treatment.

Participants will receive $100 per year for early detection screenings. The policy also covers typical costs incurred when treating cancer, such as radiation and chemotherapy treatments, nursing services and hospice care, bone marrow transplants, second surgical opinions and National Cancer Institute consultations, among others.

"While most health insurance can cover the direct costs of a cancer diagnosis, out-of-pocket costs and other expenses place a tremendous financial burden on cancer survivors and their families," said John Penko, senior vice president of sales, AIG Employee Benefit Solutions. According to the American Cancer Society, 63 percent of cancer costs come from lost wages, deductibles, coinsurance, travel expenses to and from treatment centers, lodging, meals and child care.