We understand that being told that you have a cancer is a scary experience, that makes you stop and think about what the future may hold. For some, it makes them think about insurance, and putting measures in place to make sure that loved ones are financially secure if the worst happens. This is where we step in to help you.
Things we need to know:
Life Insurance after you have had cancer is often possible once you have finished treatment and are free of cancer. The insurer that you approach will want to know where the cancer presented itself, the type of cancer and staging/grading that you were diagnosed with, the type of treatment that you underwent and the time since your treatment ended.
Cancer can vary largely in severity, so providing accurate price guidelines to cover the whole condition can be difficult. That being said certain cancers such as basal-cell carcinomas usually cause little concern for insurance providers and are often accepted at normal terms. On the other end of the scale if the cancer has been serious, had lymph node involvement or been particularly aggressive, then prices can be much higher than those with lower severity cancers. If cancer is very recent then many insurance providers will ask you to wait for a set number of years before cover can be offered. There are however specialist insurers that you can get Life Insurance from, if your cancer happened recently.
Please use the links below to access pages specifically focused upon the cancer that you had and the potential ratings that you are looking at.
If you are over the age of 50 and do not want to provide information about your cancer then you may be eligible for Guaranteed Life Cover, with no medical questions. This works well for some people but it is normally worth checking out normal Life Insurance first, as you may get a lower premium and/or higher level of cover.
Critical Illness Cover after cancer, if available, will generally come with special terms. Depending upon the severity of the cancer that you had, and the time since you recovered, your Critical Illness application will include an increased premium, cancer exclusion, be postponed or in the worst case be declined. Some very low staging/grading cancers, such as basal-cell carcinoma, can be offered standard terms but this is assessed on a case by case basis. Regardless of the severity of your cancer, the insurer will want to see a report from GP in order to establish your full medical history before they offer policy terms.
Income Protection after cancer can be difficult to arrange, but may be possible if you approach the correct insurer for your circumstances. In certain circumstances it is possible to secure standard terms for Income Protection following cancer, but this will only be available once you have been free of cancer for a number of years, and will depend on the severity of the condition.
If you are happy to have an Income Protection policy with an exclusion for anything related to your cancer then you may be able secure a policy much sooner. If not for a full Income Protection policy, then at least for a short term Accident, Sickness and Unemployment plan which have little to no medical questions.
Are you going on holiday? We work alongside a specialist travel insurance broker who can help you choose the right insurance for you. To find out more about arranging travel insurance when you've had cancer, please click here.
What is Cancer
Cancer is one of the most common life changing illnesses experienced by individuals today. Cancer can affect almost any part of the body and in so many circumstances can leave physical, mental and emotional scars to the sufferer. This page provides an overview of how cancer can affect certain insurance policies; including malignant tumours and carcinomas amongst others.
The Special Risks Bureau regularly arrange Life Insurance, Life and Critical Illness Cover and Income Protection application requests for the following cancers:
Further Reading and Research
By clicking on the link(s) above you will be departing from the regulatory site of Special Risks Bureau. The Special Risks Bureau (Cura Financial Services) is not responsible for the accuracy of the information contained within the linked site(s).
1. I have cancer and I want Life Insurance. Can you help me?
Yes. But you must understand the limits of the Life Insurance policies that you can have. Because you currently have cancer, you will not be able to get Life Insurance with standard insurers. There are some specialist Life Insurance policies that we can look at, but you must be fully aware that they will not pay out a claim if you were to die from cancer.
2. I've just been declined Life Insurance and I'm assuming it's because I had breast cancer 2 years ago. Is this normal?
It depends on who you speak to. Some insurers on the standard market will be able to consider your application, and others will refuse life insurance. Without knowing more about the staging and grading of your cancer, the treatments you took and when they finished, we cannot say for certain if you would be able to get Life Insurance on the standard market, or if you would need to go to a specialist insurer.
3. I had cancer five years ago, I've tried to arrange Life Insurance, but they are saying I have to pay a higher premium than what the comparison sites are showing. Who is right? Which one is telling the truth?
When it comes to cancer and insurance, 5 years isn't seen as a long time since diagnosis. Insurers are interested in when you last stopped treatment and were given the all clear, and we would assume that is probably 4 to 4 1/2 years ago for you, so even less time. Cancer scares insurers as they think that you are at a higher risk of dying sooner, than someone who doesn't have it; over a quarter of the deaths in the UK are due to cancer. So the insurer increases the premiums for Life Insurance to offset the added risk. But if your cancer was a low severity and a long time ago, you may get Life Insurance at normal terms.
The Special Risks Bureau has been rated 4.9 out of 5 based on 199 reviews.
Review by Dean on 13th October 2017
“I had a cancer diagnosis a few years ago. After being declined online I approached cura to help. They took their time to understand my situation and asked very relevant questions about my condition. They gave me 2 options, 1 to pay a higher price and 1 to have my condition excluded for a lower price something I was told elsewhere could not be done. They've agreed to review this in the future too so I can hopefully get a better offer.” - 5
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