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Life Insurance for someone who has had cancer

Author

Becky Simmonds,
15 April 2021

Reading time: 5 minutes

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Many of us know someone who has had cancer, and according to Cancer Research UK, every two minutes someone in the UK is diagnosed with cancer. But what does this mean when it comes to Life Insurance?

Unfortunately, cancer is one of the illnesses that can have a significant impact on both the availability and cost of Life Insurance.

Can you still get Life Insurance after cancer?

Because each case is individual there isn't a straight yes or no answer. If you've suffered from cancer in the past, insurers usually regard this as a pre-existing medical condition. This means that they will take this into consideration, along with any other medical disclosures, when they are looking to offer cover.

Most insurers generally don't offer cover to someone who's still undergoing cancer treatment and won't approve an application until a specified recovery period has passed. This can be 2-3 years after you have fully recovered but it can be longer depending on the insurer.

If you have had or are living with cancer and you want to buy Life Insurance , you will usually be expected to provide some key information. This will usually cover:

  • The Time since recovery
  • Type of cancer
  • The grading and staging
  • What type of treatment you had, how long this lasted for and if it was successful
  • Your medical history

What if someone in my family has had cancer?

Your family history can affect the cost of your monthly premiums and policy. This is because some types of cancer can be hereditary, so if a close relative has previously been diagnosed before a certain age, then it could increase the cost of your premium.

However, despite this, you should still disclose all information about your family's medical history during the application. Leaving out information could lead to the denial of a pay-out.

What if I get cancer during my policy?

If you already have a Life Insurance policy before you were diagnosed the insurance company should honour it as normal. Your policy shouldn't be affected as long as you're honest during the application.

If you have been diagnosed, survived, or have a family history of cancer, then speaking to a Life Insurance consultant can help you understand the options available to you. Click here to get a free Life Insurance quote and talk with an expert.

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