Life insurance after cancer

Yes, it may still be possible to get life insurance after surviving cancer.

If you've had any form of cancer in the past, insurers will regard it as a pre-existing medical condition, meaning each application would need to be considered on a case-by-case basis.

With over 200 types of cancer now prevalent in society, it’s predicted that one in two people will develop some form of cancer in their lifetime^[1].

This highlights the growing need to financially protect your loved ones should the worst happen.

However, many question whether they can secure cover after a cancer diagnosis.

Thankfully there are multiple insurers, including those available through Reassured, who could offer life insurance to those who’ve previously had some forms of cancer.

Using an insurance broker with specialised staff, such as our impaired life insurance team, could help you to get some form of cover. Simply contact us today.

Yes, you’ll need to disclose a previous cancer diagnosis during the application process.

Insurers require this information so they can accurately assess the level of risk you pose and offer the most appropriate policy options.

Failure to provide this information is known as non-disclosure and it can prevent a pay out from being made to your loved ones.

The exception to this is with an over 50s plan as you won’t be obligated to disclose any medical information with this policy type.

If you already have life insurance in place and are diagnosed with cancer during the term, you aren’t obligated to inform your insurer.

Providing all the information when completing the application was correct, your new diagnosis won’t impact your current policy.

The cost of life insurance premiums after cancer can be affected by a number of factors.

You’ll need to provide both standard information and details about your cancer diagnosis.

Your personal details include:

Information about your diagnosis includes:

The type and stage of your cancer, as well as the treatment you've received, will have a significant effect on your premium. This is to account for the likelihood of cancer returning.

The sooner you apply for life insurance after the specified recovery period, the higher your monthly life insurance premium is likely to be.

This is because the chance of recurrence reduces over time and, therefore, you become less of a risk to the insurer.

It's highly likely that your insurer will want to obtain information from your consultant, as well as have you undergo a medical, prior to calculating your premium.

Reassured can find cover for cancer survivors by comparing quotes from a panel of mainstream providers and smaller specialists (through our advised team).

Our friendly team can then walk you through the whole application process.

We can also provide the below calculator to help you determine how much life insurance you may need.

Yes, it could be possible to secure life insurance as a breast cancer survivor.

Breast cancer is the most common form of cancer among women in the UK^[2]. In rare cases, men can also be diagnosed with breast cancer.

You may experience loaded (higher) premiums due to the increased risk, or your application may be postponed until a recovery period has been reached. In some cases, you may be declined life insurance.

Yes, it could be possible to secure life insurance if you’re a survivor of skin cancer.

Melanoma is the fifth most common cancer in the UK, with around 15,400 people being diagnosed with the condition each year.

As with many other cancers, the risk of being diagnosed with skin cancer increases as you get older^[4].

Just like breast and prostate cancer, if you’ve been diagnosed with skin cancer prior to securing life insurance, insurers will need to know certain information about your condition.

This includes when you were diagnosed, what stage the cancer was at, what treatment you received and when you last had treatment.

Premiums may be increased due to the higher risk you pose to the insurer, or your application may be postponed until a specified recovery period has been reached.

Insurers may also want to contact your GP or consultant or may ask you to undergo a medical exam to get a better understanding of your condition.

Your policy won't be affected, providing you were honest during the application.

If you fully disclosed all the required information about your medical wellbeing and family history in the application process, your existing life insurance won’t be affected and the pay out will be honoured by the insurer.

Certain cover options will provide you with a pay out if you're diagnosed with cancer during the term of your policy. Typically, this in the form of:

• Critical illness cover - Can be added to term-based cover for an additional cost
• Terminal illness cover - Included with all term-based cover

Being diagnosed with cancer doesn't affect your special event option

A special event (or guaranteed insurability) option allows you to increase your level of cover without the need for additional underwriting. It’s included in some policies, or it may be added as an optional benefit at the point of purchase which incurs an additional cost.

If your policy includes the special event option, it can be used for life changing events such as having a baby, moving house or getting married.

Even if you're diagnosed with cancer, you still have this option available to you and can increase your level of cover in the instance of a specified special event occurring. However, being diagnosed with cancer would not be classed as an event which would allow you to amend your policy.

Whether a life insurance pay out will be made for cancer will depend on whether you were diagnosed before or after your application.

Being diagnosed when your life insurance is already in place doesn't affect the terms of your policy, and a pay out will be made to your loved ones as it would with any other cause of death.

Similarly, if you have terminal illness cover or critical illness cover in place you should be able to make a claim.

[1] https://www.nhs.uk/conditions/cancer/

[2] https://www.nhs.uk/conditions/breast-cancer-in-women/what-is-breast-cancer-in-women/

[3] https://prostatecanceruk.org/prostate-information/about-prostate-cancer

[4] https://www.royalmarsden.nhs.uk/information-gps/gp-resources/skin-cancer/skin-cancer-incidence-and-risk-factors