{"id":70758,"date":"2020-05-08T12:13:36","date_gmt":"2020-05-08T12:13:36","guid":{"rendered":"http:\/\/www.badcreditloans4u.co.uk\/?p=103"},"modified":"2020-05-08T12:13:36","modified_gmt":"2020-05-08T12:13:36","slug":"life-insurance-for-cancer-patients","status":"publish","type":"post","link":"https:\/\/everyonefinance.uk\/blog\/2020\/05\/08\/life-insurance-for-cancer-patients\/","title":{"rendered":"Life Insurance for Cancer Patients"},"content":{"rendered":"

Life Insurance for Cancer Patients<\/strong><\/h1>\n

 <\/strong><\/p>\n

With the number of cancer patients in the UK set to increase to 4 million by 2030, life insurance has become more prevalent. In the past, it was almost impossible to secure life cover if a person previously had cancer. But, insurers have been reviewing their policies time and again to cater to this growing segment of UK\u2019s population. For those who\u2019ve successfully beaten this life-long disease, insurers provide a golden opportunity. It\u2019s very much possible for cancer patients to get a life insurance policy.<\/p>\n

Is Life Insurance Available For Cancer Patients?<\/strong><\/h3>\n

To confirm the fact, yes, insurers do offer policies even if you\u2019re a cancer survivor. That means, if you\u2019ve don\u2019t suffer from cancer any longer, you can insure your life. There are 4 key factors that an insurer will consider:<\/p>\n

    \n
  • Type of cancer (insurer can obtain information from your GP)<\/li>\n
  • Treatment undergone, for how long and whether it was successful<\/li>\n
  • Stage\/grade of cancer<\/li>\n
  • Time elapsed since recovery<\/li>\n<\/ul>\n

    The time since your recovery influences your chances of approval. Every insurer has a recovery period, for some 2-3 years or for others 5-10 years, after which only they consider a policy request. In some cases, therefore, your application may be denied or postponed till a later date. It\u2019s essential to shop around for a suitable cover.<\/p>\n

    What Affects Cost Of Premiums?<\/strong><\/h3>\n

    Let\u2019s suppose you beat cancer in 2015 and apply for life insurance in 2017. Then, your premiums are likely to be higher as there\u2019s a greater chancer of a recurrence of cancer. Therefore, the more you delay your policy application, the lesser will be the cost of insurance. The type of cancer and the treatment taken also affect premiums for the likelihood of the disease returning. In almost every case, the insurer will tell you to undergo a full medical examination prior to giving a formal quote.<\/p>\n

    How Is a Policy Add-On Affected If I\u2019ve Had Cancer?<\/strong><\/h3>\n

    Some life policies have a critical illness add-on for specific illnesses outlined in their policy.If you contract one of those illnesses, you\u2019ll get an early pay out. The picture looks a bit different for cancer survivors. As cancer is of a recurring nature, a new policy may state it as excluded. This means you can\u2019t claim even if cancer rears its head. As opposed to this, if you still want cover, you can get it albeit at a higher premium.<\/p>\n

    How Is It With Terminal Cancer?<\/strong><\/h3>\n

    Due to the nature of cancer, chances of getting conventional term life insurance are as low as nil. Yet, there are other options like an over 50s life insurance policy that doesn\u2019t require a medical. You are under no obligation to disclose whether you have or had cancer. The only condition applicable here is your life expectancy. If you\u2019re likely to live beyond a minimum of 1 or 2 years qualifying period, life cover is easily procurable. Many policyholders are diagnosed with cancer during the term of their policy. It doesn\u2019t alter the benefits of a life policy providing you\u2019ve been open and honest at the time of application. In such a scenario, if they are eligible for a terminal illness benefit, an early payout could fund home modifications, a full-time care-giver or payment of outstanding debts.<\/p>\n

    What If Cancer Is Present In My Family History?<\/strong><\/h3>\n

    Although it\u2019s said that cancer is not a hereditary disease, some types may pass on from one generation to the other. If a blood relation (mother, father, sibling) had\/has cancer before the age of 65, it\u2019s highly likely to up the premium you\u2019ll pay. We suggest you don\u2019t let this deter you from being open and honest about the facts. Non-disclosure ultimately leads to denial of a payout or total invalidation of your life insurance policy.<\/p>\n

    Can I Take Out a Policy When I\u2019m Unsure Whether I Have Cancer?<\/strong><\/h3>\n

    Once you identify with the symptoms and suspect that you have cancer, you should get a diagnosis as soon as possible. Fearing the worst, you might be tempted to take life cover in haste and before you\u2019re sure of the illness. Unfortunately, this talk with your GP has to be disclosed for the application to be valid. Insurers will mostly wait till the diagnosis results are out and then make an offer.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Life Insurance for Cancer Patients   With the number of cancer patients in the UK set to increase to 4 million by 2030, life insurance has become more prevalent. In the past, it was almost impossible to secure life cover if a person previously had cancer. But, insurers have been reviewing their policies time and […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-70758","post","type-post","status-publish","format-standard","hentry","category-life-insurance","entry"],"_links":{"self":[{"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/posts\/70758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/comments?post=70758"}],"version-history":[{"count":0,"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/posts\/70758\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/media?parent=70758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/categories?post=70758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyonefinance.uk\/blog\/wp-json\/wp\/v2\/tags?post=70758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}