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This doesn’t always mean you won’t be able to get life insurance. But the insurer may require more detail about your medical history, and will carefully assess your application.
Why is cancer a risk factor for life insurance?
According to Cancer Research UK statistics, there are more than 1,000 new cancer cases in the UK every day. Thankfully, thanks to medical advances, survival rates are improving, and many people go on to live full lives after a cancer diagnosis.
However, cancer can still pose a higher risk to life insurance companies, depending on the type and stage, and how recently it was diagnosed. Some cancers are more aggressive or have higher chances of returning, which may increase the likelihood of an earlier claim on a policy.
How do insurers assess cancer-related risk?
When you apply for life insurance and declare a history of cancer, insurers will usually ask for more information. They may want to know:
The type of cancer you had (or have).
The stage and grade at diagnosis.
The date of diagnosis and treatment.
The treatment received (e.g. surgery, chemotherapy, radiotherapy).
Whether you’ve had any recurrences.
How long you’ve been in remission.
In many cases, insurers will request a report from your GP or specialist to get a fuller understanding of your medical history.
Some insurers may postpone making a decision about whether to offer you insurance until a certain period of time has passed since treatment finished. This is known as a ‘deferment period’. This period varies based on the type and severity of the cancer.
How do insurers respond to an applicant’s history of cancer?
When assessing an application for life cover, insurers’ responses can vary widely depending on individual circumstances:
Mild or early-stage cancers (like some skin cancers) that were treated several years ago may not result in any additional cost or restrictions.
More serious or recent diagnoses may lead to higher premiums, special exclusions, or in some cases, a temporary decline until more time has passed.
Some insurers may be more willing than others to offer cover to people with a history of cancer. That’s why it may be worth shopping around for insurance.
What are cancer-related exclusions?
Depending on your situation, a life insurance policy might include exclusions related to cancer. This means the policy would not pay out if death is caused by a recurrence of the same cancer or a related condition. Always check the policy wording carefully and ask the insurer or your broker/adviser if you’re unsure.
The importance of ‘full disclosure’
When applying for life insurance, it’s essential to be open and honest about your medical history, including any diagnosis of cancer. Even if the diagnosis was years ago or considered minor, it’s still important to declare it.
Life insurers may check medical records when a claim is made. If they find that information was withheld or was incorrect, they could refuse to pay out. Full disclosure helps ensure your policy is valid and your loved ones are protected.