Cancer
The term Cancer covers a multitude of conditions from relatively minor skin growths to aggressive terminal cancers. Each individual will have specific circumstances and life insurance providers will want to gather as much information as possible before making a decision. In all cases, this will most probably including questionnaires, GP’s and consultant’s reports to ascertain; a) when the cancer occurred, b) the type of tumour it is, c) how far advanced the cancer is, d) what treatment is/was received, and e) what the current situation is.
Lung Cancer - Cancers of the lungs are some of the most aggressive of all cancers. 5-year survival rates are as low as 6% and this makes it extremely difficult to arrange life insurance for anyone who has ever been diagnosed.
Likely life insurance underwriting decisions.
A client would usually have to be given the all clear from the cancer for at least 5 years before any insurance company will consider it, and even then, premiums are likely to be high. Check with a LifeSearch adviser as to whether cover can be arranged.
Breast Cancer - This is the most common cancer affecting women in the UK, with over 40,000 new cases being diagnosed each year. There have been tremendous diagnostic and treatment advances over the last few years. 5 years survival rates compare favourably with other cancers, at over 70%, and rising. Check with a LifeSearch adviser as to whether cover can be arranged.
Better treatment, the varied types of breast cancers, the ‘staging system’ (0 –4, 4 being the most serious) and the individual life insurance provider attitudes all add to complicate the underwriting process.
Likely life insurance underwriting decisions.
Stage 1 – Likely to be accepted soon after treatment, but also likely to incur a higher premium.
Stage I or 2 – Decision deferred for 1 to 5 years after treatment, then only with higher temporary premiums. Premiums are likely to reduce from year 6 to 10 after treatment, to near normal.
Stage 3 – Decision deferred for 5 years after treatment, then only with even higher, temporary premiums.
Stage 4 – Likely to be declined. Check with a LifeSearch adviser as to whether cover can be arranged.
There are also some other factors to consider.
Critical Illness – At best approved with high premiums. At worst, usually declined if there is any history of breast cancer.
Family history – Usually restricted to close relatives (such as parents and siblings).
Skin Cancer - Malignant melanoma is a tumour of the cells that produce melanin, the pigment that colours the skin, the hair and the iris of the eyes. Skin melanomas occur most frequently in people who are middle-aged or older. They are becoming more common - the incidence of malignant melanoma has doubled every 10 years for the past 40 years - almost certainly because holidays in sunny climates have become more widely available and sunbathing has become more popular.
Likely life insurance underwriting decisions. Non-melanoma skin cancers can sometimes get ordinary rates for life insurance. A GP’s report may be required to ascertain the timing and frequency of occurrence, how it was treated, what the full diagnosis was and whether the client is under review with regular skin checks.
Hodgkin's Disease - A malignant disease of lymphatic tissues evidenced by the enlargement of one or more groups of lymph nodes. Hodgkin's Disease refers to malignant tumours of the lymphatic system. There are various stages and degrees of severity of this condition, and diagnosis usually includes lymph biopsies and removal of the spleen. Treatment depends on the staging and may include radiotherapy or chemotherapy or a combination of the two. The lymphatic system is the network of lymph glands and channels which occurs throughout the body. This collects lymph - fluid that bathes all the body cells. The lymph system is also a very important part of the immune system, which keeps the body free of infection.
Leukaemia - Leukaemia is a form of cancer of the white blood cells. These are the cells that fight infection in the body. There are different types of leukaemia depending on which type of blood cell is affected. There are two main groups of leukaemias - acute (more aggressive) and chronic (where sufferers may live for years). In both groups, treatments have improved dramatically and complete cures may be achieved.
Prostate Cancer - Every year around 16,000 men in the UK are diagnosed with prostate cancer. It is currently the third most common form of cancer to affect British men, striking an average of 1 in 12 during their lifetime. Experts predict that these incidences will triple in less than 20 years. Early diagnosis can improve the chances of a full recovery.
