Life insurance protects against loss of earnings that might affect your ability to pay your mortgage or other bills, but can be very expensive for people with a history of cancer.
Websites offer good quotes but these often increase considerably when a cancer diagnosis is mentioned. The increased quote is based on the stage at which the cancer was caught, how it was treated and the period of time that has passed since you finished your treatment – generally quotes will be most expensive until 5 years have passed.
It will be more expensive to get life insurance straight after treatment, but it is illegal to heavily discriminate against any one group, see The Equality Act (October 2010).
Cancer Research UK has a useful page: explaining life insurance options, but some useful advice would be:
- Make informal enquiries first. If a company turns you down then other companies can see this information and it may affect whether they will insure you and for how much.
- Use a financial advisor who you trust, as they will find you a quote that meets your needs.
The following are independent web-based insurers:
Travel insurance can cover many holiday incidents, but it can also cover any medical treatment, which can be very costly if abroad. Most travel insurance companies will cover you for travel after treatment has finished, but will not cover you for pre-existing conditions.
There are companies who will cover you for treatment related to your cancer, whether present or in the past. You will have to answer similar questions to those asked by life insurance quotes. Dependent upon the destination of your holiday, and the cost of medical care at the destination, the quote will vary or be refused, e.g.. The USA is very expensive.
If travelling within the European Economic Area, you will need to carry a valid European Health Card which gives you free or a reduced cost of treatment while abroad.
The following companies will cover during and soon after cancer treatment:
- Allclear Travel Insurance
- Cancer Travel Insurance
- World First
- J.D.Travel Insurance Consultants
Best priced travel insurance provider we've found:
- AgeUK - available to all ages, not just over 50's.
Please note: Teenage Cancer Trust does not endorse any of these insurers.
For advice you can contact the following:
- The British Insurance Brokers Association on 0870 950 1790 or firstname.lastname@example.org
- Cancer Research UK provide a list of specialist insurance providers