Cancer Diagnosis and Life Insurance: Your Options

A cancer diagnosis is a shock to anybody, and it’s incredibly difficult to navigate the logistics of financial repercussions and insurance on top of the emotional turmoil your and your family are dealing with. 

Many people think that they stand no chance of getting cover. The truth is, whilst a cancer diagnosis might impact your insurance options to some extent, it’s not the end of the road. 
There are still insurance routes you can take, especially with the help of specialists in health and protection insurance. 

Does life insurance typically cover cancer?

Most life insurance policies do cover cancer as standard, through a death benefit to your beneficiaries in the event that you die as a result of the illness. 

Cancer is one of the most common causes of death, which is why most insurers include it in your protection by default.

Of course, this will only be the case if your policy is active, premiums are paid on time, and you were open and honest about your lifestyle and/or any underlying conditions upfront. 

Can you take out life insurance after a cancer diagnosis?

You can still take out life insurance after a cancer diagnosis. Even though your options may become more limited in some respects, it is by no means the end of the road in terms of getting covered. We have a dedicated team who will listen to your specific circumstances and advise on which are the best options for you.

One potential option is that we can help with guaranteed acceptance policies, where standard underwriting can be difficult or impossible as a result of a recent diagnosis or ongoing treatment. 

There are also options such as over 50s life insurance, or simplified issue life insurance, which often don’t require a full medical exam. 

The best thing you can do following a cancer diagnosis is speak to specialists in health and protection insurance. The Dragonfly Crowd team genuinely cares about putting your needs first and finding a plan which fits your needs and protects you during this difficult time. 

Contact Dragonfly Crowd to Discuss Life Insurance Options

How does a cancer diagnosis affect an existing life insurance policy?

A cancer diagnosis shouldn’t impact or invalidate an existing life insurance policy, because you likely agreed to pay set premiums which contractually cannot be increased.

Effectively, if you’ve got a valid policy already active when you receive a diagnosis, it should remain active and payout to your beneficiaries should you pass away. 

A cancer diagnosis might however impact future policies and cover, if you’re not already protected. That’s why it’s important that you proactively seek life insurance, ensuring you’re prepared for the worst.

Can you get life insurance if you’re in remission?

You can get life insurance if you’re in remission. The team at Dragonfly Crowd specialise in complex cases, such as people requiring life insurance following a cancer diagnosis, or when they have gone into remission.

Insurers are likely to look at a number of factors, including your time in remission, type and stage of cancer,treatment history, lifestyle factors and more. As a result, it’s important to be open and honest upfront about your medical history, as well as your lifestyle before and after diagnosis.

Contact one of our experts to discuss the different options that are available to you. We can go through each option available to you and your specific circumstances and advise you on the best route to take.

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Applying for life insurance if you have cancer (or are in remission)

If you have cancer or you’re in remission, you don’t need to panic about getting life insurance. The first step is to be fully educated about your options, before considering each one and making the decision which best protects you and your loved ones moving forward. 

We don’t want you to do this alone, which is why we’re here to support you every step of the way, with the ability to compare plans from the best insurers across the UK and find the policy which suits you.  

Get in touch with Dragonfly Crowd for support finding insurance if you have cancer, or you’re in remission. 

What cancers are covered under critical illness insurance?

Generally, common invasive cancers:

• Breast cancer
• Bowel cancer
• Lung cancer
• Liver cancer
• Advanced prostate cancer

Blood cancers:

• Leukemia
• Lymphoma
• Sarcoma

and other serious cancers:

• Brain tumours
• Pancreatic cancer

… are all usually covered by critical illness insurance policies.

What is Critical Illness Cover and why is it important?

Critical Illness Cover is an insurance policy that pays a lump sum if you’re diagnosed with a serious condition like cancer. It’s important because cancer treatment often means time off work and unexpected costs. The payout from Critical Illness Cover can help cover living expenses, medical bills, or mortgage payments, providing you with  financial stability so you can focus on recovery.