Life Insurance News – Male Cancer Awareness Month and World Cancer Day
February is Male Cancer Awareness Month and World Cancer Day which is on Wednesday 4th of February to help raise awareness for Cancer. The Insurance Surgery is a leading insurance specialist for people who have pre-existing medical conditions such as Cancer.
In this article we will look at the effects of Cancer on life insurance premiums and some facts on how underwriters view the various types of Cancer. The Insurance Surgery also works with a number of leading Cancer charities such as Macmillan Cancer Support and Roy Castle Lung Cancer Foundation.
National Male Cancer Awareness Month and World Cancer Day
February is National Male Cancer Awareness Month and World Cancer Day (Wednesday 4th February) which has been highlighted in a number of news items on national television, such as BBC Breakfast and BBC Radio 2. Most of us will now be aware that the statistics for being diagnosed with Cancer has increased from 1 in 3 to an alarming 1 in 2 according to Cancer Research.
Cancer life insurance
Our team of Cancer life insurance experts are constantly working with underwriters and insurance providers to find the lowest rates and best terms for protection cover. Here are some quick points to help illustrate some of our findings:
Smoking: Still viewed as one of the major contributing factors and generally makes it much more difficult to obtain cover if the applicant still smokes
Grade and Stage: Underwriters will need to know the Grade and Stage of the tumour in order to assess the application properly so we will need this information up front
Treatment (i.e. Chemotherapy, Radiotherapy or Surgery): Most providers will require at least 12 months and sometimes up to 24 months (i.e. Breast Cancer) after treatment has ended before being able to consider cover
Here are some examples of Cancer life insurance applications:
Female, aged 47 (Non Smoker)
Breast Cancer (diagnosed 2011), Family History (Breast Cancer)
Sum Assured: £85,000
Term: 30 years
Premium: £155.34 (for 4 years) then £21.46
Male, aged 58 (Non Smoker)
Melanoma (0.4mm stage 1a – diagnosed 2013), Family History (Cancer)
Sum Assured: £75,000
Term: 6 years
For more information or to speak to one of our team of insurance experts:
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Call Freephone 0800 083 2829