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There were 346,217 new cancer diagnoses in England in 2022, according to the latest data from the House of Commons Library. Cancer remains a leading cause of death in the UK, but survival rates are improving, particularly for younger and middle-aged people.
That means buying life insurance or making a claim if you've been diagnosed may well be possible.
If you are taking out a policy, you will be asked about family medical history, as many diseases are hereditary. If your parents have had specific cancers, such as certain types of bowel, breast or ovarian cancers, then you have a higher risk of developing them – and this could impact your premiums.
We explain the hows and whys of buying the best life insurance either when you have cancer, or you have had it, or you may have it in the future, as well as how to claim if you receive a cancer diagnosis.
Choose life insurance, health insurance, income protection and/or critical illness cover via LifeSearch and get a £50 John Lewis gift card.
Get a quotePolicy must be active for 90 days before gift card is issued. T&Cs apply.
Find out how does life insurance work?
Life insurance usually only pays out when you die. So if you're diagnosed with cancer, your policy won’t automatically pay you anything. It's important to read your policy carefully to understand what is and isn't covered.
If you want cover that pays out while you're still alive, you need critical illness cover. This is separate from life insurance. It pays you a lump sum if you're diagnosed with a serious illness, including many types of cancer. You can use this money to pay your mortgage, cover bills, or pay for treatment.
Many life insurance policies also include terminal illness benefit. This means the policy could pay out early if a doctor says you have less than 12 months to live. This is different from critical illness cover. Not all policies include terminal illness benefit, so it’s worth checking your documents or asking your insurer.
Critical illness cover is a type of insurance that pays out a tax-free lump sum if you're diagnosed with a serious medical condition listed in the policy, such as cancer, a heart attack or a stroke. You can use the money for anything you need - from everyday bills to private treatment or taking time off work.
It's often sold alongside life insurance, but it's a separate product and only pays out once. Not every cancer is covered, and some policies will only pay if the illness reaches a certain stage, so it’s important to check the terms carefully.
Unless you're given a terminal diagnosis that you will die within 12 months, there's no need to tell your life insurer if you develop cancer.
Once a policy is in place, the premiums cannot be increased. And, as long as you made full and honest disclosures on your application and continue paying the premiums, the policy cannot be cancelled.
Many policies have a terminal illness clause, which means they will pay out in full if you are given less than 12 months to live.
Some won’t pay out under this clause in the last 12 months of the term, but others will. If your doctor confirms they do not expect you to live for 12 months, then you should claim on your policy.
If you are diagnosed with cancer, you may not be able to get life insurance immediately.
You may need to have been clear of cancer for a certain period before most insurers will provide quotes.
Whether someone already diagnosed with cancer can get life insurance depends on their specific circumstances, including the severity, treatment and prognosis provided by the doctors who are treating them.
While there are some specialist, non-medically-screened policies that offer guaranteed cover for anyone, these are often more expensive and for lower sums insured.
The length of term for which you will be able buy life insurance, or the total sum insured, may also be limited.
In all likelihood, you may be better off seeking advice from a specialist life insurance broker to help find the firms and underwriters who are well placed to understand your personal circumstances and provide the best available cover.
Insurers can refuse to offer life insurance cover at any price to those who have been diagnosed with cancer.
Life insurers cover the risk of you dying during the term of the policy. If the medical prognosis is that you will die in that time, then there's no longer a risk, only a certainty. Insurers cannot cover certainties – so they're legally entitled to refuse you cover in those circumstances.
Many insurers choose not to cover other categories of risk, such as motorcyclists or people who take part in dangerous sports, heavy smokers and people with other medical conditions.
People who've had cancer and recovered can buy life insurance.
Insurers will seek detailed medical information from you and require medical notes from your GP or the hospital where you were treated. You may need to attend a medical examination.
Many younger people who get cancer can make a good recovery and live a long life, which insurers recognise.
You may have higher premiums and be restricted as to how much the sum insured can be, but depending on the severity, treatment and prognosis, you should still be able to get cover.
Find out more and get advice on life insurance using the service provided by LifeSearch. Discover more.
As with life insurance, critical illness cover is underwritten based on your age, health and lifestyle.
You will be asked some simple questions and your answers may trigger more detailed questioning. Some forms of cancer are genetically passed on, and this will influence the insurers.
Insurers can refuse to provide cover, but in most cases, they will price in any additional risk in the premium charged to you.
It is also possible to get income protection insurance, which covers you if you are unable to do your main job. Again, the premium will reflect the increased risk.
People who have had and been treated for cancer have been able to buy the full trio of life insurance, critical illness cover and income protection insurance.
Some people with cancer can buy life insurance like everyone else.
Many providers, such as Legal & General, Aviva and Vitality, offer it direct from their websites.
You can also get life insurance from most price comparison websites, such as MoneySuperMarket, Compare the Market and Uswitch.
To find out what your options are, you can use an independent financial adviser. They might already be providing you with other financial advice and products, such as savings, pensions and mortgages.
Or you can turn to a specialist life insurance broker such as LifeSearch, which focuses exclusively on this product and has direct contact with underwriters. They will know which insurers are more favourable towards people who have had cancer.
The more severe or complex your cancer and treatment, together with any other medical conditions and your lifestyle, the more likely a specialist will be best placed to help.
Choose life insurance, health insurance, income protection and/or critical illness cover via LifeSearch and get a £50 John Lewis gift card.
Get a quotePolicy must be active for 90 days before gift card is issued. T&Cs apply.
No, not all cancers are automatically covered by life insurance.
If you’re applying for a new policy and have had cancer in the past, the insurer will look at the type of cancer, how long ago you were treated, and whether you’ve made a full recovery. They might charge more, exclude certain types of cancer, or decline your application.
Critical illness cover is even more specific. It only pays out for certain cancers listed in the policy, and usually only at a serious stage. Always check the terms carefully so you know exactly what’s included.
The most common cancers in the UK are breast, prostate, lung and bowel cancer. These four account for more than half of all new cancer cases.
Prostate cancer is now the most commonly diagnosed cancer in England, with around 55,000 new cases each year, according to Cancer Research.
Cancer is classed as a pre-existing condition if you've had it before applying for life insurance or critical illness cover.
Insurers will ask about your medical history, and it’s important to tell them about any past diagnosis, even if you’ve made a full recovery. If you leave it out, the insurer might cancel your policy or refuse to pay out later.
If you need support while living with cancer, you can find help and information at Macmillan Cancer Support or Cancer Research UK.
Search the UK's leading insurers using the service provided by LifeSearch.
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