September 11, 2017

family history tree

Improved Life Insurance Terms for people with a family history of cancer

Recently, we learnt that an Insurance Provider had made a major change to their underwriting criteria.

Generally an insurance company will increase (load) the life insurance premium originally quoted by 50% or more, if an applicant’s parent or sibling was diagnosed with cancer before they reached the age of 50.

One Insurance provider has changed their outlook on family history re breast, ovarian or bowel cancer. Like all other providers they previously increased the premium if the family member was diagnosed before 50, but now this increase will only apply if the family member was under 40 when they were diagnosed.

This change was a real benefit to someone we spoke to recently.

Case study

We had a 29 year old client who had a 50% increase on the critical illness part of her previous level life and critical illness policy. She was previously paying £32.62 per month for £75,000 of cover to age 67.

With the new change in underwriting, our client was able to obtain a replacement policy, with the same level of critical illness cover for only £24.33 per month.

Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

Read Jon’s moving story about his testicular cancer diagnosis.

Next steps

If you have a medical history similar to this story, we recommend you talk to one of our advisers. Your adviser will take into account your medical history – an on-line quote won’t. They will also will make sure any quote provided to you with is appropriate to your situation, as well as your budget!

Please call 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

If you would like to know more about who we are, or how you will be dealt with, please feel free to read our Independent client reviews, or read about the team at Future Proof.

Get a Quote

Are you unsure what cover is right for you, take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer with a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.