September 18, 2020

Life insurance after testicular cancer - a guide

Life insurance after testicular cancer – a guide

Testicular cancer is a relatively rare type of cancer, accounting for just 1% of all cancers that occur in men.

Around 2,300 men are diagnosed with testicular cancer each year in the UK.

Testicular cancer is unusual when compared with other cancers because it tends to affect younger men.

Although it’s relatively uncommon overall, testicular cancer is the most common type of cancer to affect men between the ages of 15 and 49.

For reasons that are unclear, white men have a higher risk of developing testicular cancer than men from other ethnic groups. Source NHS Choices June 2019.

How does this condition affect a life insurance application?

If you have had cancer and are looking for life insurance, there are various factors that an insurance company will take into account when underwriting an application. These will include:

  • the type of cancer that you were diagnosed with
  • when you were diagnosed
  • how much time has passed since the diagnosis
  • how far it developed (stage and grade)

Insurance companies base their policy terms on the ‘staging’ classifications of cancer, as determined by hospital consultants. In other words, the cancer type, and by how early or advanced the cancer was.

With your permission, they will write to your doctor, asking for detailed medical information which could affect your policy. The insurers have a duty to base their assessment on information that is relevant and from a reliable source. They might also ask you to have a medical examination before they are prepared to issue your policy.

Risk factors

With most cancers, life insurance companies are unlikely to offer a policy for at least two to three years after you have recovered from that cancer.

When a policy is issued, the initial premiums may be high because that is the time of the greatest risk for any insurer.  For most cancers, the more time that passes by reduces the risk of it returning, and depending upon the stage and grade of your cancer, it may be possible to obtain standard terms after a period of years.

Our process and advice

All insurance providers have their own underwriting criteria and at Future Proof, we also have access to specialist insurance companies.  These insurers don’t deal directly with the public and offer more specialised policies which are designed to provide cover where other major providers can’t.

Our research process involves us contacting many insurers to find out the best possible outcome for our clients, which avoids any nasty shocks later on during the underwriting process.

Would the insurer add a ‘loading’ to their standard premium? (this is an additional charge on top of their standard monthly premium to reflect their increased risk)

Might they decline the application? We want to avoid wasting time by making applications which may be declined.

Please feel free to talk to us confidentially about your individual case.

Finding the right provider could save you thousands of pounds over the term of a policy. The cheapest Insurer (on the face of it) may not actually be the most cost-effective choice once they have completed their underwriting.

We have current knowledge of the ever-changing landscape of underwriting for all providers in the UK.  Continually researching the best policies on the market, so that you don’t have to. What’s more our advice comes with no obligation or hidden costs.  You don’t pay us directly but we do get paid by the insurer if you decide to start a policy with them.

All our case studies are based on actual client scenarios, many of which pre-date 2020.  We are confident that the acceptance decision made by the insurers would still be offered. Although it is likely that the rates will have changed, your own circumstances will determine whether what amount will be payable by you and would be fully discussed with you before any plan is implemented.

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.

Next steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

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

Please feel free to read our Independent client reviews, or read about the team at Future Proof

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Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from 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.

Links to third-party websites exist for information only, and we accept no responsibility or liability for the information contained on any such sites.
The existence of a link to another website does not imply or express
endorsement of its provider, products or services by us or St. James’s Place.