Cancer Life Insurance
The facts about cancer life insurance
Here at iam|INSURED, we understand that being told that yourself or a loved one has cancer is extremely distressing. Within this time, you’re more than likely to think about your future, and that is where we can come in and provide peace of mind.
We further believe that when you receive the unfortunate news of a cancer diagnosis, you will reflect on protecting your future, family and finances. Through our database of top UK life insurers, we can provide you with support across the board. Whether that be cancer life insurance, income protection, critical illness cover or travel insurance.
If you would like to discuss your options with our team of experts, contact us today on 01244 732 890. We will do our upmost to find you the most suitable, yet affordable cancer life insurance product in your time of need, ensuring those affected by cancer are supported.
How to obtain cancer life insurance
When applying for a cancer life insurance policy, there are a few questions which will need to be answered prior to progressing with the process. This will enable our team to find the most suitable life insurance cover for your personal requirements. Here are some of the questions you could expect when applyingfor cancer life insurance:
- What type of cancer did you have/or currently have?
- When were you diagnosed with cancer?
- What was the grading of your cancer?
- What treatment did you have?
The above questions are a necessity, as the type of cancer you have/had, whether you’re a cancer survivor and the extent of your cancer diagnosis will have an impact on the type of cancer life insurance available to you, along with its effect on your premiums.
For example, if you have been diagnosed with a low grading of breast cancer with no recent treatment, your application may progress under standard rates. To understand how the above can affect your policy, contact our team today. They are here to support you through this difficult time.
How much does cancer life insurance cost?
Types of cancer along with its severity can vary significantly, therefore it is difficult to provide a clear calculation of the cost of cancer life insurance. However, you can gauge an estimation based on a few factors which are presented below.
To retrieve your own personal quote, whether that be cancer life insurance, income protection, critical illness cover or travel insurance,contact our expert team today on 01244 732 890.
Your premiums for cancer life insurance will depend on:
- Your current cancer diagnosis.
- The extent of your health history.
- The type of insurance product you’re looking for (Income protection, critical illness cover, travel insurance).
- The term of your cancer life insurance policy.
Percentage (%) loading for cancer life insurance
While taking the above factors into consideration, insurance providers will calculate and apply percentage loading to your premiums when applying for cancer life insurance. Percentage loading is where your personal health and cancer diagnosis will be placed on a risk spectrum and added on top of your basic premium. Please be aware that these percentages will differ from insurer to insurer.
Per mille loadings for cancer life insurance
Along with percentage loading, you may also experience ‘per mille loading’ when applying for cancer life insurance. A ‘per mille loading’ will be a further amount added to your premiums which is calculated based on the amount of cover you apply for (e.g. £2 per thousand £’s of cover). The key difference is, it can be applied for the whole term of your cancer life insurance policy, or for a period of time from the start of your policy (example -2, 3, 4 years).
Exclusions for cancer life insurance, critical illness cover, income protection or travel insurance
Another outcome you may experience when applying for cancer life insurance, critical illness cover, income protection or travel insurance are ‘exclusions’. Exclusions are conditions which may be linked to your cancer diagnosis–They will be excluded from your policy.
To discuss how your premiums may be affected or which exclusions will be applied when applying for cancer life insurance, critical illness cover, income protection or travel insurance, contact our team today. We will provide a confidential approach. 01244 732 890.
How much cover do I need?
The key driving forces when considering the amount of insurance cover required is the type of cancer you have/had, along with its severity. This will guide our team to find the most suitable yet affordable policy for you. There are also additional factors which can help you gauge the amount of cover needed for cancer life insurance, income protection, critical illness cover or travel insurance. View our overview of each below:
Cancer life insurance amounts of cover
If you are looking for a general cancer life insurance policy that will take your health needs into consideration, our team can run through the application process with you, along with any additional products. Your health history, along with the severity of your cancer diagnosis will influence your premiums, along with the amount of cover needed. Here are the factors you should consider before applying for cancer life insurance:
- Mortgage amount (£’s)
- Outstanding debt (e.g. Loans, second charge, credit cards and other)
- Spouse or Partner
- Income (after Tax)
- Assets (e.g. car, house, business etc.)
For more information about how much cancer life insurance you need to protect yourself, family and home, see our iam|INSURED life insurance calculator, or contact our team today 01244 732 890.
Cancer critical illness cover amounts
When considering critical illness cover, this can be a difficult policy to obtain with a cancer diagnosis. However, this is dependent on the extent of your cancer, along with symptoms. In many cases, insurance brokers will want to discuss your circumstances with your personal GP to gauge a full overview. If you are eligible, here are factors to consider when applying for critical illness cover:
- Income (after Tax)
- Mortgage payments (annual)
- Cost of living (annual)
income protection amounts of cover
We understand that if you work, your financial future is a necessity, and that is where income protection cover comes in. However, the likelihood of receiving this protection can decrease if you’ve experienced recent symptoms/treatment. If income protection is something you’re interested in, consider these key factors to gauge cover amounts:
- Monthly income (after tax)
- Mortgage/rent payments
- Debts (other)
- Cost of living
To discuss your likelihood of obtaining income protection cover while being diagnosed with cancer, contact our team today!
Cancer travel insurance amounts of cover
Are you looking to travel abroad? If so, ensure you purchase travel insurances Suitable for those with pre-existing critical conditions. To retrieve your own travel insurance quote, contact us today!
Purchasing your cancer life insurance policy with iam|INSURED
Here at iam|INSURED, we are a team of insurance brokers who are passionate about supporting you in times of need. We work alongside a large database of reputable UK insurers, who offer cancer life insurance policies, along with income protection, critical illness cover and travel insurance – All suitable for you.
Policy details, premiums and exclusions will all differ depending on which insurer you select; however, we will ensure that you’re left with a policy which can protect your future, in an affordable way. Contact our expert team today to progress your cancer life insurance policy. 01244 732 890.