PROSTATE CANCER & LIFE INSURANCE ~ UNDERWRITING ISSUES
Prostate Cancer and Life Insurance / Critical Illness / Income Protection
If you have a history of Prostate Cancer , a broker may still be able to help you obtain life or critical illness insurance or income protection for men - although maybe not on standard terms. There are some critical factors involved that will determine your ability to obtain coverage & your medical history information is always treated with the utmost privacy by the insurer / broker.
What is Prostate Cancer
The prostate is a small gland in the pelvis found only in men & is located between the penis and the bladder. About the size of a walnut, it surrounds the urethra, the tube that carries urine from the bladder to the penis. The main function of the prostate is to help in the production of semen.
Early diagnosis for a man may improve the chances of a full recovery. The chances of developing prostate cancer it seems increase as one gets older. Most cancer cases develop in men aged 70 or older. For reasons that are not understood, prostate cancer has become more common in African-Caribbean men or African descent, and less common in men of Asian descent. The causes of prostate cancer are largely unknown.
Reportedly if you have prostate cancer, the outlook maybe generally good because, unlike many other cancers, prostate cancer usually progresses very slowly. A man can live for years without having any symptoms or needing any treatment. Many men die with prostate cancer, rather than as a result of it. The good news is prostate cancer can usually be cured if it is treated in its early stages. Treatments include removing the prostate, hormone therapy and radiotherapy (using radiation to kill the cancerous cells).
If unfortunately the cancer has spread from the prostate to cause cancer other parts of the body (metastasis) ie typically the bones, it cannot be cured and treatment is focused on prolonging life and relieving symptoms.
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For products with an investment element we will introduce you to an authorised adviser
Cancer & Life Insurance Underwriting
In all cases, this will probably include Doctor's and Specialist consultant's reports to ascertain; 1) the specific type of prostate cancer: 2) when the cancer first/last occurred: 3) how far advanced the cancer is/was: 4) Cancer treatment received: 5) what the current situation is.
Likely life insurance underwriting decisions for cancers as below. The better the treatment and the varied types of cancers, the 'staging system' (0 -4, 4 being the most serious cancer) and the individual Uk life insurance providers attitudes - all add to complicate the overall underwriting processes.
Stage 1 - Likely decision maybe deferred for 1 to 3 years after treatment to be possibly accepted, but also likely to incur a higher monthly medical loadings on premium costs.
Stage I or 2 - Decision maybe deferred for 1 to 5 years after treatment, then only with higher temporary medical loadings on premiums. Premiums are likely to reduce from year 6 to 10 after treatment, to near normal.
Stage 3 - Decision maybe deferred for 5 years after treatment, then only with even higher, temporary medical loadings on premiums.
Stage 4 - Likely to be declined by an Insurer currently.
Note non-disclosure of your actual Prostate Cancer history wether actual, suspected or benign, may make any plan claim void & the insurer is not obliged to refund any premiums paid if this was deliberately not disclosed.
What do Uk Life Insurance Companies look for - when Underwriting a History of Prostate Cancer ?
It would depend on the type of Prostate Cancer and its severity as mentioned above. For Life or Critical lllness Cover most Uk insurers would view each case on an individual basis before making a decision. However the likely decision for all types of cover maybe after a GP report a substantial premium rating or decline. Note that decisions may vary quite dramatically between insurers so please contact us for help & advice.
History - What happened in the past? How severe is the problem now & how does this affect you day to day?
Medical Records - What do your medical records say about you? Have you developed medical problems as a result of Prostate Cancer ? If you have already developed associated problems as a result of Prostate Cancer, many companies may probably decline people looking for Prostate cancer insurance.
Treatment - Have you been for Cancer patient treatment. What is you current level of staging ?
Family History - Do you parents or brothers or sisters have a history of Prostate Cancer also? If so what type do they have ?
Critical Illness Insurance Comparison Tables
For help with Prostate Cancer issues in 2022 why not visit www.cancerresearch.org or www.prostatecanceruk.org *
( * Note: You are now leaving the regulated site of Uk Life Insurance Quotes. Neither ourselves, nor Sesame Ltd, is responsible for the accuracy of the information contained within the linked site.)
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