Life insurance for dads
Most dads need life insurance to secure the financial…
8 min
Yes, it could be possible to secure life insurance cover after recovering from testicular cancer.
While a history of cancer will influence your premium costs and eligibility, it may not mean you won't be able to secure form of cover.
In males in the UK, testicular cancer is the 17th most common cancer, with around 2,400 new cases every year[1].
Being common and with a high survival rate, insurers recognise this and can often offer cover suited to the cancer survivors needs.
Exploring the market and comparing various options is crucial to finding the best policy for you. Reassured can assist you in exploring a range of choices free of charge.
If you're seeking the right life insurance after surviving cancer, Reassured has also written a comprehensive guide on ‘life insurance after cancer' that offers a wealth of information to help you.
Yes, if you have previously been diagnosed with testicular cancer, there is a high possibility that it may affect your life insurance premiums or eligibility.
Insurance companies might provide higher premiums or different terms based on your past cancer diagnosis. However, since testicular cancer has a high survival rate, this might not be a significant concern if you’ve been in remission for a number of years.
Key factors about your testicular cancer that may affect cost and eligibility can be surrounding when you were diagnosed, if you had treatment and how severe your cancer was.
Every application is considered uniquely as everyone’s circumstances are different, therefore it’s important to review a variety of insurers to decide what option works best for you.
The only case in which your medical history doesn’t affect your application is when taking out an over 50s policy.
Yes, it’s essential that you inform your insurer of any previous cancer diagnosis or medical conditions in the application.
Unless you are applying for an over 50s life insurance policy, all other policies require information including your medical history to determine the level of risk it is to insure you.
Being open and honest with your insurer during the application is vital as if you miss anything out or fail to answer honestly, it could risk your loved ones not receiving a payout due to non-disclosure.
When applying you’ll be asked a series of questions about your health, lifestyle and occupation to ensure that you’re provided with an accurate quote based on your circumstances.
In the tables below we’ve provided some real-life examples of where customers with a history of testicular cancer have obtained affordable cover through Reassured.
Case study 1
This customer was a 35 year old non-smoker. They secured £250,000 of cover from Aviva for £16.73 a month:
Details of applicant | Mr K. Barnett |
---|---|
Testicular cancer details | Stage 1, under follow up for the next few years. No more treatment needed. 17th July was last treatment. DVT side effect of cancer, customer takes anticoagulants for it. Only had one DVT. |
Reason for cover | Family & mortgage |
Policy details | Sum assured: £250,000 |
Monthly premium | £16.73 a month |
Case study 2
This customer was a 41 year old non-smoker. They secured £100,000 of cover from LV= for £22.86 a month:
Details of applicant | Mr F. Grey |
---|---|
Testicular cancer details | In remission for 6 years, last follow-up end of May 2024. |
Reason for cover | Family |
Policy details | Sum assured: £100,000 |
Monthly premium | £22.86 a month |
Please note customer names have been changed
There isn’t necessarily a best life insurance for those who have survived testicular cancer - the right option for you is down to your personal circumstances and needs.
Depending on your level of risk, some policies may be easier to secure than others. Below we have listed the most popular forms of life insurance:
Guaranteed acceptance for UK residents aged between 50 - 85, providing a guaranteed fixed lump sum pay out and cover that will last for the rest of your life (after a 12 or 24 month waiting period).
This is a perfect option for those within the specified age bracket who have struggled to secure standard types of life insurance as no medical questions are asked in the application.
A policy that lasts for a set term (up to 40 years) that has fixed monthly premiums and provides a fixed lump sum payout if you pass away during the term. Medical questions are asked in the application.
An excellent choice for those looking to cover an interest-based mortgage and/or future family living costs.
Decreasing term life insurance
A policy that lasts for a set term (up to 40 years) that has fixed monthly premiums and provides a lump sum which decreases over time, which will only be paid out if you pass away in the term. Medical questions are asked in the application.
A great option for those looking to cover a repayment mortgage or for an affordable policy.
A more expensive option, although it pays out when you pass away, not if. Medical questions are asked in the application, although the desired maximum payout amount can be higher than an over 50s policy (up to £1,000,000).
Some insurers include terminal illness cover as standard or offer the option to add critical illness cover at an additional cost.
Reassured can compare the policies above and help you find the right policy for your needs. Simply get in touch today and begin your life insurance journey.
The time between being fully clear from cancer to being accepted for a life insurance policy may vary between insurers, although it is typically 2 - 3 years (or in some cases 5 - 10).
This can be dependent on your health and specifics of your own case. Insurers will evaluate a variety of factors.
Typically, the longer you’ve been in remission, the better your chances of obtaining cover and the more affordable it may be.
If you apply too early following a diagnosis or while still receiving treatment, then your application may be postponed or declined.
Reassured offer a specialist service from our impaired life insurance team who can help those who have previously been declined.
When applying for life insurance, you’ll be asked about a variety of factors so insurers can determine your level of risk and calculate the cost of your monthly premium.
You’ll be asked about:
You’ll also be asked further questions regarding your cancer diagnosis so the insurer can gain a better understanding of your medical history. You may be asked:
Your premiums might be higher because of the risk factor, or your application could be delayed until you complete the recovery period of at least 1 or 2 years (depending on the insurer).
Having a life insurance policy in place can offer financial security to your loved ones if the worst were to happen to you.
A claim can be made if you pass away while your policy is active, so that your beneficiaries receive a lump sum payout.
The pay out from a life insurance claim can help cover:
Everyone’s circumstances are different and your policy can be personalised to help protect what matters most to you.
Our life insurance calculator can help you consider what you’d like to help protect and how much cover you may need.
If you’re living with testicular cancer, are currently recovering or have been affected, there are a range of charities and helplines that can offer support and information surrounding the condition.
Some of these include:
Securing life insurance after surviving testicular cancer may seem to be challenging, when in reality it could be possible and potentially worthwhile.
Life insurance can offer you and your loved ones peace of mind that their future is financially safeguarded.
By exploring options and different insurers through Reassured, you could find a policy that meets your personal needs and budget.
Reassured can help you throughout the entire application process and help compare competitive quotes.
Why not get in touch today to secure the right policy for you. For further assistance on your personal circumstances, why not get in contact with our specialist impaired risk team?
[1] https://www.cancerresearchuk.org/health-professional/cancer-statistics/statistics-by-cancer-type/testicular-cancer