Your browser version is no longer supported, so you may experience issues while using this site.
Please upgrade to a current browser to enjoy the best experience.

If I had cancer – can I still get life insurance?

Claire Sutton

By Claire Sutton
Executive Manager, Life Portfolio and New Business

23 April 2020

Share this: 

The good news is, it may be possible to get life insurance after a cancer diagnosis

If you are in remission and otherwise healthy, in most cases you will be able to find life cover that works for you. However, the policy you qualify for will likely be determined by factors such as the date of your diagnosis, the type of cancer you had and the severity of the disease.

The more you can provide detailed answers about your medical history, the smoother the process of getting life cover will be. When applying for life cover, expect to be asked questions such as when you were diagnosed with cancer, the type and stage of cancer you had, the size and location of your cancer, whether it metastasized, as well as what treatment you underwent, when and for how long.

Your medical records will be reviewed by an underwriter to enable a fair and accurate assessment

You might also be asked to provide proof that you are strictly following any ongoing treatment plans. This includes taking prescribed medications and attending follow-up appointments.

If you are in remission, but have other health issues, this may also impact the type of cover you can get and determine any exclusions put in place.

One of the key qualifiers for life insurance after a cancer diagnosis is time

The longer you have been in remission and out of treatment, the more insurance options will be available to you.

After having cancer, there will often be stand down periods (also called postponement periods) in place. Generally, these outline the length of time you may need to wait before you can apply for life cover. Those who have been in remission less than a year are more likely to be subject to a stand down period. However, depending on the severity of the type of cancer you have had, you might need to wait anywhere between a year to ten years before your application for life cover can be accepted.

The best person to talk to is an adviser

An adviser is the best person to help you find the insurance cover that works for you after a cancer diagnosis. Advisers can help you find the best products for you budget and needs, provide customised advice,  keep your insurance up to date and most of all, be impartial.

If you want to talk to an adviser about your life insurance policy, you can find one here.

The information in this article has been compiled from various sources and is intended to be factual information only. Full details of policy terms and conditions are available from Asteron Life Limited or your financial adviser. For advice on product suitability, please contact your financial adviser. While we take reasonable steps to ensure that the information contained in this article is accurate and up-to-date, it is subject to change without notice. Asteron Life Limited and its related companies does/do not accept any responsibility or liability in connection with your use of or reliance on this article.

Keep reading

7 things that might surprise you about life insurance

Blog

7 things that might surprise you about life insurance

By Graham Hill

Life insurance is one of those topics which can seem so complex that you just put it into the too-hard-basket. But here are seven simple things which you might not have known about life insurance.

Five ways you could save on your insurance

Blog

Five ways you could save on your insurance

By Grant Willis

Insurance is about protecting the lifestyle you’ve worked hard to create, and it’s important to be able to maintain your cover for as long as you need it. Here are five things you can discuss with your financial adviser which may help you save on your personal insurance.

What is Life Insurance?

Insurance

What is Life Insurance?

You can't predict the future, but you can help protect yourself against it. Life Insurance can provide a lump sum of money if you die or become terminally ill. It is designed to help your family pay costs that you would have helped with if you were still alive.