Answered by Tom Conner
How Insurers View an Applicant With a Family History of Cancer
Each insurer has their own way of measuring risk when it comes to insuring your income; therefore each insurer will view things differently. There are a few variants that the insurers will consider when it comes to covering a family history of cancer.
The insurers will only consider your natural parents and siblings, if you are unsure of your family history or don’t know your parents, the insurers will not take family history into consideration.
Some of the factors they consider will include the following:
- Your gender
- Type of cancer suffered by family members
- The number of family members that have suffered with the condition.
Once this information has been assessed, there can be a couple of outcomes. The insurers may exclude the condition from any future claims, but you will be covered for everything else. Or they could increase the premium to reflect the higher risk – this is known as a “loading”.
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Frequently Asked Income Protection Insurance Questions
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