Although more and more people are now living with cancer, the financial services industry can be very cautious about doing business with people who have had cancer. Insurance companies, in particular, feel that people who have had cancer are more likely to make a claim, although this is generally not the case.

Insurance and mortgages

You may find it difficult to get life assurance for two to three years after your recovery from cancer. Much will depend on the type and extent of the cancer you had, and the length of time which has passed since your treatment. When life assurance is granted, the first premiums are likely to be high. If you are already covered, you may find it difficult to increase the value of your policy for some years.

You may wish to talk to an independent financial adviser (IFA) about insurance. IFAs can contact a large number of insurers and get the best policy for you. Large IFAs have offices in most major cities. The Financial Services Authority (FSA) regulates IFAs and insurers and can give details of registered IFAs in your area. The Society for Financial Advisers can give you details of IFAs in your area.

BIBA (the British Insurance Brokers’ Association) may also be able to find you a broker. BIBA can help with travel insurance and can provide a list of independent financial advisers to help you get a mortgage.