“It really depends on the insurance company’s appetite.” Cancer survivors are struggling to access life insurance and mortgages, years after their recovery. BreakfastBusiness with JoeBLynam BKNT
The Government has been accused of dragging its heels on a new bill which would introduce a ‘Right to be Forgotten’ for cancer survivors – meaning that, after a time, they would no longer have to tell insurance companies about their history.
“I can confirm that that’s true because I have had many customers who have come to me who have applied for say a mortgage,” he said.“When we apply through the life cover provider … they have to disclose any pre-existing illnesses, such as if they had cancer in the past. “My experience is, depending on certain cancers and in particular the staging of the cancers … it really depends on that insurance company’s appetite.”Irish Cancer Society research shows that one-quarter of people affected by cancer feel they have been unfairly treated when buying financial products in Ireland.
Reports over the weekend suggested the Irish insurance industry is blocking the legislation and, in a statement, industry body Insurance Ireland said it was working towards the best outcome for cancer survivors while also ensuring other customers are not impacted.It said it is aware of the fact that cancer survivors are being denied insurance but insisted many applications are accepted “at either standard rates or with an additional premium, depending on the condition of the individual”.
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