Cancer
What Is It?
A disease in which abnormal cells divide without control and are able to invade other tissues. Cancer cells can spread to other parts of the body through the blood and lymph systems causing damage and, frequently, death.
Not all cancers will be covered. Apart from Malignant Melanoma skin cancers are not covered and nor are most cancers in situ. These are early stage cancers that have yet to invade surrounding tissue and are more easily treated.
Incidence Rate
Cancer is the single most feared disease with over 335,000 new diagnoses in the UK during 2013, ignoring non-melanoma skin cancers. Of these, 35% affected those below age 65 and over 60% of these affected females. Unsurprisingly it is also the condition most likely to result in a claim.
Claim Statistics
Reinsurers and insurers advise different claims figures but the average shows as around 65% of all claims (around 55% for males and 77% for females).
ABI Wording
The standard ABI model wording is:
“Any malignant tumour positively diagnosed with histological confirmation and characterised by the uncontrolled growth of malignant cells and the invasion of tissue. The term malignant tumour includes leukaemia, sarcoma and lymphoma except cutaneous lymphoma (lymphoma confined to the skin).
For the above definition, the following are not covered:
All cancers which are histologically classified as any of the following:
•pre-malignant;
•non-invasive;
•cancer in situ;
•having borderline malignancy; or
•having low malignant potential
All tumours of the prostate unless histologically classified as having a Gleason score of 7 or above or having progressed to at least clinical TNM classification T2N0M0.
Chronic lymphocytic leukaemia unless histologically classified as having progressed to at least Binet Stage A.
Any skin cancer (including cutaneous lymphoma) other than malignant melanoma that has been histologically classified as having caused invasion beyond the epidermis (outer layer of skin).”
Plan Variations
Variations of this wording are used by all insurers although VitalityLife will only pay 25% of the sum assured although it makes a 100% payment upon diagnosis of ‘Advanced Cancer’. VitalityLife also extends its cover to a number of variants such as Insulinoma, Marrow Aplasia and Myelodysplasia with the percentage payment dependent on the condition.
Scottish Widows PFL plan incorporates early stage prostate cancer and ductal carcinoma of the breast if undergoing treatment. This offers a far wider coverage than the partial payments favoured by other insurers.
Aegon, LV=, Old Mutual Wealth and Zurich additionally include invasive basal cell or squamous carcinoma. Legal & General, LV=, Old Mutual Wealth and Zurich also include chronic lymphocytic leukaemia that has not progressed to at least Binet Stage A.
HSBC will not meet any claim within the policy’s initial 90 days.
