Critical Illness Articles
What Women Need to Know about Breast Cancer and Critical Illness Cover
If you are at risk for breast cancer and wish to purchase a critical illness cover, be careful about the policy you choose. It is common that early forms of breast cancer, if detected and treated, are excluded from most critical illness cover policies.
Reading the Fine Print
Many women are concerned about the possibility of developing breast cancer and how it would affect themselves and their families if they are unable to work. Critical illness cover was developed specifically to help residents in the UK with a lump sum cash settlement if an insured should be diagnosed with a critical illness outlined in the policy.
However, applicants who purchase critical illness cover need to read the fine print carefully before buying a policy. There are a number of exclusions that could limit your payment or lead to a denial of a claim, even with a diagnosis of cancer.
Not All Cancers are Treated Equally
Cancer is always listed as one of the main types of critical illnesses the policies cover. However, many claims for early diagnosis of some types of cancer have been denied by insurers. Women particularly are finding that their claims for benefits from a critical illness cover are being denied. If their condition was detected early and they receive the right treatment, they have a good chance of recovery – thus excluding them from “critical illness” cover.
For example, one of the breast cancers not commonly covered in critical illness policies is Ductal Carcinoma In Situ (DCIS). DCIS is a non-malignant tumour, and if not caught early on, can spread and become malignant. However, medical technology has advanced so that DCIS can be contained and removed, and the cancer victim has a very good chance of making a full recovery. Subsequently, early detection of DCIS is usually excluded from a critical illness cover.
Of course, this seems quite counterintuitive. While a cancer victim is being treated with surgery to remove the cancer, as well as during the follow-up radiotherapy, she is likely unable to work. The surgery is invasive, and the patient can be considered completely disabled while receiving radiation therapy to prevent the carcinoma from returning. While she cannot work, she cannot make a living. And of course, it would seem likely that a claim against a critical illness cover would help meet expenses during treatment. However, this is not usually the case.
Most insurers have determined that while DCIS is a form of cancer and can be life-threatening, if it is detected early and treated, then the chance of survival is great and long-term disability is unlikely. This type of exclusion is standard across the board. However, while some insurers will fully exclude DCIS from eligibility for benefits, some insurers will agree to make a partial payment. A small list of insurers who make partial benefit payments for DCIS includes Skandia, Fortis Life, Unum, and AXA.
Finding the Right Policy for You
If you are concerned about how you would manage your finances if you develop breast cancer, shop around. Check different insurer’s policies, and read them carefully to determine whether DCIS is fully excluded or if the cover will pay a partial benefit. Your careful research before you buy a critical illness cover can save a great deal of heartache in the future.
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