Cancer and Life Insurance Case Study

by | Tuesday 22nd Feb 2022 | Mortgage Case Studies

Checking through the insurance policy

Key features:

Clients came to Oportfolio to secure some life insurance to accompany their new property purchase. Our client’s mother had breast cancer in the past and although our client does not have cancer, she wanted to make sure that she was covered in case she too developed cancer in the future.

A straight forward life insurance application turned out to be quite difficult as the majority of insurance companies excluded cancer meaning that they would not cover a potential future diagnosis for the clients.

Our clients:

Our clients were purchasing a new home and as well as securing a new mortgage, they spoke to our advisor at Oportfolio to discuss getting some new protection policies.

Our client’s mother had recently recovered form a traumatic battle with breast cancer and although she was now in better health, our client was extremely concerned about the possibility of developing breast cancer or any other kind of cancer in the future and so she wanted to have some insurance that would cover this.

Although both clients were in good health themselves with no serious medical conditions, we soon discovered that a lot of insurance companies had exclusions in their cover for cancers and because of our client’s mother’s breast cancer diagnosis, some lenders deemed this as a potential liability and would not lend.

Understandably our clients were very frustrated and worried by the pushbacks that they were getting from the insurance companies, and it looked like they were going to have to accept that the cover they most cared about wasn’t possible.

How did we help?

Not wanting to take no for an answer, our advisor Jade and her team of administrators jumped into action and tirelessly searched the market for an insurer who was willing to cover the possibility of developing cancer in the future.

Using our knowledge and expertise around protection policies and companies we managed to find an insurance company and policy that not only covered the possibility of developing breast cancer but any other cancer and over 20 other types of illnesses and inflictions so that both clients can rest easy knowing that they are covered for anything that life might throw at them.

To cover both clients their insurance comes to £100 a month which was well within their budget, and they were both really pleased and appreciative of all the hard work that Jade and the team did for them.

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