"Cancer-only" private health insurance?

TMSG

I am in my 60s but have always been fit and active (BMI ~22, hike 200+ miles per month, non-smoker, healthy eating etc etc). So I am pretty happy with my overall state of health and yet... my dad and a few of my relatives died of cancer and for some, it came out of the blue. So this my main health worry ATM and given the current situation with NHS waiting lists I am thinking of perhaps going down the PHI route. I seem to remember that many moons ago (when I was too young to think much of this :-) ) I heard about a health insurance provider that concentrated on cancer diagnosis and treatment but I can't remember who it was and I also could not find out via Google. Does such a thing (or something similar) still exist? Thanks for any pointers!

Sandtree

Firstly it sounds like you want Private Medical Insurance (PMI)... PHI (or permanent health insurance) is a form of income protection that pays your salary when your off sick rather than paying for medical treatment.

I recall some years ago there were one or two cancer only but unfortunately a google doesnt show it up... I'm not sure how practically they work given initial symptoms may not point to cancer in which case you languish on the NHS waiting lists until some investigations are done and a potential tumour identified. 

lisyloo

Personally this wouldn’t be my top concern.

potential cancer referrals are fast racked but you can also pay for the odd Test which is probably cheaper than insurance   Premiums. Paying for quick tests can allow you to queue jump for around £200. 

Cancer treatment is prioritised now unlike. 2020.

id be more concerned about waiting years for a hip or knee op. 

I would say consider paying for tests
option or get a full insurance policy.

Marcon

TMSG said:

I am in my 60s but have always been fit and active (BMI ~22, hike 200+ miles per month, non-smoker, healthy eating etc etc). So I am pretty happy with my overall state of health and yet... my dad and a few of my relatives died of cancer and for some, it came out of the blue. So this my main health worry ATM and given the current situation with NHS waiting lists I am thinking of perhaps going down the PHI route. I seem to remember that many moons ago (when I was too young to think much of this :-) ) I heard about a health insurance provider that concentrated on cancer diagnosis and treatment but I can't remember who it was and I also could not find out via Google. Does such a thing (or something similar) still exist? Thanks for any pointers!

Would critical illness cover be a better fit than private medical insurance? 

Hopefully this link will be helpful: https://www.macmillan.org.uk/cancer-information-and-support/impacts-of-cancer/insurance-and-cancer/protection-insurance-and-cancer

lisyloo

Isn’t critical illness a fixed lump sum? whereas pmi will often pay for entire claims
cancer claims can be very expensive

the nhs is very good with cancer treatment (apart from 2020/2021).
the hold up is sometimes getting tested / diagnosed especially if you fall between the gaps and don’t present with typical symptoms.
tests are relative cheap so some people do this on a self-insurance basis.

having done it once and had a scan next day and booked a consultant within 3 days (could have been quicker if convenience wasn’t a priority) I’d have no hesitation in doing that part privately again.

it also alleviates the worry.
my results were clear but waiting for 10 weeks to find that out is worrying 
what if it wasn’t and cancer was progressing?

lisyloo

BTW - insurance becomes prohibitive as you get older
i was told around 73 by an experienced advisor.
so you’ll only be able to get it whilst your “younger”

Weighty1

lisyloo said:

BTW - insurance becomes prohibitive as you get older
i was told around 73 by an experienced advisor.
so you’ll only be able to get it whilst your “younger”

It only becomes prohibitive if you can't afford the premiums or the level of cover required.  There are providers who offer whole of life critical illness arrangements so that could be an option.  It's unlikely to be a match due to cost.........but you never know.

L&G offer a "private diagnostics" benefit to be added to their life insurance arrangements which can aid the swift diagnosis of certain conditions but like you say, symptoms which could be caused by cancer are generally dealt with as a priority as is the treatment so I'd completely agree that it's other things which aren't a priority for the NHS which should be the bigger focus.

TMSG

(To avoid doubt, yes, I made an error in writing PHI when I meant PMI. Sorry.)

Thanks folks for the input, some food for thought, esp the idea of critical illness cover.

As to lisyloo's comments about NHS cancer diagnoses being back to normal... perhaps where you live. In my region, there's some anecdotal evidence that things are not yet near that point. And at any rate, when my dad fell ill (more than a decade ago), it was a horrible experience not only because we knew he had cancer (there was a metastasic cancer) but also because it took the staff literally months to find out that it was prostate cancer. It was a tiny growth, OK, but the experience was traumatic and when they finally found out, he was beyond medical help.

lisyloo

I’m so sorry to hear that and I totally get your concerns.

I agree that diagnosis is still behind and I think paying for tests is a really practical idea.
I was very relieved To have tests very quickly.
treatment for cancer is now being prioritised at the expense of “elective” surgery but getting diagnosed is the slower part.

I think PMI is a good idea if you can afford it and I was recently looking at vitality on a “moratorium” basis which was affordable.
however I still expect this to be unaffordable in my 70s.
getting a whole of life policy might smooth out the costs but the risk of cancer in old age will still be factored into the premiums.

I would recommend looking at vitality or getting a specialist adviser. The one I spoke to was knowledgeable.