Hi not sure if this is the write place to post. DH has had life insurance since before we got married, mainly to cover the mortgage and bills of anything were to happen to him. Fast forward 5 or so years and we now have a child, a bigger mortgage and he is on a bigger salary etc so we need to update our policy.
Problem is DH had a cancer scare last year. It was luckily one that was easily removed and got it super early, hadn't spread at all and all mri blood tests etc clear. It's not the type that is likely to return. However, the big C is like alarm bells for insurance companies as we are now finding out.
When we initially enquired about the upgrade we were quoted an extra $20 a month (fine) and told DH had to have a blood test. All good. Now the quote came back DOUBLE the original cost, with a clause saying he is not covered for cancer!
We haven't had a chance to drill the insurance company about how they arrived at that figure. In any case we will be shopping around.
My question is, for those that work in insurance or have been in a similar situation, is having had cancer an automatic disqualification to ever being covered for it ever again?
And if they have put a clause in there saying he isn't covered for cancer, why would they still increase the premium so dramatically?