Plot to slash cancer cover

INSURERS are considering plans to refuse vital protection policy payouts to customers with stage one cancer.

Critical illness cover is supposed to pay out a lump sum if you are diagnosed with a serious illness. Many policies exclude cover for cancers considered less advanced or non-invasive, such as early-stage prostate and skin cancer.

Industry experts say insurers are now considering excluding stage one cancers from the cancer claim definition altogether or putting up the cost of premiums.

Trade body the Association of British Insurers (ABI) has confirmed it is consulting with the industry on whether the cancer definition needs updating , but says that no decision has yet been made.