Cancer survivors need no longer inform banks of disease after five years in remission

From left: Lydia Whelan, Simon Harris, Nikki Gallagher, and Robert Troy at the announcement of the government initiative to help hundreds of families on Daffodil Day. Picture: Department of Finance.

Cancer survivors will no longer need to tell banks or mortgage lenders about their disease after five years in remission as part of a government move that will help hundreds of families.

The Irish Cancer Society has welcomed the government initiative, saying it means survivors can now access mortgage protection insurance on an equal basis.

One breast cancer survivor described it as “great news”, saying her journey to home ownership “came to a standstill” when she was diagnosed.

Lydia Whelan said she got a devastating cancer diagnosis soon after going sale agreed on a home with her partner.

“Everything came to a standstill for me once my diagnosis was confirmed,” she said.

“With the support of friends and family, we were able to complete the purchase but my name is not on the property.” 

Period of remission

She has supported the Irish Cancer Society in its campaign for change — in particular that the time period for remission is set at five years and not seven, as had first been proposed.

“The thoughts of being medically clear of my cancer within five years of my treatment ending, but then having to wait seven years to get my own name on my house, it would be prolonging the trauma of my diagnosis and needlessly preventing me from getting on with my life,” she said.

"That’s why this is such great news for cancer patients and survivors. I’m truly delighted to have been part of this Irish Cancer Society campaign.” 

Tánaiste Simon Harris and the minister of state for financial services, Robert Troy, announced the remission period required would be five years. They also announced the sum-assured threshold would increase from €500,000 to €650,000.

Mr Harris said: “A cancer diagnosis should never define somebody’s financial future or inhibit them from owning their own home.” 

The threshold for insurance will be “subject to future reviews”, he added.

He said: “I’m conscious that these measures have been talked about for many years. Thanks to the work of the Irish Cancer Society and many others, Government is now is a position to put them into action.”

'Significant step forward'

Mr Troy noted the move was first introduced by Catherine Ardagh as a private members bill. 

The Irish Cancer Society director of advocacy and communications, Steve Dempsey, said this is “a significant step forward” for patients and survivors.

Up to now, he said, survivors “faced endless paperwork trails and hurdles to access fundamental financial services such as mortgage protection”.

The charity had previously welcomed an Insurance Ireland voluntary and opt-in code of conduct, but he said this latest commitment addresses all concerns.

“Today, for the first time, Government has committed to a five-year disclosure period, and this will give enormous comfort to cancer patients and survivors. We now need this legislation to be enacted as quickly as possible,” he said.

The amended right to be forgotten after cancer legislation will be brought to Cabinet within months.

The Irish Cancer Society’s Daffodil Day fundraiser takes place on Friday.