Discrimination against Cancer survivors when accessing financial products must stop - Ardagh

Fianna Fáil Senator Catherine Ardagh has said that cancer survivors deserve to be treated fairly when accessing financial products like mortgage credit, health insurance or travel insurance.

She made the comments following the publication of research in The Lancet Oncology that showed up to 5 million cancer survivors in Europe are being denied basic financial services such as life assurance, mortgages and travel insurance.

In Ireland, cancer survivors must declare their previous diagnosis to financial institutions, even if they have been medically declared to be cancer-free.

She said: "There are very few people in Ireland that have not been touched by cancer in the cruel and horrible way it touches people.

"Thankfully, more people who get cancer are now experiencing better treatment outcomes. However, this latest research shows how cancer survivors face difficulties in getting back to the normalities of life even after the most positive treatment outcome.

"Part of getting back to the normalities of life is having the opportunity to access financial products in a fair way.

"However, when you have had a cancer diagnosis, accessing products like life assurance becomes much more difficult due to the need to declare the diagnosis to financial institutions.

"This has to stop. The financial system must show common decency and fair access to cancer survivors."

In 2022 Senator Ardagh brought forward the Central Bank (Amendment) Bill 2022 on this subject. The Bill, adjourned at Second Stage in 2022, aims to ensure that cancer survivors are not denied access to financial products like mortgage protection and insurance due to their medical history.

Senator Ardagh has written to the Seanad Leader's office to reschedule the Second Stage of the Bill and has informed the Minister for Finance that she intends to proceed with the legislation.

She said: "While new statutory guidelines for the insurance industry that introduce the 'right to be forgotten' for cancer survivors when applying for mortgage protection insurance have been introduced, as this research has shown, the statutory guidelines do not seem to be having the desired effect.

"My Central Bank (Amendment) Bill 2022 was adjourned in 2022 at Second Stage. It is legislation that seeks to end this discrimination that cancer survivors face when trying to access financial services. Under the Bill, those who are cancer-free for five or more years will not be obliged to disclose or declare they previously suffered from cancer.

"The Bill must be brought back on the legislative agenda, and it must resume when the Seanad returns after Summer recess.

"I have written to the Seanad Leader's office to request the Second Stage of the Bill be rescheduled and I have informed the Minister that I am doing everything I can to advance this legislation.

"This must be progressed in order to stop the financial toxicity faced by cancer survivors when accessing financial products."

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