A new insurance code for cancer survivors is being welcomed locally.
Following talks between the Irish Cancer Society and the insurance industry, cover of up to €500,000 can be offered for mortgage protection.
Manager of Waterford's Solas Cancer Support Centre, Tracy McDaid says it's a positive development.
"It's something that we hear quite a lot from our clients, and I know it's something that the Irish Cancer Society has been lobbying for for the last number of years," she has told WLR News.
"Obviously, a cancer diagnosis comes with financial implications and somebody - certainly a younger person with a diagnoses - prior to even looking at purchasing their own home, one of the hurdles is getting mortgage protection insurance.
"So, it's wonderful to think that that hurdle has been taken away."
The new code will be rolled out among Insurance Ireland members on a voluntary basis.
Right to be forgotten
A statement on Monday from Insurance Ireland read that the code will lead to "a faster, more streamlined process for impacted cancer survivors."
Under the 'Right to be forgotten' code, insurers will disregard a cancer diagnoses after the person has been cancer-free for seven years or more, with that timeframe reducing to five years for survivors who were under 18 when they finished their treatment.
"If they are seven years post-treatment, their diagnosis won't be held on record as a barrier to being able to get mortgage protection," Tracy continued.
"It is wonderful news because it can become a huge worry about maybe in years to come, how their cancer diagnosis might still be on record, or their insurance policy may be loaded with an extra loading financially. Or that they may not be able to get cover in the first place."
In its 2021 report, the Irish Cancer Society had highlighted that many survivors don't feel they can access the life cover necessary for a mortgage, while separate research earlier this year called on the government to pass legislation specifically on the right to be forgotten.
Responding to the Insurance Ireland statement this week, the society has said that it is an important step, however, government legislation is still necessary to make sure no survivor is at a disadvantage.
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