Cancer survivors in the Czech Republic may soon benefit from discounted mortgage rates, a positive development for those who have successfully battled cancer but have faced challenges in obtaining affordable life insurance. Typically, cancer survivors are considered higher-risk clients and face higher mortgage interest rates as a result. However, Czech insurance companies are reevaluating their policies and considering a more accommodating approach ahead of the implementation of new European regulations in 2025.

The impending changes have garnered praise from the National Association of Patient Organizations, with its chairman, Robert Hejzák, emphasizing that if the new rules permit cancer survivors to obtain insurance under standard conditions one year after completing treatment without being considered at risk of relapse, it would be a significant advancement. However, the practical implications and specific criteria for these changes are yet to be determined.

The motivation for insurance companies to reconsider their policies is driven by new European legislation, which requires member states to ensure equal access to financial services for cancer patients in remission by 2025. This directive aims to introduce the concept of the “right to be forgotten” into practice, and Czech insurance companies are exploring ways to implement it.

While European and Czech insurance companies are open to these changes, they remain cautious about overlooking the risk of potential relapses among their clients. The debate centers around determining the number of years that must elapse after the completion of cancer treatment for the diagnosis to be formally disregarded. Initially, the European Union proposed a 10-year period for adults and five years less for children and adolescents. However, some member states advocated for longer durations. An agreement was ultimately reached to set the limit at 15 years for adults and ten years for children.

Member of the European Parliament Kateřina Konečná, who served as the rapporteur for the directive, noted that if the Czech Republic wished to establish a 10-year limit, there would be no obstacles to its implementation. It’s important to clarify that the voluntary solutions offered by Czech insurance companies do not directly align with the upcoming EU regulations, which may not be as stringent.

Czech data indicates that the mortality rate among cancer patients seven years after treatment is not significantly high, according to experts involved in the discussions. This data could influence insurance companies to no longer deny coverage to patients in remission after this seven-year period. Each year, over 87,000 individuals in the Czech Republic are diagnosed with malignant tumors, and approximately 600,000 people live with or have successfully battled cancer. This progressive step by Czech insurance companies will provide relief for cancer survivors seeking mortgages and signify a move toward greater inclusivity and support for individuals who have overcome cancer.

Article by Prague Forum