Clare TD and Minister of State Timmy Dooley, has welcomed Government approval of landmark legislation that will ensure cancer survivors are treated fairly when applying for mortgage protection insurance.
The new measures will introduce a statutory “Right to Be Forgotten”, meaning people who have completed cancer treatment and have been in remission for five years will no longer be required to disclose their cancer history when applying for mortgage protection insurance on their family home.
Minister Dooley explained, “For too long, cancer survivors who have come through treatment and are rebuilding their lives have continued to face barriers when trying to secure a mortgage.
“This legislation recognises that once a person has completed treatment and reached the appropriate remission point, they should be able to move forward without that history holding them back.”
Under the new provisions, the remission period will be cut from seven years to five years and the mortgage protection threshold will increase from €500,000 to €650,000 .
Minister Dooley said the changes strike the right balance between fairness for consumers and stability in the insurance market.
“This is about fairness and common sense. It ensures that cancer survivors are not penalised, while also providing a clear and consistent framework for insurers. It will give those who wish to buy a home the confidence to make those plans without unnecessary obstacles.
“The legislation will now progress through the Oireachtas. We are committing to prioritizing it so that the new protections can be put in place for people as soon as possible,” Minister Dooley said.