If you have a health insurance or life insurance policy, your cancer diagnosis may mean you are now eligible for a payout. You may have bought an insurance policy yourself or have insurance through work. For example, many employers provide health insurance as part of a work contract.
You might receive a large, single payment of money from an insurance policy (a lump sum). In this case, you may want to pay it into a bank or building society easy-access account while you decide what to do with it. Easy-access accounts let you withdraw your money at any time without giving notice or paying a fee.
What you do with the money depends on your particular goals.
For example, you may want to:
A wide variety of investments is available. Choosing the most suitable ones will depend on your particular goals and circumstances. If you need help deciding what to do, contact a financial adviser.