Best Life Insurance Cancer Survivor 2019
A cancer diagnosis is a powerful reminder that anything can happen, so it’s important to make sure your family is protected.
If you don’t have life insurance yet, don’t worry – you still have options.
After two years cancer-free, many survivors can qualify for coverage, although there may be a graded period (which means you won’t get a full payout if you die during that time).
After five years, many people can get coverage that kicks in right away.
Of course, life insurance coverage is most affordable before you have a major health issue, so encourage your loved ones to lock in a policy now.
Options Life Insurance Cancer Survivor
If you are currently taking cancer treatment, your only option may be guaranteed issue coverage, which is whole life, in face amounts up to $25,000, and which has a waiting period before the full coverage kicks in.
If you have been in remission for many years, you may be able to get any amount of life insurance you want, in term or universal life or whole life, as you desire.
The factors that can determine what kind of policy you can get are the time since you were diagnosed, the time since your last treatment ended, what stage and type of cancer you have/had, if there was ever a recurrence, the age when you were diagnosed, what medications/surgery/treatments you had, pathology reports, and how you are doing now.
Life Insurance Cancer Survivor and Stage of the Cancer
Underwriters want to know what stage your cancer is at.
In Situ Is often called a pre-cancerous stage where the initial growth hasn’t moved from the original site. A standard rating is the best case scenario.
Let’s take a peek at the different stages of cancer now:
Stage 1 is “early-stage” cancer. It’s usually limited to the organ where it was detected. With traditional life insurance carriers, you’re probably looking at a waiting period before they consider underwriting you. A simplified-issue no medical policy may your best option.
Stage 2 & 3: Larger tumours have developed more deeply into surrounding tissues and cancer may have spread to lymph nodes as well. You’re definitely looking at a significant waiting period before a traditional insurer will underwrite you. A simplified-issue no medical policy may be your only option until you’re cancer-free for some time.
Stage 4: This is the most advanced stage. The Cancer spread to other organs and parts of the body. You’ll receive a definite decline from the insurance company. A Guaranteed Issue Policy is your only option.
3 Best Life Insurance for Cancer Survivors 2019
Guaranteed Issued Policy for Cancer Survivor
If you are getting a guaranteed issued policy, the only thing you need to do is fill out the application.
There is no exam, no phone interview, and the insurance company does not order medical records.
Our agency takes care of everything and lets you know when your policy is approved.
Simplified Issued Policy for Cancer Survivor
If you are getting a “simplified issue” policy (you might be able to qualify for this type of policy after a couple of years since your last cancer treatment), you will not need to take an exam, but may have to do a phone interview. This type of policy has no graded period and comes in term and whole life.
Term Life Insurance Cancer Survivor
When applying for a “regular” life insurance policy, you will need to take and exam and the company will order medical records.
Once approved, you will be rated according to your health. That may include a table rating or flat extra.
Cancer Survivor Life Insurance Online Quote
Some policies ask little to no health questions. Some will ask for great detail and order all related medical records.
This is where your agent’s experience and expertise come in.
We carry policies from over 40 companies, and every one of them have their own guidelines about cancer.
Having so many choices, and being familiar with their health guidelines, allows us to get you the best features AND best price possible.
Call us 813-964-7100