If your still in treatment your only option to get a life policy is a graded death benefit policy.
Update: Sept. 22nd 2014
We do have a carrier that will offer up to $25,000 of guaranteed issue whole life insurance. Ages 50-80. No health questions asked. Call us at the number below and ask about the guaranteed issue policy we offer individuals currently under going cancer treatment.
If you or someone you know has cancer or has recently gone into remission for cancer, you probably know that cancer patients are not the most likely candidates for life insurance. In order to get a policy a policy these things come into consideration the type, stage and grade of the cancer, and even on the treatment plan. It will be nearly impossible to get the coverage if your still in treatment. However when your treatment is done and with a good diagnosis you could have a chance.
It’s true, not every life insurance company will offer life insurance for cancer patients. It goes without saying that they would deem people with this type of health condition as high risk. With that being said, there are some providers out there who, under the right circumstances, will provide life insurance for cancer patients.
The best way to save time and money in your search is to start by contacting one of our licensed life insurance agent who works with a variety of different insurance providers. This will increase your chances of finding one that will offer policies to people with cancer. The insurance agent will be able to recommend various insurance companies and can help get you started in your application process.
Good criteria for getting accepted
- Breast
- Thyroid
- Prostate
- Testicular
- Non-melanoma skin cancer
Bad criteria for getting accepted
- Leukemia
- Colon
- Pancreatic
- Lung
Many of the companies you find who will, on occasion, offer life insurance for cancer patients will require that you be able to answer ‘no’ to questions similar to the following:
- Were you disabled for 30+ days during the course of the last 12 months and, if so, did it prevent you from carrying out your routine tasks and activities?
- Are you currently or have you received chemo or radiation in the last 12 months for cancer? Have you been diagnosed as terminally ill?
Once this preliminary screening is finished, depending on your results, you may proceed with your search for a suitable insurance provider.
A good rule of thumb to have a good chance to qualify is to be cancer free for five years. Also if a policy is offered to a recent cancer patient it may be a graded death benefit policies or a final expense life policy.
Although it won’t necessarily be easy to find life insurance for cancer patients, don’t give up on your search before you’ve even started. Experts in the insurance industry are ready and able to help you find the answers you need, when you need them.
