Life Insurance For Cancer Survivors – In 2020, approximately 1.8 million people in the United States will be diagnosed with cancer. – National Cancer Institute
The type of policy, the face amount and how much it will cost depends on seven important facts about your diagnosis and your overall health.
Life Insurance For Cancer Survivors
Cancer is a term for diseases in which abnormal cells divide uncontrollably and can invade nearby tissues. – National Cancer Institute
Life Insurance For Cancer Patients And Survivors 
Overall, there are more than 100 forms of cancer. Your specific type of cancer will affect how life insurance companies view your application.
The more risk (cancer) you present, the more money you will be charged in exchange for life insurance protection.
As cancer cells divide, they can spread to other parts of your body. Doctors use a staging system based on Roman numerals to determine how far cancer cells in your body have spread.
Generally, there are five stages of cancer: 0, I, II, III and IV. Each stage usually has a subcategory to further define how far the cancer has spread. Some cancers do not have stage 0.
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Consider your ability to be approved for traditional life insurance based on the stage of your cancer. means,
Also note – in contrast, some term life insurance options, such as guaranteed issue life insurance, provide life insurance to cancer patients at all times.
Why? A life insurance policy guaranteed problem without health questions (almost always) or medical exams. Your cancer diagnosis does not interfere with the approval of life insurance.
If you are currently receiving treatment, you will likely only be eligible for Guaranteed Issue (GI) coverage. Although more expensive, some life insurance is better than zero life insurance.
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Here’s why- Underwriters want to understand the nature of your treatment history. For example, some treatments last for years, while others last less than a month.
Here’s why – each type of cancer has a different waiting time for traditional life insurance approval after treatment.
Your cancer type, stage, tumor grade/size, types of treatment and overall prognosis will affect whether and when you can purchase traditional life insurance.
Remember – your waiting time is entirely relative to the life insurance underwritten. Guaranteed life insurance is available before the waiting period is over—and even while you’re undergoing cancer treatment.
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For example, if you’re overweight, have other underlying health problems, or are a smoker, it’s likely that a life insurance underwriter will want to know.
If you have a health condition, cancer or otherwise, or a lifestyle that increases your odds of developing a serious illness (eg, a history of alcoholism), plan to communicate this information during the application process.
If you are currently undergoing cancer treatment, or you have not exceeded the required waiting period for your cancer remission, you will have one option for life insurance: guaranteed issue.
If you are in remission, you may be able to secure fully underwritten life insurance. In other words, once you’ve passed your cancer waiting period, it’s possible to get approved for traditional life insurance.
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Keep in mind—your specific cancer type, stage, and prognosis will factor into your ability to get approved.
Plan to make the following information readily available. A complete application gives you the best chance for easy processing and approval:
To secure life insurance after a cancer diagnosis, you may want to partner with an independent agent.
Here’s why: Independent agents have your best interest at heart and can shop multiple carriers and multiple policies to find the best life insurance for you.
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You will compare and contrast the best no physical life insurance companies to find a policy that matches your needs and budget.
A cancer diagnosis creates unique considerations, and you’ll want to choose an expert agent to find the best carrier to apply for.
Heidi is an independent life insurance agent and founder of No Physical Term Life. She has specialized since 2015 in helping clients find life insurance without requiring any medical exam. It is important for breast cancer patients and survivors to be aware that they may still qualify for life insurance coverage. Many believe that being diagnosed with cancer immediately makes them ineligible for coverage, but that is not always the case. There are numerous life insurance providers that focus on providing protection to customers who receive a cancer diagnosis.
Being diagnosed with breast cancer undoubtedly has a huge emotional impact on individuals and families. A common misconception is that you are not eligible for life insurance if you have been diagnosed with breast cancer. Actually, this is not the case. A common question we get from our clients is “Can I get life insurance if I’m diagnosed with breast cancer?”
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Yes! You can still get life insurance if you have been diagnosed with breast cancer. Depending on your situation, you may also be eligible for favorable rates. Since every situation is unique, it’s best to consult an advisor who can help you navigate your situation and find a policy that fits your needs.
Breast cancer is an abnormal growth of breast cells. To understand breast cancer, it is necessary to review how all cancers develop. Cancer is caused by mutations or abnormal changes in genes responsible for controlling cell growth and maintaining their health. Genes are located in the nucleus of each cell, which acts as the control room of each cell. Normally, the cells in our body replace themselves through the orderly process of cell growth: as old cells die, healthy new cells take their place. Over time, however, mutations can activate certain genes and deactivate others in the cell. This altered cell gains the ability to continue dividing uncontrollably and randomly, producing more identical cells and forming a tumor.
Tumors can be benign, without health risks, or malignant and have the potential to be dangerous. Benign tumors are not cancerous; Their cells look like normal cells, they grow slowly, and they do not invade nearby tissues or spread throughout the body. Malignant tumors are cancerous. Malignant cells can eventually spread beyond the original tumor to other parts of the body if left unchecked. The term breast cancer refers to a malignant tumor arising from breast cells.
Usually, breast cancer originates either in the cells of the milk-producing glands called lobules or in the milk-draining ducts. Often, breast cancer can begin in the stromal tissue, including the fatty and fibrous connective tissue of the breast.
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Over time, cancer cells can invade neighboring healthy breast tissue and spread to the underarm lymph nodes, which are small organs that filter out foreign substances. If cancer cells reach the lymph nodes, they can then spread to other organs. The stage of breast cancer indicates the extent to which the cancer cells have spread beyond the original tumor.
Everyone can take steps to keep their body as healthy as possible, including eating a balanced diet, maintaining a healthy weight, not smoking, limiting alcohol consumption, and exercising regularly. While these may have a small effect on your risk of developing breast cancer, they cannot eliminate it completely.
Invasive ductal carcinoma – Cancer cells originate in the ducts and then spread to other regions of the breast tissue. Aggressive cancer cells can also metastasize or spread to other organs.
Invasive lobular carcinoma – Cancer cells originate in the lobules and then spread from the lobules to nearby breast tissue. Additionally, these aggressive cancer cells can spread to other organs.
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Symptoms of breast cancer vary from person to person. Some individuals show no signs or symptoms. Some common symptoms of breast cancer include:
If you have accurately declared your health condition while applying for life insurance or critical illness insurance and the policy is issued, the policy will cover newly diagnosed breast cancer. Your insurance company may deny coverage or claim if misleading information is provided. For example, if there is no information about being a cancer survivor or diagnosed with cancer at the time of application.
Keep in mind that different types of life insurance are easier or more difficult to obtain depending on the diagnosis and progression of your breast cancer. Traditional life insurance will include a long questionnaire with a number of questions related to cancer. Simple issue life insurance will only ask one or two questions about your breast cancer risks. Guaranteed issue life insurance will have no question as there is no questionnaire. However, guaranteed issue life insurance requires a two-year moratorium (waiting) period before your beneficiaries can receive the full benefit amount. This means that if you die within the two-year window, the full benefit claim is denied and only the premium paid so far is returned to your beneficiary.
If you have breast cancer but your prognosis is favorable and you do not expect to die within two years, a guaranteed issue policy is ideal. Assured issue life insurance is available regardless of your health, while conventional and simple issue insurance may reject your application.
Life Insurance For People With A History Of Cancer
In the case of early-stage breast cancer, it may be necessary to wait several months to several years after treatment before obtaining traditional life insurance. Then, you will likely incur higher premiums for a longer period of time. About five years