Shopping for Term life insurance for Cancer survivors can be a little intimidating. If you currently have a form of cancer or ever had cancer in the past. Term life insurance for cancer patients and cancer survivors can be available still be available to you. The most accurate way to see if you qualify for coverage and at what cost. Is contact an experienced life insurance agent and have him run a medical pre-screen.
There is a medical questionnaire to complete which takes five minutes. Then your agent can contact the most applicable life insurance companies and run a pre-screen. I have seen many cases where a cancer patient was able to purchase life insurance policy at an affordable premium. It is going to depend heavily on what form of Cancer did you have and what was the stage it was first diagnosed.
Using multiple carriers in the quoting process is the best way to get the lowest premium. Choosing the correct company is imperative.
To be the most effective, your agent should have a number of carriers to choose from to run a medical pre-screen with. Then see what company comes back with the most positive offer as far as premium and acceptability goes. You can then proceed with the application process. There were over 1000,000 cases of Cancer reported in the year 2016 and more to be expected in 2017. Approximately 4 out of every 10 Americans will be reported as having this medical issue. The rate of people being diagnosed with Cancer has been going up steadily. The success rate in treating this medical condition has been going up also thanks to medical advancements and research. Finding the best life insurance for Cancer survivors with the lowest rates is much easier than in the past.
Some of the important concerns when medical pre-screening Cancer for a proposed applicant would be what size of any tumors in question.
What was the grade and stage of the Cancer when first discovered? Also did the Cancer cell reach the lymph nodes? If
you Cancer treatment have ended when were the last days of treatment. Also, the completion dates of your last treatment is very important? The insurance carriers will also need to know if you ever had a Cancer reassurance. Also, what medication did you take and are you still required to continue taking it. Term life insurance for Cancer survivors can cost much less than you think.
Common Types of Life Insurance Coverage
Term Life Insurance:
Low cost Term life insurance covers only a specific period of time before it terminates on the anniversary of the policy. It can vary from 5, 10, 15, 20 or 30 year intervals of time. Once these time periods have occurred, the policy is no longer active. Due to the limited time periods on these types of policies, they are the least expensive life insurance options. At the end of each time period, the policy can be renewed but it is usually too expensive. Since you do not know what the future has in store. It is a good idea to apply for the longest term period if at all possible. Term life insurance has the best life insurance rates of all plan designs.
Universal Life Insurance:
The price remains the same for the lifetime of the policy. As long as payments are made on time. The insured will still be covered under the terms of the contract. Universal Life has taken over as the go to policy design for people that want permanent coverage. Having life insurance designed to last the rest of your life gives total peace of mind and protection. Universal Life insurance is a product you should consider for individual life insurance.
Whole Life Insurance:
Whole Life insurance is very similar to Universal Life insurance only in the way it is a permanent plan design. The owner of the policy cannot change the amount of the premiums to change the amount of coverage. There is also a cash value attached to Whole Life based on an interest rate. You can actually borrow money on a Whole Life policy. If you do borrow money, the amount obtained after the insured’s death will decrease. Whole life is much more expensive than low cost Term life insurance.
Guaranteed Issue Life Insurance:
Guaranteed Issue Life Insurance is usually a last resort type policy. It is for people with serious pre-existing health conditions. Typically only $25,000 for death benefit is available but it can also be partially withheld. This is if the policyholder dies within two to three years of purchasing the insurance. This type of life insurance is in the high risk life insurance category.
Each policy design it’s different pros and cons that you have to take in consideration. There is no one perfect plan design for everyone. Everyones situation is a little different for their need for life insurance.
Getting the very best rates possible
Even if you are a cancer survivor, life insurance shouldn’t cost an arm and a leg. You should be able to get affordable coverage that you and your family deserve and can easily afford. There are several great ways that you can lower your monthly premiums.
Similar to being classified as overweight or obese. Being categorized as a smoker is going to cause your rates to go through the roof without a doubt. This is totally regardless of your health history. Smoking cigarettes will immediately cause your rates to double or even triple. If you want to lower your life insurance costs and save money on your new policy. Stop smoking as soon as humanly possible. It is time you quit smoking and clean up your health. Your overall health and your bank balance will thank you for it.
One sure fire way is to concentrate on your health. This is could mean doing several different thinks to help. Being overweight or obese is going to be one of the fastest ways to pay more money for life insurance. Before you consider applying for life insurance. Exercise and eat a could careful diet and lose some weight if you are indeed considered overweight.
Here are some specific forms of Cancer and how they are normally viewed by the carriers.
These forms of cancer each have their own specific medical underwriting factors which a life insurance carrier will review. Purchasing term life insurance for Cancer survivors is a much easier process that it was years ago. High risk life insurance for Cancer survivors can still be very affordable.
Skin Cancer: Basal Cell and Squamous Cell Carcinoma types:
Basal cell and Squamous cell Carcinoma are by far the most common types of skin cancer. It is diagnosed in approximately 90% of skin cancer patients. These skin cancers grow very slowly and are easily removed which is a very important and positive factor. If you’re in good health except for the Cancer, you will be likely be approved for standard Term life rates. The same will hold true for Universal life insurance also. The best life insurance companies usually have the best life insurance rates.
Skin Melanoma:
This can normally be a more dangerous form of the skin Cancer family. Melanoma cancers only appear in about 5-8%
of all skin cancer cases diagnosed. But can unfortunately account for the most skin cancer deaths. However, if it is diagnosed and treated early enough, there is a good chance of a totally full recovery. The main issue with melanoma is that it can metastasize. It can spread to other locations in the human body, including the lymph nodes and many of the major organs.
If the cancer has been completely removed by means of surgery, and you have been cancer free for one or two years. You may be approved for a Term life insurance policy or one of the permanent plan designs such as Universal life. You can also receive some of the best life insurance rates with no medical exam.
If the skin Cancer has spread.
If the skin Cancer has had time to spread and has been treated with either Chemotherapy or radiation treatments. Then it is possible you may have to be Cancer free for as long as 10 years. You can be eligible for a life insurance policy in less time but you will most likely have to pay a higher life insurance premium. Many cases of skin Cancer can be successfully treated and allow you to receive very affordable life insurance rates. Life insurance for Cancer survivors is based on a case by case basis.
Life Insurance & Breast Cancer:
If you are a breast Cancer survivor, the life insurance companies will need to know is. Whether you are in a full state of the Breast Cancer remission. The life insurance carrier will ask you questions such as the date you were first diagnosed with the Cancer. The types of medical treatments you received, how regularly you’ve been re-tested. Also how long you’ve been free of Cancer. The longer that you’ve been cancer free, the better your chances of getting approved for life insurance. It does not cost a penny to apply for the best life insurance quotes. The life insurance companies are the ones who pay for the whole application process.
Life Insurance & Prostate Cancer:
This is another very common form of Cancer in the US. The two main issues that a life insurance company will want to look at include your (PSA) levels. As well as your Gleason score too. The Gleason score determines how likely it is for the cancer to spread. If the level is low, the likelihood of the cancer spreading is much less which is great news.
The most important issue life insurance companies will be looking at is how long you’ve been cancer-free. Especially since your surgery or other medical treatment. If you’ve undergone regular testing and you are under the care of a doctor. If you also have a clean bill of health, you may be eligible for low cost Term life insurance.
Sometimes the wisest thing to do, is wait it out.
Attempting to apply for life insurance as a Cancer patient will normally not be successful. All you can do is waiting until you have completed your treatment and then apply for a policy. If you can remain cancer free, you may be able to lower your life insurance rates over time a period of time. However, your rate depends on the type of cancer you have, and how long you’ve been in remission. When shopping for life insurance for cancer patients. The most important thing you can do is provide the company with as much information as you can.
Here is some good strategy to get lower life insurance rates for Cancer patients:
Have your agent request Term life Insurance quotes from different companies. No two insurance companies are going to underwrite the same. Make sure you connect with an independent agent who can shop the complete market for you. He can compare rates and options on your behalf unlike a captive agent who only show you one company.
Don’t apply until after all of your tests. Life insurance companies want to know that your health is stabilized. If your tests show that you are in complete remission. You can potentially qualify for lower life insurance rates. Give it some time. The longer you have been in remission, the more likely you will receive lower rates. It can pay to wait a little while before you apply.
Other important things to know about life insurance for Cancer survivors.
The first and most important thing is to not be discouraged, even if you do have cancer. If you’ve been denied coverage before you’ve gotten past the waiting period, apply again after the waiting period. If you are a cancer survivor and have been in remission from your cancer for several years. There is an excellent chance that you can find an affordable Term life insurance policy.
Contact us with any questions you may have for free life insurance quotes. We can perform a pre-screen and take the mystery out of shopping for life insurance for cancer survivors and patients. Take a moment to read our about us page to learn more about us and our business. Instead of wasting valuable time, talking to many different agents, let us do all of that legwork for you. We can find the lowest quotes for you instead of you having to find them yourself. If you’re a cancer survivor and need to get affordable life insurance, give us a call today.
Cancer related technical information thanks to our friends at: WebMD, American Cancer Society, Cancer Treatment Centers of America
