Life Insurance for Cancer Patients

Are There Any Limitations for a Guaranteed issue Policy?

Unfortunately, in most instances there will likely be a policy restriction known as a ‘Graded death Benefit’.  This means that the insurer has a restriction where they will not pay out death benefits to a beneficiary if you were to die in the first 2 years when the policy comes into effect. 

If you were to pass away in that time period, the beneficiary would only be entitled to receive the premiums that were paid up to the point of your death, and possibly some limited amount of interest (Varies form company to company).

Can a Cancer Patient Ever Qualify for Regular Insurance Policies?

The answer is yes.  As medical treatments continue to advance and more and more people survive, you can qualify for a regular insurance policy if you have been cancer free for at least one year (time frame may vary depending on the type of cancer and the insurance company).

As to whether you will be approved may depend on a number of variable such as pre-treatment stage and grade of cancer, the type of treatment you received,  type of cancer, and post treatment follow up results.

The longer that you have been in remission and the healthier you are then the better your chances will be at receiving approval.

In order to qualify for regular coverage the life insurance company will want to be able to obtain the following information:

  • Date the cancer was diagnosed
  • Medical and treatment records from all your physicians
  • How well you followed up on medical recommendations
  • Pathology report from your Oncologist
  • Medications you are currently taking
  • Other medical conditions that may impact your health
  • Date you were last treated
  • Follow-ups 

Where Can I Find an Affordable Policy if I Have Cancer?

You always want to talk to an independent agent like myself.  We can access and research dozens of companies so you are assured we will find the best policy at the most affordable rates.  If you have health concerns, don’t let that dissuade you because we can give you valuable advice and help you to find a policy that suits you.

Whatever your needs or questions then please call me direct at 877 – 966 – 9383