If you are among the majority of cancer patients, surviving for at least five years after your diagnosis, then you may find yourself facing another fight in buying life insurance. There is no doubt that buying life insurance can be challenging for cancer patients. However, there are a few things you should know to help you in obtaining life insurance after cancer.
First, be aware that your chances of receiving a life insurance policy will depend on several factors, including the type, stage, and grade of your cancer. Even your treatment plan can affect whether or not you’re able to secure life insurance. There will definitely be a relationship between the rate you’ll receive and the how curable your cancer is perceived to be. You should definitely read all the mortgage life insurance quotes so that you get the idea what are the terms and conditions of the insurance policy that you have opted.
When insurance companies are reviewing applications, applicants with common or easily treatable forms of cancer may be able to get a standard rate for their life insurance policies.On the other hand, applicants with colon cancer or a history of leukemia may receive substandard rates or even have their application declined. If you have cancer that has metastasized then you may not be able to get a life insurance policy.
With all this in mind, it is important to note that life insurance companies will use sophisticated tables to determine what your insurance premiums will be and in that analysis they will take into consideration your treatment and cancer type. These tables result in better premiums for all applicants because it ensures that applicants will not all be lumped together but considered individually.
If you are currently undergoing treatment for your cancer, please be aware that most insurance companies will not offer a life insurance policy while you’re undergoing treatment. Some companies will offer you a policy, but then charge a surcharge called a temporary flat fee depending on the cancer type and treatment. These fees may be expensive, but they are almost always discontinued automatically after a set period of time.
Before you begin looking for life insurance, you should be sure to gather as many of your medical records as you can. You’ll want records of everything from the initial pathology report to the medical and treatment records so that you can give the insurance underwrites the most complete view of you, your cancer history, and your overall health. The more information you can provide them, the better your premiums could be in the end. Most underwrites will assume that you are high risk in the absence of complete medical records.
Also make sure that you have a list of your doctor’s treatment plans. A life insurance company is probably not going to offer you insurance without seeing results from a recent check-up. At the same time, be sure that you are going in for all of your scheduled check-ups so there are no gaps in your treatment.
As with anything, you’ll want to get several price quotes for different insurance companies so that you can determine the best deal based on the policies terms. The costs of an insurance policy can vary greatly from company to company so be sure to shop around. And don’t rule out applying for a group life insurance policy. These are sometimes available through fraternal, professional, membership-based, and political organizations so check with any organizations that you are a part of to see what your options are.
If you’re currently looking for life insurance, you may want to find an insurance broker that specializes in finding life insurance policies for people with a history of cancer. These brokers can help you in your search and they will know the specific questions that underwrites will ask during the application process. Quite a few of these brokers will even have special relationships with a few insurers and that can help in getting you the best price on your life insurance policy.
Don’t despair if you’ve been through a battle with cancer. Life insurance can still be available to you. If your cancer has been successfully treated and your health is otherwise good then you have a very good chance of obtaining life insurance if you have all the facts.