Although purchasing life insurance after a cancer diagnosis is difficult and expensive, you will most likely be able to do so. However, it would be best to consider whether the pricing and coverage options are appropriate for your financial circumstances. Cancer patients are usually only eligible for assured issue policies with limited coverage and payouts for the first few years.
Life Insurance For Cancer Patients and Survivors
Cancer survivors or patients who have been in remission for two to five years are more likely to qualify for a typical term or permanent life insurance policy. However, rates will be greater, and certain types of cancer may be omitted.
Both term and permanent life insurance policies cover cancer. If you die of cancer during the coverage period, your beneficiaries will get the death benefit. The only insurance that does not cover cancer is accidental death and dismemberment policies, which only payout if you are harmed or die due to an accident.
Whether you're a survivor or in treatment, it's vital to be honest with your insurer. when seeking cancer life insurance
Things Insurers Consider
Many insurers won't accept you for a policy until you've been diagnosed or treated for a few years. It depends on a few aspects if you can receive life insurance as a cancer patient:
It will be more difficult to qualify for coverage if your cancer history is complicated. More serious diagnoses, more recent diagnoses, and more treatment rounds will certainly increase your rates.
Non-melanoma skin malignancies such as basal cell carcinoma and squamous cell carcinoma frequently have exceptions.
Insurers will raise red flags if you are a current cancer patient, have a family history of cancer, or are in cancer remission, but not every cancer diagnosis will have the same impact on your life insurance. With the help of an impartial broker, you may compare coverage to see which insurance is the best fit for your full personal profile.
At Roper Insurance Services, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get insurance that fits your needs. You can get more information about our products and services by calling our agency at (828) 697-6709. Get your free quote today by CLICKING HERE. Any coverage discussed is not guaranteed. Please contact us today to go over your policy to ensure your needs are met! We are here and happy to help.
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