Last Updated: February 2021
Breast cancer is a common illness that our agency sees when we first talk with women trying to purchase high risk life insurance.
While some carriers will still decline life insurance coverage after breast cancer, there are several life insurance carriers that are very aggressive with underwriting breast cancer and can provide excellent rates and chances of being approved for coverage.
In this article, we will cover:
- Can You Get Life Insurance with Breast Cancer?
- Types of Life Insurance Available to People with Breast Cancer
- The Best Life Insurance Companies for People with Breast Cancer
- Underwriting: What Life Insurance Companies Will Ask About Your Breast Cancer
- The Type of Cancer You Have Affects Your Rates
- How to Apply for Life Insurance with Breast Cancer
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
It is possible to obtain affordable life insurance after completing your treatment for breast cancer. The life insurance companies will want to know how much time has passed since treatment and what stage the breast cancer was prior to treatment.
Can You Get Life Insurance with Breast Cancer?
With the advances in treatment, increasing awareness, and self-exams, we’re seeing more and more breast cancer survivors applying for life insurance and getting approved.
Life insurance for cancer patients or survivors is becoming more affordable. The good news is that some life insurance companies will give decent rates if it’s detected early and treated properly.
With many forms of cancer including breast cancer, heavy emphasis is placed on the time that passed since your last treatment and the overall outlook of breast cancer.
Typically, this is judged by the stage of cancer at the original diagnosis, the success of the treatment, and the prognosis and outlook moving forward following the treatment.
The life insurance companies are most concerned with the chances of cancer returning and overall survival rates.
With organized medical records detailing your cancer, you can relay this information to your life insurance agent and allow them to effectively shop rates on your behalf.
However, you do have certain questions that will come up during the application process, and the more prepared and organized you are during this phase of the process, the better off you will be.
Types of Life Insurance Available to People with Breast Cancer
Sometimes, when you apply for life insurance with cancer, you will need to consider other options such as guaranteed acceptance life insurance.
This can happen often if not enough time has elapsed since successful treatment or if your cancer was considered a higher stage or higher risk cancer.
Guaranteed issue is still a viable option of coverage that can get some protection in place for your family.
While you will need to undergo a full-two year waiting period before coverage is active, you will not have to undergo any pesky medical exam or have your breast cancer used against you.
The Best Life Insurance Companies for People with Breast Cancer
These three companies often have low rates for life insurance with breast cancer. However, it will depend on how you answer the questions below and what type of policy you qualify for.
- AIG (American General Life)
- Gerber Life Insurance
- Great Western Life Insurance
It is always best to compare multiple companies before purchasing. Work with an independent agent who is experienced in helping people with breast cancer find life insurance.
Fill out our quote form or call us to compare all the top-rated companies.
Underwriting: What Life Insurance Companies Will Ask About Your Breast Cancer
In order to find the life insurance company who will offer the most favorable rate, here’s what we need to know:
- Is there a certain type of breast cancer you have?
- Currently, what stage and or grade is the illness?
- What was the diagnosis date, and when was your treatment over?
- What did your treatment look like?
- Any metastasis or lymph node involvement?
- Do you know the size of the tumor?
If we are missing any information above, we can’t accurately shop for your case.
Proceed with caution if the agent you’re speaking with doesn’t want or ask for this information.
You cannot trust their quotes.
During prequalifying, if we can get a copy of the pathology report, it could help us a lot when we take a look at your options.
One thing that’s important to mention is that most companies will want some time to pass since you’ve had your last treatment.
The Type of Cancer You Have Affects Your Rates
Here’s what you can expect from a breast cancer life insurance underwriting standpoint.
Ductal Carcinoma In Situ and Lobular Carcinoma In Situ
- Standard to Table 2
- If young, there could be a flat extra for 1-3 years.
- Pru will go Standard Plus if over age 40.
No Lymph Nodes Involved or No Metastatic Disease:
- Stage 1, Grade 1: Flat extra of $5 to $8 for 1-3 years (depends on age & date of last treatment)
- Stage 1, Grade 2: Postpone 1-2 year from date of last treatment, then FE of $5-$15 for 2-5 years (depends on age & date of last treatment)
- Stage 2, Grade 1: Postpone 2-5 years from the date of last treatment, then FE of $5-$20 for 2-5 years (depends on age & date of last treatment)
- Stage 2, Grade 2: Postpone 3-5 years from the date of last treatment, then $7.50-$20 FE for 2-5 years (depends on age & date of last treatment)
One Lymph Node Involved
- Stage 2, Grade 1: Postpone 3-10 years then $7.50-$20 FE for 2-5 years (depends on age & date of last treatment)
- Stage 3, Grade 2, or 3: Postpone 5-10 years. If 5 years out, $15 FE may be possible. After 10 years, individual consideration.
Stage 4, Metastatic Disease and/or Extensive Lymph Node Involvement
- Postpone 7-15 years.
- $20+ FE, then individual consideration.
- You’ll want to look into graded death benefit plans.
Bottom Line: We’ve helped dozens of women find affordable life insurance with a breast cancer history. We know what companies offer the best rates and have relationships with underwriters to get you approved.
How to Apply for Life Insurance with Breast Cancer
Obtaining life insurance after breast cancer has become easier and much more affordable to obtain in recent years.
With proper planning, an agency such as Rootfin who handles cases involving breast cancer with frequency and some diligence comparing rates with several options, you may be surprised how much protection you can put in place without breaking the budget.
Compare rates with as many companies as possible to ultimately obtain the lowest rates and provide yourself with the best chances of being approved.
Also, be sure to check out our other guides below to learn more about how different types of cancer can affect life insurance approval and rates:
Hi Jeff – thank you for this site. Shopping for my wife Caroline, DCIS Dec 2013, 4mm sample, clean margins, no lymph nodes, clean annual mammograms ever since. Looking for rates on 20 or 30 yr level term, $150K to $250K depending on rates. Presently insured, looking to replace. I appreciate your help.
Hi Mark – We emailed you, just forgot to approve this comment! Feel free to call us as well – she’s insurable at affordable rates.