Last Updated: February 2021
If you’re a cancer patient or cancer survivor, trying to obtain life insurance can be very intimidating. However, most people with cancer can get affordable life insurance if they find the right company.
We’ve helped hundreds of people with cancer find affordable life insurance policies. Below is our archive of articles, to help you learn more about the different options you have for life insurance with cancer.
In this article, we will cover:
- Can You Get Life Insurance with Cancer?
- Finding Life Insurance with Different Types of Cancer
- Underwriting: What Life Insurance Companies Will Ask About Your Cancer
- How to Apply for Life Insurance with Cancer
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
Finding affordable life insurance rates with cancer is possible. Finding the right company that will view your risk the most favorably is key. We have articles below on how different types of cancer affect life insurance rates. Working with an independent life insurance agent and comparing quotes for multiple companies is the best way to find the lowest rates.
Can You Get Life Insurance with Cancer?
Yes. However, depending on the type of cancer and severity, you may not qualify for certain types of life insurance.
Life insurance for cancer patients is considered an area of high risk life insurance because the companies are taking on more risks with these applicants. As a result, it is typically more expensive and harder to find a policy.
Most people with cancer can qualify for guaranteed acceptance life insurance, which is more expensive and has a 2-year waiting period. If you are in remission, it is possible to qualify for a cheaper policy.
Finding Life Insurance with Different Types of Cancer
We’ve written about six of the most common types of cancer we see in the life insurance industry. For each type, we’ve helped dozens of people find a life insurance policy. Read the article to find out how.
- Life Insurance with Skin Cancer – If you have or have had any of the above types of cancer, this article will help you to figure out exactly how to proceed.
- Life Insurance with Breast Cancer – Breast cancer is one of the most common types of cancer and also has one of the highest rates of survival. Because of this, affordable rates for breast cancer survivors are still a reality.
- Life Insurance with a Family History of Cancer – Many people don’t have cancer but have a family history of cancer, which can also affect life insurance rates. We have included more information about how to address this in this article.
- Life Insurance with Prostate Cancer History or High PSAs – Prostate cancer is very common and usually easily treated these days. Prostate cancer survivors are still very eligible for great rates, as long as you follow the advice we’ve given in this article.
- Life Insurance with Bladder Cancer – Bladder cancer has a few unique things about it when it comes time to get insured, but affordable rates are still available. Find out how here.
- Life Insurance with Colon Cancer – Colon cancer can be very serious, but it doesn’t mean you’ll never be able to get a fair priced policy. Find out how you can get yourself an affordable policy even if you’ve had colon cancer in the past.
- Life Insurance with Testicular Cancer – Testicular cancer can be scary enough without having to think about how you’ll get approved for life insurance. Find out how you can still get an affordable premium, despite having had testicular cancer.
Underwriting: What Life Insurance Companies Will Ask About Your Cancer
If you have cancer, or have had cancer in the past and are currently in remission, then trying to obtain life insurance can be a scary proposition. Many cancer survivors believe it is impossible for them to ever be able to get approved for life insurance benefits with premiums they can actually afford. The good news though, is that there are many companies out there who are more than willing to work with you.
You will need to Answer Health Questions
You will, of course, have to answer some questions about your health, but that goes for any type of life insurance, regardless of whether or not you had cancer.
The life insurance underwriting process for a cancer survivor will be much more involved than for an average person, but don’t let that scare you off. It is actually during the underwriting process that you can convince the insurer to give you coverage at an affordable rate.
They will want to know.
- What type of cancer do you have?
- When were you diagnosed?
- What stage is your cancer?
- How long have you been in remission? (if applicable)
- What treatments have you received?
The Type of Cancer You Have Affects Your Rates
Of course, one of the most obvious questions is going to be which type of cancer you had.
More common and easy to treat types of cancer, like breast cancer or skin cancer, won’t affect your premiums as much as a more serious type, as brain cancer would.
For example, if you had skin cancer that was detected and treated early, and the cancer hasn’t returned in years, you might not notice any difference in your rates at all.
Have You Experienced Other Health Problems?
Another question life insurance companies will ask is whether or not your cancer had any drastic effect on any other medical issues.
Sometimes cancer can cause complications for other issues, and if that’s the case, getting an affordable premium will be much more difficult. Finding life insurance with heart conditions on top of cancer, for example, can be more challenging. If you smoke, finding life insurance for smokers with cancer will also increase your rates significantly.
If you haven’t had any other complications and have already been in remission for years though, then you will see much more favorable treatment from the insurers.
How to Apply for Life Insurance with Cancer
There is no one specific company that we recommend over any others for current or former cancer patients.
Some life insurance companies are known to give low rates to people with breast cancer, while others have good policies for prostate cancer. It really depends on your type of cancer, age, overall health, and a number of other factors.
We do recommend knowing what you’ve got ahead of you before beginning the underwriting process. This includes knowing the types of questions you’ll be asked, and how to answer them.
There are ways in which you can answer their questions about your medical condition and your diagnosis, that won’t necessarily cause your rates to spike. This doesn’t mean you should lie to the underwriters, but if you can answer their questions truthfully, and in a way that won’t cause your rates to spike, that is of course preferable.
How to Find Low Life Insurance Rates with Cancer
Most people don’t know how to find the best policy on their own, which is why we recommend contacting one of our experienced independent life insurance agents directly to talk about your options.
Our agents can go through this underwriting process with you and help you to answer the questions in the right way. They can then take your answers and shop around for quotes for you. The result is, you get many different options to choose from, all of them at rates that are lower than you are likely to be able to obtain on your own.
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