Securing life insurance with a bladder cancer history can be frustrating if you don’t use an insurance agent experienced in this risk. We’re here to help make your life, specifically your life insurance buying process, a little easier.
In this article we’ll cover:
- Commonly Asked Questions When Buying Life Insurance with Bladder Cancer History
- Are Preferred Rates Possible?
- What is a Flat Extra?
- What Will I Be Asked on My Life Insurance Exam?
- Bladder Cancer Treatment Options
- The Various Bladder Cancer Rating Systems
- How Do I Get Approved for Life Insurance with Bladder Cancer?
- Best Life Insurance Companies for Bladder Cancer
- Next Steps for Obtaining Life Insurance Coverage with Bladder Cancer
Commonly Asked Questions When Buying Life Insurance with Bladder Cancer History
We’ve helped many of our clients who have a history of bladder cancer secure affordable life insurance coverage. Here are some of the most frequently asked questions we get asked during this process.
Are Preferred Rates Possible?
The short answer is yes! Preferred life insurance rates (some of the best rates issued by an insurance company) are available to individuals who have had their 15-year anniversary of being cancer free.
On the flip side of that, if you currently have bladder cancer or have not yet had your one-year anniversary of being cancer free, you won’t qualify for traditional life insurance. You can, however, qualify for graded death benefit policies. These are life insurance policies at a lower death benefit that have a two-year waiting period before any benefits payout.
Since the recurrence rate of bladder cancer is high, insurance underwriters want to see that you have a routine follow-up with a urine cytology test and/or cystoscopy procedure. Those with the greatest risk for recurrence are those with tumors that are large, high grade (II & III), or those with multiple tumors.
Those who show consistent follow up will be offered better rates than those who don’t have consistent follow up with their doctors. Underwriters also like seeing that the bladder cancer was detected and treated in the early stages.
The best case scenario for someone with a history of bladder cancer is preferred rates, while the worst case is a flat out decline (as is the case if you still have bladder cancer). Most people will land somewhere in the middle. Depending on the severity of the cancer and the type of treatment, some insurance companies will issue a flat extra.
What is a Flat Extra?
A flat extra is an amount in addition to the insurance premium that is added by the insurance company. It can be temporary or permanent. Flat extra amounts range from $5 to $15 per $1,000 of coverage. The amounts in the chart below reflect the flat extra as annual amounts. If you pay insurance premiums on a monthly basis, simply divide the amounts below by 12 to find the monthly amount.
What Will I Be Asked on My Life Insurance Exam?
The process of buying life insurance can sometimes feel intrusive, but bear in mind, life insurance underwriters ask specific medical questions in order to understand your health history. In addition to asking you the questions below, we’ll obtain an APS (Attending Physician’s Statement) from your doctor’s office(s) to confirm those questions. It’s best to be as upfront and honest with us as possible, as this will help us determine the best insurance company fit. Here’s what we’ll need to know about your bladder cancer:
- How was the cancer treated?*
- What was the date your treatment was completed?
- Have you been taking any prescriptions?
- What stage was the cancer?**
- Were lymph nodes involved? If yes, how many?
- Have you been told there’s been any recurrence?
- When was your last cystoscopy and urine cytology?
- What were those results?
In addition to the above questions specific to bladder cancer, you’ll also be asked general health questions such as your height and weight and if you’re a smoker.
Bladder Cancer Treatment Options
*Bladder cancer treatment may have included one of the following:
- Endoscopic resection
- Endoscopic resection and chemotherapy instilled in the bladder
- Radical cystectomy
- Radiation therapy
- Systemic chemotherapy
The Various Bladder Cancer Rating Systems
**There are numerous rating systems on bladder cancer, so we’ve created a table to make things easier.
|Stage 0 (In Situ)||In-Situ or 0||Tis|
|Stage III||B2 or C||T2N0M0
|Stage IV||D1 or D2||T3BN0M0
How Do I Get Approved for Life Insurance with Bladder Cancer?
Once we have your health questions answered, we will email your information (without your name or any other identifying information attached to the file) to multiple life insurance underwriters to the insurance companies that we know will view your bladder cancer most favorably. We’ll compare the responses and rates and go from there.
The great part about this process is it secures you a tentative life insurance approval – meaning that if everything is as you said it was and nothing different comes back in your medical records/APS, then this is the rate you get. The life insurance company cannot give you a higher rate unless they found some concerning or contradictory information. This is why we ask you to be as transparent as possible when speaking with us. We are on your side!
The last thing to remember, if you get the insurance premium offered to you doesn’t fit your budget, you have the right to walk away from the process with no obligation to purchase. You won’t hurt our feelings – we completely understand.
Best Life Insurance Companies for Bladder Cancer
Mutual of Omaha
One of the best life insurance companies for bladder cancer is Mutual of Omaha. They offer preferred rates to individuals who are 15 years post-cancer treatment and standard rates to individuals who are 10 years post-cancer treatment. The caveat is that the cancer must have been superficial (consisting of papillary tumors that are mucosally confined (Ta)), and were grades I & II only, consisting of no more than two lesions.
Transamerica is also one of the best life insurance companies when it comes to bladder cancer. They offer preferred rates to non-smokers who are at least five years post-cancer treatment. For more severe cases of cancer, a 10-year waiting period is required.
We understand the process of buying life insurance with a complicated health history can be a daunting process. We have years of experience helping those with a history of bladder cancer get the life insurance policies they need at affordable prices and would love to do the same for you.
Since we work with so many different life insurance companies, and they all have different ways of assessing risk, we’ll help you apply with the company that will look most favorably at your risk.
Next Steps for Obtaining Life Insurance with Bladder Cancer:
- Complete the quote form on this page
- Complete this contact form OR
- Call us at (888) 430-7668