What Exactly is Cancer?
Cancer is the unrestrained cell growth of any malignant tissues or tumor. The affects of cancer can ravage virtually any organ. Cancer is second only to cardiovascular disease as the leading cause of death. Some cancers are viewed as more serious than others and the level of severity and recovery will be the deciding factors to assess mortality risk.
What Specific Factors Are used to Determine Insurability After a Cancer Diagnosis
Qualifying for a life insurance policy after a cancer can be complicated, but still possible. When evaluating a cancer survivor's risk for life insurance, the following factors will be carefully considered by the carrier's underwriters to determine insurability and rate. Underwrtiers will review for supportive evidence that you are either stable with treatment and are under a physician's monitoring or have bren givin a clean bill of health since the last treatment or occurance.
- What is the date and type of original diagnosis?
- What is the specific type of cancer or organ of origin?
- What is the grade or aggressiveness of the cancer?
- What Stage is/was the cancer in or amount of tumor cell growth spread did you experience?
- When and what type of treatment did you receive (surgical removal, radiation therapy)
- Date of last treatment
- Evidence of any re-occurrence
How You can Locate a Life Insurance Company For Cancer Survivor
Many Life agents are experts in researching what carrier's concentrate on writing clients who have impaired health risk such as cancer and what questions and support materials will be needed prior to submitting the application. They can assist you by directing you to those carriers and carrier guidelines that will give careful consideration to your specific criterion and measure it against their current sub-standard table ratings in order to get you approved at a favorable rate. All carriers have their own table ratings for each impaired risk case. Additionally not all insures offer life insurance to clients with health issues.
How Can You Assist in Obtaining a Favorable Underwriting Outcome
- Disclose all details associated with condition and treatment by completing a preliminary life insurance application or condition specific preliminary questionnaire by phone with your agent. We understand the information is personal and confidential and we are only inquiring for the purpose of locating a potential carrier prior to the application process to insure you get the best offers and we direct you to the proper carrier to avoid a decline.
- Consistent follow-up care after the treatment for cancer has taken place allows us to get the best picture of the condition.
- Gather all physicians, addresses, and dates and purpose of visit or treatment.
- The more details you provide to your agent for the application and underwriter interviews the more likely you will receive a favorable rating, anything unclear will leave the possibility of a decline or higher rating table.
- If the cancer was a more serious case be prepared for in lab exams or PSA reports otherwise if it has been treated and has been 5 or more years since all clear a normal medical exam requirements will be sufficient.
What Life Insurance Underwriting Outcome Should You Anticipate After a Cancer Diagnosis?
Less serious cancer risk such as some skin cancers, and early stage cancers without further growth may qualify second through third year with a table rating of B though D. Many cancers can be standard after a 5 to 7 year period from the date of the last treatment. Prior to that in years 2-5 expect flat extra ratings of anywhere from $5.00 to $15.00 per thousand. You should avoid applying for coverage if your treatment has ended within the last 12 months or has metastasized (grown or expanded) it will likely result in a decline. A common sense approach to the offer can be expected if your health has stabilized and all treatments have been completed and well documented.
