Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Yes, you can get life insurance after breast cancer, but you're going to want to shop the case among multiple carriers. Running a "free quote" on a website is not going to provide you with much useful information. With a medical history of breast cancer, the risk class carriers will offer is going to vary quite a bit between them. You're generally going to be looking at a substandard table-rating for coverage and most free quotes only provide rates for up to standard risk classes.
The type of cancer, stage of cancer, course of treatment, is treatment completed, how long since the last date of treatment, and any other medical conditions are some of the factors that will go into the underwriting evaluation by each carrier.
In general, most carriers will want to wait at least 2-5 years from the date treatment is completed for most cancer histories before they will consider offering any coverage (varies by carrier and type of cancer).
Guaranteed-issue whole life policies (GIWL) are available as they do not ask health questions and there is no exam. However, these are "graded" policies and generally feature a 2-3 year waiting (graded) period before providing full coverage (payment of proceeds when death of the insured occurs by illness or injury) - if the insured dies under accidental means during the graded period, the policy will still pay the full death benefit. GIWL policies generally feature a maximum face amount of $25,000 under a single policy.
With this type of medical history, you do NOT want to just go and apply to multiple companies at the same time - this can work against you. I highly, highly recommend consulting with an independent life insurance agent/broker who can shop the case for you.
The short answer is yes, you can buy life insurance after cancer. The type, amount and terms depends on the cancer itself and how long you have been cancer free after your last treatment. To get into the standard ratings after breast cancer practically all carriers will want to see you cancer free for 10 years. Anything less than 10 years will be a higher risk policy of either rated premiums or graduated benefits.
Yes, it is possible to get insurance after breast cancer.
There are a number of factors an insurance company would consider including: date of diagnosis, type and stage of cancer, size of tumor, type of treatment and date completed, recurrence or spread, reduced risks example smoking, any serious complications from treatment.
Typically underwriting can only be done once treatment is completed. Higher grade tumors typically 10 years after last treatment considered with a rating. Best case lower grade tumor standard after 3 years. Typical case 2 years after completion of treatment rated policy. (extra premiums for increased risk).
I recommend, especially when you suspect you might be rated for insurance, that you work with an experienced independent insurance broker.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
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The type of cancer, stage of cancer, course of treatment, is treatment completed, how long since the last date of treatment, and any other medical conditions are some of the factors that will go into the underwriting evaluation by each carrier.
In general, most carriers will want to wait at least 2-5 years from the date treatment is completed for most cancer histories before they will consider offering any coverage (varies by carrier and type of cancer).
Guaranteed-issue whole life policies (GIWL) are available as they do not ask health questions and there is no exam. However, these are "graded" policies and generally feature a 2-3 year waiting (graded) period before providing full coverage (payment of proceeds when death of the insured occurs by illness or injury) - if the insured dies under accidental means during the graded period, the policy will still pay the full death benefit. GIWL policies generally feature a maximum face amount of $25,000 under a single policy.
With this type of medical history, you do NOT want to just go and apply to multiple companies at the same time - this can work against you. I highly, highly recommend consulting with an independent life insurance agent/broker who can shop the case for you.
There are a number of factors an insurance company would consider including: date of diagnosis, type and stage of cancer, size of tumor, type of treatment and date completed, recurrence or spread, reduced risks example smoking, any serious complications from treatment.
Typically underwriting can only be done once treatment is completed. Higher grade tumors typically 10 years after last treatment considered with a rating. Best case lower grade tumor standard after 3 years. Typical case 2 years after completion of treatment rated policy. (extra premiums for increased risk).
I recommend, especially when you suspect you might be rated for insurance, that you work with an experienced independent insurance broker.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.