Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Life insurance pays a death benefit when an insured person dies. There isn’t any exclusion in modern policies against cancer. It is precisely the sort of thing that the insurance is designed to cover. It is random and can be fatal. The life insurance does not pay for medical treatment for cancer. The cash value of a permanent policy can be borrowed to assist with medical expenses.
President, Lane Independent Agency, Southern California
To clarify, Life Insurance is not Medical Insurance, and will not cover most treatments. But, there is a very important exception. If you obtained life insurance before coming down with a major illness, it will cover you with a death benefit, but MORE IMPORTANTLY FOR MOST PEOPLE, if there is a new, or experimental medical treatment which may save your life when you are diagnosed with a deadly illness, and have less than a year to live, and your medical insurance will not cover the treatment, or you do not have the money to cover that treatment, YES, life insurance with some of the best companies will actually cover that treatment for you. It will reduce your death benefit, but which would you rather have, a large death benefit, or your life? Great question. Thank you. GARY LANE.
That is a great question! If what you are asking is if your passing from breast cancer will keep your life insurance from paying out, it won't. That said, it will not help pay any of your current bills, unless you are borrowing out of it, or are exercising the accelerated benefits clause because you've been told that you are terminal. If your life insurance is an accidental death and dismemberment (AD&D) policy, then you are in trouble, they do not pay for illness, or sickness, unless they were a direct result of an accident. If you need to talk to someone about this, please contact me. I'll make the time for you. Good luck, and thanks for asking!
There is usually some type of life insurance policy you can get after being diagnosed with breast cancer. If you get a policy that covers you, either after disclosing that you have breast cancer, or because they did not ask (i.e. guaranteed issue life insurance), yes, it will cover death from breast cancer or any other illness or accident.
If you got a life insurance policy before having any idea that you were going to be diagnosed with breast cancer, the policy also will cover death due to breast cancer. We hope that the breast cancer never results in death. But if it did, you would be covered.
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If you got a life insurance policy before having any idea that you were going to be diagnosed with breast cancer, the policy also will cover death due to breast cancer. We hope that the breast cancer never results in death. But if it did, you would be covered.