Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Does life insurance cover cancer? Life insurance is not health insurance, you may have your type of insurance confused. Does life insurance continue to cover you if you get cancer? Yes. Will life insurance pay if you die with cancer? yes. Is it hard to get insurance after you've had cancer? Yes. Get your life insurance before stuff happens to you.
Some life insurance policies have critical illness riders or an accelerated death benefit rider. If your policy has either of those then you may be able to access a portion of the death benefit while you are still alive. Have a good local agent check over your policies with you to determine if either of those are available.
Life insurance pays a death benefit regardless of the cause of death, including cancer.
Some policies include an acceleratd death benefit that allows you to access a portion of the death proceeds if you have a terminal condition. In most cases death must be expected to occur withing 2 years of taking out the "loan".
Yes, life insurance covers death by cancer, as well as death by every other illness. It also covers death due to accident or "old age". You do need to get the policy before you have cancer, or after your cancer has been in remission for some time, or you will be ineligible.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
Life insurance pays a death benefit to the beneficiary no matter what the cause of death is - as long as the policy is beyond the contestability period. So yes life insurance will "cover" death from cancer.
Many life insurance companies offer a critical illness rider that will pay out up to 90% of the death benefit to the insured in the case of a critical or chronic illness where the insured is not expected to live beyond a year or two. In that case terminal cancer would be "covered" as well.
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Some policies include an acceleratd death benefit that allows you to access a portion of the death proceeds if you have a terminal condition. In most cases death must be expected to occur withing 2 years of taking out the "loan".
Many life insurance companies offer a critical illness rider that will pay out up to 90% of the death benefit to the insured in the case of a critical or chronic illness where the insured is not expected to live beyond a year or two. In that case terminal cancer would be "covered" as well.