A cancer diagnosis can be challenging for you and your loved ones, but cancer doesn’t automatically disqualify you from protecting your family with life insurance. To learn more about getting life insurance with cancer, continue reading.
Does Cancer Eliminate You From Life Insurance?
No. Someone who has been diagnosed with cancer can still get life insurance. Your options may be more limited, but you can find coverage that provides the necessary financial protection.
What Types Of Life Insurance Can You Get With Cancer?
The types of life insurance available to you will vary depending on when you were diagnosed, the stage of your cancer, and whether you’re currently in remission. The treatment plan you have in place can also impact your chances of qualifying for life insurance.
Generally, you’ll need to be in remission to qualify for term and whole life insurance policies. In most cases, you won’t have access to either of these options if you are still in treatment for cancer.
Instead, you need to buy a simplified issue life insurance policy. These policies allow you to skip a medical exam and instead answer questions about your health. A no-medical-exam life insurance policy will generally have higher premiums than other life insurance, but it beats having no life insurance at all.
Life Insurance For People With a Cancer Diagnosis
If you have a history of cancer, your eligibility for life insurance will vary. Factors that can affect your eligibility include the severity of your illness, the type of cancer, and how recently you received your diagnosis.
People who have overcome early-stage cancer or been cancer-free for more than five years are in a better position to qualify for life insurance. Though, people who have late-stage cancer will be far more limited in their ability to access life insurance.
If you have late-stage cancer, there is still one option left: guaranteed issue final expense insurance. These policies accept all applicants, but they do cost more. Guaranteed issue final expense plans also offer lower death benefits than traditional life insurance, meaning you’ll likely only receive enough coverage to pay for the average funeral or burial.
Life Insurance For People With Cancer
If you have or have had cancer, it can be incredibly difficult to find a life insurance plan that will accept you. That’s why you shouldn’t shop by yourself. Instead, get help from Senior Benefits and Health Services. We can help you find an insurance policy that gives your family the financial protection they need.
To get started with a free quote, call 844-657-0231.
