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Life Insurance with Breast Cancer.
If you are a breast cancer survivor then you need to read this. There are three important questions you need to ask are:
- Can I get life insurance as a breast cancer survivor?
- What will life insurance cost as a breast cancer survivor?
- What is the life insurance application process like for a breast cancer survivor?
Let’s begin with a brief overview.
The term “breast cancer” refers to a malignant tumor that has developed from cells in the breast. Usually breast cancer either begins in the cells of the lobules, which are the milk-producing glands, or the ducts, the passages that drain milk from the lobules to the nipple. Less commonly, breast cancer can begin in the stromal tissues, which include the fatty and fibrous connective tissues of the breast.
Can I get life insurance as a breast cancer survivor?
The quick answer is, YES. However, breast cancer does put an applicant into the high risk life insurance category. Therefore, it pays to know what a carrier will inquire into.
Ultimately, approval will depend on:
- the stage of the breast cancer,
- if it metastasized,
- what type of treatment you received and
- the date of your last treatment.
The breast cancer’s stage refers to how far the cancer cells have spread beyond the original tumor.
If you currently have breast cancer then you would want to consider a burial life insurance policy where there is no exam and no health questions. You can learn more by checking out our top burial and final expense insurance companies article.
What is the cost?
This is a tough question to answer because life insurance companies have about 16 different rate classes. What rate class you qualify for, and the type of life insurance policy you choose, will determine your life insurance cost. This is particularly true for breast cancer survivors since most insurance companies will follow very similar underwriting guidelines when approving an application for a fully underwritten term or whole life policy.
Typically what you will find for most breast cancer survivor applicants is that after a few years since the last date of treatment, most stage 0 or 1 clients will come back at a standard rate class. However, due to the unique nature of these applications, it is best for you to call us to find out exactly where you will fall on the rate class spectrum.
Once again, if you currently have breast cancer then you would want to consider a guaranteed issue life insurance policy where there is no exam and no health questions.
What is the process?
If you currently qualify for life insurance you can go the route of a fully underwritten life insurance policy. A fully underwritten life insurance policy requires a medical exam. The examiner typically comes to your home and checks your height and weight and takes a small blood and urine sample. Your lab results are then processed. The carrier will request physician statements and look into your medical records. The carrier will also do a prescription database check to see what medications you are currently taking and have taken in the past. An underwriter will then assess your “risk” level and give you a rate class assigned to your specific risk. Your assigned agent at TermLife2Go will then follow up with you and let you know of your approval.
The entire process is handled by us so you can just sit back and wait for the life insurance carrier to complete your file. Speaking of life insurance carriers, not all life insurance carriers are the same!
Not all life insurance carriers are the same.
The life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. It is important to know these niches and it is important the agency you chose has the freedom to choose from multiple life insurance carriers. As a consumer, it is in your best interest to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different companies available. Only by doing this can you insure that you are getting the best policy tailored to your specific needs.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
So what are you waiting for? Just give us a call!