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Finding Life Insurance with Colon Cancer
Finding life insurance can be a daunting task. If you have colon cancer it can be that much more difficult to find life insurance.
But this doesn’t mean that you’re going to automatically be denied coverage for traditional term life insurance or whole life insurance policy, all it really means is that you’re going to need to be more selective in who you choose to apply with.
In this article the 4 things we are going to cover are:
- Can you get life insurance with colon cancer?
- How much does life insurance cost with colon cancer?
- What is the process to apply for life insurance?
- What if you have already been denied coverage due to colon cancer?
Can you get life insurance with colon cancer?
Yes, you are able to qualify for life insurance if you have or have had colon cancer.
You can expect that the life insurance company will likely have more questions for you around your cancer. You can expect questions similar to:
- When were you diagnosed?
- What stage was/is it in?
- What treatments are/did you undergo?
They will ask you more questions to learn more about you. This will help them in assessing if you are eligible for life insurance and how much it will be.
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How much does life insurance cost with colon cancer?
There are many variables that are considered by the insurance company when determining how much you will pay for life insurance. Things such as age, health, gender, and lifestyle just to name a few.
If you have had colon cancer or currently have it, you likely won't be able to qualify for the cheapest rate. You can still qualify for affordable life insurance coverage.
The severity of the cancer is going to play a big role in the decisions that the insurance company makes. If you have a severe case you may want to consider guaranteed issue life insurance.
While this coverage can be a little more expensive than traditional coverage, your health won't be factored into any decisions. In fact, as long as you are in the approved age bracket (which varies by company but is typically 45-80) and you are a U.S. citizen you can qualify for this type of coverage. While this coverage is generally for a lesser amount than traditional coverage, it is a great way to ensure that you have coverage.
The type of life insurance you get and the amount of coverage will also determine the final cost of your policy.
The type of life insurance policy you choose can also determine the process. As mentioned above the process for a guaranteed issue policy is pretty simple. However, if you qualify for traditional life insurance or a no exam policy the process will be a bit different.
With a traditional policy, you can expect a more in-depth process. You will be required to take a life insurance medical exam. In this process, the examiner usually comes to your home. They will look at things such as height and weight. They will also take a blood and/or urine sample. The life insurance company can also get your medical records and a copy of your prescription lists. That list will include any current or previously taken prescriptions. The company will then use all the information they have gathered and determine whether you qualify for life insurance and how much it will be.
If you are worried about the medical exam, see if you can go with a no medical exam policy. This will allow you to skip the exam, but you will need to answer some health-related questions.
If you have been denied coverage from an insurance company, don't worry. You can still have other options. The key here is to know the right life insurance company to apply with and to know your policy options.
Speaking with a life insurance agent can be beneficial. They can help you find the right company and the right policy for you and your family.