One thing that you can always count on is that once you’ve been diagnosed with a pre-existing medical condition, particularly if it’s a serious one like colorectal cancer, your life insurance application is going to get more complicated than it would be, had you NOT been diagnosed with colorectal cancer.
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.
Or in other words…
You’re going to want to make sure that the agent that you choose to work with is not only familiar with your condition, but also that he or she also has access to dozens of different life insurance companies so that you don’t have to rely on any ONE company when it comes to trying to find the best life insurance policy for you.
It’s obvious that having been diagnosed with colorectal cancer is going to play a major role in the outcome of your life insurance application, but so are a ton of other variables. Some of these variables will be health related, while others may have nothing to do with your actual health what so ever!
Life insurance companies are also going to be interested in your:
- Driving record,
- Immediate family medical history,
- Occupation (Do you have a dangerous occupation?),
- Hobbies (Do you have a passion for jumping out of airplanes?),
- Travel history (Do you travel to any dangerous destinations?),
- Etc, etc…
Each of these and many more factors may play a role in the outcome of your life insurance application, we just won’t know WHICH until we ask you a few questions about each.
And it will be…
The answers that you give combined with our knowledge of how certain life insurance companies “view” individuals who have been diagnosed with colorectal cancer that will allow us to help guide you to a a insurance company that we feel will give you the greatest opportunity for success.
But this can only happen…
If our agents here at TermLife2Go are well trained AND the have access to dozens of different life insurance companies which is something that something that we pride ourselves on here at TermLife2Go.
Now that we got that out of the way, let’s take a moment and actually talk about what the process of applying for a traditional term or whole life insurance policy will look like after you’ve been diagnosed with colorectal cancer and shed some light on what you may or may not be able to qualify for. To being our discussion we want to first start off by actually defining what colorectal cancer is and who is at risk.
So, what is Colorectal Cancer?
Colorectal cancer is cancer that affects either the colon or the rectum!
Who is at risk?
Colorectal cancer is a fairly common kind of cancer affecting nearly one in twenty. And while woman are slightly more likely to be diagnosed with colorectal cancer, it is important to understand that colorectal cancer is the third most common type of cancer in the united states!
Types of Colorectal Cancer.
Benign vs. Malignant.
Just like other types of cancer, colorectal cancer can be either benign or malignant.
Benign: this means that the tumor is “generally” not going to be considered a big deal because benign cancers or tumors are ones that generally won’t metastasize to other parts of the body. In some cases, the benign colorectal tumor can be so small your doctor may not even want to remove it.
However, if it is larger, your doctor may recommend to remove it – after which you’ll generally not experience any type of negative symptom associated with having had it.
Most life insurance companies will not be too concerned about an individual who has been diagnosed with a benign colorectal tumor, however if you been diagnosed with multiple benign tumors or seem to have a propensity for developing them, this could play a role in the outcome of your life insurance application. It could also keep you from qualifying for a Preferred rate.
Malignant: Malignant tumors on the other hand are the “types” of cancers that most people including insurance companies can get worried about. This is because, malignant tumor “tend” to grow, and have the ability to metastasize to other parts of the body.
In the case of colorectal cancer, malignant tumors can and often will spread throughout the colon and rectum and possibly to other parts of the body if not caught early enough. Which is why, it is imperative to get treatment as soon as possible.
Now at this point…
We like to remind our readers that we here at TermLife2Go are not medical professionals, and we’re certainly not doctors! All we are is a bunch of life insurance agents who happen to be really good at helping folks who have been diagnosed with a pre-existing medical condition find a quality life insurance policy that they may be able to qualify for.
If you have any specific medical questions or are concerned about your health in any way, please quit reading this article and call your doctor! After all, we’re probably the least qualified to answer any medical questions what so ever.
If all you’re looking for is help finding a life insurance policy that you can qualify for, well then, keep on reading cause that’s what we’re really good at!
Qualifying for life insurance after being diagnosed with colon cancer.
Stage Zero Colorectal Cancer.
This is the earliest possible stage of detection. In cases like these, there may not even be a visible tumor and the cancer is likely still only occupying the inner layer of the colon or rectum (almost never both).
Qualifying for life insurance after beating stage zero colorectal cancer.
Will usually not be all that difficult to do. In fact, you may even be able to qualify for a Preferred rate once the insurance company is able to verify that you are not completely cancer free.
But we should…
Point out that qualifying for a “Preferred” rate is really difficult even if you haven’t been diagnosed with stage zero colorectal cancer! So, while it is “theoretically” possible for someone who has been diagnosed with stage zero colorectal cancer to qualify for a Preferred rate, chances are they won’t.
Why is that?
It’s because MOST people aren’t able to qualify for a Preferred rate, regardless of whether or not they’ve been diagnosed with cancer in the past! Things like one’s:
- Body mass index,
- Blood pressure values,
- Cholesterol levels,
- Or blood sugar levels,
Are usually to blame for why someone isn’t able to qualify for a Preferred rate, however it could be one of a 1000 different reasons why you may not be able to qualify so don’t fret it you don’t qualify for a Preferred rate, it’s not the end of the world.
Stage 1 Colorectal Cancer.
This means that the cancer has gone through the inner layer but is still in it’s very early stages. At this stage, the cancerous cells may not have actually entered into the colon or rectum. Colorectal cancers diagnosed in stage one have a very high recovery/survival rate which will be reflected in the life insurance industries “openness” to insure someone who has been diagnose with stage 1 colorectal cancer and has gone into remission.
Qualifying for Life Insurance with Stage 1 Colorectal Cancer.
Yes! It’s definitely possible to qualify for a traditional term or whole life insurance policy after you’ve been diagnosed with colorectal cancer, stage one.
You may be asked to wait up to six years before applying, but in some cases you can apply right away. It really depends on your particular circumstance and health reports.
Stage 2 Colorectal Cancer.
It’s during this stage that cancerous cells appear in your actual colon and/or rectum. This is the extent of its reach.
Qualifying for Life Insurance with Stage 2 Colorectal Cancer.
Individuals who have been diagnosed with stage 2 colorectal cancer should “theoretically” be able to qualify for a traditional term or whole life insurance policy, assuming that you have no complications or any other major health concerns.
Stage 2 colorectal cancer survivors will typically have to wait at least six years to qualify, but this waiting period may differ on a case by case basis depending the “severity” of your situation.
Stage 3 Colorectal Cancer.
Stage 3 colorectal cancer is usually defined as colorectal cancer that has spread to the adjacent lymph nodes in the surrounding areas. But not beyond.
Qualifying for Life Insurance with Stage 3 Colorectal Cancer:
If you have totally healed and are in full remission, you may still be able to qualify for a traditional term or whole life insurance policy after being diagnosed with stage 3 colorectal cancer.
Now when you’ll be eligible…
Is a different question and will usually depend on the extent to which your cancer spread into the lymph nodes as well as how old you were when you were first diagnosed with your cancer. The younger, the better!
Stage 4 Colorectal Cancer
This is an advanced stage of cancer which will often include other major organs and parts of the body beyond just the colon and rectal areas. And while it is still possible for an individual to survive such a diagnosis, once diagnosed with stage 4 colorectal cancer, most (if not all) life insurance companies are going to automatically deny any application applying for a traditional term or whole life insurance policy regardless of whether or not you’re cancer free today.
For these individuals…
It is still possible to qualify for a life insurance policy only now we’re going to need to look at some “alternative” life insurance options such as a guaranteed issue life insurance policy.
Guaranteed Issue Life Insurance Policies.
Guaranteed issue life insurance policies are life insurance policies that aren’t going to require you to be able to “medically” qualify. Which means that it doesn’t matter how healthy you are as long as you:
- Are a US citizen,
- Live in a state where guaranteed issue life insurance policies are offered,
- And you meet the minimum age requirements,
You should be able to qualify for coverage.
But just because you…
Can qualify for a guaranteed issue life insurance policy doesn’t mean that you should run out and buy one. You see, these “types” of life insurance policies are going to come with their disadvantages. Disadvantage such as:
- Low policy limits,
- Higher “dollar for dollar” premiums vs more traditional types of life insurance policies,
- And guaranteed issue life insurance policies will contain a Graded Death Benefit, which will limit when your guaranteed issue life insurance policy will begin covering your for “natural” causes of death.
Don’t be. You see, we here at TermLife2Go have one goal and one goal only which is to….
“Help you find the best life insurance policy that you can qualify for!”
And we do this by first understanding what you hope to achieve by purchasing your life insurance policy and then match that goal with a policy that you can qualify for.
And since we work with dozens of different highly rated life insurance companies, when it comes time to “pair” you up with company that we “feel” will give you the greatest opportunity for success, we don’t have to rely on just one or two different options. We can make dozens of different companies “compete” for your business.
So, what are you waiting for? Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!
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