Anytime someone chooses to apply for a traditional term life insurance or whole life insurance policy after being diagnosed with a serious pre-existing medical condition, the application and approval process are always going to become more difficult.
This is why…
It shouldn’t come as a huge surprise that if you’ve been diagnosed with liver cancer, life insurance companies are going to be very nervous about taking you on as a client. That said however, it is possible that you may have been diagnosed with a “benign” liver tumor in which case, a simple surgery may be all that is needed in order for you to become “cancer free”.
In our article today…
We’re going to focus exclusively on “non-benign” liver cancer cases simply because these “types” of liver cancer applicants are going to be that “kind” that are much more difficult to find coverage for.
But this does not…
Mean that “everyone” who has been diagnosed with liver cancer is going to be “automatically” ineligible for a traditional life insurance policy. It just means that we’re going to want to make sure that you choose a life insurance agent that is familiar with working with liver cancer patients and one that will have access to multiple different insurance companies so that you don’t have to rely on just one or two different options.
Because qualifying for a traditional term or whole life insurance policy after being diagnosed with liver cancer is going to be more difficult than a “typical” life insurance application, it only makes sense that you should choose an insurance agency that isn’t simply going to give you a “yes” or “no” answer, you’re going to want to work with an agency that will walk you through the process so that you fully understand what your options are.
So, without further ado…
Let’s just take a moment and “break-down” what the process of applying for a traditional term or whole life insurance policy will look like after you’ve been diagnosed with liver cancer so that you can get a better idea of what your options are.
To do this properly…
We’d like to start right from the beginning by first defining exactly what liver cancer is so that you can have a better understanding of why life insurance companies are so nervous about insuring folks who have been diagnosed with it.
So, what is liver cancer?
Now because we’re not medical professionals and we’re certainly not doctors, we’re going to keep our “definition” of liver cancer really simple. Liver cancer is cancer of the liver. But there is a little bit more to it than that!
Because the liver is a major organ that helps play a significant role in all of the bodies metabolic processes, anytime someone has an “issue” with their liver, the life insurance companies are going to be very concerned about it.
Unfortunately, with liver cancer patients, the cancer will slowly destroy the functionality of the liver which can become life threatening and is why life insurance companies are so cautious about approving applications from liver cancer survivors.
Qualifying for Life Insurance with Liver Cancer.
Like most types of cancers, your eligibility for a traditional term or whole life insurance policy will hinge on what “stage” your cancer reached prior to you becoming cancer free.
These “stages” are determined by your doctor and are used to help determine just how “advanced” your disease has become and will often be used by your doctor to determine what type of treatment you should receive.
These “stages” will…
Also be used by life insurance underwriters to make determinations on who they “will” and “won’t” insure as well as what “price” one should have to pay in order to purchase their insurance if approved.
Stage One Liver Cancer.
Individuals who have been diagnosed with stage one liver cancer will have been diagnosed with a tumor (regardless of size) that has not spread outside of the liver and has not invaded any nearby lymph nodes.
In cases like these…
Applicants may be able to qualify for a traditional term or whole life insurance policy however, most life insurance companies will require the applicant to wait at least 3-4 year from the last date of treatment (preferably more) at which point it is possible that they may be able to qualify for a Standard or Normal rate (at best).
Stage Two Liver Cancer.
Individuals who have been diagnosed with stage two liver cancer will have been diagnosed with:
- a tumor that has grown into the neighboring blood vessels,
- or the applicant will have developed multiple tumors within the liver itself.
At stage two, the cancer has yet to invade the lymphatic system or metastasis to other parts of the body.
In cases like these…
It may still be possible to qualify for a traditional term or whole life insurance policy, only now the “wait time” will be significantly longer (usually a minimum of 5 years but many will require up to 7 to 10 years). Applicants with stage two liver cancer should be prepared for a longer underwriting process as well.
Additionally, here at TermLife2Go…
We generally don’t like to quote anyone with a previous diagnosed of stage 2 liver cancer any rate better than a Table B, simply because it is highly unlikely one will be approved at anything higher than that.
Table rates are life insurance rates that fall below a Standard or Normal rate. In all, there are 10 Table rates available ranging from Table A (the best and least expensive rate) to Table J (the worst or most expensive table rate).
The trick for anyone…
That has been diagnosed with stage two kidney cancer is to determine which insurance companies will provide you with the best “Table Rate” and then compare prices amongst just those carriers to see which one has the best pricing (which is exactly what we do here at TermLife2Go).
Stage 3 Liver Cancer.
In stages 3 liver cancer, there are now multiple tumors and at least one of them is over 5 cm across. In total, there are three categories of stage 3 liver cancer, but what all three “share” is that none of them have spread into the nearby lymph nodes or metastasized to other parts of the body.
Stage 4 Liver cancer…
On the other hand, is defined by an “cancer intrusion” into the lymphatic system and in the latter part of stage 4 liver cancer, metastasis to other parts of the body is also common.
Qualifying for Life Insurance with Stage 3 or Stage 4 liver cancer…
As a general rule of thumb, what you’re going to find is that if you’ve been diagnosed with either stage 3 or stage 4 liver cancer, you’re chances of being able to qualify for a traditional term or whole life insurance policy is going to be very, very slim.
Now we don’t like to…
Say that your chances are impossible, but the truth is that it’s very unlikely that you will be able to qualify for a traditional term or whole life insurance policy.
Remember: you still may not qualify even after stage one liver cancer. Qualifying for life insurance is about much more than your liver cancer – it’s about your overall health, age, profession, medical history and so on. All of these things will factor in to your life insurance eligibility.
Finding the Right Term or Whole Life Insurance after Liver Cancer.
You will need to factor in all those things before you can determine which life insurance company is best for you. It’s a lot of work to figure out since there are so many variables – the life insurance company that’s right for the friend you met in chemotherapy may not be the one that’s right for you. This is because you are both more than your cancer.
To find the best life insurance company and policy, you need experts like us here at TermLife2Go!
Now will we be able to help everyone?
No, we won’t. In fact, the majority of people who have or have had liver cancer will not qualify for a traditional term or whole life insurance policy.
So, what then?
Should these people live without life insurance, with no way to protect their loved ones? No!
What to do when You Don’t Qualify for Life Insurance with Liver Cancer.
For those who have either already been denied multiple times for coverage or who are currently in treatment, it is still potentially possible to qualify for a life insurance policy. Only now instead of being able to apply for a traditional term or whole life insurance policy, we’re not going to need to take a look at some “guaranteed acceptance” policies.
These are life insurance policies…
Where as long as you are a US citizen, live in a state where they are offered and meet the minimum age requirements, you will qualify. In fact, you could currently be:
- In palliative care
- Receiving chemotherapy
- Undergoing radiation
- Trying alternative medicines
- In a drug trial program
- Undergoing surgery
And still be approved for a guaranteed issue life insurance policy!
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, guaranteed issue life insurance policies do have some drawbacks. Drawbacks such as:
- Low policy limits (usually only $25,000 or less).
- Higher “dollar for dollar” premiums vs more traditional types of life insurance policies (in most cases).
- And guaranteed issue life insurance policies will contain a graded death benefit clause which will put limitations on when your guaranteed issue life insurance policy will begin covering your for “natural” causes of death.
For more information about guaranteed issue life insurance policies, we would recommend that you either give us a call or read more about guaranteed issue life insurance here: Top 10 Final Expense Life Insurance Policies.
Guaranteed Issue Policy: Finding the best one
Just like all term and whole life insurance policies aren’t the same, neither are all guaranteed issue policies. This means your best bet at finding the right life insurance policy is to speak to an expert. Whether you’re getting term, whole, or guaranteed issue, ask an expert for guidance.
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!