Getting life insurance with h a story of breast cancer used to be impossible. But thanks to many women kicking cancers butt and continuing to live out their normals lives companies had to reconsider. In the recent couple years, few companies have changed their guidelines to be more aggressive with placing cases with breast cancer. Many women in the country can now take a deep breath knowing they can get life insurance.
From the strong enthusiasm above you get the idea that you can get life insurance but I didn’t say it was easy. It’s not rocket science either but your high risk agent will have to know to go to the right company based on all your details. When it comes to breast cancer we usually go to about 3 different companies out of the 60 that we represent.If you are wondering why, well because it can be the difference between getting approved and flat out declined if you go to just any company.
When applying for life insurance the company will want to know particular details of your breast cancer history. Details such as type of breast cancer, when you were diagnosed, treatment type, stage, tumor size, how long you been in remission and did your cancer metastasize. If this information is available you can get a pretty accurate quote or outcome with a high risk life insurance broker you’re working with. This can also be used to do what is called a quick quote. It is a way to submit your case anonymously to the company to get back a written response of a possible outcome. Really helps when you put this on top of your application since you have something in writing from them.
If you had stage 3 or 4 cancer than you are not likely to get any life insurance unless it has been over 10 years since remission. On the other hand cancer stage from 0 to 2 have a fair chance of getting approved for life insurance. Based on your stage, tumor size and metastasis status you will be assigned a rate class by the company. Basically this is a risk class a company underwriter will assign to you depending on the risk you are to them. The classes go from preferred for super healthy, standard for the average health and substandard for higher risk cases. If you have history of breast cancer you can expect standard as a best case scenario and substandard in most cases. Not to confuse you but you may also get a flat extra, this is a surcharge carriers will charge per thousand dollars of coverage. The good news it will not be for the entire term of your policy but for a specific time that the carrier considers volatile.
Life Insurance Outcomes With Breast Cancer History
So lets say you had a stage 0 cancer due to an early detection that got taken care of with minimal treatment within the last few years. In this case you can expect to get standard rates if over age 40, otherwise expect a flat extra. For stage 1 breast cancer coverage is available if you had a tumor size less than 2 centimeters. As long as it has been over 5 years since treatment completion expect standard to substandard rating with a flat extra from $5 to $15 dollars. With stage 3 you can expect same outcome as a stage 2 applicant except for higher flat extra. Companies will also want more time to pass between 5-10 years since completion of treatment. At the end of the day the best thing to do is to call us so we can ask you the right questions and then go to work on your behalf to see what is the best possible option.
If you have higher stages or worried about getting declined. There is still another option which is a graded life insurance policy. This is an option with no medical exam and no thorough underwriting. When answering no to the 10 or 15 questions on the application you can get approved but you would only get the death benefit payout if the death occurs two years after the policies inception. Otherwise your beneficiaries would just receive the premiums that were paid out with in the two years. If you have any questions or would like to get coverage, call us today at 888-492-1967.
