Important Facts

Life Insurance After Breast Cancer: Is It Possible to Get Coverage?

At one time, trying to buy life insurance with certain pre-existing medical conditions was nearly impossible. Today, companies regularly offer life insurance to those with medical issues.

Life Insurance Coverage for Breast Cancer Survivors

Types of life insurance available

Applying for life insurance with a pre-existing medical condition such as breast cancer doesn't necessarily mean that an insurer will automatically deny you coverage. Today, many life insurance companies will look at a variety of factors when considering an application from a breast cancer survivor.

What has changed?

While the quest to find a cure for breast cancer continues, treatments have certainly advanced over the past decade. According to the American Cancer Society, every day researchers around the globe are working hard to find better ways to prevent, detect, and treat breast cancer, as well as improving the quality of life for patients and survivors. Because of the advances in treatment, many life insurance companies now have underwriting guidelines that make it possible for breast cancer survivors to secure life insurance.

Prepping for the application process

Before you begin your search for the best life insurance company for you, it's important to be prepared for the application process. Because the insurer will need specifics about your condition, you'll need to gather important health information that may include:

  • A summary of your illness. This typically includes the date of the diagnosis, as well as the type of cancer you were diagnosed with (including the stage and grade) and how it was treated.
  • A summary of your current health. Be sure to include some positive and proactive points regarding your condition, such as being a non-smoker/non-drinker, healthy eating habits, and if you regularly exercise.
  • A physicians list. You'll want to include both doctors and other medical professionals who have and are continuing to treat you.
  • Your treatment plan. Provide a list of past treatments and any treatments that may be planned for the future. This may include the start and stop dates of your chemotherapy.
  • Any medications you are currently taking. Some pharmacies will provide you with a convenient print out.

While this is not a comprehensive list, it may be able to help you facilitate the life insurance application process. It's important to note that every life insurance company has its own underwriting guidelines when it comes to deciding whether or not to offer you coverage.

Finding the best life insurance company for you

According to the Susan G. Komen website, there are certain things breast cancer survivors should keep in mind when working with a life insurance provider. Some of them are:

  • Work with an agent/life insurance company that is licensed by the state insurance department. You'll also want to check the financial stability of the insurer that you are considering. You can read more about evaluating a life insurance company on the Protective Life Learning Center.
  • Fully understand the policies and procedures of the life insurance company when considering coverage.
  • Be sure to ask questions about anything that may be unclear to you.
  • Ask questions about pre-existing conditions and any possible waiting periods.
  • Thoroughly review your application for any errors. Any incorrect information that amounts to a material misrepresentation could result in a denial of benefits or the cancellation of your policy.

The key takeaway here is to know that is isn't impossible to find life insurance as a breast cancer survivor. Today, there are many life insurance companies that can help you select the right type of life insurance policy based on your individual needs.

 

If you'd like to read more about getting life insurance with a pre-existing condition, visit the Protective Learning Center.

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Life Insurance After Breast Cancer: Is It Possible to Get Coverage?

Finding life insurance as a breast cancer survivor isn't impossible. With the number of advances in treatments, life insurance companies are making adjustments to their underwriting guidelines, making it easier to find coverage. This article looks at some of the basics when applying for life insurance coverage as a breast cancer survivor. For more information, visit the Protective Life Learning Center.


All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.

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