We believe this topic needs some serious discussion as, at some point, the question: can a person with cancer get life insurance? circulates in every mind.
To end the debate, yes, people with cancer diagnosis can still get life insurance. The options for these people are limited, but you can still benefit from financial protection from an insurance provider for yourself and your family.
A person diagnosed with cancer or already suffering from it shouldn’t go through financial uncertainties and worries. Whether you’re suffering from cancer yourself, asking for a loved one, or just curious, this blog is for you all.
Term Life Policy and Whole Life Policy
If these terms are new for you, here’s what they mean.
Insurance providers normally reserve term and whole life insurance for persons in good health, so you’ll almost certainly need to be in remission to qualify. Suppose you are presently undergoing cancer therapy, your disease has metastasized or advanced, or you have only been in remission for a brief period of time. In that case, you may not have access to either of these alternatives.
People With Cancer Remission Can Get Whole Life Insurance?
If the signs and symptoms of your cancer are reduced for over 5 years, you’re certainly qualified for whole term life insurance policy. However, you can check this with your insurance provider to see if they adhere to this standard policy. Also, it depends on your cancer severity and the chances of relapse. Some insurance providers also demand remission for over 10 years for some cancers.
People With a Family History of Cancer
If it runs in your family, it doesn’t mean you’re bound to fall victim to cancer. This shouldn’t stop you from applying for life insurance with complete benefits. Although, the insurance providers will ask for your family’s medical history to analyze. If the history is consistent and people with cancer diagnosis are of similar age, then it can slightly affect your policy rates, but it doesn’t mean you won’t get financial protection.
What If You Already Have Life Insurance and Then Diagnose with Cancer
This happens in many cases where people find out about the cancer diagnosis after they get their life insurance. In that case, the insurance providers should consider it a coincidence and treat the insurance normally as they would otherwise. However, you might face slight inconvenience while increasing the value of your insurance policy with your providers.
Buckalew Is Your Ultimate Financial Supporter!
We have seen people with cancer thinking that their life is on pause and they can avail of anything now. Therefore, we at Buckalew Financial Services formed a team to break this stereotype and offer our cancer-suffering clients as many benefits as we can. If you’re wondering if a person with cancer can get life insurance, yes, they can! They deserve financial support in times of medical crisis, and we’ll make sure they get it.
