Medical Exam For Life Insurance
If you need to take an exam in order to obtain life insurance, a professional paramedic will perform it. It needs to be carried out prior to the review of your application for insurance.
This form of medical exam is free because the insurance company covers the cost.
Depending on the product you will get, the examiner will test different things .
In this particular case, they will ask questions such as a family history of cancer, your current state, whether you have experienced any recurring symptoms, etc. .
Burial & Final Expense Insurance
Both burial life insurance and final expense insurance are whole life insurance policies with all the features of a whole life policy but a lower death benefit. The difference is usually in the amount of the death benefit. Usually, the lower end of the spectrum is for burial expenses like a casket or cremation, while the higher face values are for final expenses such as debt payment, pay hospital costs, etc.
Some scenarios . . .
- A 40-year-old female, 5 years cancer free, can take a $100,000 term life insurance policy for around $30 per month.
- A 40-year-old female diagnosed with terminal cancer might take a guaranteed issue graded death benefit policy for $15,000 to cover funeral and related costs for around $91 per month.
- A 69-year-old man, with an illness but no major health issues might take a no medical exam whole life insurance policy for $25,000 and pay pretty close to $128 a month.
Does A Family History Of Cancer Affect A Life Or Critical Illness Cover Application
A family history of cancer can affect both a life and critical illness cover application. For life insurance it may affect the premium that you pay. For example, inherited conditions, like certain types of bowel, breast or ovarian cancers, will be considered during the underwriting process. For Critical Illness Cover, there could be an increase in the premium or an exclusion may be placed on your cover.
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Can I Get Life Insurance If I Have Cancer
If you have or have had cancer, you may find it more difficult to get life insurance.
The insurance companies take certain factors into account if youve had cancer. These include the type of cancer you have and the stage it is at.
With your permission, the company will write to your doctor or hospital. They will ask for medical details that could affect your policy. They might also ask you to have a medical examination before they will issue your policy.
When a policy is issued, the first premiums will be high because thats when the insurance company has the greatest risk. For most cancers, as time goes by the risk of the cancer coming back gets lower.
Talk about your individual case with your life insurance company. They can tell you more about how this will personally affect you.
There are special rules about insurance in the Disability Discrimination Act . This Act applies to you if you have cancer, or have had cancer in the past.
Life Insurance For Cancer Survivor
We often get asked: Can you get life insurance after a cancer? or Can you get a life insurance policy if you have been a cancer patient?
And the answer is: Yes, you may be able to get life insurance policies in those cases. For guaranteed issue life insurance, you should talk to one of our agents.
If youre a cancer survivor and in remission , know that you may have options.
Below you can read about your life insurance options if youre a cancer survivor.
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Get A Quote For Aflac Cancer Insurance
We recommend chatting with an agent for complete details that can help you decide if you should apply for supplemental cancer insurance. You can also clarify which Aflac Cancer insurance option is best by determining how much coverage you may desire. Dont wait until its too lateget a cancer insurance plan to help you when you need help the most.
Katy is a real Aflac policyholder. This is her story. Your benefits from Aflac may differ. Katy was paid for her time in telling her story and is also an employee.
How Much Does Cancer Insurance Cost
When cancer or a specified-disease strikes, the last thing you and your family should have to think about is the costthe priority should be recovery. Cancer treatments and procedures can quickly add up, making cancer insurance costs worth it.
The cost of cancer insurance is impacted by your age, location and your ideal benefits, but Aflacs Cancer/Specified-Disease Insurance plans are an affordable option for all kinds of policy needs. We recommend chatting with an agent to get a more specific quote.
Aflac offers some cancer insurance policies with weekly rates as low as a gallon of milk.4
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Best Life Insurance For Am Best Ratings
A.M. Best is a credit rating agency that rates insurance companies ability to meet their financial commitments to customers. Any insurance company rated A or higher by AM Best is a good option when it comes to financial strength. Policygenius only offers policies from insurers that have an A.M. Best rating of A- or better. Our top pick for AM Best ratings is MassMutual.
Life Insurance With Cancer
Life insurance for someone with cancer is possible, but your options are limited.
If you are currently in cancer treatment, or you have not surpassed the required wait time for your cancer remission, you will likely have one option for life insurance: guaranteed issue.
Simply put, guaranteed issue life insurance is guaranteed to be issued , regardless of your health status.
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Stage 4 Cancer Symptoms
The symptoms of metastatic cancer depend on the type of cancer. In some cases, there are no symptoms at all, so it’s possible to have stage 4 cancer and not know it.
Most of the time, a cancer that reaches stage 4 affects not only the part of the body where it originated, but the areas where it has spread to as well.
|Common Symptoms of Metastatic Cancer|
|When cancer spreads to:|
Stage 4 cancer also can cause more general symptoms, such as extreme fatigue and lack of energy. Some people become so tired and weak they have trouble doing everyday things. They may even need help with getting dressed or other routine tasks.
Hearing your doctor call a liver tumor “breast cancer” may sound strange. But stage 4 cancer is diagnosed based on where the original cancer is located, not where it has spread. So, breast cancer that has spread to the liver will be called stage 4 breast cancer with liver metastasisnot stage 4 liver cancer.
Final Expenses And Burial Insurance
If you cant get traditional life insurance, you may be able to get final expense insurance.
Final expense insurance, also known as burial insurance, can be either a term life or whole life policy. You can get a simplified issue policy, which entails answering a few medical questions as part of the underwriting process. Another option is a guaranteed issue policy, which doesnt involve any medical questions.
You also can get a policy with a graded death benefit. These policies increase the death benefit to your beneficiaries over the life of the policy as long as you dont die within the first few years.
Your beneficiaries can use this insurance to pay for funeral expenses, housing expenses or other costs. However, the trade-off with final expense insurance is that the policy amounts are fairly low compared to traditional life insurance.
Typically, a final expense policy may have a face value that ranges from $5,000 to $50,000.
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What Are The Most Common Forms Of Cancer
The four most common types of cancer are breast cancer, bowel cancer, prostate cancer and lung cancer. There are more than 200 types of cancer, and globally, there are 18 million new cancer cases every year. This underscores the importance of life insurance and critical illness cover to millions of cancer patients.
Need Help Getting Life Insurance Coverage
If you have a preexisting medical condition and want to buy life insurance, you will need help from an expert. This person can help ensure you get coverage so you dont get declined.
Warning: Applying for life insurance without a medical exam can be risky. If you get declined coverage, it could be at least two years before you can get any life insurance.
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Q: What To Do If I Get Turned Down For Life Insurance
A: If you cant get a standard life insurance policy, there are more options. Good alternatives are guaranteed life policies, which are also available for cancer patients and dont require a medical exam. You can also wait until your remission tests come in. Overall, our qualified agents will help you get to the right insurance companies that will have a solution for your needs.
Life Insurance Companies For Cancer
Lincoln Financial is a top-rated insurance company that has been in business since 1905. They offer a wide range of products, including life insurance, health insurance, and annuities. Lincoln is known for their aggressive underwriting of cancer policies and table shave program, which can save policyholders money on their premiums.
Disclaimer: We are licensed life insurance agents for Lincoln. If you need a quote or want to apply, contact us below. There is no charge for the service. We strongly discourage applying without the assistance of an agent because if you apply on your own and get declined coverage, for whatever reason, no other life insurance company will consider you for coverage for approximately two years.
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Life Insurance With A Family History Of Cancer
Having a family history of cancer will increase your rates, but how much it does depends on your family’s medical history. Insurers typically want to know:
- The type of cancer.
- The number of relatives diagnosed and how you were related.
- The age at which your relative was diagnosed. If they were a senior, this will likely have a lower impact on your rates than if they were young.
Prostate Cancer Life Insurance Eligibility
Below is a list of scenarios that can help you get life insurance coverage if you previously had prostate cancer:
- Early-stage prostate cancers can be considered once in remission for at least one month, depending on the age at diagnosis and the cancer details.
- The more advanced the prostate cancer, the longer the waiting period.
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How Can I Find The Most Affordable Insurance Rates With Breast Cancer
First, lets be clear about your expectations when considering purchasing life insurance with breast cancer. Unless your treatment has been completed and your prognosis is positive, you will probably be better off going with guaranteed issue insurance. The best way to find the most affordable rates, however, is to contact an experienced insurance professional who specializes in high-risk cases.
An independent agent such as LifeInsure.Com will typically represent many of the top-rated insurance carriers and among them will be several companies that are known to look at former cancer patients in a more positive light. After consulting with your agent, he or she will be able to select the company that is likely to be the most favorable option. This alone will save you a lot of time and disappointment.
Independent agents spend a lot of time learning the underwriting guidelines for the carriers they represent, and can typically find a solution for your individual situation.
Financial Assistance & Free Money For Cancer Patients Type #: Prescription Assistance
With the cost of cancer medications rising, many patients feel concerned about how to afford treatment.
Thankfully, programs like PPA can help by providing free money to cancer patients, in the form of free or reduced-cost prescriptions.
Their easy-to-use online website provides a list of multiple prescription assistance programs that you may qualify for as a cancer patient.
Another resource offering financial assistance for cancer patients is Needy Meds. Needy Meds offers a free Drug Discount Card, which provides savings of up to 80% on prescription medications.
If a medication is not covered by your insurance, or if your insurance has a high deductible, fear notyou can use your Drug Discount Card to help pay for prescriptions.
Also, the Medicine Assistance Tool can help cancer patients to locate additional resources for financial assistance for prescriptions.
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Convertible Term Life Insurance
A convertible term life insurance rider is a term policy that includes a term conversion rider. This is an add-on that lets you convert your policy to a whole life policy a type of permanent life insurance that doesnt expire before the end of the term. Converting a term life policy to whole life can be a good option if you still need coverage toward the end of your term.
When you convert your policy, you could potentially save on some of the costs associated with taking out a brand new whole life insurance policy, especially because the cost of buying life insurance increases as you age. Its also a convenient option as policy conversions usually do not require additional underwriting the process used by insurers to assess your insurance risk that usually requires a review of your health and medical history.
Pro: Convenience it allows you to convert a term policy into a permanent policy in an affordable way
Con: Cost premiums increase after a term policys converted into permanent
Duration: 10 to 30 years, with the option to become permanent
Death benefit: Fixed
What Is Life Insurance For Cancer Patients
Life insurance is an agreement between you and an insurance provider that states that you will make premium payments to the insurance company, and should you pass away during the coverage period, they will pay a death benefit to your beneficiaries.
Policies can be term or permanent life. Permanent life insurance provides lifetime coverage whereas term policies only cover a set period .
Both term and permanent life insurance policies typically cover cancer. If someone dies due to cancer during the coverage period, the policy will pay the death benefit to the named beneficiaries.
Note that policies such as accidental death and dismemberment do not cover cancer they only pay a benefit if you die from an accidental cause.
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Life Insurance Riders For Cancer
If you qualify for life insurance after a cancer diagnosis, consider adding certain policy riders.
You might consider adding an accelerated death benefit, which gives your beneficiaries early access to your death benefit if youre diagnosed with a terminal illness. A critical illness rider also can provide a cash benefit to help you pay for treatment if you have a qualifying illness.
A long-term care rider may be a good addition to your policy if youre concerned about how to pay for long-term care in a nursing home or assisted living facility.
Keep in mind that any rider you add will increase your premium, so consider what additional coverage you actually need and if it fits into your budget.
Colon Cancer Life Insurance Eligibility
Below is a list of scenarios that can help you get life insurance coverage if you previously had colon cancer:
- Stage 1 colon cancer can be considered once in remission for at least one month, depending on the cancer type.
- Stage 2 colon cancer can be considered once in remission for at least two years, depending on the type.
- Stage 3 colon cancer can be considered once in remission for at least four years, depending on the type.
- Stage 4 colon cancer is typically declined.
- Every carrier is different, so please contact us before applying. Then, you might have less of a waiting period.
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Financial Assistance & Free Money For Cancer Patients Type #: Fundraising
One of the quickest, easiest ways to supplement financial assistance for cancer patients is fundraising. With a little upfront investment of your time and a good social network, fundraising can be an effective tool for harnessing financial funds.
Online fundraising platforms such as GoFundMe, allow you to post your need/cause and share that need/cause with others. However, the downside is that you only receive a portion of the funds raised.
A second method of fundraising worth consideringand from which youll get to keep all profits is known as a personal fundraiser. With this type, you, your friends, and your family raise funds by offering something to the community, such as a bake sale or car wash, for example. Feel free to check out MedGift Advocacy Services for a whole list of fundraising ideas.
Dont be afraid to seek a higher quality of life. You deserve it, no matter what your financial situation is. To learn more about how we help cancer patients financially, contact us at American Life Fund today!
How Much Does Life Insurance Cost If You Have A History Of Cancer
How much you can expect to pay for life insurance will depend on the type of policy you may be eligible for. If youve had cancer in the past and been in remission for three to five years depending on the type of cancer and your personal situation term life insurance can be an option for you. If youre denied standard coverage due to an existing or recent cancer diagnosis, you still have the option of guaranteed issue life insurance. Below you’ll find estimated average rates for both options.
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