Reader question:

What is considered when I try to get life insurance with cancer?

George

Good question.

Life insurance with cancer is a difficult path to manuver, and so those who suffer from cancer or have suffered find themselves struggling to be insured. This is one reason why you should get a life insurance policy at a young age. Many companies will allow you, if you already have a policy when you develop cancer, to take out the settlement money even though you are still alive and use it for things such as treatments and medical bills.

However, even once you have gone into remittance, if you have term life insurance with cancer, then you will often see your policy is not renewed when it runs out. This is where impaired risk companies come in. These companies have a policy for offering life insurance to people who are high risk, such as cancer and other disease survivors, who still have the chance of remission.

These companies have a new way of rating policies than before. They are able, instead of just considering that you have had cancer, to look at the trends and medical advances and see how likely it is that you will come out of remission, and then base your policy rate on that.

take care,

Fashun