Are there viable options for burial insurance for individuals who have battled cancer? Absolutely! Moreover, there are still avenues for those currently undergoing treatment. A cancer diagnosis should not bar you from obtaining life insurance.
Enter guaranteed issue life insurance plans, designed to accept virtually everyone.
Whether you have a history of cancer or are currently undergoing treatment, there are tailored options available.
The application process typically involves a few questions about your diagnosis:
Answering these questions helps us find a company that can provide the coverage you need at the best available price.
While most insurance companies may decline coverage for current cancer patients, there are still options available through guaranteed issue life insurance policies.
Keep in mind that if you’ve had or been treated for cancer within the last two years, any life insurance policy offered will have a two-year waiting period for its full benefit.
In case of non-accidental death during this period, the insurance company won’t pay the full death benefit. However, your beneficiaries will receive all premiums paid, possibly with some interest.
Exceptions to this waiting period include basal cell carcinoma or squamous cell carcinoma, which don’t affect eligibility for final expense life insurance without a waiting period.
Guaranteed life insurance does come with higher premiums than other policies, sometimes even double the premium of a standard policy.
However, agencies like ours shop your policy across top-rated companies, significantly reducing the cost. While it remains higher due to the associated risk, it won’t be excessively more expensive.
If you’ve been cancer-free with no treatment for at least two years, your life insurance options improve considerably.
We can likely find you a policy with no waiting period, and the premiums become more favorable.
If you haven’t had cancer or treatment for over three years, you not only qualify for a no-waiting period policy but also for the best rates!