When you apply for life insurance protection, they are going to look at dozens of different factors to determine how much they are going to pay for insurance protection. One obvious factor is your health or any pre-existing health conditions that you have. If you’ve been diagnosed with cancer, you might assume that you can’t get life insurance coverage. In most cases, that isn’t true. Regardless of your health or any complications, it’s possible to get insurance protection. Not having life insurance is one of the worst mistakes that you could ever make for your loved ones.
Life insurance is one of the most important purchases that you’ll ever make for your loved ones. Not having life insurance is one of the worst mistakes that you could make for your loved ones. If something tragic were to happen to you, and you didn’t have coverage, your family would be stuck with a massive amount of debt and other final expenses.
When you’re shopping for life insurance coverage, it’s important that you understand all of the different factors to ensure that you’re getting the best plan available.
When you apply for coverage, the insurance company is going to ask you dozens of question about your cancer. They will want to know what kind of cancer that you were diagnosed with, the date that you were diagnosed, your treatments, and much more. All of these factors are going to play a major role in how much you pay every month. The insurance company is going to view different kinds of cancer differently.
Not only are they going to look at your cancer diagnosis, but they are also going to look at your overall health, your job, your family history, your tobacco usage, and much more. They are going to review just about every factor of your life, and they will each play a role in your monthly rates.
If you want to improve your chances of getting approved for life insurance, it’s important that you improve your overall health and cut out any tobacco. Both of these can give you a drastically higher chance of getting approved for an affordable life insurance policy.
Guaranteed Issue Life Insurance
One option for life insurance is to purchase a guaranteed issue life insurance plan. As you can guess from the name, these plans are guaranteed acceptance, which means that regardless of your health or cancer diagnosis, you can get approved for coverage. There several pros and cons of these plans that you should be aware of when you’re shopping for protection.
With these plans, all that you have to do is answer a couple of health questions, and then you’ll be approved for insurance. One of the advantages of these plans is that you can get approved for life insurance much quicker than you can with other plans. In fact, with these guaranteed plans, you can get life insurance coverage in a matter of hours. With a traditional policy, on the other hand, you could wait up to a month and a half to get approved.
One of the disadvantages of these plans is that is that you’re going to pay more for your life insurance versus what you would pay for a plan with a medical exam. The purpose of the medical exam is to help the insurance company understand how much risk that you are for insurance. Without that medical exam, the company is taking a greater risk, and they are going to offset that by charging you higher premiums.
The biggest drawback of these plans is that you’re going to be limited on how much life insurance that you can buy through these guaranteed issue policies. Most companies will only sell you around $25,000 worth of coverage. For most families, that won’t be nearly enough insurance protection. Not having enough life insurance is one of the worst mistakes that you could ever make for your loved ones.
It’s important to know that every insurance company is different, and all of them have different medical underwriting and rating systems that they are going to use. That means that every company is going to view your cancer diagnosis differently, which is going to translate into wildly varying rates depending on the company that you choose. If you want to ensure that you’re getting the best rates, you’ll need to ensure that you’ve found the best company for applicants with cancer. Some companies specialize in working with cancer patients, while others are going to automatically decline you for insurance protection.
There are hundreds of companies on the market, and all of them are going to give you different rates. Instead of wasting your time calling different agents, let one of our independent insurance brokers do all of that hard work for you. Unlike a traditional insurance agent, our independent brokers work with dozens and dozens of highly rated companies across the nation. We can bring all of the best insurance rates directly to you. Working with our agents can save you both time and money on your life insurance search.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family deserves. If you have any questions about life insurance or the options available to you as an applicant with cancer, please contact us today. We would love to answer those questions and ensure that you’re getting the best plan and rates possible.
In this video, I’m going to answer the question about, “If you have
cancer what type of life insurance can you get?” Specifically, I
received the question that I am going to read to you that says, “A
month ago my mother found out she was diagnosed with pancreatic
cancer. She had it for nine months and it showed no symptoms. She’s
looking to have a policy for funeral bills. Is there a life insurance
company that would provide a policy for her?” The answer is that
most traditional life insurance companies will not approve you for a
policy, however there are insurance companies that offer what’s
called instant issue life insurance or guaranteed issue life
insurance that anybody can get approved for. Typically you can get a
policy anywhere from $2,000 to $50,000, no questions asked, you can
get approved. The condition that you get approved under is that
typically there is a 2 or 3 year waiting period, where if you die
within the first let’s say 2 years, your family would get back all
the premiums, all the payments that you made, plus some interest if
you out live that initial period. You will have the full death
So, lets say you hopefully live for more than two years, you’d have
the full death benefit. Typically, you can get a policy anywhere from
$2,000 up to $50,000 and that will provide for final expenses like
burial expenses. There are policies out there that anybody can get
approved for. They are typically considered guaranteed issue or
instant issue rated death benefit policy and graded means there’s
that waiting period. If you’re looking for an insurance quote any
type of quote you can fill out my quote form visit my website and
fill out the quote form and we can help you get a life insurance
quote. Thank you.
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