Prostate cancer is the most common cancer for men, and we specialize in life insurance with prostate cancer. In this article I’ll cover what life insurance companies look for when evaluating a life insurance application for someone with a history of prostate cancer. If you have had prostate cancer and would like to get a quote, simply fill out our quote request form right below this paragraph, otherwise keep reading for more information on life insurance with prostate cancer.
Life Insurance with Prostate Cancer – Important Factors:
Here are some important factors that will determine your ability to get approved for coverage:
- What was the age of diagnosis?
- At what age did treatment end?
- What was the Gleason Score?
- What was the treatment, and has there been a recurrence of the cancer?
- What was the pre-treatment PSA reading?
- What is the most recent PSA reading?
The most important factors that will determine your ability to get approved, and pricing are the PSA prior to treatment, Gleason score, and how long has passed since treatment has been completed.
A high Gleason score over 9 and a diagnosis prior to age 50 will most likely result in a 5 year postponement period from the end of treatment.
However if your Gleason score was lower – around 2-6, for example it may be possible to get approved for life insurance immediately following successful treatment.
If you had a low staging you may get Standard rates, although typically you will probably fall into the substandard rating of table 2-4.
Life Insurance with Prostate Cancer: Example of Pricing
Let’s take an example of a 60 year old male applying for $250,000 of 15 year term life insurance at a Table 2 Health Rating:
In this case the best price is with Banner Life Insurance at $192.72 per month. A 10 year term policy would be $153.34 per month, also with Banner having the most affordable quote.
If you have been cancer free for 5 years or more, you may get Standard rates. A 60 year old male applying for the same $250,000 policy at a Standard Rate would get the following pricing:
10 Year Term – Best price is with SBLI at $116.80 per month
15 Year Term – Best price is also with SBLI at $153.99 per month.
As you can see, there are several factors that would determine your ability to get approved for life insurance with prostate cancer.