Cancer Survivors’ Life Insurance: Can You Buy Life Insurance for Someone Who Has Cancer?

Shawn Plummer

CEO, The Annuity Expert

Navigating through life after a cancer diagnosis can be pretty daunting. Aside from the emotional and physical toll it takes, survivors are often confronted with many financial decisions and uncertainties. Life insurance is a critical element of these considerations. In this guide, we’ll delve into the complexities of Cancer Survivors Life Insurance, answering some of your pressing questions and guiding you through the process.

Understanding Life Insurance for Cancer Survivors

Can you get life insurance if you are a cancer survivor?

You can. It’s a common misconception that cancer survivors can’t obtain life insurance. While it may be challenging due to perceived risks from the insurer’s perspective, it’s not impossible. Insurers assess various factors, including the type of cancer, stage at diagnosis, treatment received, and the period of remission.

Consider John, a 45-year-old man who overcame skin cancer five years ago. Despite his history, he was able to secure a life insurance policy, albeit at a higher premium than a person without a similar medical history. The key is to provide all relevant information and medical records to enable the insurance company to assess your case accurately.

Cancer Survivors Life Insurance

Life Insurance Post-Cancer Remission

Can I get life insurance after cancer remission?

Indeed, you can. It’s important to understand that life insurance companies often operate based on risk assessment. Generally, the longer the remission period, the lower the perceived risk and, consequently, the better the insurance policy terms. This means a cancer survivor in remission for several years has a better chance of getting affordable life insurance.

For example, Emily, a 40-year-old breast cancer survivor in remission for ten years, applied for life insurance and received a policy with premiums comparable to those of individuals without a cancer history. During her decade-long remission period, she significantly increased her insurability.

Life Insurance for Long-term Cancer Survivors

Can I get life insurance if I had cancer ten years ago?

Absolutely. A decade-long distance from a cancer diagnosis significantly improves your chances of getting life insurance. Insurers often see this long remission period favorably. However, it’s essential to note that the nature of cancer and treatment details still play a role in the policy’s terms.

Consider the case of Tom, a 50-year-old with colon cancer ten years ago. With a decade of remission and a healthy lifestyle, he secured a life insurance policy with a premium slightly higher than a typical policyholder without a history of cancer.

The Cancer Survivor Policy

What is a cancer survivor policy?

The Cancer Survivor Policy, offered as part of Cancer Survivors Life Insurance, is meticulously crafted to address the financial concerns of individuals who have triumphed over cancer. These policies take into account the distinctive requirements and situations of cancer survivors, with the goal of ensuring they receive the financial protection they rightly deserve. It’s worth noting that these policies adhere to the guidelines and regulations set forth by the Internal Revenue Service (IRS) to ensure compliance with applicable tax laws.

Think of Sarah, a lung cancer survivor who recently purchased a Cancer Survivor Policy. This policy provides her family with financial stability in the event of her passing and offers certain living benefits that can assist with any potential future health costs.

Next Steps

Surviving cancer is a remarkable feat; the journey afterward, including securing life insurance, doesn’t have to be daunting. Yes, as a cancer survivor, you can get life insurance—even after a long remission. Remember, each case is unique, and insurance companies consider multiple factors before issuing a policy.

Life Insurance After Cancer

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Frequently Asked Questions

Is being a cancer survivor a pre-existing condition?

Insurers consider cancer a pre-existing condition after the completion of treatment and during the remission phase.

Can you get life insurance if you are in hospice?

If you have a terminal illness, your choices for life insurance will be restricted to guaranteed issue life insurance or group coverage offered by your employer.

Can you have two life insurance policies?

Yes, it is possible to have multiple life insurance policies from different companies. Having multiple policies can be beneficial as each policy may offer different coverage levels for different needs.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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