The following page outlines cancer life insurance policy plans. If you have suffered from this condition a cancer life insurance policy might be something that you are looking for. After you are diagnosed with cancer, how will you be able to buy a life insurance policy for yourself? Or how will you be able to face another battle of getting yourself a life insurance after you have survived cancer?
Finding A Cancer Life Insurance Policy
Finding a good cancer life insurance policy may be somewhat challenging but not necessarily impossible. Firstly, bear in mind that when you are diagnosed with cancer your chances for securing alife insurance policy depends greatly on the cancer type, stage and grade severity as well as the treatment plan that you need to undergo.
Insurance companies look for a number of factors when a cancer survivor applies for life insurance. Some of these factors include the term of the cancer since it was last treated, how good the result of the treatment was and how recent was the follow-up check up for the patient?
One should know that almost all insurers follow certain guidelines from the Surveillance, Epidemiology, and End Results of the National Cancer Institute’s Datebase. From this database, you will be able to trace close to three million cancer patients. Doctors and other medical experts submit reports to the database (without names) and they are generally assigned with corresponding numbers. The insurance companies will then access the information during underwriting.
The following are the things mostly reviewed by cancer life insurance policy providers: morphology, diagnosis stages, tumor locations, first course treatments and follow up procedures.
You also have to know that most insurance providers will not underwrite a cancer life insurance policy to anyone who is still undergoing cancer treatment, and depending on the kind of cancer that you have had the insurance company may add a surcharge, which is known as the temporary flat extra. For example, one particular life insurance company sometimes gives charges in the form of temporary flat extras for a period of two to five years depending on the applicant’s type of cancer and treatment.
However, there is a good news about this too! Although these extras cost a little more, they may vanish after a set period of time: these extra premiums are there to offset the risk to the cancer life insurance policy provider.
Finding a cancer life insurance policy after having suffered from this illness may prove difficult, but it should not be impossible. Always seek advice from an appropriately qualified and impartial professional who has specific experience in finding cancer life insurance policy agreements.