When constructing your overall financial plan, life insurance can play a key role. That is because the proceeds from life insurance may be used for a wide variety of purposes by your survivors, such as paying off debt, continuing the payment of their living expenses, and / or for your funeral and other final expense costs.
While being approved for life insurance may be easy for some people, if you have a pre-existing health condition it can be a bit more difficult. This is because there are certain conditions that may impact your life expectancy – which can make it riskier for an insurance company to approve you for coverage. This can often be the case after you have been diagnosed with lung cancer.
Maybe you have another condition such as bipolar disorder and wondering if you would qualify for life insurance or you’re looking for high cholesterol life insurance. We can guide you in this process and help you to obtain the coverage you deserve.
This article is going to look at some of the problems that you may run into and the questions that the insurance companies are going to ask when you apply for life insurance. Hopefully, this article will give you all of the information that you need to give your family the insurance protection that they need.
How Lung Cancer Can Affect Your Application for Life Insurance
Lung cancer can be a serious health condition. This type of cancer is a type of cancer that is concentrated in the lungs. It is estimated that lung cancer is the number one cause of death in both women and men, not just in the United States, but around the world. The primary cause in the development of lung cancer is smoking. However, even just simply being exposed to the smoking of others – for example, second-hand smoke – can also cause this type of health condition.
There are two primary types of lung cancer. These are small cell lung cancer or SCLC, and non-small cell lung cancer, or NSCLC. These two categories of lung cancer can grow and spread in a different manner.
Some of the main symptoms of having lung cancer can include:
- Coughing (sometimes coughing up blood)
- Chest pain
- Weight loss
While there are several ways that lung cancer may be managed or controlled – such as chemotherapy, surgery, and radiation, the overall prognosis is usually poor. One of the main reasons for this is because doctors will often not find the disease until it is in a more advanced stage.
If for instance, lung cancer is caught early and it is localized to only the lungs, the five-year survival rate can be approximately 54 percent. However, the survival rate can drop significantly if the disease is more advanced and considered inoperable.
For these reasons, having lung cancer can have an effect on your application for life insurance. If you have lung cancer and you are applying for life insurance, there are some things that the life insurance underwriters will need to know in order to make the best decision possible.
For example, in addition to completing a general application for coverage, the insurance company will also want to know some more condition specific details. These may include the following:
- When were you initially diagnosed with lung cancer?
- What type of lung cancer do you have?
- What state and grade of lung cancer were you diagnosed with?
- Approximately what size was the tumor?
- How are you working to manage and / or control your lung cancer?
- Are you taking any medication for your condition – and if so, what type(s) of medication are you taking, and what is / are the dosage(s)?
- Over the past 12 months, have you had any relevant testing or diagnostic lab tests performed?
- Have you had surgery as a result of your lung cancer?
- Do you regularly meet with your doctor or other medical specialist regarding your lung cancer?
- Are / were you a smoker?
- Do you have any other major health issues in addition to your lung cancer diagnosis, such as diabetes?
In addition to the application and condition related questions, you will typically be required to take a medical examination. This exam includes meeting with a paramedical professional who will take a blood pressure and a heart rate reading from you. They will also take a blood and a urine sample from you for testing purposes. If you feel your health will not allow you to pass the medical exam, there are other options available to help you still obtain the life insurance coverage you deserve, such as a no medical exam policy or a guaranteed issue policy.
It is also possible that the insurance underwriters will want to review your medical records. These records may be requested from your primary care physician and / or a specialist that you see for your lung cancer. After all of your information has been received by the insurance company, a clearer understanding of your condition can be ascertained, and a decision can be made about your approval for life insurance coverage.
Can You Still Get Life Insurance After Lung Cancer?
While having lung cancer is a serious health issue, it can be possible to obtain life insurance coverage if you have had this condition – including medically underwritten coverage. In many instances, the insurance company will want to know that you have received full treatment for your lung cancer condition. The insurer will also want to know that you have completed your regular follow-up visits per your doctor’s orders. This is key because a recurrence of lung cancer may be possible, even for many years after your initial diagnosis.
If you are unable to qualify for a traditional, medically underwritten life insurance policy, there are still other options that may be available to you. For example, a guarantee issue life insurance policy will approve an applicant for coverage, regardless of their health condition, provide that you pay the premium. With guarantee issue life insurance, you cannot be turned down for the coverage. So, even though the premium for this type of life insurance may be more than that of a regular policy, it can provide you with the insurance protection, and the peace of mind, that you require.
How Much Will Life Insurance Cost
There are many different criteria that can factor into the premium price of a life insurance policy. These include the type of coverage and the amount of protection that you are purchasing. It will also include your age and gender.
Every insurance company is different, and all of them are going to view your application different and run it through different medical underwriting. That means that the rates that you’ll get for life insurance are going to vary wildly depending on the company that you contact. Some companies have more experience working with applicants with a history of lung cancer. Those companies are going to offer you better rates, while other companies could decline you for coverage or charge you expensive premiums.
Also, your health condition will be a primary factor. That is because, depending on your overall health, you could be considered more of a risk to the insurance carrier. Also, the price that you pay for coverage can also depend on the insurance company itself. With that in mind, it can be helpful to compare the policies of several insurance companies before you make a purchase.
Where to Find the Best Rates on Life Insurance – Even After a Lung Cancer Diagnosis
If you have had lung cancer and you are seeking life insurance, we can help. We work with many of the top life insurers in the industry, and we can help you with getting all of the details that you need. To move forward, just simply take a few moments to fill out the quote form on this page. We are also here if you have any questions or concerns. We can be reached directly via phone, toll-free, by calling 888-229-7522. Getting life insurance after lung cancer doesn’t have to be difficult. So, contact us today – we’re here to help. Are you a veteran and looking for Veteran’s Life Insurance or a pilot seeking life insurance that isn’t to expensive due to your risk? Let us help you in your search!
We know that shopping for life insurance can be a complicated and frustrating experience, especially as an applicant that has had lung cancer. That’s why we are here to help. It’s our mission to ensure that you’re getting the best plan possible. If you have any questions about getting life insurance as a high-risk applicant, don’t hesitate to call us. We would love to answer those questions and ensure that you’re getting the best plan possible.
You don’t know what’s going to happen tomorrow. Life insurance is the best way to provide for your family, even if something awful were to happen.