Reader’s Question:

I have a friend here in Delaware who is a cancer survivor and she asked for my help to look for a life insurance plan. Are there insurance companies still willing to offer life insurance for cancer?

Savion

Wilmington, DE

Before, it was very unlucky for most cancer survivors to buy life insurance coverage. This can be upsetting since life insurance is an important part of a good financial plan, particularly for a younger person. Life insurance providers used to have difficulty with the accuracy of evaluation of the risk of cancer survivors. There was very large difference from one individual to another and there wasn’t enough medical information about the life expectancy of cancer survivors.

At present, however, recent medical innovations and better knowledge of reducing the risk of having a return of cancer have made it a lot more possible for cancer survivors to live much longer. Because of that, a lot of life insurance providers now offer life insurance for cancer for those who have lived on for a specific number of years, normally five years, following the remission of their cancer.

A number of life insurance providers are being more open-minded as they offer life insurance for cancer at standard rates for women who are 40 years old or above, who have had breast cancer with no waiting period. They normally provide life insurance if the cancer was small, localized stage 1 condition and doctors confirm that she has powerful prognosis for survival. Also, the women should have finished therapy and the initial follow-up appointment without evidence of the illness found.

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