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- Diagnosed With Cancer? Now Buy Life Insurance
Diagnosed With Cancer? Now Buy Life Insurance
- By Douglas Adams
- Published September 11th, 2008
- Life Insurance
- Unrated
If you are among those people who are suffering from cancer and will survive for at least five years after the diagnosis has been done, then you may face another fight. It is buy a life insurance for yourself.
This process is really very challenging, but it is certainly not impossible. The sole possible chance of getting an insurance policy majorly depends on the type, stage and grade of the cancer. Sometimes it also depends on your treatment plan.
A huge relation exists between the rate you'll receive as well as between the curability of your cancer. Patients who suffer from treatable forms of breast and prostate cancer may be able to receive a "standard" as far as the normal circumstances are concerned.
There are chances that those people who have a history of leukemia may fall into a "substandard" or "high substandard" rating at best. There are chances that they may even receive declines. There are other rules as well.
Dr. Charles Levy, who is a senior vice president as well as a chief medical director of AIG American General Domestic Life Insurance Cos., says, "We're better and better able to differentiate the risks of individual cancers." Life insurers like AIG American General have sophisticated tables to determine premiums, where they can factor in cancer types and treatments. The
end result is better premiums because applicants aren't lumped together as an "average."
Most insurers have a rule that they will not give a policy to a patient who is still undergoing treatment for cancer. Depending on what kind of cancer a patient is suffering from, the life insurer can also add a particular amount of surcharge. This surcharge is called a temporary flat extra.
Let us take the example of AIG American General. The company sometimes charges surcharges for two to five years, again it depends upon the patient's cancer and treatment.
If you are a healthy cancer survivor, then for you getting life insurance will become even more feasible. You can do these things:
1. you must collect all possible medical records when ever you make your mind before you apply. According to Levy, "If it's fuzzy, we're more likely to err on the side of conservatism."
2. Make sure you have done justice with your doctor's treatment plans. For example, says Levy, if your doctor asked to see you back in one year and you haven't been back in four years, get to your doctor for your check-up before you apply for life insurance.
3. Get prices from a lot of companies.
4. look forward to avail group life insurance e help of a professional, fraternal, membership, or political organization, what ever suits you, in case if you are not able to avail a full death benefit.
This process is really very challenging, but it is certainly not impossible. The sole possible chance of getting an insurance policy majorly depends on the type, stage and grade of the cancer. Sometimes it also depends on your treatment plan.
A huge relation exists between the rate you'll receive as well as between the curability of your cancer. Patients who suffer from treatable forms of breast and prostate cancer may be able to receive a "standard" as far as the normal circumstances are concerned.
There are chances that those people who have a history of leukemia may fall into a "substandard" or "high substandard" rating at best. There are chances that they may even receive declines. There are other rules as well.
Dr. Charles Levy, who is a senior vice president as well as a chief medical director of AIG American General Domestic Life Insurance Cos., says, "We're better and better able to differentiate the risks of individual cancers." Life insurers like AIG American General have sophisticated tables to determine premiums, where they can factor in cancer types and treatments. The
Most insurers have a rule that they will not give a policy to a patient who is still undergoing treatment for cancer. Depending on what kind of cancer a patient is suffering from, the life insurer can also add a particular amount of surcharge. This surcharge is called a temporary flat extra.
Let us take the example of AIG American General. The company sometimes charges surcharges for two to five years, again it depends upon the patient's cancer and treatment.
If you are a healthy cancer survivor, then for you getting life insurance will become even more feasible. You can do these things:
1. you must collect all possible medical records when ever you make your mind before you apply. According to Levy, "If it's fuzzy, we're more likely to err on the side of conservatism."
2. Make sure you have done justice with your doctor's treatment plans. For example, says Levy, if your doctor asked to see you back in one year and you haven't been back in four years, get to your doctor for your check-up before you apply for life insurance.
3. Get prices from a lot of companies.
4. look forward to avail group life insurance e help of a professional, fraternal, membership, or political organization, what ever suits you, in case if you are not able to avail a full death benefit.