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Thread: Life Insurance Policies for Cancer patients?

  1. #1
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    Life Insurance Policies for Cancer patients?

    Anyone know of Life Insurance companies that cover Cancer pre-existing? We just got married and didn't have time prior to finding out about my H37 diagnosis.
    Believe
    --------
    Husband has Lung Cancer & Brain Tumor NSCLC Stage IV
    Diagnosed Mar 2008
    37 Yrs Old
    Smoker 15 years
    - - - - - -
    My story thus far: http://cancerforums.net/viewtopic.php?t=9545
    - - - - - -
    Current treatments & Meds:
    http://cancerforums.net/viewtopic.php?t=9550

  2. #2
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    I am not a life insurance agent.... However, I used to work in the underwriting department of a major life insurance carrier here in Kansas City. I issued policies. Your husband MIGHT be eligible for final expense (Coverage up to $50,000 usually). I suggest you contact a life insurance agent in your area and inquire about final expense.

    Kristi
    Dad - Andy, 70, diagnosed with SCLC in May 2008
    2/20/38 - 10/15/08 Fly high, Dad!
    Mom - Jackie, 68, diagnosed with NSCLC in May 2008
    3/22/41 - 12/30/09 Fly high, Mom!

  3. #3
    Hi NewlyWedWife:

    I am enrolled in Physicians Life Insurance Company--(Guaranteed Life Program), a division of Physicians Mutual. They asked no health questions (and I do mean literally), so it may be worth checking into. I know there is a certain amount of time must pass before someone can collect the full amount of a claim, so I would thoroughly investigate the fine print. Hope this helps, posted their url below...

    rmaureen

    http://www.physiciansmutual.com

  4. #4
    Administrator Top User brainman's Avatar
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    Rhonda, that do not even have the "Have you ever had...." type questions on the application?
    Jim
    Long-term cancer survivor
    1992 Astrocytoma grade 2, left motor strip
    2005 Recurrence this time said to be an Oligodendroglioma grade 3, same location.
    http://cancerforums.net/viewtopic.php?t=2405
    My Story Part 1: http://cancerforums.net/viewtopic.php?t=2528
    My Story Part 2: http://cancerforums.net/viewtopic.php?p=7350
    My Story Part 3: http://cancerforums.net/viewtopic.php?t=8029

  5. #5
    Hi Brainman

    No, I did not have to answer a single health question! The company sent me a solicitation in the mail, which they been doing for some years for medical insurance. I looked it over, filled out a very short form along with first month's payment, and I was approved in a fairly short amount of time. They did not call me or send any additional paperwork with health questions on it either, just an acceptance form. Everyone else has rejected my applications, including the guaranteed life insurance programs because of the health questions. " So much for guaranteed acceptance". I was really surprised, there were no "have you ever had... questions" at all, except it seems they may had ask about current smoking. And Physicians Mutual has been around for years, so they seem for the most part fairly reputable. It seems worth a try for sure.

  6. #6
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    What face amounts do the policies have, Rhonda?

    Kristi
    Dad - Andy, 70, diagnosed with SCLC in May 2008
    2/20/38 - 10/15/08 Fly high, Dad!
    Mom - Jackie, 68, diagnosed with NSCLC in May 2008
    3/22/41 - 12/30/09 Fly high, Mom!

  7. #7
    Hi simplyklb

    I don't have the table chart depicting premiums and expenses anymore. Myself, for me I could only afford the cheapest plan, it $13.85 a month, and covers $5000 in burial, but naturally the benefit goes up depending what you choose as a premium. I also have a number here where you can find out more or to request a form, its 1-800-228-9100. It was also the most affordable of the guaranteed life plans I have looked into. A lot of plans will not even consider you if you have yet to survive 3 years of cancer, and when you beat that, they still find a way to decline you through the health questions.

  8. #8
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    I didn't know if they give you any info on what the face amounts were up to. I know that with final expense the maximum death benefit (face amount) is $50,000.00.

    Kristi
    Dad - Andy, 70, diagnosed with SCLC in May 2008
    2/20/38 - 10/15/08 Fly high, Dad!
    Mom - Jackie, 68, diagnosed with NSCLC in May 2008
    3/22/41 - 12/30/09 Fly high, Mom!

  9. #9
    Administrator Top User brainman's Avatar
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    Rhonda, thanks. I have never seen a form that did not ask three question:

    1. Are you a smoker?
    2. Have you ever had cancer?
    3. Do you have heart problems, high colesterol...

    I am a none smoker but I funk the other two so it is good to know that I have options.
    Jim
    Long-term cancer survivor
    1992 Astrocytoma grade 2, left motor strip
    2005 Recurrence this time said to be an Oligodendroglioma grade 3, same location.
    http://cancerforums.net/viewtopic.php?t=2405
    My Story Part 1: http://cancerforums.net/viewtopic.php?t=2528
    My Story Part 2: http://cancerforums.net/viewtopic.php?p=7350
    My Story Part 3: http://cancerforums.net/viewtopic.php?t=8029

  10. #10
    Hi Brainman,

    You're welcome. I have never seen it either and it was almost too easy, so for a couple of months I remained suspicious...thinking a representative is surely going to call and grill me. Never happened! I hope it works out for all who apply, it is so difficult for those with a cancer diagnosis to get any life or medical insurance!

  11. #11
    Administrator Top User pbj11's Avatar
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    There may be a clause, like the suicide clause in most policies, that you have to survive at least two years from the date of coverage.

    All I know is that if you have an existing term policy, some companies will allow you to re-up with no proof of insurability. We had to do that with my husband's policy and the catch is that the payments skyrocket. They figure if you are not having a physical, there must be something wrong, and they charge you accordingly. Our payments quadrupled.

    Good luck!

    PBJ
    Husband diagnosed with NSCLC Stage IV in 3/2005. Fought & lived over 2 1/2 years with multiple lines of treatment.

    Post describing our journey: http://cancerforums.net/viewtopic.ph...er=asc&start=0

    Left my embrace to live with our Heavenly Father in October of 2007 and now breathes with ease forever. I will miss this gentle, giving soul with the easy smile for the rest of my days, but have faith we will be together again. He's just getting a little break from me!

  12. #12
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    Usually there is a two-year contestability clause. The death claim could be contested within two years of policy being enforced. Many insurance companies do not have the suicide clause. I know of one insurer that doesn't.

    Kristi
    Dad - Andy, 70, diagnosed with SCLC in May 2008
    2/20/38 - 10/15/08 Fly high, Dad!
    Mom - Jackie, 68, diagnosed with NSCLC in May 2008
    3/22/41 - 12/30/09 Fly high, Mom!

  13. #13
    Administrator Top User pbj11's Avatar
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    Hi,

    I had a chat with a close friend in his late 70's who worked in the insurance industry his whole life. This is what he sent me:

    Here's the link for AARP's Graded Benefit Whole Life Plan written through New York Life and offered to AARP members. This will give you an idea of how this type of insurance works.
    https://www.nylaarp.com/index.asp

    Note: the Graded Benefit limits Death payment for first 2 policy years to 125% of premiums paid for death from natural causes and accidental deaths. There is also a 2 year Suicide Clause.

    He searched Physician Mutual's Website.....but could not find any indication they offer this type of non-underwritten plans. I will copy and send the info from Rhonda to him to explore for everyone. (I keep him busy when his wife doesn't! )

    Hope this info helps. Doesn't sound all that hopeful for under two years in the AARP scenario.

    PBJ
    Husband diagnosed with NSCLC Stage IV in 3/2005. Fought & lived over 2 1/2 years with multiple lines of treatment.

    Post describing our journey: http://cancerforums.net/viewtopic.ph...er=asc&start=0

    Left my embrace to live with our Heavenly Father in October of 2007 and now breathes with ease forever. I will miss this gentle, giving soul with the easy smile for the rest of my days, but have faith we will be together again. He's just getting a little break from me!

  14. #14
    The words "pre-existing condition" and "experimental procedure" are often bad news for sick patients in the U.S. because in many circumstances, health insurance providers are often not required to cover associated costs. In this article we'll explain the terminology to help you avoid the challenges that can arise when your medical needs are not covered by your health insurance.

    Pre-Existing Condition
    A pre-existing condition is a medical condition that existed prior to the date the patient signed up with a health insurance provider. Most insurance companies use one of two definitions to identify such conditions. Under the "objective standard" definition, a pre-existing condition is any condition for which the patient has already received medical advice or treatment prior to enrollment in a new medical insurance plan. Under the broader, "prudent person" definition, a pre-existing condition is anything for which symptoms were present and a prudent person would have sought treatment. Pre-existing conditions can include serious illnesses, such as cancer, less serious conditions, such as a broken leg, and even prescription drugs. Notably, pregnancy is a pre-existing condition that will be treated regardless of prior treatment.

    LINK DELETED PER FORUM POSTING POLICIES. PLEASE REVIEW AT TOP OF MAIN PAGE AND COMPLY. THANK YOU.

  15. #15
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    HELLO,
    I am an insurance underwriter. I came onto this sight, because recently I was able to write a policy for an HIV positive individual. He had told me he was turned down by 14 different agents. After issuing his policy his family thanked me, and told me that I should get the word out to others who might be in the same position. One of the companies I deal with is Presidential Life Insurance Co. They offer a Graded Benefit Policy from 2k-50k age up to 80 years old. They are based in Nyack New York. They have agents throughout the country. [Link deleted as per policy...please read our policies before posting] I am providing this info in hopes that it will help ease the burden on the loved ones that are left behind. My prayers are with you all. I hope this helps.

    H
    Last edited by ChemoMan; 05-01-2011 at 01:22 AM. Reason: Link violation

  16. #16
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    Nice answer. For insurance plans I prefer the Aegon Religare life insurance plans.

  17. #17
    Senior User Buzzard's Avatar
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    I am one of the very lucky ones. When I was young and healthy, I only had minimal life insurance. When I was diagnosed, I had just signed up for group coverage of 250K at my employer. A year later, when I thought I had it licked, switched employers, ported the first policy, and signed up for group coverage-another 240K-with the new employer. As luck would have it, switched employers again, so ported that second policy. Current (and unfortunately almost certainly my last employer) pays for 10K for all workers, so I have 500K to leave my wife and kids. And in running the numbers, 500K will only get her barely to retirement age, and she will have to be careful at that. Oh, and I pay over 400 bucks a month for this coverage. But I would lose my home before I let those policies lapse.
    Moral of the story: Show this thread to your kids and their spouses. When you are young and healthy, term insurance is so cheap it is ridiculous. Buy all they will sell you and lock in the price for at least 20 (30 is even better) years.
    DX with Lung Carcinoid Tumor 12/04
    Double Lobectomy 3/05
    DX with Rectal Cancer 12/26/07 Merry Christmas!
    Radiation/Chemo 1/08
    Rectal Resection 3/08, permanent colostomy. Stage 2C
    More chemo 5/08
    Chemo fries bone marrow, 9 days in hospital isolation 7/08
    Recurrence confirmed in pelvic region 12/09
    Tumor radiated with Cyberknife treatment 3/10
    Recurrence/metastasis in pelvis/abdomen 11/10
    Xeloda/Avastin 12/10 to 01/13
    Progression to lungs found 1/13
    Erbitux 01/13 to 01/14
    Acute renal failure, six days in hospital, all chemo stopped for now, 11/13
    Restarted Erbitux, lower dose 12/13
    Kidney function dips again, chemo suspended again. 2/14
    New chemo regimen of low-dose Irrenotecan started 4/14.
    Sounds like a lot of fun, doesn't it?

 
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