Whether you’re in cancer treatment or a cancer survivor, you should know that burial insurance for cancer patients is available. We can help you find affordable life insurance, burial insurance, or final expense insurance for you or others if you have cancer, or have had cancer in the past.
Burial insurance that is designed for cancer patients can provide insurance coverage regardless of the stage of cancer and how your health condition progressed. Whatever type of cancer you have or treatment you are taking, you will not have to take a medical exam or need to provide your medical records.
As a matter of fact, if you presently have cancer and being treated for it, you can still qualify. In fact, there is a plan that never asks any health questions at all.
If you’re looking for final expense life insurance and you’ve been diagnosed with cancer, keep reading.
FOR EASIER NAVIGATION:
CAN YOU GET LIFE INSURANCE IF YOU HAVE CANCER?
If you currently have cancer and taking treatment for it, coverage is still possible, but you may need to pay a little more and have a waiting period. This is completely unavoidable as no life insurance provider will offer you immediate coverage because of your current health situation.
Having cancer may mean you need to pay a bit more if it’s very recent. However, if you’ve been in remission for more than two years, you will qualify for immediate coverage with no waiting period.
Regardless, even if you have cancer, you will be able to purchase affordable burial insurance coverage.
INFORMATION WE NEED IF YOU HAVE CANCER
When you request a burial insurance quote, we will ask you some health questions to get a better idea of your past and current medical condition.
These questions may include:
- What type of cancer do you have?
- When were you diagnosed with cancer?
- What is the grade or stage of your cancer?
- What cancer treatments did you have?
- How long did your cancer treatment last?
- What medications do you take for cancer?
- Are you in remission now?
- How long have you been in remission?
- Have you experienced any relapses?
- Do you have a family history of cancer?
Your answers to these cancer questions will help us determine the type of burial insurance plan you will qualify for and how much life insurance companies will charge you.
UNDERWRITING BURIAL INSURANCE CANCER PATIENTS
The best way to get the lowest prices is by applying for burial insurance with underwriting (underwriting means they will ask health questions).
You will likely see cancer asked in the “knockout” section of the application this way:
- Do you currently have cancer?
- Have you ever been diagnosed with more than one occurrence of the same or different type of cancer? (excluding basal cell and squamous cell carcinoma)
- Has your cancer had metastasis to other parts of the body?
You will see cancer in the modified section of the application asked this way:
- In the previous 24 months, have you ever been diagnosed with any type of cancer?
- In the two years, have you been diagnosed with cancer, or been advised to receive chemotherapy or radiation therapy?
- In the previous 24 months, have you been diagnosed with cancer, or been advised to receive surgery?
- In the last three years, have you ever been treated for cancer?
Cancer has a 24 months minimum lookback period
If you have cancer, most insurance companies would require you to be in complete remission for a minimum of 2 years.
This means that if you have had cancer within the last two years, you will only qualify for guaranteed issue burial insurance with a two year waiting period and a bit higher premium.
PRESCRIPTION HISTORY CHECK
The insurance companies will electronically check your prescription history to verify your answer to the health questions and check your current health.
There are hundreds of different prescription medications used to treat cancer. If you have been taking any of the cancer drugs within the previous two years, most final expense insurance companies will assume that you are being (or have been) treated for cancer.
Medication is a common form of cancer treatment and these are the most common medications approved for cancer in the USA:
- Bortezomib (Velcade)
- Chlorambucil (Leukeran)
- Cyclophosphamide (Cytoxan, Neosar)
- Gemcitabine (Gemzar)
- Imatinib (Gleevec)
- Irinotecan liposome injection (Onivyde)
- Irinotecan (Camptosar)
- Methotrexate (Rheumatrex, Trexall)
- Oxaliplatin (Eloxatin)
- Tamoxifen (Nolvadex)
- Trastuzumab (Herceptin)
Taking any of these medications within the last two years will indicate to the insurance company that you are a cancer patient, and they will classify you as a high-risk applicant.
CANCER TYPES WHICH ARE NON-ISSUE TO BURIAL INSURANCE COMPANIES
Not all types of cancer can cause reduced life expectancy. Some types of cancer are non-life threatening and will not affect mortality.
These two specific types of skin cancer are a non-issue with every burial insurance company:
- Basal Cell Carcinoma
- Squamous Cell Carcinoma
Most burial insurance health questionnaire will specifically mention these cancers as exceptions. If you have either of them when you apply, you will be considered as a person without cancer.
IF YOU CURRENTLY HAVE CANCER
If you currently have any type of cancer which is not basal cell or squamous cell carcinoma, most life insurance companies with underwriting will flat out decline your application.
However, there is one type of insurance that you will qualify given your current cancer diagnosis, and that’s called guaranteed issue life insurance. This is the life insurance for terminal cancer patients.
GUARANTEED ISSUE BURIAL INSURANCE
Guaranteed issue life insurance policy has no medical exam and no health questions and will provide you insurance coverage with a two-year waiting period.
No life insurance company will give you immediate coverage because of your current cancer situation.
If you currently have cancer, your lowest cost option would be to take a guaranteed issue final expense life insurance. You can still get a low premium and only a two-year waiting period.
Guaranteed issue burial insurance offers insurance coverage despite having cancer. This policy will cost anywhere from 15-30% more compared to a policy with immediate coverage. This is great because the company will approve your application without even asking about your health.
Guaranteed life insurance will pay 100% of your death benefit if you die on an accident throughout the life of the policy. Also, if you pass away within the two-year waiting period, the company will refund all your premiums plus 10% interest.
After the waiting period, you are fully covered, and your beneficiary will receive your full death benefit if you die for any reason.
IF YOU ARE CURRENTLY IN TREATMENT
Common Cancer Treatments Include:
- Hormone therapy
If you’re presently undergoing any of these treatments, you will only qualify for guaranteed issue life insurance.
You won’t need to take a medical exam or answer any health questions to qualify. If you have cancer, you can quickly get this plan if you are 50-85 year old and a U.S. citizen.
While it cost a bit more than a plan with immediate coverage, you will not have to worry about the possibility of being denied coverage because you are currently undergoing cancer treatment.
YOU HAVE CANCER AND HAVE BEEN TREATED IN THE LAST 2 YEARS
Every final expense life insurance company asks about cancer within a minimum period of two years.
If you were diagnosed with cancer and currently undergoing any type of treatment, you fall under the highest risk category. Your life insurance option will be a modified plan or partial coverage.
A modified plan is the next best death benefit if you cannot qualify for immediate coverage.
A modified plan works this way:
If you purchased a $20,000 death benefit and pass away within the 12 months, your beneficiaries will receive 30% of your death benefit. If you die during the second 12 months of the policy, 70% of the death benefit will be received by your beneficiary. 100% death benefit will be given if you pass away after 24 months of the policy.
If you are receiving treatment for cancer within the previous two years, you cannot avoid a two-year waiting period.
There are times when it is cheaper to buy a guaranteed issue burial insurance than a modified policy.
YOUR CANCER HAD BEEN TREATED MORE THAN TWO YEARS
Some burial insurance companies only ask about cancer within the last two years.
Because your treatment for cancer has been longer than two years, you can honestly answer “no” to the cancer questions. You can now qualify for level death benefit with immediate coverage to those burial insurance companies that only have a two year look-back period on cancer.
You can now get to choose the best plan at the best price.
Level Death Benefit
This plan with immediate coverage will be offered to you if your cancer diagnosis and successful treatment are more than two years ago. It’s like life insurance before cancer diagnosis. You will be 100% covered from the first day, and you will not have a waiting period. If you pass away for whatever reason, your beneficiaries will receive your full death benefit.
This is a simplified issue final expense plan with only health questions and no medical exam. Your death benefit payout is guaranteed never to decrease. Your premium is fixed and will remain the same throughout the duration of your policy.
Level death benefit policy is generally cheaper compared with guaranteed acceptance life insurance.
We always try to get our clients level death benefit whenever possible if no medical condition would disqualify them for this plan. Sometimes this is not possible especially if the cancer is very recent or the treatment is less than two years.
YOU’RE IN REMISSION MORE THAN 24 MONTHS OR LONGER
If you have finished cancer treatment and now in remission – you have the best options. Since it’s been more than two years since your last treatment, you can honestly answer “No” to the cancer question on your application.
If this is your case, we can help you get approved for a level death benefit. This means immediate coverage with no waiting period at the lowest price possible.
Getting burial insurance cancer patients is definitely possible. You just have to be smart about your application. Do your research, and it’s always better to work with a qualified burial insurance agency like Funeral Funds.
We specialize in helping cancer patients, and survivors get the burial insurance policy they need. We will help you by pairing you will the life insurance company that offers the best rates for cancer patients and survivors.
HOW CAN FUNERAL FUNDS HELP ME?
Trying to find a policy with a cancer diagnosis needn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.
If you have a health history of cancer, let us help you; we will work with you side by side to find a plan that fits your needs.
We will work with you every step of the way to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time anymore searching for multiple insurance companies because we will do the dirty work for you. We will shop your case to different insurance carriers and get you the best price.
We work with many A+ rated insurance carriers that specialized in covering high-risk clients like you. We will search for all those companies to get the best rate. We will match you up with the best burial insurance company that gives the best rate. We will assist you in securing the coverage you need at a rate you can afford.
So, if you are looking for cancer funeral insurance, or cancer burial insurance, or cancer life insurance, we can help. Fill out our quote form on this page or call us at (888) 862-9456 and we can give you an accurate quote.