2022 Final Expense Insurance after Cancer [Save Money Now]

Man Thinking About Life Insurance for Cancer Patients

Final expense insurance after cancer is possible, whether you recently got a cancer diagnosis, are currently undergoing treatment, are in remission, or are cancer-free.

Whatever type of cancer you had in the past, there are final expense insurance options open for you, and buying final expense insurance can provide financial protection for your family.

In this article, we will explain your options and help you find affordable final expense insurance if you have had cancer in the past.

FOR EASIER NAVIGATION:


WHAT IS MY BEST INSURANCE OPTION AFTER CANCER?

There are two types of cancer that are non-life-threatening if treated properly and they will not affect your eligibility.

These two specific types of skin cancer are a non-issue with every burial insurance company:

  1. Basal Cell Carcinoma
  2. Squamous Cell Carcinoma

Both are non-life-threatening. 90% of skin cancer patients are diagnosed with these skin cancer types.

If you have basal cell carcinoma or squamous cell carcinoma, you will easily qualify for a level death benefit plan with first-day coverage.

Best Option: Level death benefit plan with first-day coverage


Your insurance options after cancer will depend on the following factors:

  • Date of cancer diagnosis
  • The time that passed since the last cancer treatment (chemotherapy, hormone therapy, immunotherapy, radiation, cryoablation, stem cell transplant, targeted therapy, and surgery
  • Medications taken
  • Time of remission
  • The date you became cancer-free


CANCER-FREE FOR MORE THAN TWO YEARS

If you have been cancer-free for more than two years, you will qualify for the best plan and the lowest rate.

Most life insurance companies only have a two-year lookback period on cancer. Being cancer-free for two years or longer will let you honestly answer “no” to the cancer question on the health questionnaire.

You will now qualify for a level death benefit plan with first-day coverage. You will be covered from the first day, and your beneficiary will receive 100% of your death benefit when you pass away.

Best Option: Level death benefit plan with first-day coverage


IN REMISSION FOR 24 MONTHS OR LONGER

If you have finished your cancer treatments and have been in remission for 24 months or longer, you could qualify for a level death benefit plan with first-day coverage.

Since it’s been two years or longer since your last cancer treatment, you can now honestly answer no to the cancer question in the health questionnaire.

Best Option: Level death benefit plan with first-day coverage


TREATMENT IN THE LAST 2 YEARS

Cancer has a two-year lookback period. If you have had any type of cancer and undergoing treatment in the last two years, your best insurance option is a first-day benefit plan.

You will be covered from the first day, and your death benefit will be phased in over time.

Best Option: First-day benefit plan


CURRENTLY, HAVE CANCER OR CURRENTLY UNDERGOING TREATMENT

If you are currently diagnosed with cancer and undergoing treatment, your best insurance option is a no health question guaranteed issue final expense insurance.

You will be approved for this policy regardless of your current medical condition.

Guaranteed issue life insurance has a two-year waiting period. If you pass away during the waiting period from natural causes, the insurance company will refund your premium plus interest, which is typically 10%.

After the waiting period, you will be fully covered, and your beneficiary will receive your full death benefit if you die for any reason.

Best Option: Guaranteed issue final expense insurance


WHAT TYPES OF FINAL EXPENSE INSURANCE SHOULD I AVOID?

PLANS TO AVOIDWHY?
Term lifePremiums increase after 5 years. Coverage ends after 80.
Pre-paid funeral plansExpensive
Universal lifeTied with stocks
No health questions policiesWith 2-year waiting period
Plans offering "teaser rates"$9.95 per unit plans or $1 buys $100,000 coverage
Over priced plansInsurance from TV and junk mail
Plans that accept mail-in paymentsRisky
Plans that accept Direct ExpressHigh lapse rate
Plans that accept Credit CardsHigh lapse rate


WHAT TYPE OF FINAL EXPENSE INSURANCE IS BEST?

FUNERAL FUNDS PLAN BENEFITSINCLUDED
1st Day CoverageYES
Rates NEVER IncreaseYES
Coverage NEVER DecreasesYES
Easy to get approvedYES
No Medical ExamYES
Same Day ApprovalYES
Death Claims Pay FastYES
Builds cash valueYES
Coverage Up To Age 121 YES


AFTER CANCER, DO I NEED A MEDICAL EXAM TO QUALIFY FOR FINAL EXPENSE INSURANCE?

You are NOT required to take a medical exam to qualify for final expense insurance after cancer.

When you apply for burial insurance, you only have to answer some basic questions about your health. The application process is simple, and you don’t need to provide medical records or blood and urine samples.

You’ll get the official approval from the insurance company often within minutes!


FINAL EXPENSE INSURANCE UNDERWRITING AFTER CANCER

Burial insurance companies have two ways of underwriting:

FIRST – They may ask you a series of health questions. Your answers to their questions will determine your eligibility.

SECOND – They will electronically review your prescription history to verify your health.

Common cancers the insurance companies want to know about:

  • Bladder Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Kidney Cancer
  • Lung Cancer –Non-small cell
  • Lymphoma – Non-Hodgkin
  • Melanoma
  • Oral and Oropharyngeal Cancer
  • Pancreatic Cancer
  • Prostate Cancer
  • Thyroid Cancer
  • Uterine Cancer


HEALTH QUESTION:

Every life insurance company considers cancer a high-risk medical condition. You can see cancer ask in the health questionnaire. You will typically see cancer asked this way:

  • In the previous 24 months, have you ever been diagnosed or been treated for internal cancer, melanoma, or leukemia?
  • Have you ever had or been diagnosed with more than one occurrence of the same or different type of cancer; or do you currently have cancer excluding basal cell and squamous cell carcinoma?
  • In the previous 24 months, have you been diagnosed with cancer or been advised to receive chemotherapy or surgery?


PRESCRIPTION HISTORY CHECK:

The insurance company will also check your current health by looking at your medication history.

Here is the most common cancer medication the insurance companies are on the lookout for:

  • 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)

If you’ve been taking any of these drugs in the last two years, the insurance companies will assume that you are being treated for cancer.


HOW MUCH FINAL EXPENSE INSURANCE DO I NEED AFTER CANCER?

The amount of burial insurance you should buy varies depending on your personal and financial circumstances. However, burial insurance should cover the cost of your funeral, burial, and final expenses.

The first step to figuring out how much burial insurance you need is to know your end-of-life expenses. Your funeral cost is often the biggest single expense you need to pay. Other end-of-life expenses to consider are your outstanding medical bills, living expenses, credit card bills, and other debts.

Here’s an example of a funeral cost breakdown from the National Funeral Directors Association.

AVERAGE FUNERAL COST WITH VIEWING AND BURIAL
Non-declinable basic services$2,300
Removal/ transfer of remains to funeral home$350
Embalming & preparation of the body$1,050
Use of facilities for viewing & funeral ceremony$965
Hearse$325
Service car/van$150
Basic memorial printed package$183
Metal casket$2,500
Vault$1,572
Median Cost of a Funeral With Viewing and Burial$9,420
AVERAGE FUNERAL COST WITH VIEWING AND CREMATION
Non-declinable basic services fee$2,300
Removal/ transfer of remains to funeral home$350
Embalming & preparation of the body$1,050
Use of facilities for viewing & funeral ceremony$965
Service car/van$150
Basic memorial printed package$183
Cremation fee (if firm uses a third-party crematory)$368
Cremation Casket$1,310
Urn$295
Median Cost of a Funeral with Viewing and Cremation$6,970
Rental Casket$995
Alternate Cremation Container$150


HOW SHOULD I PAY MY PREMIUMS?

The best way to pay your premium is through a savings or checking account. We recommend you set a bank draft from your savings or checking account. That way, the bank will automatically pay your premium each month, and you don’t need to worry about your policy lapsing due to non-payment.


CANCER AND FINAL EXPENSE INSURANCE RIDERS

Insurance policy riders add benefits to your policy. Adding insurance riders will enhance your policy to fit your needs. Some riders are built into your policy, while other riders can be added at an additional cost. Most riders are affordable, and it involves little to no underwriting.

Here’s a list of common burial insurance riders:

FUNERAL FUNDS ADD-ONSAVAILABILITY
Terminal Illness Add-On BenefitIncluded with most plans
Nursing Home Care Add-On BenefitIncluded with most plans


INFORMATION WE NEED IF YOU HAVE HAD CANCER

When applying for final expense insurance after cancer, it is important to provide as much information as possible.

We will ask you a series of health questions to get a better idea of your condition. These questions include:

  • What type of cancer did you have?
  • What year was your diagnosis?
  • What is the grade or stage of your cancer?
  • Have you received any cancer treatments like chemo or radiation therapy in the past 2 years?
  • How long did your cancer treatment last?
  • Have you experienced any relapses?
  • Are you in remission now?
  • How long have you been in remission?

We need to know your medical condition to be able to provide you with the best recommendation. The more information we get, the better our chances of finding affordable insurance coverage.


BENEFITS OF FINAL EXPENSE INSURANCE AFTER CANCER

Here are some of the benefits of purchasing a burial or funeral policy:

  • No medical exam or doctor’s visit required – easy to get approved.
  • Ease of issue – easy to qualify and get insurance coverage.
  • No Money Down to get approved – have your policy start whenever you want.
  • Level premium – your premium will never increase.
  • Fixed death benefit – your death benefit will never decrease for any reason.
  • Permanent protection – your policy can not be canceled by the life insurance company as long as you continue to pay your premiums.
  • Tax-free – the death benefit is directly paid to your beneficiary tax-free upon your death
  • Cash value builds up – burial insurance is a whole life policy that builds cash value over time.


OTHER COMMON USES FOR FINAL EXPENSE LIFE INSURANCE AFTER CANCER

All of these examples are appropriate uses for Final Expense Life Insurance:

  • Burial insurance plan after cancer
  • Cremation insurance plan after cancer
  • Funeral home insurance plan after cancer
  • Final Expense insurance plan after cancer
  • Prepaid funeral plan insurance after cancer
  • Mortgage payment protection plan after cancer
  • Mortgage payoff life insurance plan after cancer
  • Deceased spouse’s income replacement plan after cancer
  • Legacy insurance gift plan to family or loved ones after cancer
  • Medical or doctor bill life insurance plan after cancer

We can help you with any of the plans above. Your pricing will depend on your age, health, and coverage amount for each program option.


WHEN IS THE BEST TIME TO GET FINAL EXPENSE INSURANCE?

Getting life insurance before a cancer diagnosis is most ideal. However, final expense insurance for cancer patients is easily done in most cases. You need to be smart about which company you apply to.

It is always better to work with a qualified life insurance agency, life Funeral Funds.

We specialize in helping cancer patients qualify for the lowest-priced cancer insurance policy available. We can help you by pairing you with the life insurance companies that offer the best rates for cancer survivors.

If you’re a cancer survivor and you’ve been in remission for a significant amount of time, there is a good chance that you can find an affordable life insurance policy.


HOW CAN FUNERAL FUNDS HELP ME?

If you are a cancer survivor and you’ve been in remission for more than two years, you have the best options available.

We work with more than 30 life insurance companies, and we will shop your case with these companies. We can help you get the best insurance policy by pairing you with the life insurance company that offers the best rates for cancer patients.

If you are looking for cancer burial insurance, cancer funeral insurance, or cancer final expense insurance. We specialize in helping cancer patients qualify for the lowest-priced cancer insurance policy available.

If you have cancer, do not hesitate to call. Call us at (888) 862-9456 or fill out the quote form on this page to get an accurate quote.

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