Colon Cancer and Life Insurance
On the average, about 93,000 people find out they have cancer after their first diagnosis every year.
The good news is that colon cancer is a curable health condition, but your chance of recovery is dependent on the stage of the cancer after your diagnosis.
If you have any form of cancer, it is unlikely any insurance company will be willing to give life assurance.
However, there are some possibilities of finding a life insurance company…
…that will be willing to give both you and your family members a life insurance policy.
Getting Life Insurance with Colon Cancer
Understanding colon cancer, but knowing how life insurance companies look at it is key to securing coverage. You’re probably an expert already about your specific cancer. Let’s go through how it will effect your life insurance options.
Colon cancer has 5 stages of development which are Stage 0 through to Stage 4.
Also known as “pre-cancer” stage, stage 0 is the stage at which if detected, an individual can be cured of colon cancer.
At Stage 0, the cancer has not really begun development, only that there are some cells which may turn cancerous.
If your cancer is at this stage, it is quite possible for you to obtain an approval for a life insurance policy.
But if the cancer has gotten to stage 4, the person’s likelihood of living for another 5 years is 11%.
When colon cancer has gotten to stage 4, it means the cancerous tumor has affected other vital organs of the body. Getting a life assurance policy at this stage of the cancer is very difficult because the chances of death is very high.
But if you’re ok with securing a policy with a $15,000 to $25,000 benefit it is 100% possible to get a life insurance policy. With a guaranteed issue life insurance policy, there are no health questions. It is a no exam life insurance policy that has a graded benefit. This means there is a waiting period before the full death benefit is paid out. Most companies have a 2 year graded death benefit.
In its simplest definition, colon polyps are large accumulation of cells in the colon. Although they may look harmless at first sight, they sometimes lead to cancer.
If you have successfully treated cancer in the past, there is a good possibility that you have had colon polyps. When you have had cancer in the past and you then develop polyps, a red flag will go off.
You will have to consult with your doctor to know if the polyps need be removed. But if you have not suffered cancer before and you find out that your polyps are benign have, you won’t have any difficult securing life insurance.
A standard health rating should not be a problem when this situation occurs. However, if you have any other form of medical complication coupled with colon polyps, an insurance company will typically demand a much higher premium from you.
Some of the symptoms include:
- Pain in the abdomen
- Infrequent stooling
Is it possible for me to get life insurance after surviving colon cancer?
It is quite possible to get a life assurance after surviving cancer. How quickly and easily is it to attain?
That question isn’t so simple.
Insurance companies will prefer to sell to you life insurance if they are assured the cancer won’t come back. Basically, what they want to know is if you are going to remain healthy in the years coming. Let’s say you were diagnosed of cancer 10 years ago.
You were able to beat the cancer and have remained in a good state of health since then. It will then be easier for the life insurance company to issue you a life insurance policy.
But if you survived the cancer a couple years ago, you will have a hard time getting life insurance because life insurance companies will see you as a high risk.
You options will be limited. If you’ve been denied life insurance in the past due to your cancer condition, you might have to consider opting for final expense burial insurance.
What will be required of me when applying for a life insurance?
Once you decide and apply with a life insurance company, the first thing they will likely research is your medical history. In certain situations they may even dig deeper depending on the case. They do this to assess your chances of living prior to giving you a life insurance policy.
It depends on the specific life insurance company, but below are some questions you might be asked:
- For how long have you suffered from colon cancer?
- Details about your present and past treatment?
- When did you discover you had colon cancer?
- How is your current health?
- Have you had polyps after successfully treating colon cancer?
- If yes, how often did this happen and how many instances?
- At what stage is your colon cancer
- If you are a colon cancer survivor, for how long now have you lived a healthy lifestyle?
But if you suffered or still suffering from colon polyps, here are some questions they may ask you:
- When exactly did you discover your first colon polyps?
- Were you able to successfully eliminate it?
- Your last colonoscopy was when? What was the outcome?
- Have you had colon polyps more than once? How many times?
- Is there anyone in your family been diagnosed with colon cancer?
Their aim of asking you these questions or any other one is to ascertain your health status and assess your risk.
What steps can I take after being denied life insurance due to my colon cancer or polyps?
Being denied of life insurance in the past doesn’t mean you’ll still be denied if you apply today.
As a matter of fact, your chances of getting a life insurance policy after being initially denied, is high if you have been in excellent health since the last time you applied. It is important to bear in mind that even the best life insurance companies are quite different with how they qualify you.
You might be denied life insurance because of colon polyps by one insurance company, only to be approved by another company that deems you healthy enough.
Finding the right life insurance carrier is the most important factor in getting an approval if you have colon cancer. It may not be easy if you go looking for the right life insurance company on your own because there are countless number of insurance carriers out there.
Life insurance for cancer patients is possible. It simply comes down to the specifics of your cancer and coverage goals. At Life Insurance Blog, we help find the companies that give you the best chance at an approval from over 60 top rated life insurance carriers. Our goal at Life Insurance Blog is to help you find the right life insurance company.
To help you get the right insurance company, we will first try to understand your past and present medical history as well as your lifestyle. Our recommendations are based on your specific information, and nothing more. We don’t push any particular life insurance carrier- We only want you to secure coverage at the best rate possible.
Please contact us for a free consultation at 888-411-1329 or simply complete our free quote form on this page. Thanks for visiting Life Insurance Blog and reading our post, Getting Life Insurance with Colon Cancer. Feel free to ask questions below or leave a comment below.