Burial Insurance for Patients with Cancer
Are there really options for burial insurance for those who have had cancer? Yes!
And there are still options for those who currently have it.
A cancer diagnosis does not mean you are excluded from getting life insurance.
There are plans called guaranteed issue life insurance that accepts virtually everyone.
How we get burial insurance for cancer patients
Whether you have previously had cancer or currently have it, there are options for you.
There will only be a few questions about your diagnosis:
- What type of cancer do (or did) you have?
- When did you last receive treatment or any kind?
- If you don’t currently have cancer, when was the last time you did?
- How many times have you been diagnosed with cancer?
By answering these questions, it will help us find a company who will provide you the coverage you need for the best available price.
To be completely honest, if you have cancer right now, most insurance companies will decline to offer you coverage.
However, there are policies called guaranteed issue life insurance that are still available to you from certain companies.
Waiting period
Something to keep in mind: if you have had or been treated for cancer within the last two years, any life insurance policy you are offered will have a two-year waiting period for its full benefit.
If you are to pass away, unless it was an accident, the insurance company will not pay out the death benefit. Your beneficiaries, at the very least, will receive all premiums you paid and possibly some interest.
The only two types of cancer that are an exception to this waiting period are basal cell carcinoma or squamous cell carcinoma. These two forms of cancer do not affect your ability to get final expense life insurance without a waiting period.
Cost of burial insurance for cancer patients
Guaranteed life insurance does have a higher premium than other policies. Sometimes, it can be as much as double the premium of a normal policy.
However, agencies like ours shop your policy with all of the highest-rated companies and can drive that cost way down. It will still be higher than normal because of the risk, but not nearly that much more expensive.
You’re cancer-free now but have had it within the past few years
If you have been cancer free with no treatment for at least two years, your options for life insurance become considerably better.
We can likely find you a policy with no waiting period. And the premiums become much better.
If you haven’t had cancer or been treated for it for longer than three years, you’ll not only qualify for a no-waiting period policy but you’ll also qualify for the best rates!
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