Many people assume that you can only purchase a Life Insurance Policy when you don’t need one. This simply isn’t true. When diagnosed with cancer, regardless of one’s age and prognosis, it’s normal to consider the need for life insurance after years of thinking it was something that could be put off a little longer. There are plenty of cases where a cancer patient or survivor can purchase a new Life Insurance Policy at a reasonable cost.
Most cancers can be treated, and the current five year survival rate is more than three in five. It will always be easier to get life insurance the longer one remains cancer-free. However, that doesn’t exclude you from purchasing a Life Insurance Policy if you are still battling the disease. Even if one company will not write you a policy, keep in mind there are more than 200 other companies you can work with in the United States. The Benefit Link can help you ask the right questions and shop around for the right insurance for you.
There are two major types of life insurance. These are called term life insurance and whole life insurance. Term life insurance typically has a lower premium. If you are currently battling cancer or in remission, you are more likely to be approved for whole life insurance. Either way, you should be prepared to pay a higher rate as a cancer patient. You can help budget for the added expense by reevaluating your health insurance policy. It’s possible you may qualify for lower rates. You can always call The Benefit Link for free advice and support when evaluating your current coverage.
Be prepared. You’ll be asked a lot of questions when shopping for insurance and you’ll want to ask a lot of questions, too. Have your medical records organized and handy. The day of your final treatment or the day you were declared in remission may be especially important for insurance providers. Providing the company with as much information as possible will streamline the process.
Just as it is important to keep a positive attitude during cancer treatment, it is necessary to not view current roadblocks as permanent setbacks when applying for a Life Insurance Policy. If rates are sky high now, keep in mind they may go down drastically after five or seven years in remission. If one company refuses to insure you, consider yourself one step closer to finding the company that will. You have resources on your side to help you find the most competitive rates.
Call The Benefit Link at 1-866-630-0626 ext. 108 for guidance on acquiring a Life Insurance Policy as a cancer patient or survivor.
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