Finding the lowest rates for life insurance with prostate cancer is doable when applying with the right life insurance company! Please contact us today to assist you with your important coverage.
Life insurance is a complicated industry for many reasons.
Your life insurance premiums are all determined by your risk, which is assessed by individuals who look at you as a statistic rather than a human. What’s more is that all of these individuals, and the companies they work for, view risk differently! This means that you may be a risk to one company, but not to another.
That makes choosing a company complicated.
Additionally, there are many different types of life insurance. And, thanks to the addition of riders, no two policies are alike.
That makes choosing a policy complicated.
If you’ve been diagnosed with prostate cancer, the complications multiply. Can you even get coverage with a prostate cancer diagnosis? Will it be affordable? What companies will cover you?
If your head is spinning, we’re here to help. Let’s start with the number one question on everybody’s mind:
Can I Get Life Insurance With Prostate Cancer?
We’re not even going to tiptoe around this one. Yes.
You read that correctly. Yes. You can get life insurance coverage with prostate cancer. You can even find affordable life insurance coverage with a prostate cancer diagnosis. The first thing you need to know about the life insurance industry is to use your disadvantages to your advantage.
If that sounds like a Confucian riddle, it’s not. Here’s an example: Bob was diagnosed with prostate cancer. Thanks to early detection, it was caught in a local stage and his doctor recommended a “watchful waiting” approach, including regular screenings and monitoring its growth. Bob is in otherwise excellent health, and knows that if he tells his life insurance company, he’ll have to pay more for his premiums, because his company views prostate cancer as high risk. Bob is at a disadvantage.
But where one door closes, another opens for Bob. His current company may not look favorably upon prostate cancer; however, Bob’s agent knows three different companies that will cover him affordably.
Bob’s advantage, here is his agent. You see, agents are constantly researching insurance companies and updates in their underwriting. This allows them to quickly and easily find the companies that will view your risk favorably, even if you have prostate cancer.
We’re going to let you in on the secret to finding a good agent if you’ve been diagnosed with prostate cancer. The secret is simple: find an agent who is knowledgeable about the disease.
In many cases, underwriters see the word cancer and immediately flag you as a risk. With prostate cancer, this isn’t necessarily a fair assessment.
Prostate cancer grows so slowly that most men don’t seek treatment for years, instead monitoring the cancer through frequent doctor’s visits, PSA screenings and digital rectal exams. Additionally, the survival rates for non-metastasized prostate cancer are good; according to the American Cancer Society, the 5-year survival rate for this type of cancer is 100%, the 10-year rate is 99% and the 15-year rate is 94%.
If you find an agent who is not an expert in both prostate cancer and life insurance, you’re only communicating a portion of your risk to underwriters. Neglecting to inform carriers can end up costing you more money in premiums or leaving your family without life insurance.
Our agents not only have a pulse on the finger of the life insurance industry, but they do their research about prostate cancer. They aren’t doctors, but they are knowledgeable about the disease, new breakthroughs in treatments and prevention and survival statistics. This allows us to communicate your risk accurately to insurers.
Can I Find Affordable Premiums With Prostate Cancer?
Yes, affordable premiums are possible with prostate cancer.
There are a few steps you will need to take and some information your agent will need before finding a premium to suit you and your family. You will need to:
- Calculate how much life insurance you actually need. *Remember: the bigger the policy, the more you pay!
- Determine the type of life insurance you are looking into buying, because you may end up paying more for the type. For example: whole life insurance is always going to cost more than term life.
- Have a record of your most recent screening, including: PSA levels, Gleason Scores, prognosis and treatment options
- Bring updated medical records!
- Detail your family history with prostate cancer and other high-risk diseases
- Let your agent know if you have had any other medical complications or diseases
- Provide a detailed list of the medicines you are taking, both over-the-counter and prescribed
Once you have compiled all of this information, your agent will be able to walk you through your insurance options and help you project what your risk will be. Then, he or she will present you with carrier options.
The best part about having an agent at your side is that the knowledge they provide allows you to competitively shop for coverage! This is because they take the guesswork out of searching for insurers that will take on your risk and present you with options.
Another pro tip? Having options is the key to finding the best price!
What Companies Will Cover Me?
The answer to this isn’t as simple as the answers to the last two questions.
This is because life insurance underwriting guidelines are constantly changing and evolving. Thanks to emerging technologies and innovations in research and treatment, the medical world (and the life insurance world) reveals new information on the treatment, management and diagnosis of prostate cancer and other diseases.
A prime example? Smoking.
Decades ago, everybody smoked! It wasn’t uncommon to see pregnant women smoking or to be able to light up on an airplane. It wasn’t until 1964 that the United States Surgeon General published the first report of the Surgeon General’s Advisory Committee on Smoking and Health, publicly announcing the harmful effects of cigarette smoke.
Prior to that report and the cultural changes it brought about, life insurance companies wouldn’t have batted an eyelash at covering a chronic smoker. Now, while it is still possible to find coverage, smokers pay a heavy fee for their coverage.
In a similar vein, all of the research that goes into studying the dietary, lifestyle and genetic factors of prostate cancer are helping to shape the face of life insurance coverage and underwriting.
The catch is that, until research catches on or until life insurance carriers take the time to learn more about prostate cancer, some companies will still view you as a risk.
If you’ve been diagnosed with prostate cancer and are curious about what companies will cover you, give us a call today! In order for us to find you the best companies, we’ll take the time to get to know you and present you with the best coverage options available.
Uncomplicate Your Life Insurance Search
Finding the right policy and company for you doesn’t have to be complicated.
Think of your life insurance agent as a road map toward your perfect coverage. Because we take the time to research prostate cancer and because we are experts in the life insurance industry, we are able to bypass the frustrating traffic jams and roadblocks of looking for coverage, taking you straight to the best options.
Shopping for a life insurance policy shouldn’t be stressful. You can find affordable coverage if you’ve been diagnosed with prostate cancer and we can help. Give us a call today to get started.