Life Insurance Policies for Cancer patients?

NewlyWedWife

Anyone know of Life Insurance companies that cover Cancer pre-existing? We just got married and didn't have time prior to finding out about my H37 diagnosis.
_________________
Believe
--------
Husband has Lung Cancer & Brain Tumor NSCLC Stage IV
Diagnosed Mar 2008
37 Yrs Old
Smoker 15 years
- - - - - -
My story thus far: http://cancerforums.net/viewtopic.php?t=9545
- - - - - -
Current treatments & Meds:
http://cancerforums.net/viewtopic.php?t=9550

simplyklb

I am not a life insurance agent.... However, I used to work in the underwriting department of a major life insurance carrier here in Kansas City. I issued policies. Your husband MIGHT be eligible for final expense (Coverage up to $50,000 usually). I suggest you contact a life insurance agent in your area and inquire about final expense.

Kristi
_________________
Dad - Andy, 70, diagnosed with SCLC in May 2008
2/20/38 - 10/15/08 Fly high, Dad!
Mom - Jackie, 67, diagnosed with NSCLC in May 2008

rmaureen · Experienced user Joined: 06 Oct 2005 Posts: 99

Hi NewlyWedWife:

I am enrolled in Physicians Life Insurance Company--(Guaranteed Life Program), a division of Physicians Mutual. They asked no health questions (and I do mean literally), so it may be worth checking into. I know there is a certain amount of time must pass before someone can collect the full amount of a claim, so I would thoroughly investigate the fine print. Hope this helps, posted their url below...

Rhonda

http://www.physiciansmutual.com

brainman

Rhonda, that do not even have the "Have you ever had...." type questions on the application?
_________________
Jim
Site Administrator and long-term cancer survivor
1992 Astrocytoma grade 2, left motor strip
2005 Recurrence this time said to be an Oligodendoglioma grade 3, same location.
My Story Part 1: http://cancerforums.net/viewtopic.php?p=7350
My Story Part 2: http://cancerforums.net/viewtopic.php?t=8029
Blog http://jimhawkinsport.blogspot.com/

rmaureen · Experienced user Joined: 06 Oct 2005 Posts: 99

Hi Brainman Very Happy

No, I did not have to answer a single health question! The company sent me a solicitation in the mail, which they been doing for some years for medical insurance. I looked it over, filled out a very short form along with first month's payment, and I was approved in a fairly short amount of time. They did not call me or send any additional paperwork with health questions on it either, just an acceptance form. Everyone else has rejected my applications, including the guaranteed life insurance programs because of the health questions. " Rolling Eyes

So much for guaranteed acceptance". I was really surprised, there were no "have you ever had... questions" at all, except it seems they may had ask about current smoking. And Physicians Mutual has been around for years, so they seem for the most part fairly reputable. It seems worth a try for sure.

Rhonda

simplyklb

What face amounts do the policies have, Rhonda?

Kristi
_________________
Dad - Andy, 70, diagnosed with SCLC in May 2008
2/20/38 - 10/15/08 Fly high, Dad!
Mom - Jackie, 67, diagnosed with NSCLC in May 2008

rmaureen · Experienced user Joined: 06 Oct 2005 Posts: 99

Hi simplyklb

I don't have the table chart depicting premiums and expenses anymore. Myself, for me I could only afford the cheapest plan, it $13.85 a month, and covers $5000 in burial, but naturally the benefit goes up depending what you choose as a premium. I also have a number here where you can find out more or to request a form, its 1-800-228-9100. It was also the most affordable of the guaranteed life plans I have looked into. A lot of plans will not even consider you if you have yet to survive 3 years of cancer, and when you beat that, they still find a way to decline you through the health questions.

Rhonda Very Happy

simplyklb

I didn't know if they give you any info on what the face amounts were up to. I know that with final expense the maximum death benefit (face amount) is $50,000.00.

Kristi
_________________
Dad - Andy, 70, diagnosed with SCLC in May 2008
2/20/38 - 10/15/08 Fly high, Dad!
Mom - Jackie, 67, diagnosed with NSCLC in May 2008

brainman

Rhonda, thanks. I have never seen a form that did not ask three question:

1. Are you a smoker?
2. Have you ever had cancer?
3. Do you have heart problems, high colesterol...

I am a none smoker but I funk the other two so it is good to know that I have options.
_________________
Jim
Site Administrator and long-term cancer survivor
1992 Astrocytoma grade 2, left motor strip
2005 Recurrence this time said to be an Oligodendoglioma grade 3, same location.
My Story Part 1: http://cancerforums.net/viewtopic.php?p=7350
My Story Part 2: http://cancerforums.net/viewtopic.php?t=8029
Blog http://jimhawkinsport.blogspot.com/

rmaureen · Experienced user Joined: 06 Oct 2005 Posts: 99

Hi Brainman,

You're welcome. I have never seen it either and it was almost too easy, so for a couple of months I remained suspicious...thinking a representative is surely going to call and grill me. Never happened! Very Happy

I hope it works out for all who apply, it is so difficult for those with a cancer diagnosis to get any life or medical insurance!

Rhonda

pbj11 · Site Admin Joined: 12 May 2007 Posts: 1302

There may be a clause, like the suicide clause in most policies, that you have to survive at least two years from the date of coverage.

All I know is that if you have an existing term policy, some companies will allow you to re-up with no proof of insurability. We had to do that with my husband's policy and the catch is that the payments skyrocket. They figure if you are not having a physical, there must be something wrong, and they charge you accordingly. Our payments quadrupled. Shocked

Good luck!

PBJ
_________________
Husband diagnosed with NSCLC Stage IV. (Non-Small Cell Lung Cancer) Fought & lived 2 1/2 years with multiple lines of treatment.

Post describing our battle: http://cancerforums.net/viewtopic.php?t=7026&postdays=0&postorder=asc&start=0

simplyklb

Usually there is a two-year contestability clause. The death claim could be contested within two years of policy being enforced. Many insurance companies do not have the suicide clause. I know of one insurer that doesn't.

Kristi
_________________
Dad - Andy, 70, diagnosed with SCLC in May 2008
2/20/38 - 10/15/08 Fly high, Dad!
Mom - Jackie, 67, diagnosed with NSCLC in May 2008

pbj11 · Site Admin Joined: 12 May 2007 Posts: 1302

Hi,

I had a chat with a close friend in his late 70's who worked in the insurance industry his whole life. This is what he sent me:

Here's the link for AARP's Graded Benefit Whole Life Plan written through New York Life and offered to AARP members. This will give you an idea of how this type of insurance works.
https://www.nylaarp.com/index.asp

Note: the Graded Benefit limits Death payment for first 2 policy years to 125% of premiums paid for death from natural causes and accidental deaths. There is also a 2 year Suicide Clause.

He searched Physician Mutual's Website.....but could not find any indication they offer this type of non-underwritten plans. I will copy and send the info from Rhonda to him to explore for everyone. (I keep him busy when his wife doesn't! Very Happy

)

Hope this info helps. Doesn't sound all that hopeful for under two years in the AARP scenario. Sad

PBJ
_________________
Husband diagnosed with NSCLC Stage IV. (Non-Small Cell Lung Cancer) Fought & lived 2 1/2 years with multiple lines of treatment.

Post describing our battle: http://cancerforums.net/viewtopic.php?t=7026&postdays=0&postorder=asc&start=0

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