Shopping for life insurance coverage after beating cancer can seem overwhelming or intimidating, but the good news is that the process can often be easier than you think and a policy will provide an invaluable peace of mind for both you and your family. Learn more about the life insurance options available to cancer survivors and how SelectQuote can help you find the right coverage for you.
Does life insurance cover cancer?
Traditional term and permanent life insurance policies usually cover cancer. If you have a policy in place and pass away from cancer, your beneficiaries should receive the policy’s death benefit. If you’re looking to purchase life insurance after you’ve been diagnosed with cancer, however, it’s crucial to be honest during the application process to determine what your coverage will or will not cover. There are many life insurance policies available to individuals who have or have had cancer; it’s just a matter of finding the right coverage for you.
Types of Life Insurance Available for Cancer Survivors
Although it can seem difficult to obtain a traditional life insurance policy following a cancer diagnosis, there are different types of life insurance coverage available to cancer survivors, including:
No Exam Life Insurance
No medical exam life insurance can be a strong option for cancer survivors, because your current health and health history won’t weigh as heavily (or at all) in the application process.
Accelerated Underwriting
Accelerated underwriting allows you to purchase life insurance on a fast track by avoiding some of the medical requirements you’ll find in a traditional application process.
Simplified Issue Life Insurance
With simplified issue life insurance, the medical exam is replaced with a health-related questionnaire.
Guaranteed Issue Life Insurance
Guaranteed issue life insurance can be a good option for cancer survivors, as there’s no medical exam, no health questionnaire, and it provides guaranteed coverage for those between the ages of 45-85.
SelectQuote Can Help Find Affordable Life Insurance For Cancer Survivors
At SelectQuote, we can help cancer survivors navigate the complexities of shopping for life insurance and find the right policy for them. We can compare life insurance quotes from some of the most trusted life insurance companies in the U.S. in just minutes on your behalf to ensure you have the life insurance coverage you and your family needs at a price you can afford.
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