term life insurance and cancer

[IowaBrian]

About the insurance each company will have their own guidelines as to when someone is rated or flat denied coverage. In my case (working for a life company) I would be denied for the first year then rated after that for the next few years. Now it also depends how bad your cancer was, the form, non sem or sem along with many other things. Just because you have had cancer doesn't mean you can't get coverage before the 5 year mark it just might cost you a lot more for the coverage. As for adding to your coverage most companies if you add more coverage and I am not talking about a cost of living increase they can underwrite the new amount and the new amount could be in the contestable period per the policy wording. Which if something happened and the increase was the only part in the contest period they would pay out the original amount and investigate the newer part. Now every company is different on how long you would be in a contestable period and what they can look at also what state your policy was signed in could play a part in what they can look at if a claim is filed.
If you have any other question fire away I will try to help.
Brian

[huckchef]

Thanks Patti!
Many blessings,
Brian

[Hopeful]

My husband tried to increase his life insurance when he was 2 months in remission after chemo. They said the same thing, 5 years in remission and the company did ask if he had cancer.

Unfortunately, it came back 2 weeks later and he passed away last year.

Patti

[huckchef]

Thanks Robert! She is a true miracle!
SMDEMOM, I have checked with two companies and they say they can't do anything until after the five year mark. I was also under the impression of what you said that it's available but it will cost me! I'll keep looking around until the time comes!
Thanks to you all and God Bless!
Brian

[smdemom]

This differs from your question, but along the same line: my husband already had term life insurance before the tc but we wanted to increase the amount and were in the middle of all that when we got the diagnosis. I just want to share with anyone that may be worried that you can't increase term life until you are considered "cured", most can. If you are paying your premiums, you just let them know that you want to increase your amount. According to our State Farm agent, the only question that is allowed to be asked is if you are a smoker. Of course, this is Tennesee and it may vary from state to state. Also, you may still be able to get life insurance with tc, due to the fact that it has a high cure rate. You will just pay extreme higher premiums. I have controlled high blood pressure and pay the highest rate they can stick me with because of it, but I am still insurable.
Brain, have you checked with other agencies?

[huckchef]

I actually had my application sitting on my desk at home to be sent off for getting life insurance when I got the news and of course that got put on hold. I now have to wait 5 years before re-applying.
Has anyone else dealt with trying to get a life insurance policy after being diagnosed?
Thanks,
Brian