Breast Cancer Life Insurance


Do you have breast cancer and you’re looking for life insurance protection? 

Whether you are a breast cancer survivor or currently have cancer of the breast, you may qualify for a life insurance policy.

Today, through improved screening and awareness, a woman’s risk of dying from breast cancer dropped 39% between 1989 and 2015 according to cancer.org.

It’s still one of the most common health issues presented to insurance carriers. Which indicates the insurance industry has a great deal of experience analyzing and underwriting the risk presented by a breast cancer applicant for life insurance coverage.

One of the most common impairments when underwriting life insurance is a history of breast cancer.

With the advances in medical care, abilities for treatment, and increasing awareness and self-exams we’re seeing more and more cases of women that are survivors of cancer and create a unique underwriting challenge for life insurers.

However, the good news is that if it is detected early and treated properly, those with breast cancer may qualify for affordable life insurance. 

The fact is that there are many people who apply for life insurance with breast cancer – this is a common health issue. The insurance industry has a lot of experience underwriting this health risk and you have access to life insurers that offer affordable coverage based on your personal situation and health history.

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Life insurance companies are the most lenient with applicants who have been diagnosed with in-situ cancer that has not spread to other parts of the body.

There are two types of in-situ breast cancer, ductal carcinomas and lobular carcinomas.

 

Ductal Carcinomas

Applicants who have been diagnosed with an in-situ ductal carcinoma may qualify for standard rates without a waiting period (Transamerica only) if the cancer was treated with radiation or a bilateral mastectomy. 

Two years past treatment, most companies will offer standard rates.

If the ductal carcinoma was treated by lumpectomy, a simple mastectomy, or a bilateral mastectomy and no radiation, table 2 rates may be available from Transamerica as soon as treatment is finished.

After 3 years, the applicant may qualify for a standard rate with other carriers.

 

Lobular Carcinoma

If the applicant was diagnosed with an in-situ lobular carcinoma that was treated with a lumpectomy only or a mastectomy, they may qualify for a standard rate from Transamerica as soon as they finish treatment.

Other companies typically offer a table 2 rate class unless the applicant is 60 or older, in which case, standard rates may be available. 

 

Stage 1 Carcinoma   

All companies will postpone applicants for at least 1-3 years after their treatment has ended. With Prudential, an applicant with a low-grade Stage 1a or 1b tumor may qualify for standard rates 1 year after treatment has ended. (Tumor must be 1.1 mm to 10 mm in size).  

All other companies have at least a 2-3 year waiting period for standard rates plus a flat extra of $5 to $10 dollars per $1,000 dollars of coverage. Most companies will charge a flat extra until you are 5 to 10 years past treatment. At this time, your flat extra will drop off and you’ll only be responsible for the standard rate class premiums. 

If you wait to apply for 5 to 10 years past treatment, you may qualify for a standard rate class with some companies.  

 

Stage 2 Carcinoma   

All companies will postpone applicants for at least 3-5 years after their treatment has ended.

After the 3 to 5 year waiting period, the applicant may qualify for standard rates plus a flat extra of $10 to $20 dollars per $1,000 dollars of coverage. Most companies will charge a declining flat extra until you are 7 to 10 years past treatment. At this time, your flat extra will drop off and you’ll only be responsible for the standard rate class premiums.

If you wait to apply for 7 to 10 years past treatment, you may qualify for a standard or table 2 rate with some companies,

 

Stage 3 Carcinoma

All companies will postpone applicants for at least 10 years after their treatment has ended.

After the 10-year waiting period, the applicant may qualify for a standard rate plus a flat extra of $10 to $20 dollars per $1,000 dollars of coverage. Most companies will charge a declining flat extra until you are at least to 15 years past treatment. At this time, your flat extra will drop off and you’ll only be responsible for the table 2 rate class premiums.  

If you wait to apply for 15 years past treatment, you may qualify for table 2 rates with some companies. 

 

*Please note, a limited number of companies offer insurance to applicants who have been treated for stage 3 breast cancer.

 

Breast Cancer Questions for Life Insurance

 

  • What was the age at diagnosis and date the treatment ended?
  • What was the specific type of breast cancer?
  • What was the stage of the cancer?
  • Was the cancer graded? If so, what grade was assigned – Grade I, Grade II or Grade III?
  • How was it treated? Lumpectomy or Mastectomy? Any chemotherapy or radiation?
  • Any metastasis or lymph node involvement?
  • If known, are there any positive receptors and what is the size of the tumor?
  • Do you take any medication at this time?
  • Has there been any evidence of recurrence?
  • Has there ever been any kind of other cancer diagnosed for the proposed insured?
  • Does the proposed insured have any other medical condition?

 

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