Burial Insurance with a history of Breast Cancer
Condition Underwriting Highlights
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If you are considering purchasing Burial Insurance with a history of Breast Cancer, you have landed in a good place. This review will briefly address the policy’s financial ratings and offerings, underwriting niches, pricing, and alternatives.
Breast Carcinoma/Breast Cancer Details
Whether for yourself or a loved one, if you are here researching burial insurance with a breast cancer history you already know it's a serious condition. The Centers for Disease Control reports that breast cancer is the leading cause of cancer death among women and the second leading cause overall.
Are Burial Insurance Carriers Concerned with Breast Cancer
Mow's that for an unsatisfying answer? Snarky, but true just the same. It turns out underwriting at burial insurance companies most care about whether the breast cancer is active and if not , how much time has elapsed since it was active.
Burial carriers treat breast cancer like all other cancers with the exception of basal cell skin cancer (which they are not concerned with). That is, they will outright decline an application if the proposed insured actively has cancer or is being treated for it.
The look back period for most carriers is two years. So you will need to have been free of treatment for two years to qualify for "day one" level coverage. This can be confusing as many women will take maintenance drugs like tamoxifen as a preventative. Preventative maintenance medications are not considered treatment. Radiation is considered treatment.
Burial Carriers will check your prescription history. These are some of the medications that are common with breast cancer.
Underwriting Expectations with Breast Cancer
As stated, within two years of treatment the application for immediate coverage will be declined. However, after 2 years you will have several options for immediate coverage and after three years none of the burial carriers are concerned at all.
That is, after 2-3 three years , depending on the state you live in ( not all carriers operate in all states), you will be eligible for immediate no waiting period level coverage. This is the best possible scenario.
Guaranteed issue Coverage
If you are within the two year window and are unable to qualify for immediate level coverage, you will be offered guaranteed issue coverage. guaranteed issue is simple and more expensive than traditional coverage.
Like traditional burial insurance there is no medical exam. In fact, there are no medical questions. These applications ask only age (age 50 minimum) ,gender and citizenship.
The price for not having to answer any medical questions- beyond rate that is- comes in the form of a waiting period. The waiting period is 2 years before your beneficiaries would be eligible to receive a death benefit.
This policy should be used to bridge yourself to the period when you are eligible for an immediate policy. It will provide some protection if you were to relapse and not be able to obtain the level policy. Additionally, it will protect against any malidy that prevents the bridge to immediate and cheaper coverage.
Note that the waiting period on guaranteed policies only applies to natural deaths as opposed to accidents. If your death is ruled accidental, there is no waiting period enforced.
The best priced guaranteed issue policies on the market right now are Gerber and AIG. AIG has the additional benefit of being the only guaranteed issue carrier to offer a living benefits rider.
Your Next Step
Thank you for choosing NODLB.com to research policies about Burial Insurance with a history of Breast Cancer. Should you have any questions, please do not hesitate to call or send over an email.