Insurance companies classify people by risk factors.
Most insurance companies have several rate tables so that they can place a customer in a class that charges a fair rate for their risk of dying.
A person with an average health history is classified standard.
There are tables with a lower rate than standard for people in exceptional health and tables with higher rates for people with higher mortality risks.
Below looks at how an insurance company may view a woman applying for Life Insurance soon after discovery and treatment for breast cancer.
A history of advanced breast cancer stage III or IV will usually disqualify a person from consideration for life insurance immediately after diagnosis and treatment.
Stage II breast cancer, size greater than 2cm, will be considered if there is no lymph node involvement and no metastasis.
If the size was under 2cm and only 1 or 2 lymph nodes were involved coverage may be considered.
Stage I breast cancer with no lymph node involvement and no metastasis for a person under 45 will probably be postponed for 5 years.
After 5 years standard + 25% may be available.
At ages 45 to 65 standard + 50% with no waiting period may be available.
Age 65 and up standard + 100% with no waiting period may be available.
Stage 0 breast cancer in a person over 40 may qualify for standard while a person under 40 may pay standard +100%.
A good underwriter will look at all the factors involved on each case.
He or she will pay close attention to the pathology report.
They know that non-invasive cancers have a better prognosis that invasive tumors and the risk is less for ductal non-invasive than for lobular non invasive breast cancer.
Other things that effect risk are the amount of time passed without recurrence, adequate regular follow up care and testing and menopausal status.
A person with medical history needs an agent who is willing to spend the time looking for the company and underwriter who will give you a fair price.
They know you need the insurance as much or more than anyone else.
Most insurance companies have several rate tables so that they can place a customer in a class that charges a fair rate for their risk of dying.
A person with an average health history is classified standard.
There are tables with a lower rate than standard for people in exceptional health and tables with higher rates for people with higher mortality risks.
Below looks at how an insurance company may view a woman applying for Life Insurance soon after discovery and treatment for breast cancer.
A history of advanced breast cancer stage III or IV will usually disqualify a person from consideration for life insurance immediately after diagnosis and treatment.
Stage II breast cancer, size greater than 2cm, will be considered if there is no lymph node involvement and no metastasis.
If the size was under 2cm and only 1 or 2 lymph nodes were involved coverage may be considered.
Stage I breast cancer with no lymph node involvement and no metastasis for a person under 45 will probably be postponed for 5 years.
After 5 years standard + 25% may be available.
At ages 45 to 65 standard + 50% with no waiting period may be available.
Age 65 and up standard + 100% with no waiting period may be available.
Stage 0 breast cancer in a person over 40 may qualify for standard while a person under 40 may pay standard +100%.
A good underwriter will look at all the factors involved on each case.
He or she will pay close attention to the pathology report.
They know that non-invasive cancers have a better prognosis that invasive tumors and the risk is less for ductal non-invasive than for lobular non invasive breast cancer.
Other things that effect risk are the amount of time passed without recurrence, adequate regular follow up care and testing and menopausal status.
A person with medical history needs an agent who is willing to spend the time looking for the company and underwriter who will give you a fair price.
They know you need the insurance as much or more than anyone else.
SHARE
