Can you still get life insurance if you’ve had breast cancer? Here’s what you need to know.
If you’re a breast cancer survivor, you’ll know that life is fragile and precious. You’ll know that you’re strong and that you’ll do whatever it takes to ensure the people you love are always taken care of. In this case, if you don’t already have life insurance, you might be thinking about getting it, but wondering if you’d be able to. The short answer is that yes, breast cancer survivors may be eligible for life insurance, but this will depend on various factors.
Understanding The Underwriting Process
For many breast cancer survivors, getting life insurance is possible, To determine the right policy for your needs, insurers will take you through an underwriting process, asking questions about your health, lifestyle, age, and occupation. As a breast cancer survivor, you might be asked about the severity of the cancer and your current remission status. Also, your age will always play a role in any underwriting process, regardless of your health.
As a breast cancer survivor, you might also face what’s known as a "loading." This means that your premiums will be higher compared to those of individuals with no history of cancer. Insurers may add this loading because they perceive a higher risk associated with covering cancer survivors. However, here’s some good news. If you've been cancer-free for a significant period, some insurers may consider dropping the loading, which can result in a lower premium.
Breast Cancer Survivorship And Estate Planning
As a breast cancer survivor, you may have conquered the disease, but it’s still essential to safeguard your future and protect your loved ones. That's where life insurance comes in. Life insurance is an important part of estate planning as it ensures our loved ones are financially protected by paying out a lump sum to your beneficiaries in the event of your passing. This can help them cover funeral expenses, outstanding debts, and ongoing living costs.
Life insurance also allows you to leave a lasting legacy, whether it be by funding your children's education or contributing to a charitable cause that's close to your heart.
Having survived breast cancer, you don’t want to dwell on the thought that it might ever return – or being diagnosed with any other terminal illness for that matter. Still, it’s good to know that if you have a life insurance policy with MiWayLife, it will include a Terminal Illness Accelerator benefit. This way, if you’re diagnosed with a terminal illness, you have the option to immediately claim 50% or 100% of the life cover amount.
In short, you know that life is precious – so it only makes sense to protect it.
Did you know:
You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.
