For many cancer patients, the idea of life insurance may feel out of reach. Luckily, there are life insurance options available for those battling cancer.
While insurers typically look to insure those with lower-risk health issues, certain policies may be available to cancer patients. Here’s what to know about life insurance for cancer patients and how to compare plans.
Eligibility factors for life insurance. When applying to any life insurance policy, the following factors may influence eligibility and rates:
Age: Younger applicants have more life ahead and are typically provided with more favorable rates, all other factors equal.
Gender: Since women tend to live longer than men, females may be offered better rates, all other factors equal.
Health status: Life insurance companies base rates on lifestyle choices like tobacco use and look at the risk associated with a given occupation or hobby. Revealing a cancer diagnosis may prompt further questions that could change policy options and rates.