Qualifying for Life Insurance After Kidney Cancer

Planning for your future | Life Insurance

Qualifying for Life Insurance After Kidney Cancer

Qualifying for life insurance after kidney cancer can be difficult.  Our goal is to show you some possible options and how to navigate the life insurance market.

Kidney cancer (renal cancer) can be a serious life-threatening condition that took the lives of nearly $15,000 Americans in 2018 according to the American Cancer Society.  Many people often assume that if they were diagnosed with kidney cancer that they will automatically be denied life insurance but this is not necessarily true.

People with kidney cancer can have difficulty qualifying for life insurance after kidney cancer. 

However, you can qualify for coverage under a certain set of circumstances.  If you have been diagnosed with kidney cancer, you will want to work with a knowledgeable independent agent who has experience underwriting cancer and can broker multiple life insurance companies.

We cannot stress how important it is to work with a knowledgeable independent agent when purchasing life insurance after kidney cancer.  Every life insurance company has different opinions on underwriting.  Working with an agent who knows the underwriting niches of multiple life insurance companies can potentially save you thousands of dollars.

Qualifying for Life Insurance after Kidney Cancer- Can I qualify?

Qualifying for life insurance after kidney cancer or any cancer is not easy but not impossible either.  The life insurance company will want to know as much information regarding your health as possible.  No-exam life insurance after kidney cancer, for the most part, is out of the question.  The life insurance company will want to see recent lab work as well as your medical records.  The entire process takes approximately 4-6 weeks to gather all the relevant information and have it reviewed by a life insurance underwriter.

The life insurance company will want detailed information about your kidney cancer history such as:

  • What was the date of your kidney cancer diagnosis?
  • What stage and grade was your kidney cancer?
  • How was your kidney cancer treated? (radical nephrectomy, simple nephrectomy, or partial nephrectomy, chemotherapy, radiation therapy, biologic therapy, targeted therapy).
  • Are you cancer free currently? If yes, for how long?
  • Did you have any recurrences of kidney cancer?
  • Do you have a history of any other types of cancers?
  • What were the results of your recent lab work and checkups?
  • Did the kidney cancer metastasize (spread)?
  • Do you have a family history of cancer in your immediate family (siblings and parents)?
  • Do you currently smoke or have you ever smoked previously?
  • Do you have regular checkups with your doctor?

These questions will give your agent a detailed picture of your kidney cancer and health history.  Remember that an independent life insurance agent can use this information to anonymously compare the rates of multiple life insurance companies in order to gauge what company will give you the best deal so it is important to be as descriptive as possible.

What Rates Can I Expect With Kidney Cancer? Qualifying for Life Insurance After Kidney Cancer

Life insurance after kidney cancer will knock you out of the preferred health classes with virtually every life insurance company no matter how mild of a case your kidney cancer was.  Therefore, your best-case scenario would be a standard health class, which is considered the rate of the general population.  If your kidney cancer is a more severe case, then you could potentially be declined or postponed for coverage.

Common Outcomes for Life Insurance After Kidney Cancer:

  • Preferred Best (not available): Life insurance companies have slightly different names for their top health class.  You may have heard it called super preferred or preferred plus.  Regardless of what it is called, people with a history of kidney cancer are ineligible for this health class no matter how mild of a case it was.
  • Preferred (not available): Any preferred health class is considered a discount to the standard health class of the general population. Therefore, it is virtually impossible for someone with a history of kidney cancer to qualify for these classes due to their health history notwithstanding their current health.
  • Standard Plus (not available): Not every life insurance company offers this discounted health class, but a person with kidney cancer history would most likely not qualify for it anyway. Kidney cancer history is too risky for the life insurance company to offer a discounted rate better than the general population no matter how mild the kidney cancer was.
  • Standard (available): Standard rates of the general population is your best-case scenario if you have a history of kidney cancer. We see standard approvals for the healthiest of kidney cancer applicants who have a long track record of being cancer free (5+ years) and were diagnosed with a relatively mild case of kidney cancer.
  • Substandard (available): This is the health class that we see most commonly with cancer cases. Life insurance companies are conservative by nature.  If your kidney cancer progressed beyond the earlier stages to stage 2, you most likely will land somewhere in this range unless significant time has passed.
  • Decline/Postpone (available): Life insurance companies will want to see at least 2-5 cancer-free years since your last treatment before considering you for an offer.  Additionally, if your kidney cancer was a more severe case, you will most likely be declined for life insurance coverage.  We usually see declines for kidney cancer that has progressed to stage 3 or beyond, or metastasized (spread) into the lymph nodes.

The good news is that kidney cancer is often detected in the early stages (stages 0 or stage 1).  This makes treating kidney cancer much easier than if it were to progress to the later stages.  Statistics infer that the earlier the kidney cancer is discovered the greater the probability of survival is, which helps your chances of getting favorable life insurance rates.

What Are my Options if I Get Declined For Life Insurance With Kidney Cancer? 

If you get declined for life insurance with kidney cancer, there are alternative options for coverage. Don’t get to upset. Again, qualifying for life insurance after kidney cancer can be tough. 

In some instances, you may be postponed.  The life insurance company will want to see more time pass to be certain that your kidney cancer does not return.  If your health situation is favorable in the future, you can always apply again.  Regardless of whether you were postponed or declined for life insurance after kidney cancer, these alternative solutions can offer you some coverage in the meantime while you wait to reapply.

Your first option would be to purchase an accidental death insurance policy.  Accidental deaths are among the top 5 causes of life insurance claims, especially for younger people.  

Accidental death insurance protects your family from accidental deaths due to trauma or bodily injury.  While accidental death insurance does not pay out a death benefit for medically-related deaths, it does protect your family from catastrophic deaths, such as a car accident.

Your second option would be to purchase a final expense life insurance policy.  These life insurance policies are designed as a simplified issue, which means limited no-exam underwriting. They are whole life policies with death benefits that range from $5,000-$25,000; in some cases, up to $40,000 of coverage.

Even if your kidney cancer is so serious that you cannot qualify for simplified issue life insurance, there are guaranteed issue life insurance policies available that will issue you a life insurance policy regardless of the state of your health.  Instead of medical underwriting, the life insurance company will issue the the policy with a modified death benefit in the first 24 months. Simply put, no matter how serious your kidney cancer was, guaranteed issue life insurance coverage will not decline you for coverage.

The Final Word

Don’t give up on applying for life insurance. Just because qualifying for life insurance after kidney cancer can be tough, doesn’t make it impossible.

Life insurance after kidney cancer can be complicated.  Approvals for life insurance after kidney cancer will depend on multiple factors, such as the severity of the kidney cancer, the length of time that you have been free from cancer, etc.  This is an area where you need to work with a knowledgeable life insurance agent who understands the nuances of underwriting kidney cancer.

Our agency has helped individuals just like you secure affordable life insurance coverage with a history of cancer. Our veteran life insurance agents ask the detailed questions that the life insurance companies want to know and will compare the rates of multiple life insurance companies in order to get you the best deal.  Even if you have been declined for life insurance before, give our agency a chance to get you covered!

If you are looking for affordable life insurance after kidney cancer, do not hesitate.  Please give our agency a call or fill out a quote request today.

Drop a comment below.  Have you had trouble qualifying for life insurance after kidney cancer? We would to hear from you!

Resources:

American Cancer SocietyKidneyCancer.orgMedlineplus

FILED UNDER – CANCER

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