Qualifying for life insurance with liver cancer is not easy. . The liver is one of the body’s most vital organs. According to the American Cancer Society, liver cancer is the leading cause of cancer-related deaths worldwide so you can bet that life insurance companies will be skeptical about offering someone with a history of liver cancer coverage. That being said, qualifying for life insurance after liver cancer might be difficult, but it is not impossible!
Will I Qualify for Life Insurance With Liver Cancer?
Qualifying for life insurance with any type of 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 term life insurance after liver 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 in order for you to qualify. 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 liver cancer history such as:
What was the date of your liver cancer diagnosis?
What stage and grade was your liver cancer?
How was your liver cancer treated?
Are you cancer-free currently? If yes, for how long?
Did you have any recurrences of liver 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 liver 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 liver 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 Liver Cancer?
Life insurance after liver cancer will knock you out of the preferred health classes with virtually every life insurance company no matter how mild of a case your liver cancer was. Therefore, your best-case scenario would be a standard health class, which is considered the rate of the general population. If your liver cancer is a more severe case, then you could potentially be declined or postponed for coverage.
Common Outcomes for Life Insurance After Liver 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 liver 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 liver 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 liver cancer history would most likely not qualify for it anyway. Liver 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 liver cancer was.
Standard (available): Standard rates of the general population is your best-case scenario if you have a history of liver cancer. We see standard approvals for the healthiest of liver cancer applicants who have a long track record of being cancer free (5+ years) and were diagnosed with a relatively mild case of liver cancer (stage 0 or stage 1).
Substandard (available): This is the health class that we see most commonly with cancer cases. Life insurance companies are conservative by nature. While a standard health class is possible for mild cases of liver cancer, it is not guaranteed. A substandard rate after liver cancer is still a real possibility.
Decline/Postpone (available): If your liver cancer has progressed to stage 2, life insurance companies will want to see at least a minimum of 5 cancer-free years since your last treatment before considering you for an offer. In some cases, they may postpone making you an offer for 7-10 years. Additionally, if your liver cancer was a more severe case, you will most likely be declined for life insurance coverage. We usually see declines for liver cancer that has progressed to stage 3 or beyond, or metastasized (spread) into the lymph nodes.
What Are my Options if I Get Declined For Life Insurance With Liver Cancer?
If you get declined for life insurance with liver cancer, there are alternative options for coverage. In some instances, you may be postponed. The life insurance company will want to see more time pass to be certain that your liver 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 liver 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 liver 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 policy with a modified death benefit in the first 24 months. Simply put, no matter how serious your liver cancer was, guaranteed issue life insurance coverage will not decline you for coverage.
The Final Word
Life insurance after liver cancer can be complicated. Approvals for life insurance after liver cancer will depend on multiple factors, such as the severity of the liver 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 liver 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 liver cancer, do not hesitate. Please give our agency a call or fill out a quote request today.