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Category: Life Insurance Blog

October Is Breast Cancer Awareness Month

October 6, 2016

How to Qualify for Breast Cancer Survivors Life Insurance

October is the time of year when medical professionals, survivors, and women from all different backgrounds come together to raise awareness for breast cancer. Breast cancer continues to be the second largest cause of cancer-related death among women. According to the National Breast Cancer Foundation, one in eight women will be diagnosed with breast cancer at some point during their lifetime. That amounts to over 246,000 women in the United States alone that are or will be diagnosed with breast cancer every year.

As shocking as these numbers are, it’s important that every woman understands how prevalent breast cancer is in the U.S. Take a look at how life insurance can help protect women during this difficult time by giving their families the financial security they need in a crisis.

 

Purchasing Life Insurance as Financial Protection

With the risk of being diagnosed with breast cancer so high, women everywhere can help themselves and their families by purchasing a life insurance policy sooner rather than later. Waiting too long to sign up could cost the patient and their loved ones thousands of dollars in future premiums. Having a quality life insurance policy gives the patient’s loved ones peace of mind that they will be taken care of in the event of the death of the cancer patient.

 

The Importance of Breast Cancer Survivors Life Insurance

The National Breast Cancer Foundation estimates that there are over 2.8 million breast cancer survivors in the United States. For these women, it’s essential that they are able to find quality life insurance policies in order to have some financial security in place for their loved ones. If the disease resurfaces, these women will need life insurance in order to protect their families from burdensome medical expenses and ongoing debt.

 

Life Insurance for Breast Cancer Survivors

Insurance companies will want to make sure that the applicant has done everything they can to treat their breast cancer and reduce their chances of a recurrence in the future. Breast cancer survivors that are interested in acquiring life insurance should have received full treatment and should be following up with their doctor on a regular basis. The insurance company will thoroughly review all of the patient’s medical history before issuing a life insurance policy.

It’s also critically important that the applicant has quit any bad habits that may increase the chances of a recurrence such as smoking or using harmful substances. Unfortunately, most insurance companies will not take on an applicant if they are currently seeking treatment. Survivors also have a better chance of locking down a good rate if it has been several years since the disease went into remission. Most insurance companies won’t offer a policy until at least five years since the last treatment.

Despite the growing importance of their financial contributions, women are less likely than men to have life insurance. And those who do have insurance often have lower coverage amounts. Regardless of the risk of breast cancer, it is important that women have adequate life insurance coverage to protect their families in the event of the unthinkable. If you are in need of life insurance coverage, or would like to evaluate your current coverage and rates, use our life insurance quote tool to get started.