If you’re one of the thousands of men who have dealt with prostate cancer life insurance shouldn’t be another uphill battle for you. If you are looking for a policy, we can be a great resource to you.
Any time the word cancer comes up when talking to an insurance company, a red flag is raised. Fortunately, a man who has battled prostate cancer can still be eligible for a traditional policy from a few select carriers.
If you want an accurate quote, we can help.
Below you’ll find detailed information about how prostate cancer affects life insurance, what you can do to get the best chance of an approval, and what ratings and premiums you can expect before you apply.
According to the National Cancer Institute, 233,000 men will be diagnosed with prostate cancer and nearly 30,000 deaths will occur in 2014. While it predominantly begins in older men, there are many cases which occur in younger males also. But as discovery and advancements have increased, the percentage of men living after diagnosis has only increased. The 5-year survival rate in 2005 was as high as 99.6%.
This is great news when looking at prostate cancer life insurance because the greater chance of a long and healthy lifespan, the lower rates you can expect across the board. As risk decreases, so do premiums. Yet, there is always a chance of death, especially if discovery is too late, so prostate cancer will still get you categorized into the high risk life insurance category.
So what is an underwriter looking for from you? Let’s look at what prostate cancer is and what factors are most telling to a life insurance carrier in making a rating decision:
Each of these is quite important and help establish your medical history with the prostate cancer. Life insurance ratings are heavily dependent on your current and past history, so your overall health now is just as important as your bout with the cancer.
There are four different stages of prostate cancer.
Stage I is localized only in the prostate, has not spread across the entire prostate, and PSA levels are still fairly low (usually below 10). The gleason score is held to 6 or under, and this is the most easily treated of the four. If your prostate cancer was stage I, you would have the best chance at securing life insurance with great rates after a certain amount of time has passed.
Stage II is still localized in the prostate but has more than likely had more time to worsen. PSA levels can rise as high as 20, Gleason score can approach 7, and has potentially hit more than one lobe or half of the prostate. If your prostate cancer was stage II (A or B), you’ll still have a great chance at getting good rates for life insurance.
Stages III and IV are more difficult to insure because the cancer has now spread beyond the prostate. It’s still possible, but high fluctuations in PSA and Gleason scores, affected areas and all required treatments and preventative steps will all potentially affect your approval.
In order to get the most accurate quotes, we take all the necessary steps of using the underwriting guidelines of many companies, never just one. This is a huge advantage to you because only about 5 life insurance companies are really effective at offering prostate cancer life insurance. It’s crucial to utilize these companies for not only excellent approval chances, but the cheapest prices.
If you have prostate cancer on your personal medical history, contact us before you apply anywhere. We’ll do our best to either confirm your purchase or redirect you to a more appropriate carrier.