eFinancial: How to Compare Life Insurance Plans for Cancer Patients

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:
For cancer patients, insurers will likely be interested in:
It can be best to give the life insurance company as much information as possible to make an informed decision.
Types of life insurance plans for cancer patients
The following two types of life insurance are often available to those with a cancer diagnosis:
How to compare life insurance plans
When reviewing multiple life insurance plans, cancer patients should consider:
The bottom line
Certain kinds of life insurance plans may be an option for cancer patients. When considering a guaranteed issue or group life insurance plan, it’s important to find a reputable lender and choose a policy based on how much coverage the policyholder needs. And while premiums for cancer patients may be higher, it could be worth it for those who want to leave financial support for loved ones.
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Source: eFinancial