Reader question:

Can I buy life insurance coverage with cancer?

Jackie

Great question, Jackie.

While most life insurance companies will offer policies to people who are in remission, very few companeis dare to cater to people looking for life insurance coverage with cancer. The risk is simply too high, and since life insurance companies generally rate their policies based on things such as life expectancy, it’s very hard to do so when the life expectancy of the person buying the policy is so short.

This, however, doesn’t mean it is impossible, although it may seem that way most of the time. If you have any chance of getting life insurance coverage with cancer at all, then you should look for guaranteed issue and no exam term life insurance policies. You may be able to contact your state department of insurance for some guidance. Know, though, that if you do end up finding a company which will offer you a life insurance policy, then your rates will be extremely high. It may be best to invest your money elsewhere, although you should make this decision based on the quotes you are able to get.

take care,

Fashun