Breast Cancer Awareness—Life Insurance Style!

Have you noticed the pink ribbon everywhere this month? Or the pink attire that athletes around the nation are wearing?

It’s all in support of breast cancer awareness. I believe it’s a great time to also spread awareness about the advances in life insurance underwriting for breast cancer survivors.

With October being National Breast Cancer Awareness Month, let’s spread awareness to the fact that breast cancer survivors are seeing very affordable life insurance offers from many life insurance companies on the market.

It wasn’t long ago when those who beat breast cancer had to wait 10 years from their last treatment to even be considered for life insurance coverage. Life insurance underwriters have finally started loosening up their underwriting stances toward breast cancer because of advances in treatment, increased awareness and self exams.

And it’s about time.

Unfortunately, these advancements in breast cancer underwriting are only known to the life insurance industry and not to the general public. There’s a huge misconception by breast cancer survivors out there that life insurance coverage isn’t an option and it couldn’t be further than the truth. Agents around the nation are securing affordable life insurance for their clients with a breast cancer history.

If you’re a breast cancer survivor, the first thing you’ll need to do is collect the following information and present it to your life insurance agent:

1. What was the specific type of breast cancer?
2. What was the stage and grade of the cancer? (MOST IMPORTANT – this should come from your post pathology report)
3. When were you diagnosed? And when did your treatment end?
4. How was it treated? (lumpectomy, mastectomy, chemo, radiation, etc.)
5. Any metastasis or lymph node involvement? If so, provide details.
6. What was the size of the tumor?

If any of the information above is missing, an agent can’t accurately “shop your case,” meaning find a company that would be a fit for you. Furthermore, having a copy of your pathology report will help tremendously in prequalifying your risk. After providing this information to your agent, let them take it from there.

Every life insurance company will look at your specific breast cancer history differently and some more favorably than others. It’s your life insurance agent who will use their expertise and resources to find the most affordable coverage. Put your life insurance agent to work for you.

Securing life insurance for breast cancer survivors happens daily in our industry and spreading awareness to the current 2.9 MILLION+ breast cancer survivors will help protect more families who need this coverage.

If you’re a breast cancer survivor and are in the market for life insurance, contact your life insurance agent. Affordable life insurance rates are in your future.

  1. “Preferred” life insurance rates for breast cancer survivors are still rare. (Here’s more on life insurance classifications and how life insurance rates are determined .) But treatment advances and earlier detection could make “preferred” rates for breast cancer survivors more common, Davidson says.

  2. She was discouraged until we explained that because her other agent worked for only one insurance company, he lacked the ability to shop around with a variety of life insurance carriers to find a company that was more lenient on offering life insurance policies to breast cancer survivors. We explained that all life insurance companies treated breast cancer differently – some were more strict and some were more open to offering coverage.

  3. Consumers who are interested in buying more complicated products would do well to find a forum where they could get some of their doubts clarified for free. I know it may not be in the best interest of agents who are employed to do just that, but it’s a good way to increase sales of what seems to be a better option than regular term life insurance (at least for individuals and families that can afford it). It’s a good way to get instant life insurance since it cuts through the whole agent process.

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