Just recently, my college buddy was diagnosed of prostate cancer. I was so shocked after hearing it because he was at the peak of his health. What’s more devastating is that his treatment has been delayed because of financial setbacks. Can he still apply for cancer life insurance policy?
Drake
San Antonio Texas
I’m sorry to hear about your friend, Drake .But we all know that cancer can strike any time to anyone regardless of their lifestyle. That’s why the cancer life insurance policy was created as a response to the increasing rate of cancer diagnoses worldwide and is designed to help reduce the cost of cancer care. But when applying for cancer life insurance policy, it’s very important to be completely honest and give specific details. The insurance company will ask your friend’s consent and investigate on his medical reports because the diagnosis will affect the policy. The cancer life insurance policy has an added surcharge depending on the type of cancer and the stage classification. It is also based on how many years of treatment the patient will undergo and the prognosis. There’s an extra charge upon the completion of the treatment process but those extra charges will be withdrawn as the patient recovers.
However, the premium rates for the cancer life insurance policy will increase depending on the person’s age. This may be higher compared to other life insurance premiums. The coverage differs based on the provider and cancer life insurance policy details. Nonetheless, most plans will cover both medical costs and non-medical expenses. Before applying, it is important to check on the choice of coverage, the premium flexibility, know the benefits paid directly and make sure there is no reduction in benefits. Your friend and his family can shop and compare the plans from different providers to make sure they will have the cancer life insurance policy that corresponds to his needs.