What Types of Life Insurance Are Available for Cancer Patients?
There are several types of life insurance policies that may be available to cancer patients or survivors, including:
Term Life Insurance: Provides coverage for a specific period, usually 10, 20, or 30 years. It may be more affordable but harder to obtain with a cancer history. Whole Life Insurance: Offers lifelong coverage with a cash value component. Premiums are typically higher, and acceptance can be more stringent. Guaranteed Issue Life Insurance: No medical exam is required, making it easier for cancer patients to qualify. However, premiums are higher, and coverage limits are usually lower. Simplified Issue Life Insurance: Requires a health questionnaire but no medical exam. It can be a middle ground for those with a cancer history.
