Whenever we get a call from a client who is looking for a life insurance quote, after being diagnosed with benign prostatic hyperplasia (an enlarged prostate), the first thing we want to let them know is that they should be eligible for a traditional term or whole life insurance policy and maybe even qualify for a simplified issue life insurance policy (a policy which won’t require a medical exam).
We just need to make sure..
That the client doesn’t also have any signs or symptoms that could indicate that they may also be at risk for developing or having prostate cancer.
Benign Prostatic Hypertrophy (BPH).
Benign prostatic hypertrophy, also known as benign prostatic hyperplasia, is generally considered a normal condition that occurs as men age. BPH is not cancer and while it can become a nuisance, in general, BPH will not cause any serious problems.
In fact, just about 50% of all men 75 years and older will display some symptoms of having BPH, none of which will be considered “life threatening”.
This is also why most life insurance companies will consider those suffering from BPH eligible for a Preferred or Preferred Plus rate as long as their PSA levels are within acceptable levels. Aside from a digital rectal exam (DRE), PSA
PSA levels refers to a test that is designed to measure the amount of prostate-specific antigen (PSA) that is in your blood stream. The PSA antigen is produced by both cancerous and noncancerous tissue alike within the prostate, and when this level is elevated, it is presumed that an individual may have prostate cancer. Aside from a digital rectal exam (DRE), PSA tests are one of the most common ways of determining if someone has prostate cancer.
Insurance underwriting and PSA levels.
When it comes to underwriting your life insurance application after you been diagnosed with an enlarged prostate or benign prostatic hyperplasia, knowing exactly what your PSA level is will go a long way in being able to provide you with an accurate life insurance quote. This is because you PSA level will be one of the most defining factors in determining what “health class” you may or may not be eligible for.
For example, if your PSA is a 4 or lower, they you should theoretically be eligible for a Preferred or Preferred Plus health class regardless of your age.
Now if you are an older individual, you may still be eligible for a Preferred or Preferred Plus rate, even if you PSA is as high as 5.5, provided that you are over the age of 60.
Similarly, a 70 year old man with a PSA under 7 can also qualify for the best rate class. Once again, assuming no other health issues.
Now as you can see, knowing what ones’ PSA score is and when they last had it taken will be key in determining what price you may need to pay for your insurance.
Benign Prostatic Hypertrophy and the threat of Prostate cancer.
Any time you start talking about having an enlarged prostate, life insurance companies are going to want to rule out any possibility that this “enlargement” could be due to prostate cancer and not simply due to the normal ageing process.
Cancer is the 2nd leading cause of death amongst males in the United States and prostate cancer, when not diagnosed early, can be a particularly deadly.
This is why you’ll find that insurance companies are going to be particularly interested in “ruling” out prostate cancer as a cause of your enlarged prostate prior to approving your life insurance application.
Prostate Cancer and Life Insurance.
If you’ve been diagnosed with prostate cancer, or you PSA levels indicate that you may have prostate cancer now, what you’re generally going to find is that life insurance companies are going to want to ask you a series of questions designed to determine how serious your prostate cancer is or was.
That being said however…
If you’re currently treating your prostate cancer, we’re going to want to either postpone applying for a term or whole life insurance policy until treatment has been completed and you become eligible for coverage, or pursue a guaranteed issue life insurance policy which will not require you to take a medical exam or answer any health-related questions. We put together our best final expense and burial insurance companies list that details the top 20 carriers we most often recommend.
The only problem is…
Depending on the “severity” of your prostate cancer, it could be years (3-5) before you’ll be eligible for a traditional term or whole life insurance policy.
And guaranteed issue life insurance policies don’t provide a ton of coverage (typically $25,000 or less) and contain what is called a graded death benefit clause which will limit when your life insurance policy will actually begin to provide coverage for “natural” causes of death.
Don’t Be. The main thing that you need to understand is that if you been diagnosed with benign prostatic hyperplasia or have an enlarged prostate, chances are you’ve got nothing to worry about when it’s time to apply for a traditional term or whole life insurance policy.
But… if you been diagnosed with prostate cancer…
It shouldn’t come as a HUGE surprise that your diagnosis may complicate matters, but so what!
That’s what we’re here for.
You see, because Termlife2Go operates as an independent life insurance brokerage that is able to work with dozens of different life insurance companies, we don’t simply have to rely on one or two different companies when it comes to trying to find you the best life insurance policy that you can qualify for.
We’ve go dozens to choose from!
So, what are you waiting for? Give us a call today and see what we can do for you!