In this article, we wanted to take a moment to answer some of the most common questions we get from folks applying for life insurance after being diagnosed with Pancreatic Cancer.

Questions that will be addressed will include:

• Can I qualify for life insurance if I have been diagnosed with Pancreatic Cancer?
• Why do life insurance companies care if I’ve been diagnosed with Pancreatic Cancer?
• What kind of information will the insurance companies ask me or be interested in?
• What rate (or price) can I qualify for?
• How can I help ensure I get the “best life insurance” for me?

So, without further ado, let’s dive right in!

Can I qualify for life insurance if I have been diagnosed with Pancreatic Cancer?

Yes, some individuals who have been diagnosed with Pancreatic Cancer will be able to qualify for a traditional term or whole-life insurance policy. The only problem is that because of the “silent nature” of this disease, most folks won’t discover that they have Pancreatic Cancer until it has entered into its later “Stages,” which will inevitably make it more challenging to qualify for a traditional life insurance policy.

Why do life insurance companies care if I’ve been diagnosed with Pancreatic Cancer?

Any time an applicant has been diagnosed with a pre-existing medical condition, it’s pretty safe to say that most life insurance companies will want to learn more about that condition before making any decisions about your application. Now, when the pre-existing medical condition in question is as severe as pancreatic cancer, well, you can bet that it will pique an insurance underwriter’s interest. After all, Liver Cancer does account for just over 47,000 deaths every year.  

And while…

Many other cancer forms seem to benefit from advancements in both detection and treatment. Unfortunately, this isn’t always the case when it comes to those diagnosed with Pancreatic Cancer simply because of the silent nature of this disease. You see, patients who have Pancreatic Cancer are often at a distinct disadvantage in their treatment because, in most cases, people don’t realize they have it until it has spread to other parts of the body or begins to cause a patient pain.

This is why…

Most life insurance companies are going to be very nervous about insuring anyone who has been previously diagnosed with Pancreatic Cancer because even in the most successful cases, individuals will often fall out of remission and discover that their cancer has either returned to their pancreas or some other part of the body.  

This is also why most life insurance companies will want to ask you a series of questions about your disease before considering your application for approval.

What kind of information will the insurance companies ask me or be interested in?

Typical questions you’ll likely be asked may include:

• When were you first diagnosed with Pancreatic Cancer?
• How was your Pancreatic Cancer diagnosed?
• What led to your diagnosis? Did you start experiencing unusual symptoms?
• What stage was your Pancreatic Cancer diagnosed at?
  • Stage 0: Pancreatic Cancer is limited to the top layers of cells along the ducts of the pancreas itself. The cancer is not visible at this stage using any exterior imaging techniques or even the naked eye.
  • Stage 1: Cancer growth will be fully contained within the pancreas, not exceeding 4 cm. 
  • Stage 2: Stage 2 marks the first stage where one’s Pancreatic Cancer has spread to other local areas within the body and may have entered into nearby lymph nodes.
  • Stage 3: This is marked by increased regional spread, usually within nearby blood vessels and/or nerves.
  • Stage 4: Is marked by confirmed metastatic growth throughout the region, including distant parts of the body.
• What treatment options did you and your doctor pursue?
  • Surgery?
  • Radiation?
  • Chemotherapy?
  • Etc…
• Are you still treating your cancer? If not, when was your last date of treatment?
• Have you been diagnosed with any other pre-existing medical conditions?
• Are you currently taking any prescription medication?
• Are you currently working now?
• In the past 12 months, have you applied for any disability benefits?

What rate (or price) can I qualify for?

As you can see, many factors can come into play when determining what “kind” of life insurance policy people diagnosed with Pancreatic Cancer might qualify for. This is why it’s almost impossible to know for sure what kind of rate someone has previously been diagnosed with Pancreatic Cancer without first speaking with them directly.

That said, however, there are some “assumptions” that we can make that may hopefully provide you with a “general” idea about what you can expect if you are applying for life insurance after having been diagnosed with Pancreatic Cancer.

For example…

Suppose you are currently treating your Pancreatic Cancer or have recently gone into remission (less than two years). In that case, it’s safe to assume that you cannot qualify for a traditional term or whole life insurance policy at this time. Clients in this situation may want to pursue an “alternative product,” such as an Accidental Death Policy or a Final Expense Insurance Policy until they become “eligible” for coverage.

As for those…

Who has been declared “cancer-free” for a minimum of two years? While we like to say that this means that you will AUTOMATICALLY be considered eligible for coverage, the sad truth is that many life insurance companies will still not be willing to insure some applicants who have survived Stage 3 and 4 Pancreatic Cancer due to the high recurrence rates that these “types” of cancers experience (up to 60%).

And for individuals…

We were fortunate enough to discover their cancer earlier (think Stage 0-2) and may, however, be able to qualify for a traditional life insurance policy and may even be able to qualify for a Standard rate; however, as we mentioned before, due to the “silent” nature of this disease, we find that only a very small minority of applicants find themselves in this situation.

The good news is we here at IBUSA have plenty of experience helping folks like yourself find the coverage that you’re looking for, which brings us to the next topic that we wanted to take a moment and discuss with you…

How can I help ensure I get the “best life insurance” for me?

In our experiences here at IBUSA, we’ve found that usually, the “best” approach in helping someone find the “best” life insurance policy for them is to first:

• Fully understand what an individual is trying to achieve by purchasing their life insurance policy.
  • Are you looking to:
    • Cover the cost of a mortgage?
    • Replace lost wages?
    • Protect a child or spouse?
    • Or cover one’s final expenses?
• Then, provide plenty of options so that one is not limited to one or two different options.

This is why…

We at IBUSA choose to work with so many different life insurance companies that when it comes time to help you decide “which” company will be the best for you, we don’t have to apply a…

“One Size Fits All”

Approach. Instead, we can make dozens of different life insurance companies compete for your business.

So, what are you waiting for? Give us a call today and experience the IBUSA difference.