Final Expense Insurance For Cancer Patients

Burial Insurance Options With A History Of Cancer

There are two main types of final expense insurance for seniors.

One type has health questions where your eligibility depends on your prior health conditions. The other type has no health questions because your acceptance is guaranteed.

Plans with health questions, if approved, can offer no waiting or a partial waiting period. However, plans without a health questionnaire always have a two-year waiting period.

Death during the waiting period will result in a refund of your premiums plus about 10% interest.

Everyone can obtain a guaranteed acceptance policy because your health is not a factor. However, if you want a policy without a waiting period, which plans you can qualify for depends on the following factors:

• Type
• Staging
• Date of last treatment
• When you were declared cancer-free (if so)
• If there is a history of a recurrence of a previous cancer
• If there is a history of having more than one type of cancer
• If there is a history of cancer spreading to another part of the body (metastatic)
• Any ongoing medications specifically for cancer (Example: tamoxifen or letrozole)

Basal or squamous cell skin cancer

People who had or have basal or squamous cell skin cancer will not have issues getting coverage.

Every final expense insurance application will expressly exclude basal or squamous cell skin cancer when cancer is mentioned.

For example, Mutual of Omaha’s burial insurance application reads as follows:

“In the past 4 years, has the Proposed Insured: (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for: Cancer, Leukemia, Melanoma, or any other internal cancer (except basal or squamous cell skin cancer)?”

The rest of this article’s dialogue excludes these two types of cancer because they are irrelevant.

You currently have cancer

If you currently have cancer, you might still be eligible for a no-waiting period policy if it’s stage one or less.

Assuming there has not been a previous instance of cancer or metastatic cancer, the following cancers are eligible for immediate coverage if it’s stage 0-1:

• Breast
• Cervical
• Colon
• Endometrial
• Kidney or Ureter
• Melanoma
• Prostate
• Testicular
• Thyroid

Unfortunately, if you have any type of cancer (except basal or squamous cell) that is stage II or greater, you can get a new policy, but there will be a two-year waiting period.

You are cancer-free now

First, if you no longer have cancer, the compelling date you need to pinpoint is when you last had cancer or received treatment.

Whichever date is most recent is the date that determines your options.

That’s because the application questions will always say something to the effect of:

“Within the last two years (the time varies by company), have you had or been treated for cancer?”

Once you are cancer-free and no longer receiving treatment, you can qualify for coverage with no waiting period with one particular company (call us at 1-800-644-2926). That’s true even if you had cancer last week.

Beyond that, after it has been more than 24 months, multiple companies offer no waiting period coverage and their lowest price.

You’ve had metastatic cancer

Metastatic cancer is any cancer that has spread to another part of the body. Unfortunately, the long-term outlook for those who’ve had metastatic cancer is not good.

For that reason, nearly every life insurance company will outright decline anyone who has ever had this condition.

However, some final expense life insurance companies will entertain a policy with no waiting period, even with a history of metastatic cancer.

If it’s been at least 24 months since you’ve had or received treatment for metastatic cancer, then some companies might issue you an immediate benefit policy.

You’ve had cancer more than once in your lifetime

Very similar to metastatic cancer, if you’ve ever had cancer more than once in your lifetime (excluding basal or squamous cell), nearly every life insurance provider will flat-out decline you.

However, some providers (only a few) will offer you coverage without a waiting period, assuming it’s been at least 24 months since you last had or received treatment.

Best Burial Insurance Companies For People With Cancer

Ultimately, you should speak with a licensed agent who can diagnose which company is best for you. Only agents can determine which company(s) will approve you based on the full scope of your medical history.

That said, below are three of the best final expense insurance companies to consider if you have a history of cancer. Which one is best for you depends on the factors mentioned earlier in this article.

• Mutual of Omaha: Mutual of Omaha’s Living Promise final expense policy is excellent for people who’ve had cancer more than once in their lifetime (cannot be the same kind). Granted, you must be free of cancer (and treatment) for at least four years to be eligible. Also, they are the best at insuring people who have to take preventative drugs like Tamoxifen (for breast cancer survivors) or Casodex (for prostate cancer survivors). Mutual of Omaha will not respond adversely to those medications. Conversely, most funeral insurance companies consider those drugs as cancer treatment and thus respond with a decline or a modified plan with a two-year waiting period.

• Aetna: Under the Aetna Senior Products umbrella are two different final expense policies that offer unique value to cancer patients. One of them only asks about cancer within the prior 24 months. The other one does not ask about metastatic cancer or if you’ve had cancer more than once in your lifetime.
• Citizens Life: Citizens Life is incredibly unique because their application only asks if you have or are being treated for cancer. That means if you were declared cancer-free yesterday, you’d be eligible for their immediate coverage plan. No other company offers this value. Keep in mind that they will not accept someone who has had cancer more than once in their lifetime or had metastatic cancer.

To inquire about any of those companies, call 1-800-644-2926 or use our quote calculator to see price estimates.

How Much Does Final Expense Insurance Cost For Cancer Patients?

Below are some sample burial insurance quotes for plans with no waiting period and for policies that are guaranteed acceptance (have a two-year wait).

Also, remember that the cost of burial insurance is based on your exact age, state of residence, gender, all prior health issues, tobacco habits (if any), and how much coverage you want.

Frequently Asked Questions