Prostate cancer is the number two most common cancer in American men, behind skin cancer. It is estimated that one in seven men will be affected by this disease at some point in their life. The Prostate Cancer Foundation estimates that 3 million men in the U.S. have prostate cancer, over 27,000 will die from the disease this year, and the risk is highest among men who have one or two first degree relatives (father, brother, son) who have had the disease. A diagnosis of prostate cancer can be scary.
So I get the question a lot. I have had prostate cancer, can I get life insurance? Yes you can! Use the quoter on this page to get your instant quote.
Also according to the Prostate Cancer Foundation, the prognosis for men with prostate cancer has improved steadily for decades. Because approximately 90% of all prostate cancers are detected in the local and regional stages, the cure rate for prostate cancer is very high—nearly 100% of men diagnosed at this stage will be disease-free after five years. By contrast, in the 1970s, only 67% of men diagnosed with local or regional prostate cancer were disease-free after five years.
I Have Had Prostate Cancer, Can I Get Life Insurance?
If you have prostate cancer, securing the life insurance you need to protect your family may be more challenging, but it is not an impossible task. The underwriting processes insurance companies employ to evaluate the individual circumstances of their clients reflect improvements in the survivability rates of diseases like prostate cancer.
Clients are placed in risk categories according to the results of the underwriting process. The names and number of these categories vary between insurance providers but are typically along the lines of ‘preferred’, ‘standard’ and ‘substandard’.
Clients with more common, treatable forms of prostate and other cancers can often receive a ‘standard’ or ‘preferred’ rating. When confronted with a serious health dilemma like a prostate cancer diagnosis many people instantly think of their loved ones and their future.
When considering a client with prostate cancer (or who has survived prostate cancer) and deciding on that client’s risk classification, insurance companies will be concerned with a number of questions.
At What Age Were You First Diagnosed With Prostate Cancer?
Prostate cancer is relatively rare for younger men but more common in older men. Life insurance companies are therefore more concerned when a man is diagnosed at a younger age than if he is older. If you were diagnosed at 40 and have been treated recently, you may have to wait to be approved. If you are diagnosed at age 60 with a low grade prostate cancer and have been successfully treated, you may get coverage immediately after your treatment.
How Has Your Prostate Cancer Been Treated?
When evaluating any health problem, insurance companies will pay very close attention to how you have managed and treated your illness. Clients who have taken steps personally and medically to take care of their condition are much more likely to fall into a standard or preferred category of insurability. There are many treatments for prostate cancer including surgery, chemotherapy, hormone therapy and radiation therapy. Life insurance underwriters generally favor surgical removal, as this indicates early detection before the cancer has spread and other treatments such as chemotherapy were necessary. If these other treatments are used, clients are sometimes delayed for 2-3 years to ensure the success of the treatment.
What Is Your Gleason Score?
Gleason scores range from 2 to 10 and measure the likelihood that your prostate cancer will spread. Higher Gleason scores indicate more aggressive cancer and generally lead to a poor risk classification.
What Stage Is (or was) Your Prostate Cancer?
The stage of your cancer measures how much the cancer has spread. Cancer that is centralized and more easily treated results in a favorable risk classification.
What was your PSA (Prostate-specific antigen) assessment when you were diagnosed and what is your most recent PSA assessment?
PSA is a substance produced by your prostate and elevated levels indicate an increased chance that prostate cancer is present.
Do you have any other major health problems?
Do You Have High Cholesterol Or Hypertension? Are You Overweight?
Comparing premiums from a variety of insurance carriers is especially important if health complications exist. Each insurance company has their own underwriting guidelines and rates can vary significantly. Ogletree Financial Services represents many reputable insurance companies.
This means we can access a variety of insurance products to secure the best rates for each clients’ personal circumstances and life insurance needs. Many people are surprised at the affordability of quality life insurance coverage.
Taking your Next Steps
Being diagnosed with prostate cancer can turn your life upside down. It changes just about every part of your life, including your life insurance needs.
You’re a busy person, why spend your time going through each and every carrier to determine which one is cheapest? We’ve worked with prostate cancer survivors in the past. We’ve done this before, and we can do it again.
Give us a call at 1-800-712-8519 or use the term quoter on this page to get your free quote.