My father was diagnosed for kidney cancer about 4 years ago. He was treated for it and it no longer remains in his system because the infected kidney was completely removed.
Every company he has applied to for life insurance has turned him down because of this. Does anyone know of any life insurance companies out there that will accept him? I’m not sure if it matters but he will be 69 in November of this year.
Globe Life Insurance and Mutual of Omaha are two life insurance companies that offer a “guaranteed issue” low payout life insurance policy for people age 76 and under.
You have to pay into it for at least two full years before dying, before they’ll pay a full death benefit. This is called a graded benefit life insurance plan. Also, there’s usually no medical exam required, just a few health questions.
It’s probably the most expensive way to buy the smallest amount of life insurance coverage, but he can buy some.
Keep in mind, if he does the math, he’ll find out that if he lives more than 6 more years or so, he’ll end up paying in more for the life insurance, than they’ll pay out in death benefit. So, saving the same amount of money you would pay in premiums for the life insurance may be another option to consider.
Here’s how to learn more about cancer survivor life insurance and what plans may be available.
NEW! Here’s How to Buy up to 0,000 of Term Life
Insurance without any Medical Exam,
Just a Few Health Questions.
Disclosure: Compensated Affiliate
