Ask an Underwriter: Are Breast Cancer Survivors Able To Get Life Insurance?


Ask an Underwriter: Are Breast Cancer Survivors Able To Get Life Insurance?

With an estimated 2.8 million women with a history of breast cancer in the United States and 246,660 new cases of invasive breast cancer to be diagnosed in 2016 alone, there is a very high probability you will be faced with protecting a breast cancer survivor in the future if you haven’t already.  

 

As a result of increased preventative screening – including regularly performed breast self-exams, routine mammograms, discovery of genetic predisposition testing and advancement in treatments – early detection is naturally higher. For that reason, many life insurance carriers have improved underwriting guidelines, leading to decreased postponement periods and more favorable ratings for clients with a history of breast cancer.

 

Underwriting Breast Cancer 

The key to successfully insuring your breast cancer survivor is understanding what information is important to enable your underwriting team to find the very best solution. 

  • Stage of the breast cancer
  • Date the cancer was diagnosed
  • Type(s) of treatment
  • Date of last treatment  

 

Additional questions that may help in your assessment: 

  • What was specific type of breast cancer? (Ductal Carcinoma In Situ/DCIS or Lobular Carcinoma In Situ/LCIS)
  • Any lymph node involvement?
  • Any metastasis (spreading of the cancer to other areas in the body)?   
  • Any relapses?
  • Any medications currently being taken? 
  • Family history of breast cancer? If so, any genetic testing? 

 

Additionally, one of the most important pieces of information will be whether or not the client is in full remission/cancer-free and when (month/year). The longer they have been cancer free, with regular follow-up and testing, the more favorable their offer may be.   

 

Postponement Period

For life insurance carriers to give consideration of someone who has a history of breast cancer, they must fully complete treatment (surgery, radiation, chemo) and often undergo a specific waiting period referred to as a postponement period (which varies based on stage of breast cancer). If they are past the initial waiting period, and they are taking hormonal therapy, such as Tamoxifen, Arimidex, etc., as part of their treatment plan, there would not be an additional postponement/waiting period for consideration. Everything will still depend on the stage of the breast cancer, type of treatment, and date of last treatment.   

 

Let Ash Brokerage assist you with your next breast cancer case – to simplify your fact-finding process, use our Breast Cancer Client Questionnaire and reach out to us for help. We leverage our experience, carrier relationships and resources to identify viable solutions based on your client’s individual circumstances and insurance needs.  

 

Dedication

On March 11, 2016, Kristina Alderdice lost her 10-year battle with breast cancer and we lost a sister of our Ash Brokerage Family. Kristina’s legacy lives on in all of our cherished memories and through her mission at Hope in a Handbag . The organization supports mastectomy patients with a necessities bag, which gives supplies and information to aid in their recovery, and also provides a resource for surgeons and nurses to improve communication with patients about the challenges of major surgery. To date, Hope in a Handbag has distributed more than 2,000 bags to women in northeast Indiana.

 

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About the Author

Julie’s unwavering passion and dedication for risk advocacy promotes lasting partnerships while driving impactful results for all stakeholders, from our agents to our carriers. She leverages her 20 years of industry experience with her relational approach to ensure you experience the Ash difference.