Am I able to take out life insurance after experiencing prostate cancer?
Depending on your individual circumstances, it is possible to get cover after recovering from prostate cancer. Each case is different and the insurance provider will assess each application individually to get an understanding of what cover could be offered to the person applying.
Prior to this application, Lifebroker can help complete a pre-assessment. Pre-assessments for people who have previously experienced cancer do require an extensive amount of information and you may be asked to send through a copy of the histopathology report to get a better understand your cover options with one of our life insurance partners.
When applying for life insurance with a history of cancer, there are a few possible outcomes depending on your situation:
- A loading may be applied to your policy and, if chemotherapy or radiotherapy was required during your treatment, this is likely be a percentage increase to your premium for the life of the policy.
- Another type of loading that can be applied to your premium is a loading per thousand dollars insured. This would be due to how recently the cancer was experienced and would be applied for a set number of years, and then automatically removed.
- In some circumstances, a combination of a percentage loading and a loading for every thousand dollars insured may be applied to the policy.
- In some cases acceptance at standard rates can occur; where no loadings or exclusions are applied to your policy.
- There is the possibility that your application may be declined, however our insurance consultants can help you understand the potential of a decline prior to your application with a pre-assessment. Although a pre-assessment is not a guarantee of the outcome you can expect, it can provide you with a better understanding of your options with our life insurance providers.
To learn more about your options from our life insurance partners, please contact a Lifebroker insurance consultant today on 13 54 33.