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Strategies for securing life insurance policy for pre-existing medical conditions

November 30, 2015

If the tumor was small, early stage and good risk, you can purchase insurance once you've completed treatment and had documented regular follow-up visits with your physician for a period of time specific to each insurance company.For later stage breast cancer, the insurance company may postpone coverage for a period of 2 to 7 years, provided treatment was successful and there has been no recurrence. Also, insurance companies may add on what is called a "flat extra" rate. Common flat extra rates for cancer can vary from $2.50 to $7.00 per $1,000 of coverage for anywhere from the first 5 to 7 years of policy premiums.

Many breast cancer survivors are offered "standard" rates, which can actually vary widely among different companies.  However, depending on the insurer, there are exceptions to this rule, which is why we recommend purchasing coverage through an insurance brokerage general agency or independent agent who can shop the market for you.

For more, see "Life, and Insurance, After Breast Cancer" lifequotes/articles/life-and-insurance-after-breast-cancer/

High blood pressure & cholesterol:

There can be many causes of high blood pressure and cholesterol. These include factors such as weight and the over consumption of fatty foods, but often genetics, age, and gender play important roles as well. Fortunately, both conditions can be controlled and you can still purchase life insurance.

For more, see "The Lowdown On High Blood Pressure and Life Insurance" lifequotes/articles/the-lowdown-on-high-blood-pressure-and-life-insurance/

HIV:

There was a time when being diagnosed with HIV was comparable to a death sentence. However, according to a February 2010 ATHENA National Observational Cohort study, with today's medical advancements and a better understanding of how the disease progresses, the life expectancy of someone with HIV can be extended by seven to 24 years. According to insurance experts, it might be best to get a life insurance policy through an employer, trade association or union. Traditional individual life insurers will not cover HIV. However, if you've lived with HIV for quite some time, you could still get approved for a life insurance policy through an "impaired-risk specialist" or purchase a "guaranteed issue" life insurance plan. Keep in mind, these policies carry with them much higher premium rates, as well as strict limits on the amount of insurance for which you may be eligible, in most cases up to $20,000.  

For more, see "How To Get Life Insurance When You're HIV Positive" at lifequotes/articles/how-to-get-life-insurance-when-you%e2%80%99re-hiv-positive/ and "Medical Tests, Risk and Life Insurance" at lifequotes/articles/medical-tests-risk-and-life-insurance/

SOURCE Life Quotes, Inc.