Speak with an experienced advisor! If you have pancreatic cancer and are looking for pancreatic cancer life insurance, we can help you. As you are no doubt aware, pancreatic cancer is a life-threatening illness. You are likely wondering if you can purchase life insurance with pancreatic cancer.
In this article, we will offer some background on pancreatic cancer, the underwriting process for life insurance for pancreatic cancer, and if you can get approved for life insurance with pancreatic cancer.
What is pancreatic cancer?
Pancreatic cancer is a disease where malignant (cancerous) cells form in an internal organ, called the pancreas. Located just behind the stomach and in front of your spine is a gland, called the pancreas.
Your pancreas produces digestive juices and hormones that are necessary to regulate blood sugar in your body.
What are the symptoms of pancreatic cancer?
Some of the symptoms of pancreatic cancer are as follows:
- Jaundice (yellowing of your skin and yellowing of the whites of your eyes)
- Unexplained weight loss
- Abdominal pain in the middle
- Pain in your back
- Loss of appetite
- Depression
- Fatigue
What are the risk factors for pancreatic cancer?
- Smoking
- Inherited health conditions (such as hereditary pancreatitis)
- Chronic pancreatitis (inflammation of your pancreas)
- Long-standing diabetes
- Pancreatic cancer syndromes (familial)
- How is pancreatic cancer treated?
Because of the serious risk of death with pancreatic cancer, the most aggressive forms of treatment are used. These may include:
- Chemotherapy
- Radiation therapy
- High-dose medicine regimens
What is the survival rate for pancreatic cancer?
The American Cancer Society has researched survival rates of people with pancreatic cancer. Their statistics show 23% of patients with pancreatic cancer (exocrine) are living one year after they were diagnosed.
Only about 4% of pancreatic cancer patients are still living five years after diagnosis.
Will I be able to get life insurance if I have pancreatic cancer?
Yes, there are life insurance options with pancreatic cancer. Because any form of cancer is a serious medical problem, the life insurance companies will review your pancreatic cancer and the rest of your health information carefully before issuing a life insurance policy.
What kind of life insurance will I be able to purchase with pancreatic cancer?
Most forms of cancer will eliminate your ability to purchase term life insurance for pancreatic cancer until a number of years have passed since your treatment and recovery. There are, however, other life insurance options available to pancreatic cancer patients.
Guaranteed Issue Whole Life (GIWL) – this insurance is available to pancreatic cancer survivors. GIWL policies have lower death benefits (face value) and a graded period (1-2 years) before you are eligible for the guaranteed death benefit. During this graded period, most life insurance companies return your premium (with 8-10% interest) if a death occurs.
If the insured were to die of an accident in the two-year graded period, the life insurance policy would pay out the full death benefit.
Guaranteed Issue Term Life (GITL) – this insurance is available to pancreatic cancer patients and survivors. GITL policies come in two face amounts – $25,000 and $50,000. Just like GIWL, there is a two-year graded period before you are eligible for the guaranteed death benefit. If the death occurred during this graded period, either a return of premium or a percentage of the face amount would be paid to the beneficiaries.
Accidental death insurance (AD) – this insurance is also available to pancreatic cancer patients and survivors. Although this coverage is available and is very affordable, AD life insurance may be a secondary choice to any other life insurance options available.
In ages 18 through 45, accidental death is the number one cause of death. So, even though you have pancreatic cancer, you also have a statistically high chance of dying in an accident driving back and forth to the hospital for treatment of your pancreatic cancer.
Depending on your tolerance for risk, a GIWL, GITL, or AD policy may be an appropriate life insurance option for you with your pancreatic cancer diagnosis.
Who should I purchase my life insurance from?
Pancreatic cancer is a unique health condition that requires a life insurance agent to be knowledgeable in underwriting procedures and practices. Most life insurance agents have not written life insurance policies for pancreatic cancer patients and survivors.
You will want an agent who has worked with pancreatic cancer life insurance candidates, who has researched insurance company eligibility, and who has spoken with underwriters about this medical condition in the past.
At Life-Wealth-Win, we are uniquely qualified to help you purchase life insurance if you have pancreatic cancer.
What are my first steps to purchase life insurance if I have pancreatic cancer?
Your first step would be to call us so we can understand your entire medical history. We must know your age, height, weight, medical problems, prescriptions, and other items asked on your life insurance application.
After gathering all your information, we will approach insurance company underwriters with your information to see who will offer you the most life insurance coverage at the best rates.
When should I purchase life insurance with pancreatic cancer?
The earlier you purchase life insurance, the better.
As you grow older, you risk more medical complications, which will make your life insurance premiums increase or make you ineligible for life insurance in the future.
With pancreatic cancer, the sooner you get life insurance coverage, the better. Purchase as much as you can afford for the longest length of time you can afford it.
Conclusion
If you have been diagnosed with pancreatic cancer, call us to help you understand your life insurance options.
At Life Wealth Win, we specialize in healthy to high-risk life insurance cases. We can help you understand your life insurance options with pancreatic cancer.
We work with clients across the nation to get the best life insurance rates possible. If you have pancreatic cancer, we can help you get the best life insurance rates.
