Cancer Patients And Their Burial Insurance

Cancer Patients And Their Burial Insurance

Almost anything can be insured, and while health insurance isn’t always easy to get if you are suffering from health problems, burial insurance is something that almost anyone can find and purchase with relative ease, even if they have health problems at the time. 

This is even true of cancer patients, though there will obviously be some requirements or restrictions that have to be considered. However, these whole life policies can range from $5,000 up to as much as $25,000, primarily to cover costs of a funeral and related services. 

Cancer In This Country And Globally

Every year nearly 2 million people are impacted by cancer – more than 900,000 men and more than 800,000 women annually. And 46% of all Americans will suffer from cancer in their lifetime. However, more than 14.7 million cancer patients live beyond doctor expectations, and that number is expected to grow as medical science advances.

As such, insurance companies are now ready to insure cancer patients who are in near remission or total remission – and in many instances there are more life insurance policy options for cancer patients than you might realize. 

Insurance Options For Cancer Patients

Cancer patients very realistically face a higher risk of premature death. As such, insurance companies often make it somewhat harder to secure a policy and sometimes more complicated to get a policy comparable to others. Some things that may impact a patient’s ability to get coverage include:

  • Date of initial diagnosis

  • Type of treatments being received

  • Whether or not tumors were present

  • Stage that cancer is in? 

  • Type of cancer that was diagnosed

  • If treatments are finished or not

  • If cancer has relapsed out of remission before 

Still, no matter the answers to these questions it is possible that patients will find some kind of insurance policy that can help give them and their loved ones peace of mind. 

Can Cancer Patients Even Get A Policy?

The short answer is ‘it depends’. If you’re currently undergoing treatment or have been recently diagnosed, it’s not always easy to get a policy at all and only a few companies are willing to offer life insurance.

But, burial insurance can help. This is largely because it only covers final expenses like cremation, flowers, embalming, headstones, caskets, and so on. 

What Is the Payout For A Burial Insurance Policy?

Generally speaking, payouts are based on health, age, and gender. Death benefits can reach as high as $50,000, but will come with higher monthly payments and other factors. If the insured party is suffering from cancer or even another type of terminal disease, it’s very difficult to receive any kind of larger payout amount - $10,000 is often a more realistic possibility in these cases.

Still, it’s worth looking for a good policy when you consider the high costs of burials today. Having a policy can protect the loved ones of a cancer patient and give patients and their loved one’s peace of mind. Contact our team today to talk more about a policy that can help you, even if a cancer diagnosis is present. 

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