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Colon Cancer Life Insurance – How to Find Affordable Rates
We cover the following:
- Colon Cancer Overview
- Colon Cancer Life Insurance Underwriting
- Life Insurance Cost by Colon Cancer Stage
Colon Cancer Overview
Colon cancer affects the large intestine, while rectal cancer is a cancer of the last few inches of the colon.
Together, these are referred to as colorectal cancer.
For underwriting purposes, rectal and colon cancer receive similar underwriting treatment.
Colon cancer is classified according to a cancer staging system using either the Duke’s Colon Cancer Staging or the TNM cancer staging system.
Duke’s is a historical staging system that has been widely replaced by the TNM staging system.
The TNM cancer staging system uses numbers and letters to indicate the extent of your colon cancer:
- “T” stands for the size and stage of the cancer tumor.
- “N” Indicates the number of lymph nodes involved.
- “M” indicates if the cancer has spread (metastasized) to other parts of the body.
A comparison of TNM Staging to Duke’s:
In addition to the TNM classification of the colon cancer, the pathology report will indicate if the colon cancer was a:
- Adenocarcinoma – this is the most common type
- Carcinoid tumor
- Stromal tumor
Colon Cancer Grade – Your pathology report will also indicate the grade of the colon cancer.
Colon cancers are divided into 3 grades:
- Well Differentiated or Low Grade
- Moderately Differentiated or Intermediate Grade
- Poorly Differentiated or High Grade
The higher the grade, the more quickly the cancer tends to grow.
Sometimes there will be multiple grades indicated on the pathology report. Underwriting is based on the highest grade indicated.
Your pathology report will provide us with the detail needed in order to shop for life insurance for you.
Colon Cancer Life Insurance Underwriting
Life insurers that specialize in colon cancer look for the following:
- When were you diagnosed with colon cancer?
- What stage was the colon cancer?
- What grade was the colon cancer?
- Were any lymph nodes involved? If yes, how many and where were they located?
- Did the cancer spread to any other organs? If yes, where did it spread to?
- What type of treatment did you receive? Surgery, chemotherapy, radiation?
- What were the dates of treatment? Surgery, start and finish dates for chemo and radiation?
- Has there been any recurrence?
- Have you completed all follow-ups with your physician?
- When was your last colonoscopy and what were the results?
- What was your CEA level, if known?
The best insurers for life insurance after cancer will depend on your history and current health.
In general, insureds who were diagnosed at age 65 or older will receive more favorable underwriting than those younger than age 65.
Life Insurance Cost by Colon Cancer Stage
Life insurance underwriting for colon cancer survivors continues to improve, with a number of carriers now offering affordable life insurance.
Ratings tend to be more favorable for those who were diagnosed at age 65 or older.
Some general life insurance costs for your review:
Many colon polyps are not cancerous, but there are certain types such as adenomas that may turn into colorectal cancer.
If the polyp has been removed and pathology shows that it’s benign, there is no additional rating added to your life insurance.
If the polyp is cancerous, underwriting will be based on the following colon cancer rules.
Stage 0 – Cancer in Situ
Abnormal cells are found in the innermost lining or mucosa layer of your colon.
These abnormal cells may become cancerous.
It is now possible to get life insurance at a “standard” rate within 12 months of completing treatment.
The same ratings apply whether you were diagnosed before or after age 65.
Stage 1 Colon Cancer
Stage 1 colon cancer has spread beyond the innermost layer of your colon to the middle layers of the colon wall, but no lymph nodes are involved.
Life insurers will postpone offering life insurance for 12-24 months.
When life insurance is available, carriers will consider their “standard” rates plus an additional expense called a flat extra.
Flat extras are temporary and add $500 – $750 per every $100,000 of coverage you buy.
Stage 2 Colon Cancer
Stage 2 colon cancer has spread into the outer layer of the colon wall and in some cases may have spread to nearby tissue or other organs. No lymph nodes are involved.
Stage 2 colon cancers are indicated as Stage 2A, Stage 2B or Stage 2C.
Stage 2A Colon Cancer
Postpone periods run 12-60 months after completing all treatment.
Once the postpone period is over, life insurers will consider their standard rates plus a flat extra expense of $750 – $1000 per every $100,000 of coverage you purchase.
Stage 2B Colon Cancer
Postpone periods tend to run 24-60 months after completing treatment.
Flat extra expenses will typically be $1000 or more per every $100,000 of coverage you consider.
Stage 2C Colon cancers follow the underwriting rules for Stage 3 colon cancers.
Stage 3 Colon Cancer
Stage 3 colon cancer has spread to at least 1 lymph node, and possible more depending on whether the cancer is stage 3A, 3B or 3C.
The best case scenario is typically a 5 year postpone (2 years for age 65+). Best case meaning 2 or less lymph nodes and normal CEA level.
Once coverage is available, a permanent table rating is added to the standard rate, and flat extra expenses of $1000 per every $100,000 of coverage are common.
In our experience, most stage 3 colon cancers will receive a postpone period of 10 years or longer due to the severity of the cancer.
A guaranteed issue life insurance policy may be the best option initially.
Stage 4 Colon Cancer
The only option for a stage 4 colon cancer is a guaranteed issue life insurance policy.
With this type of policy, the death benefit is graded during the first few years of the policy.
How Our Colon Cancer Life Insurance Underwriting Service Works
Life insurance companies have their own criteria for underwriting colon cancer, and underwriting offers vary widely.
With our quick quote process, we’ll gather your detailed medical history from you. We then shop out to life insurance companies on an anonymous basis for feedback.
It takes about 3 days to hear from all companies.
At that time, we’ll show you what each carrier has to say and what to expect in terms of underwriting and price.
If you change your mind at any time, simply tell us to close your file. There is never any pressure or obligation with our service.
In addition to colon cancer, some of the other cancers that we specialize in include:
Please take a few minutes to complete your no pressure, no obligation quote request today.