Life Insurance for Cancer Patients (Discounts & Rates)

Life insurance for cancer patients is possible to obtain, but costs can be expensive depending on the level of coverage you want. Many cancer patients choose guaranteed issue life insurance policies because they require no medical exam. However, these policies usually only have $25,000 maximum coverage. Read more to find out everything you need to know about life insurance for cancer patients.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Feb 9, 2021

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The Highlights

  • A cancer diagnosis will make getting life insurance more difficult, but it will not make it impossible to get life insurance
  • Your current cancer status will greatly affect the type of life insurance policy you will be able to get, if you are in remission you will have a better chance at getting higher coverage
  • Current cancer patients will likely be limited to choosing between guaranteed issue and final expense life insurance policies

Life insurance for cancer patients depends a number of factors, but the most important is if your cancer is current or in remission. Most life insurance companies will not sell whole life insurance or term life insurance policies to people who currently have cancer.

However, that doesn’t mean you cannot get life insurance if you have cancer. You will be able to get life insurance if you have cancer, but your options will be limited.

Typically, cancer patients buy guaranteed issue or final expense life insurance policies that don’t require medical exams. These policies don’t have high coverage levels, but they offer life insurance for cancer patients.

If you’re ready to buy life insurance for cancer patients, enter your ZIP code above to compare cheap life insurance for cancer patients.

Can I get life insurance if I have cancer?

You might think that you can no longer get life insurance now that you have a cancer diagnosis, but this is not true. Getting life insurance with cancer is possible, but your options will be limited.

If you currently have cancer you will not be able to purchase whole life insurance or universal life insurance policies. Insurance companies will offer you the chance to buy guaranteed issue life insurance. This type of life insurance does not require a medical exam, but coverage is generally limited to a maximum of $25,000 dollars.

Average Annual Guaranteed Issue Life Insurance Rates Based on Age, Gender, and Policy Amount
Age At PurchasePolicy Coverage AmountAverage Annual Life Insurance Rates (Men)Average Annual Life Insurance Rates (Women)
50$10,000

$15,000

$25,000
$361

$522

$844
$292

$419

$673
60$10,000

$15,000

$25,000
$508

$743

$1,213
$390

$566

$919
70$10,000

$15,000

$25,000
$841

$1,243

$2,047
$609

$894

$1,465
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These policies are generally very affordable even if you do have cancer. It is important to note that in some cases your benefits might take time before they fully take effect. You should understand the ins and outs of your guaranteed issue life insurance policy before you purchase it.

If you need additional help purchasing life insurance, the Insurance Information Institute has helpful resources designed to help you make the best decision regarding your insurance.

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Can I get life insurance if my cancer is in remission?

If your cancer is in remission or you are cancer-free, you will likely be able to purchase traditional term and whole life insurance policies again. However, your insurance rates will likely always be higher as a result of your cancer.

A cancer policy can be added to your life insurance policy to exclude coverage in the event of cancer recurrence, and this can help lower your rates. It will leave you uncovered if your cancer returns.

Life insurance for cancer patients is possible to get, but the coverage you get is going to depend on how much you want to pay for life insurance.

If you’re ready to compare affordable life insurance for cancer patients, enter your ZIP code below to see life insurance quotes for cancer patients.

Are you looking for free insurance quotes?

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