Guaranteed Life Insurance For Cancer Patients or Survivors

Written by Jeff Root

You can receive instant guaranteed life insurance quotes by using the free quote tool on this page. You will instantly see prices from many insurance companies offering no medical exam insurance for cancer patients in your state.

If you’re shopping for life insurance for a cancer patient or survivor, you have come to the right place.

Below, we discuss in-depth how to find the best life insurance possible if you or a loved one has cancer. By the end of this guide, you’ll know:

  • How insurance carriers view cancer, including the best companies.
  • Types of life insurance you can get with cancer or as a survivor.
  • What to expect in the application process.
  • How to find the best life insurance product for your situation.

Quick Navigation

Can You Get Life Insurance When You Have Cancer?
How Life Insurance Companies View Cancer
For Current Cancer Patients
For Cancer Survivors
3 Best Life Insurance Companies for Cancer Patients
Applying for Life Insurance with Cancer

Guide to life insurance for cancer patients

According to The American Cancer Society, cancer is the second leading cause of death in the United States. For this reason, many cancer patients think they cannot qualify for a life insurance policy.

Can You Get Life Insurance When You Have Cancer?

Yes, you definitely can get life insurance if you’re a cancer patient. You will just be limited by the types of policies you can buy.

At Guaranteed Issue Life, we’ve helped many cancer patients secure affordable guaranteed acceptance policies.

How Life Insurance Companies View Cancer

Cancer is one health condition that every single life insurance company will ask about.

For some life insurance carriers and types of life insurance products, having cancer is an immediate “knock out” question, meaning instant decline. For other insurance companies, a variety of factors influence what policy makes the most sense.

Common Medical Questions Life Insurance Companies Ask About Cancer

The types of questions you’ll be asked about your cancer include:

  • What type of cancer do you or did you have?
  • Your age when first diagnosed with cancer.
  • The type of cancer you were diagnosed with.
  • The stage of cancer you were diagnosed with.
  • What treatments you received.
  • And your last date of treatment?
  • How many times have you had cancer?

How the Type of Cancer Affects Life Insurance

According to the National Cancer Institute, there are over 100 types of cancer. For this reason, we are not going to go in-depth about how insurance carriers view each type of cancer.

Cancer patient with life insurance

Some of the more common types of cancer that an insurance carrier will have in-depth questions for include:

  • Breast Cancer
  • Skin Cancer
  • Lung Cancer
  • Ovarian Cancer
  • Cervical Cancer
  • Uterine or Endometrial Cancer
  • Liver Cancer
  • Kidney Cancer
  • Pancreatic Cancer
  • Prostate Cancer
  • Thyroid Cancer

Given the breadth of cancer types, the questions mentioned above will be hugely important in what type of policy is best for you.

Life Insurance for Current Cancer Patients

Depending on how you answer the questions on your application, you may only qualify for guaranteed issue life insurance.

This will most certainly be the case if any of the following are true.

  • You currently have cancer.
  • You’ve had cancer within the last 2 years.
  • You’ve had more than one occurrence of the same or different type of cancer.
  • You have had Metastatic cancer that spread to other parts of the body.

If none of those conditions are true, you may qualify for an underwritten policy. You’ll want to talk with an expert to find out.

If you or a loved one is a current cancer patient, you will have to apply for a guaranteed issue policy.

About Guaranteed Issue Life Insurance for Cancer Patients

If you’re unfamiliar with the concept of guaranteed issue life insurance, here are the main features of this type of policy:

  • There are no medical questions or exam.
  • They are guaranteed acceptance (you cannot get denied).
  • The monthly premiums are fixed.
  • The death benefits are guaranteed.
  • They accrue cash value.
  • There’s no expiration date.
  • There is, however, a mandatory graded period.

The Waiting Period

Cancer patient walking on the beach

The number one drawback to a no questions insurance policy is the mandatory graded period.

The graded period is the length of time you must stay alive from the date of coverage in order for your policy to be paid-in-full to your beneficiaries. This length of time does vary depending on which insurance carrier you purchase from but typically is anywhere from two to three years in length.

Most carriers have a two-year graded period.

So how does it work?

Well, if you pass away during this timeframe, your beneficiaries will only receive a partial payout. They will receive the premiums paid-to-date plus interest, which is typically around 10%.

In other words, they’ll receive ~ 110% of the premiums to help cover final expenses.

As you can see, it’s imperative that you begin working through the graded period if you must purchase a guaranteed issue policy. Those currently with cancer will usually require this type of policy, and it’s smart to begin coverage protection as quickly as possible.

Also, the amount you pay in monthly premiums is determined by your age at application, so today will always be your most affordable rate.

The 3 Best Life Insurance Companies for Cancer Patients

If you or a loved one currently has cancer, has had cancer in the last two years, has had it twice, or has had metastatic cancer, then you should apply immediately for a high-risk guaranteed acceptance policy. With this type of insurance product, you will not have to answer any medical questions about your cancer or have your medical history pulled.

We’ve reviewed 15 insurance companies on this site that carry guaranteed life insurance but you can see our top 3 recommended carriers here.

For most people, a life insurance policy from one of these 3 companies is a good fit.

Click the company name below to read our full review on each company and see sample rates.

AIGGerber LifeGreat Western
Coverage Options$5,000 to $25,000$5,000 to $25,000$5,000 to $25,000
Ages Available50 to 7550 to 8040 to 85
Waiting Period2 Years2 Years2 Years
Riders AvailableCritical Illness & Terminal IllnessNoneSpousal Rider, Dependent Child & Grandchild Rider
States UnavailableNew YorkMontanaNew York

To be sure you are getting the best life insurance rates, however, it is best to fill out the form on this page and give us a call so we can look at all your options. Hands down, it is the simplest, easiest and most unobtrusive method in receiving life insurance protection.

Life Insurance for Cancer Survivors

If you do not currently have cancer, but had cancer previously, you may qualify for other types of life insurance without a waiting period. These policies are typically more affordable as well.

Qualifying for Life Insurance with Recent Cancer

Let’s dive deeper into the timeline of cancer. If you have had cancer in the last 2 years, you will still only qualify for guaranteed issue life insurance.

This type of policy comes with the 2-year waiting period and slightly higher rates. Having had cancer so recently, you are considered a high-risk case and there will be penalties in order to receive coverage.

Read more about guaranteed issue life insurance in the current cancer patient section above.

Qualifying If You’ve Had Cancer Twice or More

If you have had cancer more than once, you also have to apply for a guaranteed issue policy.

The majority of carriers will want to know if you’ve had it more than once. If the answer is yes, you will be an automatic decline and will refer you to a guaranteed acceptance policy.

Qualifying If You’ve Had Cancer More Than 2 Years Ago

If you had cancer over 2 years ago, you may have more life insurance coverage options available.

Once the 2-year mark has passed, carriers may view you equally as someone who has never had it. This, however, is completely dependent on which carrier and requires an independent agent who has experience working across all of them to recommend the right one.

That said, the number of carriers with a 2-year look back is minimal. The majority have a 3-year window. If you’ve been cancer-free for 3 years, then you may qualify for an underwritten policy. Which carrier you go with should be determined with the help of an experienced agent, though, since all will view you differently.

Non-Guaranteed Issue Life Insurance for Cancer Survivors

As mentioned, there are too many types of cancer to say definitively if you would qualify for a non-guaranteed life insurance for ex-cancer patients. It is simply too subjective to give accurate advice online.

If you do see a website telling you that you can qualify for an underwritten policy and have cancer, be wary!

There are too many factors to consider and it requires speaking to a qualified agent who can guide the process. Remember, however, if you have had cancer in the last few years, on two separate occasions, or metastatic cancer, then you will not qualify for non-guaranteed life insurance.

Applying for Guaranteed Life Insurance with Cancer

Applying for guaranteed acceptance life insurance when you have cancer is simple.

As a no-questions type of policy, you will not need to disclose any information about your cancer. All you need to provide is the personal information of your beneficiaries and your preferred method of payment. The entire process only takes minutes and you will be working your way through the graded period right away.

There is no one insurance company that can be the best fit for everyone, which is why independent agencies like us are so helpful. WE can shop around and choose from lots of carriers, which ultimately saves you time and money.

And the best part is… we don’t charge you.

We’ve helped 1000’s of people including many cancer patients and survivors secure affordable life insurance. Fill out the quote tool and call us today to get started with one of our experienced life insurance agents.

About Jeff Root & Guaranteed Issue Life
About Jeff Root & Guaranteed Issue Life

Jeff Root is the author of The Digital Life Insurance Agent and host of the Modern Life Insurance Selling Podcast.

Guaranteed Issue Life is a nationally licensed agency, that has helped over 1500 consumers purchase guaranteed issue life insurance. We represent over 30 life insurance companies & transact business in every state.

All content on this site has been written by life insurance experts & licensed life insurance agents.

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