The Difficulties of Life Insurance for Critically Ill Patients

When one purchases insurance, it is basically a contract between the policyholder and the policy issuer that promises the policyholder he or she will be paid against the occurrence of whatever is being insured. For example, if it is automobile insurance, that is to cover the automobile in case of accident. In life insurance, it is coverage in case something happens to the individual. This article will focus on the difficulties of insurance for cancer patients.

Cancer affects many people. In fact, 40% of individuals will experience some type of cancer in their lifetime. About 10% of those individuals will be diagnosed with cancer before they are fifty, and 55% before they are age seventy-five. In the event that you are dealing with a cancer, life insurance coverage will still be available but of course the requirements will vary according to the type of cancer and the stage it is in. It will be rather difficult to get a good quote on a policy until about two or three years after the cancer is gone (or in remission). Logically, an insurance company will not want to take what they deem an unhealthy risk until it appears that the cancer is not likely to be an issue for you any longer. The premiums for such insurance will be quite high, but may decrease over time as the such does the cancer threat. This all sounds unfair and rather harsh, but from a business standpoint, critically ill clients are just not a good risk. Fortunately, the Disability Discrimination Act (DDA) has set in motion certain guidelines around insurance companies and those with critical illnesses such as cancer.

Genesage Life Quotes are insurance professionals geared to help people going through critical illnesses such as cancer. They offer policies with the best rates possible and some of these policies will cover individuals up to the age of 85. The earlier the individual gets the policy, the better rates for him or her, of course. It is important to keep up with any changes in critical insurance policies as medical science advancements have discovered ways of earlier detection of cancers than in the past. More information on securing critical insurance can be found at WWW.genesage.com/critical-illness-and-cancer-life-insurance.