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Life Insurance for Someone with Prostate Cancer
Does prostate cancer affect life insurance?
Above all, when you have active prostate cancer with current treatment most life insurance products will decline or postpone until treatment is over. In addition, you will need to at least have a few follow-ups to make sure cancer has been eradicated if you want prostate life insurance.
In fact, life insurance for prostate cancer survivors is very achievable. We will go over this extensively in this article so YOU will have a better understanding.
Again, prostate cancer is considered a pre-existing medical condition and a high risk one at that. But you can get coverage if you talk to the right agent. Overall, if caught early, this is one of the cancers life insurance carriers are lenient with for its low mortality rate if caught early.
So don’t fret, prostate cancer survivors’ life insurance can be affordable!
Life Insurance After Prostate Cancer
Can I get life insurance if I had prostate cancer?
Trying to get life insurance with any pre-existing condition will be challenging especially after a diagnosis of prostate cancer. Although prostate cancer is one of the most common types of cancer in men, it is still cancer you want to catch early.
When applying for prostate cancer life insurance after being diagnosed with prostate cancer it will come down to what kind of treatment, stage, and grade of the tumor before coverage will be considered.
Here are the factors life insurance underwriters will consider when determining whether you are eligible for coverage:
- What age were you diagnosed
- Treatment (Radiation, Brachytherapy, Prostatectomy)
- Current PSA levels
- Gleason Score
Although less than 10% of prostate cancer survivors actually pass away, treatment and catching it early is the best way to have success for cancer patients seeking life insurance.
So if you are looking for a life insurance policy for someone with prostate cancer let them know it is very possible! Above all, getting life insurance after prostate cancer YOU MUST talk to the right agent!
Life Insurance After Prostate Cancer Surgery
After being diagnosed with prostate cancer the treatment options available are depending on the stage and how early the diagnosis is. If you opt into surgery, a prostatectomy will be performed. Again, this is all depending on the stage of cancer, the overall health of the patient, and other factors.
When performing a prostatectomy, it involves the removal of the prostate and in some cases the surrounding healthy tissue to make sure all the cancer cells have been removed. Usually, after the surgery is successful, the patient’s PSA (Prostate-Specific Antigen) is usually less than .01.
Here are the 3 types of Prostatectomy:
- Radical Prostatectomy (Open)
- Robotic Prostatectomy
- Bilateral Orchiectomy
Above all, when you have the entire prostate gland removed with the combination of catching cancer early, there is a very good chance that you may be able to get affordable coverage.
Can I Get Life Insurance After Prostate Cancer
If you just have been treated for prostate cancer and it was successful, then you will be able to secure life insurance. Even know any form of cancer is high risk, prostate cancer is a very slowly progressing cancer.
After treatment has been completed there is a chance that obtaining a standard rate can be accomplished. Of course, there will be some criteria in order for this to be possible.
Above all, being able to secure a standard rate insurance quote will be based on the following.
Treatment of Radiation and/or Prostatectomy
- PSA does not rise during active surveillance (watchful waiting) if over age 60
- Older ages at diagnosis, Gleason Score < 6, No Gleason 4 or 5 reported
- PSA is persistently < 0.2 after radiation
- PSA is persistently undetectable (<.01) after radical prostatectomy
Life Insurance Underwriting Prostate Cancer
Below are the basic Life Insurance Underwriting Ratings after Prostate Cancer. Overall, this will determine your rate class and what you will pay monthly.
Life Insurance Rating For Prostate Cancer:
Treated by Active Surveillance, Watchful Waiting
- Age 55-59: Postpone 5 years from diagnosis or until age 60
- Age 60+: Table 2 – Decline based on Gleason, Stage, PSA, and current age.
Treated by Radiation Treatment
- Age 50+: Table B-Decline based on If PSA is undetectable and over age 65 Table B possible.
- Unfavorable factors include PSA > 1,
- Hormonal therapy, Stage > cT2,
- Greason 4+3 or tertiary 5 (worse if Gleason 8-10).
- Decline if PSA is detectable.
Treated by Prostatectomy
- Standard – Decline: Unfavorable factors: PSA > 1.0,
- Gleason 4+3 or tertiary 5,
- Gleason unknown or 8-10,
- Stage > pT3a, hormonal therapy.
Now that you know it is possible to get coverage. The best way to secure life insurance is to shop around and deal with an independent agent that knows the guidelines.
Questions Asked By Most Underwriters:
These questions are very important in achieving prostate cancer life insurance underwriting approval.
Term Life Insurance After Prostate Cancer
Acquiring term life insurance after prostate cancer treatment may be challenging but it is obtainable. However, it will be difficult acquiring term life insurance WITH prostate cancer.
When it comes to underwriting for a term policy there will be a paramedical exam, APS (Attending Physicians Statement) or medical records with the pathology report. The underwriter will want to see the entire picture to access risk appropriately.
In underwriting, prostate cancer will be assessed by stage and grade of the tumor. The stage is the tumor size. The Gleason score graded the aggressiveness of the tumor. The Gleason score ranges from 2-10. The higher the Gleason score the more likely it will spread.
Here are some examples of treatment and how it will impact a prostate cancer life insurance quote and company rates.
John is 51 years old and was diagnosed with prostate cancer and had a radical prostatectomy. More than one year later with a Gleason score under 5 and PSA at undetectable levels, John had got a standard rate.
Steven was diagnosed with prostate cancer at age 56 and undergone radiation treatment. The cancer was confined to the prostate and after one year of radiation treatment with Gleason score under 6 and PSA under .02 with no rise over the year, he would be approved at a standard rate.
Roger was diagnosed with prostate cancer at age 62, the cancer was confined to the prostate. At application and with the Gleason score under 6 and PSA under 10 and not rising the insurance company postponed for three years after diagnosis. He was then approved for Table 3/C at age 65.
So it is no mystery that if you want the best rate available after a prostate cancer diagnosis, treatment will have a big impact. If I am ever affected by this disease, you can have my prostate.
Survival Rates For Prostate Cancer
When you are diagnosed with prostate cancer the insurance company does look at it differently say then other cancers like skin cancer (melanoma). The survival rate is the key.
For prostate cancer, the 5-year survival rate with local regional prostate cancer is nearly 10%. However, if cancer spread to other parts of the body or lymph nodes, the 5-year survival rate would be 30%.
Frequently Asked Questions
Is prostate cancer usually fatal?
AS long as the cancer is confined, then the 5-year survival rate is close to 100%
How long can you live with prostate cancer that has spread?
If cancer spread, the survival rate will drop to about 1/3
What are the 5 warning signs of prostate cancer?
Weak urine flow
Blood in urine
Burning when urinating
To wrap this up if you are diagnosed with prostate cancer take the advice of your oncologist. The best chance for survival would be for the removal of the prostate gland.
Get it early!! Removed!! if you are shopping for life insurance it will put you in the position of getting the best rate available.
If you have any questions, feel free to call me, Danny Ray 855-380-3300 ext1.