How Mental Illness Affects Your Life Insurance

How Mental Illness Affects Your Life Insurance text overlaying an image of a woman sitting on a chair with her head in her handsWhen choosing whether or not they should accept your life insurance application, insurance companies look at a number of things. Some of these things are your age, your job, your habits, your general health, and your mental state. Mental health affects many of us, with about 57.8 million American adults having a depression, anxiety, or PTSD diagnosis. As we learn more about how mental health affects people, insurance companies change their screening process. Your mental health can affect whether you can get a life insurance policy and how much you’ll pay for it. So, it’s important to know what life insurance agents are looking at on your application if you struggle with mental health. So, you know what to expect and which policy would be worth the higher premium. 

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Depression

Depression is a common mental illness that is often treatable. However, if you have depression and want to get life insurance, insurance companies will consider you being a higher risk applicant. The main thing that worries life insurance companies about a depression diagnosis is that, according to the National Institute of Health, depression often leads to other serious health issues. For example, the chance of coronary artery disease is 64% higher for people who have a depressive disorder or even signs of depression. Other health conditions linked to depression are weakened immune system, and cardiovascular disease.

 

Aside from the health concerns, some life insurance companies also worry that people suffering from depression may have trouble paying their premiums. Statistically speaking, people with depression are more likely to quit or lose their job. This is because they tend to feel like they can’t do the job, struggle to show up or are not able to be productive.

 

Some insurers even treat postpartum depression as clinical depression even though it’s a temporary form of depression. Postpartum usually happens within the first 3 months of having a baby. It does eventually fade away especially if you seek help for it. But because life insurers treat it as clinical depression you face higher rates. Which is difficult because many parents buy life insurance when they start a family. 

Depression Categories

Most people experience sadness at various points in their life. However, being sad is not the same as having a depressive disorder. Because of this, life insurance companies only consider you to have depression if you have a diagnosis from a doctor prior to applying for a policy. Depression can be defined in a number of ways, just like many other health problems. These include seasonal affective disorder, persistent depressive disorder, and major depression. Companies that sell life insurance divide people into 3 groups. How they decide your rate depends on which group you’re in.

 

 

  • Mild – You’ve had no more than one type of medication for depression and have never been hospitalized for depression.
  • Moderate – You take multiple depression medications and see a psychiatrist.
  • Severe – If you’ve ever had suicidal ideations or a history of an attempted suicide.

Anxiety

If you have an anxiety disorder diagnosis life insurance companies will take that into account when deciding your eligibility and premiums. When a person with anxiety applies for life insurance, drugs and alcohol abuse is one of the main things that life insurance underwriters worry about. Life insurance companies will be very hesitant if you use drugs or alcohol to treat yourself. Or if you have a history of abusing them. Each case is carefully examined to decide if you can buy the policy. Having an anxiety disorder can make it harder to get life insurance, but it doesn’t mean you can’t get it at all. Many people who have been diagnosed with anxiety are still able to buy life insurance. The good news is not all life insurance companies cover health concerns the same way. So one company may charge you more than another because of the anxiety.

Anxiety Ratings

Different people have very different anxiety conditions. When working with underwriters, many people with these disorders may find it uncomfortable to be put in the “mental illness” category, especially since some of the questions are intrusive. But insurance companies usually depend on experts, especially the criteria for these conditions set by the Centers for Disease Control and Prevention (CDC), to figure out how extensive the disorder is.

 

If you’re not sure about the classification, you should first ask for more details. It is always better to treat a condition properly than to do nothing. In fact, many people with much worse mental illnesses than, say, occasional panic attacks can get life insurance as long as their situation is under control. As we mentioned, some of the questions may seem like they are prying. Some common questions you might get are:

  • What is the diagnosis?
  • When did you get diagnosed?
  • How severe is the condition?
  • Have you received treatment?
  • What are your symptoms?
  • How long have you had the symptoms?
  • Have you missed work due to your condition?
  • How has your situation changed your life?
  • Has a reason been found for your condition?
  • Have you ever been hospitalized for the condition?

Possible Outcomes

Depending on your answers and medical records (you’ll be asked for the names and addresses of the doctors and hospitals you’ve been to), you can expect the following “ratings”:

 

  • Preferred rating – This means that your mental health is under control or not too bad. Either you are taking one medication that works well. Or a mental health professional has told you that you don’t need any medicine at all. In short, you can expect to get the best benefits and prices if your diagnosis doesn’t affect your health as a whole.
  • Standard rating – This means that your mental health problem isn’t too bad, but it does affect your health in some way. This group includes people who have been hospitalized, need daily therapy, or have more than one prescription.
  • Table rating – This grade means that your mental health problem is very bad or that you aren’t doing anything to deal with it. This grade could lead to either high premiums or being turned down for coverage.

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PTSD

Even though many traditional term or whole life insurance applications from people with Post-Traumatic Stress Disorder (PTSD) are automatically turned down. There are a few companies that will at least look at a person with PTSD as a possible candidate for traditional coverage. Before you even think about asking for coverage, make sure the life insurance company you’re working with is more willing to work with people who have PTSD. If you don’t, you’re likely wasting your time and effort.

 

Insurance companies will want to know more about your diagnosis of PTSD. They may also want to know about your habits and how you live. The insurance company will use this information to figure out how much of a risk you are. And how much your premiums will be. The questions you’ll be asked are very similar to the ones asked for anxiety. You can expect:

 

  • What traumatic event started your PTSD?
  • What are your symptoms?
  • How long have you had PTSD?
  • What treatment did you receive?
  • What is your current mental health state?
  • What medications are you taking for PTSD?

PTSD Rating

As we’ve already said, if you’ve been diagnosed with PTSD, most standard term or whole life insurance companies will automatically turn you down. They do this because they think that insuring people with PTSD is too much of a financial risk for them. Which is fine, since not all life insurance companies will have such strict rules about who they will accept.

However, you can bet that even companies who aren’t that strict will be hesitant to insure someone who has been diagnosed with PTSD. Because of this, most people who are able to get coverage do so at a “sub-standard” rate. Which means their insurance will cost more than if they hadn’t been labeled with PTSD.

Other Life Insurance Options For PTSD

If your PTSD or other health problems make it hard for you to get a traditional term or whole life insurance policy, you may have other choices. You could also think about getting a “guaranteed issue” life insurance policy. People who can’t get traditional life insurance because of their health or other reasons can get guaranteed-issue life insurance. These policies don’t require a medical exam or ask the applicant about his or her health background. So, they are often more expensive than standard life insurance policies and may have lower coverage limits.

 

These plans will also have a “graded death benefit,” which limits when your policy will start covering natural causes of death (usually, the policy needs to be in place for two to three years before natural causes of death are covered). An accidental death policy is another thing to think about. A policy for accidental death is a type of life insurance that pays out if the insured dies in an accident. Accidental death policies usually pay the policyholder’s beneficiary a reward if the policyholder dies in an accident. Accidental death plans will never cover deaths caused by illness or natural disasters, no matter how long you own the policy.

Working With EZ

As we’ve seen, those suffering from depression, anxiety, or PTSD face a difficult scenario. But it doesn’t have to be disastrous. The milder your symptoms are and the better you manage your condition, the more likely it is that you will be able to obtain coverage at a cheaper rate. This also applies to your overall health. People with chronic diseases or poor habits, such as diabetes and alcoholism, will be scored similarly to those with depression or anxiety.

 

It is critical to weigh ALL alternatives here. This is where EZ comes in. EZ is dedicated to getting the best coverage at the greatest price for you and we want to make it as simple as possible for you to do so! We are here to help you. And the best part is that all of our services are completely free of charge. We will help you with everything from answering all of your inquiries to selecting a policy, completing the application procedure, and providing support after your plan has been implemented. To begin, enter your zip code into the bar below or phone us at 877-670-3560. If you or someone you know is suffering from depression, anxiety, or suicidal ideation, please call 1-800-273-8255.

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Whole Life Vs Term Life Insurance

whole life vs term life insurance text overlaying image of two different colored doorsThere are many aspects of life that are beyond our control, most of all being when it will end. Even though you have no control over that. You can take steps to ensure that your family is not put in a financially precarious situation when the time comes. It’s time to look into purchasing life insurance. And once you start searching, you will notice that there are many different kinds of policies available. The first thing you have to decide between is if you want temporary (term) or permanent life insurance (whole life). Most people have trouble deciding which one is a better fit for them. Some even end up switching from one to another. To start you need to understand the fundamentals of each, including the pros and cons. Below we’ll look at each policy and then compare them for you.

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Term Life Insurance

Term life insurance is the more affordable of the two, because unlike whole life insurance, it does not last forever. You have the ability to choose how long you want to be insured when you purchase this kind of policy. The length of time (known as the term) can typically range anywhere from 10 to 30 years. But there are companies who offer shorter or longer terms as well.

 

Your beneficiary will only receive the face value of the policy from your estate. And there is no cash value that can be withdrawn from the policy before you’ve passed away. This is one of the primary differences between your two options. People who want to be covered for a set amount of time, such as while they are still making payments on their mortgage or other loans, are the best candidates for this kind of insurance policy. Additionally, if needed, you can convert your term policy to a whole life policy.

Types Of Term Life Insurance

There are several types of these policies. Below we’ve highlighted a little bit of each of them to give you an idea of how term life insurance works.

Level term

This type of term life insurance policy is the most common type and is often the type people choose. The reason for its popularity is simple. Both the death benefit and the premium are set when you purchase your policy. Meaning they don’t change during the entire term. You’ll never suddenly have to pay more a month or suddenly have a smaller death benefit. Making this type straightforward and easy to manage and afford.

Annual renewable

Coverage under an annual renewable life insurance will last for 1 year. You are able to renew your policy every year however, the premium will rise each year due to your age. This type of policy is best for meeting short-term needs for life insurance coverage. This is because the policy will eventually become expensive the longer you have it. If you want a longer coverage it’s more beneficial to choose a different option.

Increasing term

With these policies your death benefit will increase at a steady predetermined rate over the length of your term. For example, your health benefit could increase by 5% every year. Meaning over the course of your term your coverage becomes more valuable. However, increasing benefits typically means increasing premiums. 

Decreasing term

This policy is the exact opposite of an increasing term policy. With these your death benefit will decrease over your term but your premiums will remain the same. But why would anyone want a smaller death benefit? Great question, this type of policy is typically meant for someone who wants to make sure a specific loan or debt is covered once they pass. For example say you have a large mortgage and you want to make sure it’s paid off for your family if you pass away. As you pay off your mortgage while you’re alive the death benefits decrease, matching the loan amount. That way when you pass the amount your family would need to finish off the loan will be available to them. This ensures they can remain in their home and not have extra stress of worrying on top of their grief. 

Return-of-premium

Return-of-premium life insurance, also referred to as ROP insurance, is a type of term life insurance that will return your payments in the event that you outlive your coverage. The premiums for ROP policies are significantly higher compared to those of other term life insurance types. On the other hand, you may find that the possibility of having your premiums returned to you is a valuable feature of this kind of insurance policy.

 

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Whole Life Insurance

Whole life insurance is a life insurance that will remain in effect for your whole life. Because of this, the cost of this policy is significantly higher than the cost of term life insurance. These policies come with a cash value that makes these policies an investment as well as provide protection. You can borrow money or take money out of the cash value of your policy whenever you need and a portion of your premium payment is always added to the cash value of your policy. If you pay your premiums in accordance with the guidelines set forth by the government, you will be able to withdraw tax-free the majority or all of what has accumulated in your account.

Types Of Whole Life Insurance

Just like with term life insurance, there is an array of options available to policyholders when it comes to whole life insurance. This gives you the ability to select the precise coverage you require along with the benefits you desire:

Indexed

A type of permanent life insurance that includes a cash value, which earns interest based on an investment index chosen by your insurer. For the vast majority of individuals, purchasing indexed whole life insurance is not the most prudent financial decision. It is possible that your cash value will grow faster than it would under a traditional whole life policy. However, this rate will be lower than what you would receive from a savings or checking account. The minimum rate of return on your cash value is determined by your provider and the majority will also determine your earnings’ maximum rate of return. In addition, these policies may not be the best option because cash value accounts incur fees, whereas traditional savings accounts do not.

Modified

The initial payments for a modified whole life policy, also known as a modified premium whole life policy, are affordable. After the initial payment period (2 to 5 years) finishes, the premium will increase once and then remain constant for the remainder of the policy’s term. Rather than waiting until you’re older to purchase coverage, you can obtain a higher death benefit sooner by purchasing a modified premium policy. Even if you cannot currently afford the higher premiums but are confident that you will be able to in a few years. During your initial payment period, it may not be possible to add to the cash value.

Simplified issue

Simplified issue whole life insurance is a permanent form of life insurance. Therefore, you are covered for the duration of your life. However, its coverage is less extensive and it is restricted to those aged 45 and older. If you apply for this type of policy, you will not need to undergo a medical exam. Instead, you will be asked a few health-related questions. Insurers will charge you a higher premium for a lesser coverage amount with this policy because the health evaluation is not as thorough. The expedited application process will result in almost immediate coverage. However, you should be aware that even with simplified issue policies, there are still conditions that can prevent you from acquiring coverage.

Guaranteed issue

Guaranteed issue life insurance does not require any type of medical underwriting. In other words, neither a medical exam nor questions about your medical history will be required. There is a catch -this type of life insurance requires you to pay a higher premium in exchange for a smaller death benefit. In addition, after purchasing this type of policy, you will be subject to a waiting period. During which death benefits will not be paid out.

 

In addition, you will not be covered if you die from certain causes (such as suicide) in the first few years after purchasing the policy. This doesn’t mean that guaranteed issue policies have no value. Due to the guaranteed issue nature of these policies, they can be a lifeline if you are over a certain age or have health issues that make traditional insurance policies unaffordable. In most cases, however, the maximum coverage amount for these policies is $25,000.

The Differences

Both term and permanent life insurance require a monthly premium payment. In exchange, your beneficiaries will receive a predetermined amount of money (your death benefit) upon your passing. The length of the policy is the primary distinction between these types of insurance. 

 

When purchasing term life insurance, you will be required to choose the duration of your coverage, typically between ten and thirty years. Your policy will terminate at the end of that period. If you outlive your policy, your beneficiaries will not receive any death benefits. You will then be required to decide whether to purchase a new policy or extend your current one. In both scenarios, your premiums will likely increase because you will be older and may have developed health problems. 

 

A major disadvantage of term life insurance is the possibility that your policy will expire and you will have to extend or repurchase it. However, with whole life insurance, you may pay higher premiums, but the policy covers you for the remainder of your life. In addition, many whole life policies have a cash value – similar to a savings account – that accumulates money over time.

Which Is Best For You?

When selecting the life insurance policy that best meets your requirements, you must consider your assets, loans, budget, and desired duration of coverage. Do you want to ensure that expenses such as mortgage payments and college tuition for your children are covered? Then a term plan is an excellent and inexpensive option. Do you want to accumulate a cash value that you can borrow against and that your family can use when you die? Then your whole life will function better for you.

 

The premiums for both whole life insurance and term life insurance are fixed for the duration of the policy. But whole life insurance is more expensive because it remains in effect until death. Whereas term life insurance expires after a set period of time. If you are on a tight budget, you should purchase term life insurance, but if you want to build cash value or have long-term dependents, you should purchase whole life insurance. 

 

We recommend consulting with a licensed agent before selecting a life insurance policy. They will be able to discuss your options and determine the best plan for your requirements. Don’t wait until you need life insurance to compare rates from the listed, highly-regarded insurance providers. Always check multiple sites to ensure that you have negotiating power and that you are aware of the unique benefits of each company. Ensure that a difficult time for your loved ones will not be exacerbated by a financial burden by comparing life insurance rates today. Start comparing today by entering your zip code in the box below or giving us a call at 877-670-3560.

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Is It Too Late to Get Life Insurance in Your 80s?

Is it ever too late to get life insurance? For example, what if you’re already in your 80s – would it be pointless to purchase a policy, and would you even be able to? Well, actually studies show that the typical limit set by most insurers for purchasing life insurance is around 90 years old. Buying a policy when you’re at an advanced age will probably cost more than it would if you were younger, but with that being said, it is completely possible to find simple, affordable life insurance that gives you the coverage you need, even if you’re between the ages of 80 and 85. 

Why Seniors in Their 80s Purchase Life Insurance

Did you intend to buy insurance earlier in your life and never got around to it? Has something happened now that is spurring you to buy a policy? You’re not alone: there are other seniors in their 80s out there looking for policies, possibly because: woman sitting next to an older man showing him things in a book

  • They are being encouraged to do so by family– A child or grandchild might find out that their family member is not insured, and encourage them to purchase a policy or look into buying a policy for them.
  • Someone close to them has passed away- The passing of a loved one or friend, especially if they have left nothing behind, might make them reconsider life insurance.
  • They procrastinated– We’ve all been there: everyone puts things off until the last minute at some time in their life. Not only that, but retirement might have come upon them quickly, and they might not have even realized that they were going to lose their employer-based life insurance, and they simply put off looking for a new policy. 

What Options Do You Have? 

If you find yourself in one of the situations above, and are looking for a life insurance policy in your eighties, you have several options:

  1. Term life insurance is a great option because most healthy seniors over 80 can buy a $50,000 10-year term policy for around $30 a month. One thing to note, though, is that because of your age, you might not be able to renew your policy.
  2. Guaranteed universal life is an option that is similar to traditional universal life, but this type of policy is more focused on the death benefit and length of coverage than on cash accumulation. Most companies that offer guaranteed universal life will require you to purchase a minimum death benefit of $50,000, but some will go as low as $25,000, which is why it is important to compare plans from different companies, so you can review all of your options.white casket being carried by people
  3. Final expense insurance is very popular because it is generally available to seniors up to age 85, and can provide coverage amounts from $3,000 to $30,000, depending on the age you are when you apply. Final expense is popular because it is easy to purchase and no medical exam is required. It is usually purchased to cover final expenses like funeral and burial costs.

Need Help?

Just because you are older than most people who are looking for life insurance, doesn’t mean that you won’t be able to find an affordable policy. There are many options available that will allow you to leave some money behind for your children and grandchildren, or simply allow you to cover your funeral expenses and medical debts. 

There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Inflation and Life Insurance

It’s no secret that the price of everything has been steadily rising, making it harder and harder to afford even simple things like gas and groceries. And inflation doesn’t seem like it’s going to ease up anytime soon, leaving many Americans worried and afraid – and rightfully so, since it’s not easy to deal with these rising costs. 

And here’s another problem: what if you want to financially protect your family in these challenging times with a life insurance policy? As the price of everything rises, will premium rates also go up? The answer depends on whether you already have a policy or not, and what kind of policy you have or want to purchase.

graph going upwards with an arrow above the graph and money around it
The only time you will have to worry about rate increases is when your term policy expires.

Will Inflation Increase Your Life Insurance Rates?

If you already have a life insurance policy, have no fear, your rates will not go up despite the inflation. Once your life insurance policy is issued, your rates are locked in for life, whether you have a term policy or a permanent policy. The only time you will have to worry about rate increases is when your term policy expires, and you choose to purchase a new one or renew your current policy.

Will Life Insurance Companies Experience Financial Difficulties Due to Inflation?

If you’re worried that your life insurance company will experience financial trouble during this period of inflation, which will either raise your rates or diminish your policy, you can rest easy. Inflation is generally only temporary, so it’s not likely to create hardship for insurers. 

 

That said, it’s crucial to purchase a policy from a company with an A or higher rating from the national rating services. Avoid choosing a lesser-rated life insurance company, because although you might save some money, choosing a less stable company could end up being a problem for you down the road. 

Budgeting For Life Insurance

We get it: the price of everything is astronomical these days, but that doesn’t mean you have to consider getting rid of your life insurance policy or going without one. There are things you can do to fit a policy into your budget, allowing you to still be able to provide for your family when you are gone. Things you can do to cut down on costs include:paper next to a calculator

  • Cutting back on gasoline usage
  • Shopping for your car insurance every 6 months
  • Paying down or paying off high-interest loans and credit cards
  • Cutting your spending on groceries wherever possible
  • Making your coffee at home rather than paying $5 – $7 at your local coffee shop
  • Cutting back on eating out 

Times are tough, and that’s all the more reason for you to make sure you have a life insurance policy to protect your family’s financial future. After all, your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. 

The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

How Using E-Cigarettes Affects Life Insurance Rates

If you have health issues or engage in certain behaviors, like smoking, trying to find a great life insurance policy can seem daunting. Most insurance companies require a medical exam to qualify for a policy, and most will ask you questions about your lifestyle and medical history, so they will know how healthy you are, and if you are a smoker. But what if you use e-cigarettes? Whether you smoke traditional cigarettes or e-cigarettes, you can expect to pay slightly higher rates than non-smokers. But don’t let that scare you off, you can find an affordable life insurance policy even if you are an e-cigarette user. 

What Are E-cigarettes?e-cigarette with liquid

Electronic cigarettes, or e-cigarettes, have become popular with a lot of smokers, especially those looking for a way to smoke fewer traditional cigarettes. While many people believe that smoking e-cigarettes, or “vaping,” is less of a health hazard than smoking traditional tobacco cigarettes, the jury is still out on the health effects of this type of smoking. Most e-cigarettes still contain nicotine, an addictive drug, and they can affect your cardiovascular system, your lungs, and your respiratory health over time. This means that e-cigarettes are still considered to be a form of “tobacco use” in the eyes of health insurance companies. 

How E-Cigarettes Affect Life Insurance Rates

Life insurance companies consider anything harmful to your health as a risk when it comes to insuring you, so using e-cigarettes will affect your life insurance rates. But, because using e-cigarettes is not considered the same as smoking traditional cigarettes and using tobacco, life insurance companies are starting to offer better ratings and lower premiums for people who use e-cigarettes compared to people who smoke traditional cigarettes. Some insurers, but not all, will even place people under a non-smoking category if they only use electronic cigarettes.

illustration of a hand holding a line with one end a clock and the other end money
Some life insurance companies will lower your rate after you have quit smoking for some time.

In fact, all life insurance companies have different ways of rating smokers. For example, some life insurance companies will allow you to begin your policy at a non-smoker rate for three years, and if you have quit smoking after the 3 years are up, you can continue to pay the same rate. If you continue to smoke, though, you will most likely have to pay a slightly higher rate. Not all insurers allow you to do this, but most will allow you to retake your medical exam and reclassify into a better health class if you have quit smoking for at least a year. 

Finding An Affordable Life Insurance Plan

If you’re looking for term or permanent life insurance, the best way to find an affordable policy is to compare all of your options. But if it turns out that you can’t find affordable permanent or term life because of your history of using e-cigarettes, you can also look into guaranteed issue life insurance. You can get guaranteed issue life insurance regardless of your health, because you won’t be required to take a medical exam or answer any medical questions. Just be aware that these plans typically offer lower coverage amounts. 

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Getting Life Insurance with Colon Cancer

The lifetime risk of developing colorectal cancer is higher than many people might think. In fact,  approximately 1 in 23 men and 1 in 25 women will be diagnosed with this type of cancer in their lifetime. The good news, though, is that while a colorectal cancer diagnosis would have been considered a death sentence in the past, after decades of research, studies, and technological advances, the prospects are now much brighter for people who are diagnosed with this disease. Many of them will go on to live long and normal lives, and that means that this type of cancer is also no longer a barrier to getting life insurance. Underwriting guidelines now take into consideration the innovative cancer treatments available, so things have changed a lot for the better.

Colon Cancerred circles on the colon area of aa body

Colon cancer develops when there is uncontrolled cell growth among the cells of the large intestine, or colon, where water and salt are extracted from solid waste before the waste continues through the rectum and is expelled. The growths that occur when the cells of the colon grow out of control are known as polyps; some types of polyps can turn into cancer over time. 

Risk Factors & Causes

Research points to several risk factors that appear to increase the likelihood of a colon cancer diagnosis, including:

  • Family history
  • Age (around 90% of all cases of colon cancer are diagnosed in people between the ages of 50 and 75)
  • Obesity
  • Inactivity
  • Poor diet
  • Smoking
  • Alcohol consumption
  • Other underlying health conditions, including diabetes and inflammatory bowel diseases, like Crohn’s disease and ulcerative colitis

Qualifying for Life Insurance

As we mentioned earlier, a diagnosis of colon cancer does not disqualify you for a life insurance policy. If you are applying for traditional life insurance, the best thing you can do is compare all of your different options so you can find companies that offer coverage for high-risk applicants. 

sign with different arrows pointing at the word possibility
Even if you do not qualify for traditional life insurance, you have the option of a no medical exam life insurance policy that is guaranteed.

And even if you fail to qualify for a traditional life insurance policy because of your cancer diagnosis, that doesn’t mean you can’t find a great policy. There are other types of life insurance policies that don’t require a medical exam, and even some that don’t ask any questions at all regarding your health or your family’s health history. If you are worried that you will not pass a medical exam or that you will end up paying a lot for life insurance, guaranteed issue, simplified issue, or instant-approval term life insurance policies are great options for you. With these plans, you will not have to undergo a medical exam, and will not be required to provide blood work or any other tests. You cannot be turned down for these policies for any health-related reasons.

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.