Prostate Cancer & Getting Life Insurance After Surgery

Hi All,
I have been cancer free for one year and 8 mths.
I need to get life insurance and was told by a friend who checked with the underwriter that I have to wait three years from the date of the surgery. He checked with two people and was told the same thing.

Has anyone gotten insurance after prostate cancer and where. I am 52. I need some advice HELP! The wife is on my BUTT about getting it.

I found out that I had/have these following.
T2C
Bilateral grade 3+4=7
Gleason -7

Many insurances want you to be at least 5 years clear before writing a new life insurance policy. It really depends on the standards of the insurance company.

Sometimes you can get very small amounts (5-15k) term, where no health questions are asked, and they usually won't pay for the first 12 months after written if you die. Better than nothing.

David

Some time ago we had the same question posted, and other than term life at a high cost or an employer program, I didn't find anything of substance for a reasonable cost. That cancer question is a big one.

When I was initially applying for insurance I told the agent that I had been treated for cancer he told me that if I was currently cancer free it was not a problem. When I filed the detailed application and they found out that I was treated twice, surgery and then radiation, I was denied.

I'm curious how this will all play out for me. I work for a small software startup that provides no benefits. When I started here, I was in the midst of re-financing my house, so we used that to get a "mortgage insurance" policy. We committed to 10 years at the time and we are 6 years through that policy. So, 4 years from now, I'll need insurance again. Maybe the company will make it and offer benefits by then. Maybe I'll be in a different company that offers insurance. But, I've got plenty of time until that day comes.

The answer I have received is NO, NO and NO. Over the past 7 years I have applied for several different policies and been denied every time. Unless you are elgible for an employee plan, or very young it is highly unlikely that anyone will write you a policy.

I tried again recently for a plan with a $6000 annual premium for 100K. The answer again was no , even though I was still ok with their age range. The Gleason 8 diagnosis was apparently the stopper.

Good luck trying...

Life insurance underwriting for prostate cancer survivors has continually improved over the past few years.

The following factors determine the availability and pricing of life insurance.

• Prostate Cancer Stage
  Gleason Score
  Pre-Treatment PSA
  Post-Treatment PSA
  Type of Treatment Received
  Recurrence if any
  

Prostate Cancer Stage
T1a, T1b, T1c,T2a and T2b prostate cancers are insurable soon after the completion of treatment...in some cases as soon as 4 months after a radical prostatectomy. In some limited cases, you may be able to obtain life insurance prior to treatment.
T2c prostate cancers may be insurable after treatment and will typically incur an additional expense called a flat extra.
T3 prostate cancers are postponed for 5 years after the completion of all treatment, assuming no recurrence.
T4 prostate cancers - the only option available is a guaranteed issue, smaller policy.

Gleason Score
Gleason Score of 6 or less will receive the most favorable prostate cancer underwriting.
Gleason Score of 3+4 =7 may incur a "flat extra" expense depending on the cancer stage.
Gleason Score of 4+3 = 7 will incur a flat extra expense until 5 years after completion of treatment.
Gleason Scores of 8 or greater are postponed for a period of 5 years after completion of all treatment, assuming no recurrence.

PSA Levels
Pre-treatment PSA levels of 20 or less are insurable.
Post-treatment PSA - If you had a radical, post treatment PSA should be negligible. If your treatment was radiation, PSA level after treatment should remain level

Prostate Cancer Treatment
Radical Prostatectomies typically receive the most favorable underwriting.
Radiation - Most prostate cancers treated with radiation will be postponed for 6-12 months after the completion of treatment.
Watch and Wait or Active Surveillance - Stages T1a thru T2b - Age 70 or older is no problem. Age 60-70 is available with a number of companies. Younger than age 60 is difficult, but there are a few companies that will sometimes consider younger than age 60 for their programs.

Recurrence - If there is any recurrence, PSA rising above 0.2, life insurance becomes very difficult, and in most cases coverage would be postponed for 5 years after completion of treatment, and would include a hefty flat extra expense.

These are general guidelines. Keep in mind that every case is unique and may/may not fit with these guidelines.

How Do I Know This Information?
I've been a high risk life insurance expert since 1998 working with multiple life insurance companies in order to find the best rates available for my clients. Prostate cancer has been an important niche area of my underwriting expertise for years.

I hope this helps.
Best Regards,

Post Edited By Moderator (Tudpock18) : 9/17/2015 1:02:55 PM (GMT-6)

What company was that?

I would say that those quotes will not hold up after underwriting due to the t2c and gleason 4+3.
Plus you will be 1-2 years older depending on those companies.

Post Edited By Moderator (Tudpock18) : 9/17/2015 12:58:34 PM (GMT-6)

Unfortunately, whoever told you that was incorrect based on the information provided.
We work with Prudential all the time, but when the Gleason is 7, they are not the best option..here's why

Prudential's guidelines for radical prostatectomy with Gleason 7, stage T2 require their "cancer table c" guidelines.
Those guidelines require a 1 year postpone from the time you complete all treatment.
At that point in time, the rate would be "standard" plus a flat extra cost of $750 per every $100,000 of coverage for 5 years.

For the $500,000 - 10 year term example, age 55 - Prudential would be a postpone for the 1st year after completion of treatment, followed by $5735 per year for the first 5 years of the policy, then $1985 per year for the last 5 years of the policy.

Post Edited By Moderator (Tudpock18) : 9/17/2015 12:58:51 PM (GMT-6)

gotcha....Using your information as an example, Prudential is not the best option....the reason why is the Gleason 7.

Lincoln National would consider you 4-6 months after completion of treatment, at standard rates plus a flat extra of $600 per every $100,000 of coverage. That flat extra would last 4-5 years.

For $500,000 10 year term assuming 5 year flat extra:
Years 1-5 = $4795 per year
Years 6-10 = $1595 per year
Total cost - $31,950
Avg cost per year - $3195

When Gleason is 6 or less, Prudential is best 99% of the time, when Gleason is 7, Lincoln is usually best.

no problem Jim...that info was part of my profile signature.
I wasn't advertising, but saw that there is a lot of incorrect information about life insurance for prostate cancer survivors, and thought what I posted would be beneficial to others. thanks
Mike