Cancer Survivors & Hybrid Long-term Care Insurance
Unfortunately, with cancer affecting so many Americans, it is important we discuss applying for Hybrid Long-term Care insurance as a cancer survivor. Our goal is to help you get approved for a policy despite your medical history!
Now there is no “one size fits all” rule when it comes to applying as a cancer survivor. Each hybrid long-term care insurance company has its own underwriting and approval guidelines.
Nevertheless, we will look at what underwriters are generally considering when underwriting a cancer survivor. More importantly, we will also discuss the best time to apply if you’ve ever had cancer.
Completion of Treatment
The best time to apply for a policy depends on your completion of treatment for cancer.
The date of your completion of treatment is very important in the underwriting process. It helps determine if an underwriter will even consider your case.
For example, a company’s underwriting guidelines may be to decline an applicant if the completion of treatment is in the last five years. Now if you completed treatment two years ago and you apply for a policy, your application would be declined.
Your completion of treatment date will determine the best time for you to submit an application for insurance. This, however, may vary depending on the type of cancer you had. Therefore, let’s see how underwriting guidelines may vary based on the type of cancer.
Type of Cancer
The type of cancer you had is just as important as your completion of treatment date. Underwriting guidelines may vary based on the type of cancer. Let me give you an example to get a better understanding.
Let’s say a person had prostate cancer. A company may consider their case as early as 3 years after completion of treatment due to the guidelines for prostate cancer.
However, let’s say another person had breast cancer. That same company may consider their case as early as 2 years after completion of treatment. This is because the guidelines differ for prostate and breast cancer. Again, this is just an example of how it can vary.
Before you apply for a hybrid LTC insurance policy, it is important to consider this. If you fail to do so, it may result in a decline of your application. Applying too soon after your last treatment can hurt your chances of approval.
Now if you apply at the right time, your medical history would be further investigated for underwriting purposes. Let’s look at some of the other factors underwriters consider in regards to your medical history.
There are three things underwriters will normally look at in your medical history as a cancer survivor. Here they are:
- Grade of the tumor
- Stage of cancer
- Type of treatment you received.
These three factors are generally points of interest when the underwriters are reviewing your medical history as a cancer survivor.
1. Grade of Tumor
Now the grade of the tumor describes how similar cancer cells look to your healthy cells under a microscope. It is usually indicated by a number ranging from 0 to 4 and is an indicator of how quickly a tumor is likely to grow and spread.
According to the National Cancer Institute, if the cancerous cells resemble your healthy cells, it is considered a “low-grade tumor” or “well-differentiated.”
However, if the cancerous cells are abnormal-looking and lack normal tissue structures, it is considered a “high-grade tumor” or “poorly differentiated.” Underwriters will look for the grade of the tumor when looking at your medical history.
2. Stage of Cancer
Underwriters will also consider the stage of the cancer when you were diagnosed. The stage of the cancer is normally indicated by Roman numerals ranging from I to IV (1-4). Some cancers also have a stage 0.
The stage of the cancer indicates how far the cancer spread and the size of the tumor. According to the National Institute of Cancer, the higher the number, the larger the tumor is and the more it has spread into nearby tissues.
Also, underwriters will look to see if the cancer was metastatic. They want to know if the cancer spread to distant parts of the body as oppose to growing locally.
3. Type of Treatment
Another point of investigation for underwriters is the type of treatment. The type of treatment you received is just as important as the grade and the stage of the cancer.
There are various types of treatments for cancer. Treatments may depend on the cancer type and its stage. Treatments for cancer include radiation therapy, chemotherapy, immunotherapy, as well as surgery.
The type of treatment you received is considered pertinent information for the underwriter evaluating your application.
Let’s say an individual had a small tumor that was removed by surgery with no other occurrence. An underwriter will review that information, according to company guidelines, for underwriting purposes.
Having a medical history does not disqualify you from applying for hybrid long-term care insurance. However, it is in your best interest to work with an experienced agent. An experienced agent can direct you to the right companies that will consider your case.
At ChapmanInsuranceSolutions.com, we do our best to help you find companies that are willing to work with you and look on your case favorably.
If you or your loved one is a cancer survivor and you are interested in Hybrid Long-term Care insurance, Get a Free No Obligation Direct Quote or call us today at (800) 498-3955 so we may assist you!
Disclosure: This article is for information purposes only. It is NOT an all inclusive guide of underwriting guidelines, particularly for cancer survivors. Approval or declination of any application is subject to the sole discretion of the insurance company and its underwriters.