Top 10 health hazards for life insurers
Although the word "cancer" on an application form will flag any life insurance underwriter, its ultimate effect on an applicant's rate class can vary from negligible to substantial.
Just as each cancer is individual, every insurance company will underwrite it differently. For instance, Bloom says New York Life might take six months to a year to monitor some applicants before writing a policy, depending on the location of the cancer, the staging and type of treatment involved.
"We do underwrite cancers," Goldstein says. "There are many, many cancer histories that can be favorably underwritten and some that possibly could be preferred."