• In case you arent aware, do not let your life or health insurance lapse while you are in treatments or recently done with them

    Asked by Coloman on Saturday, January 11, 2020

    In case you arent aware, do not let your life or health insurance lapse while you are in treatments or recently done with them

    You will not be able to get new insurance for several years after treatment ends and then the options are few. I recently had a conversation with a fellow cancer patient who thought she could drop an expensive life policy and pick up a new one with another company. NO.....That would be sort of like waiting to buy homeowner's insurance until your house is on fire.

    Check all your policies and make sure they are current and put them on auto-draft pay so you don't forget them.

    4 Answers from the Community

    4 answers
    • GregP_WN's Avatar
      GregP_WN

      This is a common misunderstanding by a lot of people. You cannot, as a general rule, buy life or health insurance after you have gotten sick. After you finish treatment and are clean for a number of years, you may be able to obtain insurance then. Sometimes riders will be placed on the coverage not paying for future cancer expenses. I was able to purchase a cancer policy, health insurance, and life insurance after 10 years.

      11 months ago
    • alivenwell's Avatar
      alivenwell

      I had life insurance since I was in my 20s. I thought of cashing it in for a good time. Maybe not.

      11 months ago
    • lo15's Avatar
      lo15

      We had to let my husbands go when he retired as it was thru his company. Lesson learned no matter what you have thru work, buy some privately

      11 months ago
    • alivenwell's Avatar
      alivenwell

      For any life insurance where you're financially strapped, do not drop your policies but rather see if any dividends are available for you to collect. One phone call can make a difference.

      11 months ago

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