Archive for August 27th, 2007
I know when my father was undergoing radiation treatment for his bladder cancer, I was amazed at the computerized system they had for aiming the radiation exactly where they needed it. One of the down sides to the whole system is the fact that, inspite of the best effort on the part of the patient and doctor, movement can occur. When precision is a necessity, movement is the enemy.
There is now a system being used in the treatment of prostate cancer that can make automatic adjustments to compensate for small movements. Hopefully this type of system will be available for larger target cancers before long.
It is innovations like this that will make treatment more effective and anytime treatment is more effective, the end result is more acceptable to a life insurance underwriter.
Of course radiation is just one option for prostate cancer treatment. Depending on the aggressiveness of the cancer when it is diagnosed, determined by the stage and grade of the cancer, the treating physician may recommend a radical prostatectomy (removal of the prostate), radioactive seed implant, radiation (as described above), or hormone therapy. An option that is being looked at more frequently with older men is to just watch and wait . In many cases, no treatment is OK as long as the cancer is in a fairly slow progression mode. In all likelihood, the patient would not succumb to the cancer, but at an advanced age, would pass away from some other cause.
Bottom line. Get regular checkups that include a prostate exam and psa test. Keep copies of all test results if you are diagnosed with prostate cancer, or really with any type of cancer. Those test results are invaluable when your independent agent is shopping for competitive life insurance rates.
August 27th, 2007
I kind of like those cholesterol med commericals on TV. “Is it from bow tie pasta, or your Uncle Bo? Well, family history has been a bone of contention in life insurance underwriting for some time and companies have been all over the map with their treatment of the issue.
I’ll just offer this scenario and a real life underwriter response just to kind of pave the way for the logic of it all. Let’s say your father died at age 59 of a lung cancer. He was obese, smoked heavily since he was a teenager, and drank whenever there wasn’t a cigarette in his mouth. You on the other hand, because of your father’s example, have never smoked, never drank, exercise regularly and wouldn’t be overweight on anyone’s build chart.
Most companies out there will bump you down two rate classes due to family history. The underwriter’s logic! How do we know that your father, and possibly you, are not genetically predisposed to cancer? We have to err on the side of genetic caution. No, I am not making it up. That is really the thought (or lack of) process that they go through.
Lights at the end of the tunnel? Reliastar doesn’t rate for family history of cancer. If you are over age 60, West Coast Life will not hold family history prior to age 60 against you, and Prudential, in the scenario above, will not rate you because you avoided the cause of your father’s demise. They only do that with lung cancer, but there are a lot of people out there right now who are paying way too much for their life insurance. An independent agent is the answer when you run into family history problems. It takes a number of companies to narrow down the best rate for a particular family history situation.
Family history of heart disease is a little more problematic, but still a good agent can keep it from affecting you or at least minimize the impact to one rate class. Again, the shining star in my mind is West Coast Life. If you are over 60 and the death due to heart disease happened prior to 60, it’s out. Several companies will allow their 2nd best rate with just one heart related death prior to 60, and I have seen exceptions made when the parent’s death was relatively early and the person applying for insurance has had cardiac evaluations to show that they are a good risk.
Bottom line. Family history doesn’t have to ruin your chances for good life insurance rates. If you have a family history of death due to cancer, heart disease, or diabetes prior to age 70, find an independent agent.
August 27th, 2007
I know when a serious health problem strikes a family member it seems as if the world is crumbling. There is a deep need for a life buoy of some kind out there that will take some of the edge off of the situation. This is the point at which I get many calls wanting to know if life insurance can be purchased.
For many that life buoy is attainable, usually after a waiting period. Life insurance underwriters want to see, in situations like diabetes, heart attacks, etc, some period of stability and control before they are willing to offer a life insurance policy. I remember a man who called one day asking about life insurance. Everything was going along just fine until we got to the health questions concerning heart disease. He admitted that he had recently had a 2 vessel angioplasty. Actually, very recently…as in the day before. He was still in the hospital. Realistically, the underwriter will want to see a longer period of recover and control.
In some cases there really isn’t anything we can offer but support and information. Depending on which type, a diagnosis of cancer, once treated and cured, will bring a waiting period of a year to five years or more before insurance, other than guaranteed issue insurance, can be written.
With some forms of cancer that are known for their aggressiveness and tendency to come back, there really is no option other than guaranteed issue.
Bottom line. The discussion of and the call to acquire life insurance is best made when everyone is healthy and happy. Calling at the wrong time and hoping that life insurance is going to be the one thing that went right this week is really just wishful thinking. I’m not saying not to make the call. Just be open to what your options really are.
August 27th, 2007
