There isn’t any exclusion in most standard life insurance policies against death resulting from breast cancer. Death from cancer is the sort of thing that life insurance is designed to cover.
However, life insurance does not pay for any medical treatments for cancer.
The cash value which may accumulate over time inside a permanent life insurance policy can be borrowed to help pay for medical expenses.
In addition, some life insurance policies have accelerated death benefits which means if the insured person is diagnosed with a terminal illness which is expected to take the person's life within 12 months, a portion of the death benefit may be paid out while the insured is alive, to help pay for medical expenses. The amount you receive from your life insurance death benefit while still alive will reduce the amount paid out to your beneficiary upon your death.
If you have purchased the life insurance prior to being diagnosed with breast cancer, yes you are covered. If you have had breast cancer and looking to purchase life insurance there are some things you need to know.
The type of life insurance, amount of coverage, and terms, depends on the cancer itself and how long you have been cancer free after your last treatment.
To get into the standard ratings for life insurance after breast cancer practically all life insurance carriers will want to see you cancer free for 10 years. Anything less than 10 years will be a higher risk life insurance policy of either rated (higher) premiums or graded benefits.
Learn more about life insurance for cancer survivors and how to compare life insurance plans and pricing online.