Breast Cancer Underwriting
You may have read the announcement by Hartford Life Insurance that they were improving their underwriting guidelines for breast cancer survivors. You can find the full article on The Hartfords website, below is the jist of it. I will provide additional details when available. My initial thought is that this will be a good thing as most stage 1 cancers are charged the standard rate plus an additional 50-100%, plus an additional $7.50 -$10.00 per every thousand dollars of coverage.
Under The Hartford's new underwriting guidelines, individual life insurance policies are available at standard rates to women who have been treated for the first time for small (1 centimeter or less), well differentiated, localized Stage 1 breast cancer and have a strong prognosis for survival based on the results of common tests.
The Hartford's innovative life insurance underwriting guidelines for breast cancer are in effect for variable universal life, universal life, whole life and term life insurance policies issued by Hartford Life Insurance Co. and Hartford Life and Annuity Insurance Co., subsidiaries of The Hartford.
"Because the outlook for those with breast cancer is so much better today than in the past, The Hartford became convinced that we could also do better in underwriting people with breast cancer," said Dr. Ann Hoven, chief medical officer for The Hartford's Individual Life Division.
"The Hartford based its new underwriting criteria for breast cancer on past experience as well as expectations of continued improvements. We wanted to take a forward-looking approach and make a difference with our actions, call attention to the importance of early detection and enhanced treatment."
Up to 15 percent of those treated for Stage 1 breast cancer in the past five years - more than 100,000 women - would be eligible for life insurance policies at standard rates, Hoven said. Other applicants may continue to buy life insurance but at higher rates.
Update - Prudential just released updated underwriting guidance as far as breast cancer is concerned. We are appointed to represent Prudential and can offer you quotes from Prudential as well as many other companies.
Under The Hartford's new underwriting guidelines, individual life insurance policies are available at standard rates to women who have been treated for the first time for small (1 centimeter or less), well differentiated, localized Stage 1 breast cancer and have a strong prognosis for survival based on the results of common tests.
The Hartford's innovative life insurance underwriting guidelines for breast cancer are in effect for variable universal life, universal life, whole life and term life insurance policies issued by Hartford Life Insurance Co. and Hartford Life and Annuity Insurance Co., subsidiaries of The Hartford.
"Because the outlook for those with breast cancer is so much better today than in the past, The Hartford became convinced that we could also do better in underwriting people with breast cancer," said Dr. Ann Hoven, chief medical officer for The Hartford's Individual Life Division.
"The Hartford based its new underwriting criteria for breast cancer on past experience as well as expectations of continued improvements. We wanted to take a forward-looking approach and make a difference with our actions, call attention to the importance of early detection and enhanced treatment."
Up to 15 percent of those treated for Stage 1 breast cancer in the past five years - more than 100,000 women - would be eligible for life insurance policies at standard rates, Hoven said. Other applicants may continue to buy life insurance but at higher rates.
Update - Prudential just released updated underwriting guidance as far as breast cancer is concerned. We are appointed to represent Prudential and can offer you quotes from Prudential as well as many other companies.
posted by Life insurance specialist at 11:20 AM
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