Let’s learn how breast cancer affects life insurance eligibility, premiums, and available options.
What is Breast Cancer?
Breast cancer is a type of cancer that originates from breast cells. In breast cancer, abnormal cell growth typically starts in the milk ducts or the lobules responsible for milk production. If left untreated, these cancer cells can invade nearby tissues and spread to other body parts, including the lymph nodes, bones, lungs, and liver.
While breast cancer can occur in both men and women, it is significantly more common in women. It has become one of the most common cancers affecting women in India. According to the latest data from the Indian Council of Medical Research (ICMR), breast cancer accounts for approximately 14% of all cancers in India, with an estimated 178,000 new cases diagnosed annually. The incidence of breast cancer is particularly high in urban areas, where lifestyle factors such as late marriages, delayed pregnancies, and hormone therapy use contribute to the rising numbers.
The survival rate for breast cancer in India varies significantly depending on the stage of the disease at diagnosis. Early-stage breast cancer (Stage 1) has a survival rate of about 90%, while advanced stages can lower this figure dramatically.
Can You Get Life Insurance After a Breast Cancer Diagnosis?
Yes, it is possible to get life insurance after a breast cancer diagnosis, but several factors influence eligibility. Insurers assess:
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Stage and Severity: Early-stage cancer may have better approval chances than advanced-stage cancer.
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Treatment History: Completing treatment and the number of years since remission impact your application.
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Medical Reports: Regular follow-ups and stable health conditions improve insurability.
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Age and Overall Health: A healthy lifestyle and a good medical history increase your chances of securing coverage.
You can also buy term insurance for cancer patients from Policybazaar.
How does Breast Cancer Affect Life Insurance?
Life insurance is meant to financially support yourself and your loved ones, even in your absence. While some individuals with breast cancer can recover and live long, healthy lives, others may face more severe outcomes. In such an illness, the insurer may provide a life insurance policy such as term insurance, and insurers take these factors into account when underwriting policies.
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Limited Options
Not all insurers offer life insurance for breast cancer survivors, limiting their choices to specific providers. Some insurers may refuse coverage entirely if the cancer is still active or if it has metastasized to other parts of the body. Others might offer coverage with exclusions related to the cancer or a higher premium to account for the increased risk.
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Policy Eligibility and Underwriting Process
One of the first hurdles that breast cancer patients may face when applying for life insurance is the underwriting process. The underwriters assess various aspects such as health, lifestyle habits and financial and professional status to calculate how much risk you bear to their insurance pool.
If you prove to be a high-risk customer, the insurer may not issue the policy or provide a policy but charge slightly expensive premium amounts.
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Increased Documentation
If you are applying for life insurance after a breast cancer diagnosis, you would be required to provide extensive medical records, and the insurer will request additional documentation from your healthcare providers. Insurers typically want to know details such as:
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The stage of cancer (whether it was early-stage or advanced)
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The treatments received (surgery, chemotherapy, radiation, etc.)
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Time has passed since diagnosis and whether it is currently being treated
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Current health status (if there are any lingering side effects or complications)
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Higher Premiums
Even if you can secure life insurance after a breast cancer diagnosis, you may find that the premiums are significantly higher compared to someone without the illness. Since breast cancer can affect a person’s life expectancy, insurers often increase premiums to compensate for the possibility of a reduced lifespan or ongoing medical expenses.
Premiums are typically adjusted based on several factors, including how far the cancer has progressed and how long it has been since treatment. For example, if the cancer was diagnosed at an early stage and the person is now cancer-free with no signs of recurrence, the premium may be only slightly higher than normal. However, if the cancer was diagnosed at an advanced stage, required aggressive treatments, or there is a risk of recurrence, the premium increase could be more substantial.
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Policy Exclusions
Some insurers may exclude complete coverage if the breast cancer reoccurs. They may provide partial coverage that restricts comprehensive protection. In such cases, the policy may only offer partial coverage, which could significantly restrict the extent of protection available to the policyholder. While some treatment costs may be covered, others, such as those for advanced therapies or follow-up care, might not be included.
Symptoms of Breast Cancer
Recognizing the symptoms of breast cancer early is critical to successful treatment. In many cases, the signs are subtle, so regular screening, especially for women over 40, is crucial. The most common symptoms of breast cancer include:
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A lump in the breast or underarm is often the first noticeable symptom, though not all lumps are cancerous.
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Changes in the size, shape, or appearance of the breast could include one breast appearing larger or more swollen than the other.
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Pain in the breast or nipple: Persistent pain or tenderness could indicate cancer.
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Nipple discharge: Particularly if it is bloody or clear, any unusual discharge should be investigated.
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Skin changes: Sometimes, redness, dimpling, or skin puckering over the breast can occur.
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Swelling or redness in the lymph nodes: Especially in the armpits or near the collarbone.
Treatments for Breast Cancer in India and Their Costs
Treatment for breast cancer in India generally involves a combination of surgery, radiation therapy, chemotherapy, targeted therapy, and hormone therapy, depending on the stage and type of cancer. The costs can vary significantly based on the chosen treatment type and care facility.
Treatment Type |
Cost Range |
Surgery: |
- Mastectomy (removal of the entire breast)
|
₹1,00,000 - ₹2,00,000 |
- Lumpectomy (removal of tumour)
|
₹50,000 - ₹1,50,000 |
Chemotherapy |
₹2,00,000 - ₹5,00,000 |
Radiation Therapy |
₹60,000 - ₹2,00,000 |
Targeted Therapy |
₹1,00,000 - ₹5,00,000 |
Hormone Therapy |
₹20,000 - ₹50,000 per month |
Total Treatment Cost |
₹5,00,000 - ₹20,00,000+ |
Here is how cancer insurance can help in bearing these costs:
Given the high cost of breast cancer treatment in India, life insurance can provide critical financial support. Many life insurance policies, such as term insurance for women, offer a critical illness rider that can be added to a standard policy, covering expenses related to life-threatening diseases like breast cancer. This rider typically provides a lump sum payout upon diagnosis of a critical illness, which can then be used to cover medical costs such as surgery, chemotherapy, radiation, and even post-treatment care.
In the case of breast cancer, a critical illness rider can help ease the financial burden, especially for those who may not have the financial means to pay for treatment upfront. For instance, if a woman is diagnosed with breast cancer and holds a critical illness rider on her life insurance, the insurer may offer her a lump sum payout that can range from Rs 10,00,000 to Rs 50,00,000, depending on the policy. This amount can significantly offset the treatment costs, which may otherwise lead to a financial strain on families.
To Sum Up
While breast cancer may impact life insurance eligibility and costs, it does not mean coverage is out of reach. By understanding your options, comparing providers, and working with specialists, you can find a policy that meets your needs and provides financial security for your loved ones.