After all, how does life insurance work in cases of breast cancer? When hiring this type of service, it is essential to analyze that it takes into account your needs and your lifestyle. That is, the analysis carried out by those who received a diagnosis of breast cancer, for example, differs from those who do not have previous diseases.
This is because some plans may not cover pre-existing conditions, such as breast cancer. So, neglecting this criteria of shopping for life insurance can compromise coverage and leave your family members in the lurch.
Of course, that’s not the kind of situation you want to go through when shopping for life insurance, right? For this reason, we have prepared this post with a lot of information on the subject so that your decision is safer!
Why is it important to have life insurance?
As its name suggests, life insurance is a contract between a person and an insured company. It serves as an economic contribution to the dependents of those who subscribe to the plan, in the event of death or disability due to illness.
It’s the same logic applied to auto, property, or cell phone insurance. If an accident happens to them, the insured can provide compensation. Therefore, there are many benefits to having life insurance. Find out more details about them!
Financial support for dependents
Many people have economic dependents such as children, partner, parents, etc. Therefore, it is natural to fear that they will be left without financial protection, in the event of death or inability to work due to disability.
In view of this, life insurance is important to protect registered members. Thus, they can cover various essential expenses, such as education, health, housing, etc. Along with that, some plans also include funeral assistance, so dependents don’t have to deal with the costs.
Financial protection in cases of sick leave due to disability
Another common concern, especially for self-employed professionals, is financial support in cases of absence from work due to disability. That is, self-employed people can no longer be paid every day they are out of work.
Normally, the logic differs for professionals who work under a formal contract, as they tend to receive compensation from INSS. Thus, the self-employed with life insurance receive a value X for each day of sick leave.
Therefore, financial losses are minimized. This is even more beneficial given the medical expenses that will be added to the budget.
Reimbursement of medical and hospital expenses
Some life insurance plans have specific coverage for medical and hospital expenses, known as DMHO. Then, if you meet the criteria, you can be reimbursed for medical, hospital and dental expenses while you are receiving treatment.
Greater peace of mind for policyholders and their dependents
As mentioned, concern about maintaining financial security for yourself and your dependents is a common issue. This is even more delicate in periods of economic crisis, such as that accentuated by the Covid-19 pandemic.
Depending on the level of concern about financial problems, it can even increase the risk of various diseases. This is the case of burnout syndrome, anxiety, depression, hypertension and many others.
Can a person with breast cancer take out life insurance?
People with breast cancer can take out life insurance, but it depends on some particularities. First of all, this depends on the contracted plan, which varies according to the interests of the insurer.
But in general, most of them require contractors to fill out a Declaration of Health to report health conditions as pre-existing conditions. This serves as a guide for the insurer to report whether it meets the needs of the individual. If the answer is yes, the reported pre-existing condition helps define whether coverage is full or partial.
According to the National Health Agency (ANS), pre-existing diseases are those that the beneficiary or legal representative already knows at the time of contracting the plan. Lying about knowing this is considered fraud since the Declaration of Health is a legal document.
Then, it is possible to suspend the plan or renew the contract. After all, life insurance coverage should vary based on a person’s pre-existing conditions and grace period. If you omitted any information, it means that the insured must cover more than expected.
You have to admit this isn’t fair to her, right? To make matters worse, you also hurt yourself in this situation. After all, you may not receive the contribution and you have not found a plan that suits your needs. In other words, it’s like she needs to match you.
In addition to considering pre-existing conditions to define life insurance coverage, some contracts impose conditions. For example, in many cases, compensation is only provided if the patient is totally or partially disabled.
Thus, breast cancer can also be covered by insurance, since it can leave sequels that leave the woman with a disability. In view of this, present the insured with a medical report that proves the condition to guarantee the release of the benefit.
What precautions should you take before taking out life insurance?
You already understand that life insurance can cover diseases such as breast cancer. In any case, take a few precautions to ensure the best plan choice. The main ones are:
- Be aware of the grace period/period to enjoy the benefits: most plans stipulate 24 months for pre-existing conditions;
- hire plans that fit your lifestyle and that are aligned with the particularities of breast cancer;
- answer questions honestly so as not to risk termination of the contract;
- read the plan’s general terms and conditions to understand what they cover and what they don’t;
- analyze the insured capital, which is the maximum amount to be paid for the insurance.
Did you realize how important it is to be careful when taking out life insurance in cases of breast cancer or other pre-existing illnesses? Therefore, careful analysis is essential. In this sense, know that at WinSocial we offer what no other policyholder is capable of offering. We reward members for healthy behaviors, including those with health conditions they didn’t choose, like cancer.