Choosing the right life insurance over 60 policies are important especially today. Everyone needs insurance; it’s just good sense and its wise because you never know what could happen. However, for many who currently hold life annuity policies, they are so concerned about what happens to these policies when they are diagnosed with cancer. So, what happens when this happens?

What Happens With Term Insurance

What Happens Under My Life Annuity Policies If I Am Diagnosed With Cancer?

What Happens Under My Life Annuity Policies If I Am Diagnosed With Cancer?

If you are diagnosed with cancer and there is a very small chance that you will life past twelve months then, term insurance can pay out the value of your policy. There is no need to wait until someone passes on before this type of policy can come into effect however, if you want to be paid before that time, it may be tricky. Some insurers want to actually be sure that the life span isn’t longer than twelve months and they may contact your doctor to decide whether to pay out now or later so you need to check your Seattle cancer life insurance policy.

Having Income Safety Insurance
Income safety insurance can be paid out if you or someone who holds these policies find it hard to deal with day to day living. This can also be paid out if you need further treatment or therapy and have no funds to pay this. Again, this may not be payable outright as a verdict needs to be made about your healthcare needs. If you have this type of life insurance over 60 and are need of the cash then it can be paid out for therapy or treatment.

Having Trauma Insurance
Insurance companies are not always willing to pay out insurance right away especially if the policy holder has years to live. Sometimes, those who aren’t terminal and have the option to fight cancer may not be eligible to get a pay out at the present moment. However, it can all vary from time to time especially if the patient is in remission or is currently fighting cancer. Seattle Cancer life insurance can be tricky at times to understand.

  •  The Type Of Cancer You May Be Suffering From
  • What The Life Span Of The Cancer Sufferer May Be

These two factors can have an impact over whether or not the policy can be paid out now or in the future. Of course, let’s just say for a moment that you or someone close to you didn’t have years left but rather months; if this was confirmed by the doctor, the insurance could be paid out now. However, if the cancer was terminal and you have several years left, the insurers may take a while to determine if you can get insurance paid out now. Life insurance over 60 can vary but if you are over 60 and you have cancer, it may pay out sooner.

Policies Differ but They Can Pay Out After Diagnosis

Every insurance policy is different so some may not instantly pay out until after death and some may pay out now; however, if your policy doesn’t cover cancer related deaths then there may be no payouts at all. However, in most cases, if you have annuity or different policies which deal with terminal illnesses or life threatening illnesses, they can pay out when they get doctors confirmation. Usually, there aren’t many problems that come with Seattle cancer life insurance.

Source: http://incomeprotectioninsuranceaustralia.blogspot.co.uk/2011/04/what-happens-under-my-life-annuity.html