Insurance and Cancer Survival - Essay Example

There are some aspects that insurance companies often consider or those with cancer. These aspects include the type of cancer that an individual has and how far cancer has developed. Once the insurance companies have this information, the will write to a hospital or a doctor, inquiring of the medical details that may affect the individual’s policy. They may also ask the individual to have a medical examination before they issue the policy. Life insurance companies may not issue a policy that lasts two to three years after the cancer patient has recovered (Hewitt & Ganz, 2006).

When they issue the first policy, the first premiums are usually high since that is the period that the insurance company has the greatest risk. Most cancers have lower risks of coming back when more time goes. The cancer patient often has to talk over the case with their insurance company, which can explain how it will personally affect the cancer patient. Some insurers provide this, but not all of it. This means that the cancer patient can increase the cover without underwriting, considering some events that take place in his life, for example, moving house, marriage or birth of a child.