At Rate Detective we have had a number of clients that have called up to try to secure life insurance when they have been diagnosed with cancer.
Life Insurance generally is best to take when you are fit and healthy, but if you have been diagnosed with a serious medical condition, such as cancer, there are some options you might wish to consider that work like life insurance.
Funeral cover pays a lump sum payment up to $50,000 depending on your age and gender. The payment goes to the beneficiaries and can be used for whatever purpose required.
The advantage with funeral cover is that it is not medically underwritten so your current medical condition is not taken into account when you complete an application and is not taken into account come claim time either. The only clause is that the policy holder cannot claim within the first 12 months of taking out the policy. Put simply, the policy holder must survive more than 12 months for the payout to occur. If the policy holder dies within the first 12 months all premiums are refunded.
Some funeral plans also pay three times the nominated benefit amount if death occurs by accident and not by sickness. You can cancel funeral cover plans at any time as well at no cost. We have had many clients who have recovered from cancer and after being in remission for more than 5 years. We have managed to secure a life insurance policy (which is generally cheaper than a funeral cover policy).
If you are interested in finding out more about Funeral cover then put in your contact details on this page or visit our funeral cover website www.funeralcover.net.au and put in an inquiry. One of the Rate Detective consultants will get back to you within 24 hours to discuss.