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What now getting insurance as I have just been diagnosed with Prostate Cancer

September 23, 2018



Receiving a diagnosis of Prostate Cancer can be daunting and can happen to any male; in fact, it can be as high as 1 in 7.  It’s not an old man’s cancer, as Danny who is only age 39 tells us.  If you’ve survived cancer, you and your family should not go unprotected, even if you face higher premiums or an Exclusion Clause.


Introduction to Prostate Cancer

So, what really is Prostate Cancer, check out this short video.  Like with all cancers, the grading & staging is critical to whether insurance can or cannot be offered – if you would like to know more, click HERE.

In summary, abnormal PSA levels in your blood throw up “red flags” for insurers, even though these can be unreliable.  It’s a substance found in semen and/or in the blood and most healthy men have levels under 4 ng/mL.  Higher is seen as a potential reason to request a biopsy.


What will the insurer want to know?

To decide whether or not they can offer you any type of insurance, here are some of the questions they will want answers to:

  • When were you first diagnosed with prostate cancer? 

  • What stage was/is your cancer, or what was your Gleason Score?

  • What was your last date of treatment? 

  • How was the prostate cancer treated?

  • Are you currently being treated? 

  • What was the date and result of your last PSA assessment? 

  • What was your PSA records prior to treatment?

  • Do you have any major health issues other than prostate cancer?


Providing a copy of your Cancer Specialist’s notes as well as the Histology Report will speed up the process.



What can I expect?

Most insurers will postpone offering cover for a period of time after you have completed prostate cancer treatment.  This waiting period can range from 6-24 months, depending on the type of treatment you choose and how aggressive your cancer was beforehand.  For radical prostatectomy patients, the wait may be shorter than for radiation therapy. 

If you’re a Prostate cancer survivor and have a good prognosis and outlook from past treatment, insurance will be available after the waiting period mentioned above.  It’s really up to your Specialist and you provide sound evidence you’re now in good health.


What if I can’t get cover?

Firstly, if you work for a large employer and they offer staff insurance through a Group Scheme, you will be able to get unrestricted insurance covers up to the limited amounts.

Alternatively, some insurers offer life insurance cover where no claims will be paid until the policy has been in-force for 2 or 3 years old.  The amount is up to $50,000 so this is another option you should consider.  Some cover may be better than none at all!


 

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