The 8 Best Life Insurance for Cancer Patients

  • Colonial Penn: Best for Low-Risk Cancer
  • Mutual of Omaha: Best Overall
  • AIG Direct: Best for Guaranteed Issue
  • Globe Life: Best No Exam Option
  • Fidelity Life: Best For Patients in Remission
  • Haven Life: Best for High-Risk Family History
  • John Hancock: Best for Patients in Remission
  • AARP: Best For Guaranteed Issue

Colonial Penn: Best for Low-Risk Cancer

Colonial Penn offers guaranteed issue life insurance for cancer patients with premiums starting around $10 per month and acceptance through age 85. That’s not bad, but it’s not the main attraction here.

The main draw for some applicants is Colonial Penn’s simplified issue whole life insurance policy, which offers coverage up to $50,000 without the need for a medical exam. You will need to answer some basic health questions and may be excluded if you are currently undergoing cancer treatment or have recently gone into remission for a type of cancer that Colonial Penn considers life-threatening. But if you are approved, your rates will likely be lower than a comparable guaranteed issue policy.


  • Premiums and death benefits are locked for the life of the policy
  • Pay premiums monthly, quarterly, twice a year, or once a year
  • Available to applicants between the ages of 40 and 75 in most states
  • The Optional Life Benefit for Cancer Patients allows you to access up to 25% of your death benefit if you are diagnosed with any type of cancer other than skin cancer.

Mutual of Omaha: Best Overall

Mutual of Omaha offers cancer patients whole life insurance, affordable premiums, flexible coverage, and efficient claims handling.

Mutual of Omaha is the best overall life insurance provider for cancer patients. Cancer patients are eligible for whole life insurance, which comes with a number of benefits, including a cash value component. The only factors that will affect your coverage are your age, gender, and the death benefit you choose.

Mutual of Omaha offers a guaranteed issue whole life insurance policy available to cancer patients ages 45-85 (or ages 50-75 if you live in New York State). Coverage is automatically approved without a medical exam or health questionnaire.

In most states, you can choose a policy with a death benefit between $2,000 and $25,000. While her premium is affected by the amount of coverage she purchases, her rate will stay the same for the life of her policy, even as she ages.

When you’re cancer-free, you may also be eligible for term life insurance through Mutual of Omaha, which is available in 10-, 15-, 20-, and 30-year terms, with coverage up to $100,000 more. Mutual of Omaha also sells various types of universal life insurance.


  • Qualify for death benefits up to $25,000
  • Rates remain the same as long as the policy is in force
  • Open to applicants aged 45 to 85 in most states
  • Omaha’s Mutual Guaranteed Issue policies build cash value over time
  • If you have been in exemption for a few years, you may qualify for term life coverage with higher death benefits
  • Benefits never diminish due to health (including worsening cancer disease or new types of cancer) or age
  • If you die of natural causes (including cancer) during the first two years of your policy, your beneficiaries get all premiums you paid plus 10%

AIG Direct: Best for Guaranteed Issue

AIG Direct offers a guaranteed issue life insurance product that is suitable for cancer patients and those who have recently recovered from cancer. However, what really sets AIG Direct apart is its general lineup of survival benefits – optional riders that add value to your policy before you die. Two specific for cancer patients:

An accelerated death benefit rider that lets you claim up to 50% of your death benefit in life if you are diagnosed with a terminal illness including cancer.
A chronic illness rider that provides some financial benefit if you are diagnosed with a serious but non-terminal illness that affects your ability to care for yourself, including cancer


  • Policies include free illness riders
  • Death benefits between $5,000 and $25,000
  • Guaranteed level premiums for the policy duration
  • Medical exam and health questionnaires not required

Globe Life: Best No Exam Option

For many cancer patients, the only option of life insurance is a no-test policy, and with affordable premiums and no waiting periods, Globe Life is the provider we recommend.

Globe Life is the best life insurance provider for cancer patients who want to buy a policy without going through a traditional medical exam. Unlike other providers who only offer a simplified issue life insurance policy, Globe Life offers non-medical life insurance, senior life insurance and family life insurance, giving you more flexibility to choose the policy that suits your needs. Get.

With either policy, you can choose a coverage range of $5,000 to $100,000. Globe Life’s premiums are very affordable, with monthly rates as low as $3.49. Since medical exams are not required, the approval process is quick, and you can probably get coverage the day you apply. To get a quote, you need to fill out the online request form.

Another advantage of Globe Life is that the company offers a 30-day money-back guarantee. If you are unhappy with your policy for any reason within the first month, Globe Life will give you a full refund—no questions asked.

Note that Globe Life does not offer a guaranteed issue policy. Depending on the type and severity of cancer you have, it is possible that your application may be rejected, especially if you are older, smoke, or have a family history of the disease. We recommend speaking with an agent to make sure you are eligible before applying.


  • No Medical Exam Required, Anytime
  • Get coverage up to $100,000 in most states
  • 30-day money-back guarantee on all policies
  • Fast application and approval — often in the same day
  • Accelerated death benefit available for cancer patients with a terminal diagnosis

Fidelity Life: Best For Patients in Remission

Fidelity Life potentially offers suitable term and whole life options, as well as a guaranteed issue Rapid Decision Final Expense Policy if you do not qualify for the other options.

Illinois-based Fidelity Life offers a range of term, whole life and accidental death life insurance products. In 2019, it had $35 billion of life insurance policies in place and $422 million in net assets.

For standard policies, you must complete a medical questionnaire, but there is no physical exam. Your health determines your acceptance and premium. For people ages 50 to 85, Rapid Decision Final Expense coverage can provide almost instant coverage with no waiting periods.

Contact Fidelity Life to inquire about coverage after a cancer diagnosis. The online quote system does not have the ability to include any specific health information, only the option to rate your health from poor to excellent.

Guaranteed issue policies have neither physical examination nor medical questions. Using the online portal, a RapidDecision Life policy of $250,000 in coverage over a 20-year period would be $23 per month for a 30-year-old woman (which may vary by location).

Fidelity Life includes a terminal illness rider at no charge, which means you may receive early payment of some death benefits if you are diagnosed with terminal cancer.


  • Option for instant coverage
  • no medical exam option
  • online quotes

Haven Life: Best for High-Risk Family History

Although acceptance is not guaranteed, Haven Life is our best option for those with high-risk family history as it invites everyone to apply, regardless of health history. While the premium will be higher than that of healthy applicators, Haven offers a much cheaper price. They have a policy of immediate issuance without any medical examination which uses algorithms to make underwriting decisions.

Having a history of cancer in your direct lineage often means paying more for life insurance. But with Haven Life, you can get affordable coverage, irrespective of your family history. Policies start at just $13.45 per month for term life insurance and $15.75 per month for simplified issue life insurance. Remember that you are not guaranteed to be approved for simplified issue coverage, especially if you have pre-existing health complications.

Apart from affordable rates, Haven Life is a solid option for life insurance. The policies are written by MassMutual, one of the most reputed life insurance companies in the market. Haven Life policies come with equal premiums, an accelerated death benefit rider, and a free, non-binding look period.

We recommend Haven Life because the coverage is generous. Haven Term policies cover between $100,000 and $3 million for 10, 15, 20 or 30 years and Haven Simple policies cover between $25,000 to $500,000 for 5, 10, 15 or 20 years . So if you want to purchase additional coverage for added peace of mind, you can do so at no cost.

To get a quote from Haven Life, fill out the online form with information such as your age, state, birthday, your level of overall health, the amount of coverage you need and the length of your desired term. You can also submit your application directly on the website.


  • Terms with Heaven Simple range from 5 to 20 years
  • Coverage up to $500,000 with Heaven Simple
  • Optional accelerated death benefit rider available for people with terminal cancer
  • Coverage of up to $3 million with Haven Term, but may require a medical exam and recent cancer patients likely not eligible

John Hancock: Best for Patients in Remission

John Hancock offers a wide range of life insurance policies for people at all stages of life. While it doesn’t offer guaranteed issue coverage and thus isn’t ideal for people undergoing cancer treatment or have only recently been in remission, John Hancock has two things going for it that make it suitable for those Patients who have been in remission for some time and no longer qualify as cancer patients:


  • high coverage limit
  • Term and Universal Life Insurance
  • Offers a variety of online tools
  • Vitality program rewards you for a healthier life

AARP: Best For Guaranteed Issue

AARP is our best choice for Guaranteed Issue because they won’t deny coverage for pre-existing health conditions like cancer, and there are no medical exams or medical history questions.

AARP is a non-profit organization that aims to empower Americans over 50. Its life insurance policies are underwritten by New York Life Insurance Company, which has an impressive A++ rating with AM Best, indicating better financial stability.2

If you are over 50 and have become an AARP member, you can choose AARP Guaranteed Acceptance Life Insurance. This provides guaranteed acceptance, provided you are not seriously ill, and there is no need for invasive physical examination even if you have been diagnosed with cancer.

By using the AARP website, you can get a motif. The sample cost is $111 per month for a 50-year-old female, and $158 for a male, for a maximum coverage of $25,000. (Note that rates may vary by location.) One drawback is that you must pay for two years before your designated beneficiaries are eligible to receive benefits.

Your rates won’t increase once AARP approves you, and there are no more premiums after age 95 because of the “paid-up” benefit, which makes your coverage effective for the rest of your life without any additional payments. keeps.

There are also options to customize your policy with accelerated benefits and waiver of premium riders, but those who need coverage over $25,000 may need to consider other AARP policies with higher death benefits.


  • options without medical examination
  • online quotes
  • good credit

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