LifeQuotes.com: Life Insurance Alternatives for Recovering Breast Cancer Patients

DARIEN, Ill., Oct. 14, 2014 /PRNewswire/ -- LifeQuotes.com, the life insurance price comparison service that offers instant quotes from 47 highly-rated life insurers and allows customers to buy from any company shown, today released the results of a new life insurance survey that confirms the widespread availability of life insurance at competitive prices for recovering breast cancer patients.

"We conducted a fresh survey in honor of Breast Cancer Awareness Month and the results show that a robust, competitive life insurance marketplace for breast cancer survivors," said LifeQuotes.com founder and CEO, Robert Bland.  "We hope that our findings will help families affected by this disease and perhaps clear up misinformation."

Assuming no other ratable health conditions, the chart of sample monthly premiums below reveals the best possible monthly prices for a 20 year, medically underwritten, level term life policy that covers death by any cause, at any time, in any place, except for suicide within the first two policy years (one year in some states).  The sample 20 year term life policy is also renewable, without evidence of insurability, to age 90+ and convertible to permanent insurance without having to undergo any further underwriting.

"The 20 year level term policy is the No. 1 most popular customer choice at LifeQuotes.com and so we felt that exhibiting available premiums for this policy would be informative," said Robert Goss, executive vice president.  "Rates on a ten year policy would cost less, while rates for policies with 25, 30 or lifetime rate guarantees would cost more," said Goss.

All of the sample premiums shown require a signed application, a paramedical interview, a review of the applicant's medical records, and acceptance as respects each company's individual underwriting guidelines.  "It's clear to see that high quality coverage is available to certain profile applicants at very attractive rates," said Goss.

Life insurers vary widely on how they underwrite and assess recovering breast cancer survivors, which underscores the importance of shopping around and in dealing with an agency that represents many companies:

• Look back periods ranged from two to 15 years from date of diagnosis or surgery, with most common being three years.
• While no company would award their absolute best "super preferred" rates, some would allow their next-to-best rates ranging from preferred to standard being the most common.
• Each applicant's medical treatment history and most recent pathology reports will be looked at closely.

Instant life insurance quotes, with viewable underwriting guidelines, are now available at www.lifequotes.com.  Customers can now quote and buy online in total privacy or obtain personalized service and attention from our licensed phone agents by calling (630) 515-0170.

"To better service the needs of customers who have serious illness histories, LifeQuotes.com has developed a private shopping service that enables us to anonymously submit applicant information to various life insurers on a private, informal basis to obtain preliminary opinions as to acceptability and rates," said vice president Michelle Zieba.  "The advantage of this unique system is that it preserves the privacy of the applicant and is not considered by the industry to be a formal application."

Survey Methodology

During the period of October 1 through October 15, leading life insurers were polled as to how they underwrite breast cancer survivors.  Life insurance policies described, quoted, shown and illustrated throughout this press release may not be available in all states.  Policies examined include American Continental Insurance Company, Brentwood, TN, policy form ACIFE01732; American National Insurance Company, Galveston, TX, policy form ART 12; Banner Life Insurance Company, Urbana, MD, policy form ICC08-LIA, and William Penn Life Insurance Company, Garden City, NY, policy form LIA-WP, both Legal & General America companies; Companion Life Insurance Company, Hauppauge, NY, policy form LAP1099, and United of Omaha Life Insurance Company, Omaha, NE, policy form LAP1099, both Mutual of Omaha affiliate companies; Fidelity Life Association, A Legal Reserve Life Insurance Company, Oak Brook, IL, policy form F4000; Genworth Life and Annuity Insurance Company, Lynchburg, VA, policy form 1420(96); The Independent Order of Foresters, Buffalo, NY, policy form ICC13 770620 US 10/13; Lincoln Life & Annuity Insurance Company of New York, Syracuse, NY, policy form LEF06321-18_7-10, and The Lincoln National Life Insurance Company, Fort Wayne, IN, policy form LEF06321_5-12, both insurance company affiliates of Lincoln National Corporation, whose marketing name is Lincoln Financial Group; First MetLife Investors Insurance Company, New York, NY policy form 1E-23-12-NY, MetLife Investors USA Insurance Company, Irvine, CA, policy form 5E-23-12 and Metropolitan Life Insurance Company, New York, NY, policy form 1E-23-12-NY, all three members of the MetLife family; North American Company for Life & Health Insurance, Chicago, IL, policy form LS174; Protective Life and Annuity, Birmingham, AL, policy form TI-15; Pruco Life Insurance Company of New Jersey, Newark, NJ, policy form ORD 96200-2010,  member companies of Prudential Financial, Inc., Newark, NJ; Reliastar Life Insurance Company, Minneapolis, MN, policy form 1315-02/10, Reliastar Life Insurance Company of New York, Woodbury, NY, policy form 3314-02/10; The Savings Bank Life Insurance Company of Massachusetts, Woburn, MA, policy form A91-OSV (SBLI and The No Nonsense Life Insurance Company are registered trademarks of The Savings Bank Life Insurance Company of Massachusetts, which is in no way affiliated with SBLI USA Mutual Life Insurance Company, Inc.); Starmount Life Insurance Company, Baton Rouge, LA, policy form ICC13-35-001; Transamerica Financial Life Insurance Company, Harrison, NY, policy form 3-304 38-111 and Transamerica Life Insurance Company, Cedar Rapids, IA, policy form 1-304 11-107, both AEGON companies; United Farm Family Life Insurance Company, Indianapolis, IN policy forms 18-376, 18-466; United Home Life Insurance Company, Indianapolis, IN policy forms 200-379, 200-466.

About LifeQuotes.com
LifeQuotes.com operates an Internet-based life insurance exchange at www.lifequotes.com.  The company also provides private label, co-branded life insurance technology and fulfillment services to insurance companies, financial institutions, affinity groups, banks, credit unions, property & casualty agencies, trade associations and other affinity groups with large customer bases.  The company's proprietary technology provides instant quotes and illustrations from 47 leading life insurers and enables a quick, paperless  purchase process .  More than 300,000 people have purchased policies through LifeQuotes.com since the firm's founding in 1984.  Visit lifequotes.com for more information or to experience the life insurance quoting experience online.

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