Best Life Insurance For Prostate Cancer Survivors

Prostate cancer is one of the most common cancers in men, and life insurance companies evaluate thousands of applications from prostate cancer survivors every year. While the diagnosis does affect underwriting, many applicants qualify for affordable coverage once treatment is complete.

If you’ve been diagnosed with prostate cancer or treated for it in the past, this guide explains how life insurers evaluate high-risk applications, and what steps you can take to get the best life insurance policies based on your prostate cancer history.

Life insurance companies evaluate prostate cancer primarily based on your long-term survival, and underwriters look at several medical factors to determine your risk.

The most important underwriting considerations include:

In general, early-stage prostate cancers that are treated successfully and monitored with stable PSA levels present a lower long-term risk for insurers.

Applicants who had localized prostate cancer (up to stage T2b) may qualify for standard and possibly standard plus life insurance rates within 3-12 months after treatment. More aggressive prostate cancers require longer postponement periods and may include a flat extra and/or a table rating.

Here’s what we need to know about your prostate cancer history to find you the best companies and rates.

• When were you diagnosed with prostate cancer?
• How was the prostate cancer treated? (surgery, radiation, active surveillance)
• What stage was the prostate cancer?
• What was the Gleason Score?
• What was your PSA level at the time of diagnosis?
• What is your current PSA level?
• If you had surgery, were the margins negative/clear?
• If you had radiation, what type of treatment did you receive?
• If you are in active surveillance, do you have all PSA test results available?
• Did you have hormone therapy? If yes, was it before or after treatment?
• Has there been any recurrence of cancer?

The more detailed and accurate the information is, the better we’ll be able to help you find the best companies and rates.

Your cancer history and treatment path play a significant role in your life insurance approval. Here’s how different treatment options affect your rates.

A radical prostatectomy is one of the most common treatments for localized prostate cancer. When surgery successfully removes the cancer and PSA levels remain undetectable afterward, life insurance companies view the long-term prognosis favorably.

Life insurance is available in as little as 3 months after surgery if you meet the following criteria:

• Diagnosed at age 60+
• PSA ≤ 10 before surgery
• Cancer stage T2b or lower
• Gleason score 6 or lower
• PSA undetectable (<0.2) after surgery
• Negative surgical margins

Standard Plus rates may be available. For those who don’t meet the above criteria, the postponement period is typically 12 months after surgery.

Radiation therapy is another common treatment option, including external beam radiation or brachytherapy (radioactive see implants).

The postponement period is generally 12 months from the completion of radiation, assuming your PSA level has gradually decreased over time and remains stable at the time of application.

Life insurance companies look for:

• Diagnosed at age 60+
• PSA ≤ 10 before treatment
• Cancer stage T2b or lower
• Gleason score of 6 or below
• PSA <0.2 after radiation

Standard Plus rates may be available. If you do not meet the above criteria, life insurance may still be available, but it will be more expensive.

If your PSA level is increasing, that may result in a postponement or decline.

Some localized prostate cancers are monitored via active surveillance rather than immediate treatment. In the past, active surveillance was primarily used for men aged 60 and older, but more recently, we have seen an increase in the number of men under age 60 using it.

Improvements in monitoring and genetic testing have allowed more active surveillance cases, but can make life insurance tricky, to say the least.

The postponement period is typically 3-5 years from the diagnosis date, after which companies will consider coverage.

Ideal active surveillance cases have the following characteristics:

• Diagnosed at age 60+
• Stage 1 (T1a) cancer
• Gleason score 6 or lower
• PSA ≤10 and stable for 12+ months
• Regular PSA testing every 6-12 months

You must have consistent PSA monitoring, biopsies periodically, and be well followed by your oncologist.

Hormone therapy is used in more advanced prostate cancer cases and is considered an unfavorable factor with life insurance underwriting.

Secondly, the timing of hormone treatment matters. Treatment before surgery is considered more favorable than hormone treatment received after a radical prostatectomy.

Postponement periods typically run 3-5 years after completion of treatment.

Can You Qualify for a Preferred Rate?

3 companies may consider a preferred rate after an extended time since the treatment. Those companies are Prudential, John Hancock, and Symetra. While it’s possible with these companies, it’s very unlikely to happen.

Some companies are better at prostate cancer than others. Working with the right company can significantly improve the chances of approval.

Prudential – Prudential has consistently been one of the best prostate cancer companies for years. They offer coverage as soon as 3 months after surgery. Most companies require 12 months.

Lincoln Financial is another aggressive company that consistently offers standard rates and is the best option when your Gleason Score is 7.

Protective Life – Protective has been a top company with its rates and underwriting when you are age 70 or older with a stage 1 prostate cancer history.

Other companies that are competitive from time to time include Banner Life, John Hancock, and Symetra.

We use a quick quote process to shop all companies for underwriting offers. It takes 2-3 days to hear back from all companies, and at that time, we’ll let you know which company is best for you.

Note – If Gleason is 7 or higher or surgical margins were positive, expect a 12-month waiting period.

Here are the top reasons men get denied life insurance:

• Applying Too Soon – before the waiting period ends.
• Choosing the Wrong Company – Not all insurers specialize in cancer cases.
• Incomplete Medical Records – Missing checkups, PSA tests, etc., will derail your app.
• Other Health Conditions – Significant health conditions such as a heart condition, diabetes, or gastrointestinal conditions may contribute to a decline.

A denial doesn’t mean you can’t get coverage. Most men who are declined either applied too soon or picked a company that’s not open to prostate cancer cases.

I’ll review your case, contact the best life insurance companies for prostate cancer, and provide feedback, often without requiring a full application. It takes about 3 days to get feedback from the most competitive companies.

Final Thoughts – Life Insurance is Possible With Prostate Cancer

• Approval is possible – even if you’re still managing prostate cancer.
• Your treatment history, PSA levels, and timing all matter.
• Picking the right insurer can save you thousands.

Don’t risk another denial or an overpriced policy.

Request a personalized, no-obligation quote today. Let’s find the best coverage for your situation.

Sources for This Article

• Prudential Financial, Inc. (2017) Prostate Cancer [PDF file]
• Lincoln National (2020) Prostate Cancer Life Insurance Application Result
• Prudential Financial, Inc. (2016) Good News for Clients Treated for Cancer [PDF file]
• John Hancock Insurance (2018) Field Underwriting Guide – Your Guide to Underwriting Impairments, Part II Pg. 23 [PDF file]
• Prostate Cancer Foundation