LifeTrust determines eligibility by using two criteria. It is also important to note that the client must be the qualifying cancer patient and the insured on the existing lifeinsurance policy.
Your existing life insurance policy
There are several factors regarding life insurance policies that are required for eligibility.
- You must have one or more life insurance policy that is beyond contestability, (generally two years from the issue date).
- Your life insurance policy must be assignable.
- Most life insurance policies meet the LifeTrust requirements regarding a high claims paying solvency rating.
- Individually owned policies and group coverage are typically acceptable.
- Your life insurance policy does not need to have cash or surrender value.
A qualifying cancer diagnosis
Each case is medically underwritten based on the type and stage of cancer the treatments that have been tried and failed and other prognostic indicators.
- Not everyone diagnosed with cancer will qualify.
- Generally, when certain cancers recur, develop distant metastases or become refractory to treatment this would suggest eligibility.
- To determine your eligibility, independent oncologists conduct a confidential review of your existing medical records.
- For those with a projected remaining life expectancy exceeding five years, they may not currently be eligible.