If you’re dealing with a second cancer diagnosis, you’re likely facing not only a new wave of medical decisions but also mounting financial concerns. Selling a life insurance policy after a cancer recurrence is one option that many people are unaware of, but it can offer substantial relief during a difficult time. A life settlement allows you to access the hidden value in your life insurance policy and receive a cash payout, which can be used for treatment, caregiving expenses, or simply to maintain your quality of life.
Unlike a policy loan or surrender, a life settlement can result in a significantly higher payout, especially for individuals whose health has changed. A recurrence of cancer often signals a more serious prognosis, which is a major consideration for life settlement purchasers.
Why a Cancer Recurrence May Qualify You
Many policyholders are surprised to learn that they didn’t qualify for a life settlement during their initial cancer treatment, but may now be eligible after a recurrence. Life expectancy is one of the primary factors evaluated in the settlement process. If your cancer has returned, spread to new areas, or stopped responding to standard treatments, your eligibility for a life settlement may have increased.
Life settlement providers typically consider:
- The type and stage of cancer at recurrence
- Whether the cancer is localized or metastatic
- Current and past treatment history
- Your age and overall health status
- The size, type, and premiums of your policy
Cancers Commonly Considered for Life Settlements After Recurrence
While nearly any cancer type may qualify in advanced stages, some are particularly likely to be eligible when recurrence is involved:
Breast Cancer
Those facing recurrent estrogen receptor-positive breast cancer, especially with spread to the bones, liver, or brain, may be undergoing advanced treatment regimens such as Ibrance (palbociclib), Kisqali (ribociclib), or capecitabine. These patients often meet life settlement criteria due to reduced long-term survival rates.
Lung Cancer
Recurrent non-small cell lung cancer (NSCLC) or small cell lung cancer (SCLC) with limited treatment response or progression despite targeted therapy (e.g., Tagrisso, Alecensa) or immunotherapy (e.g., Keytruda, Opdivo) is typically eligible, particularly in cases with metastasis to the brain or adrenal glands.
Colorectal Cancer
If colorectal cancer returns after surgery or chemotherapy, especially with metastasis to the liver or peritoneum, and treatment includes drugs like Avastin, Lonsurf, or second-line chemotherapy, eligibility for a life settlement is likely.
Prostate Cancer
Men with recurrent or metastatic prostate cancer that has progressed despite hormone therapy (often requiring Xtandi, Zytiga, or chemotherapy) may meet the medical criteria for a life settlement, particularly when bone metastases are present.
Ovarian Cancer
Patients with platinum-resistant ovarian cancer undergoing treatment with Doxil, Lynparza, or bevacizumab are often facing a challenging prognosis and may benefit from unlocking the value of a life insurance policy.
What You’ll Need to Get Started
The process begins with an evaluation. You’ll need to provide:
- A copy of your life insurance policy
- An in-force illustration (provided by your insurance company)
- Recent medical records showing your diagnosis and current condition
- A list of current medications and treatment plans
These details help providers assess your eligibility and determine a fair market value for your policy.
How the Funds Can Be Used
There are no restrictions on how you use the proceeds from a life settlement. Many individuals use the funds for:
- Specialized or out-of-network cancer treatments
- Clinical trial expenses
- In-home caregiving or hospice services
- Travel to top cancer centers
- Everyday living expenses
- Reducing debt or supporting loved ones
A cancer recurrence is difficult enough without the added weight of financial uncertainty. A life settlement can give you back some control and allow you to focus on what matters most.
Selling a life insurance policy after a cancer recurrence is a path worth considering for those who need access to cash during a time of escalating medical costs and personal stress. If you or someone you care for is facing a second cancer diagnosis, it’s worth exploring whether your policy can offer more than peace of mind. It could provide meaningful financial relief when it’s needed most.
To learn if you qualify and for a no-obligation policy appraisal, please give us a call today. 800-727-7654