The Hartford is First to Offer Life Insurance

With more men survived prostate cancer, the cost of life insurance becomes affordable for men successfully treated with radiation

Simsbury, Conn. - Nearly 186000 American men will be diagnosed with prostate cancer this year. While this is a diagnosis that nobody wants to hear, the chances of surviving prostate cancer and live a full life are much better than they used to be. Thanks to early detection and improved treatment options, 93 percent of men diagnosed with prostate cancer now live at least ten years. That compares with only 50 per cent in the decade from 1980, according to the National Cancer Institute.

In response to the improved prognosis, The Hartford has become the first insurer in the nation to offer life insurance at standard rates to men who have been successfully treated with radiation to moderate levels of prostate cancer. In the past, these survivors often had to wait several years to be eligible to buy life insurance and even then he had to pay much more for their coverage of up to five years.

“We have identified prostate cancer as a disease that has become much more treatable in recent years and concluded that we can begin offering life insurance to men who want more,” said Brian Murphy, executive vice president The Hartford and director of the division of individual life.

Under Hartford The subscription of new guidelines, standard rates are available for men 70 and older who have been treated with radiation for moderately aggressive prostate cancer. The cancer must be confined to the prostate and men must have a strong prognosis for survival based on the level of a prostate-specific antigen (PSA) blood of 0.5 or less after treatment. Standard, which are in force for insurance policies issued by Hartford Life Insurance Co. and Hartford Life Insurance Co. and annuities, a subsidiary of Hartford, are the same rates offered to most healthy men the same age.

In 2005, The Hartford became the first insurer in the nation to offer life insurance at standard rates to women age 40 and older who had been treated in the early stages of breast cancer. In 2006, The Hartford became the first insurer to offer life insurance for men aged 60 and over who had been successfully treated for moderately aggressive prostate cancer that was confined to the prostate and who had been surgically removed. Prostate cancer and breast cancer subscription programs represent a holistic approach to Hartford to recognize the improved prognosis for men and women diagnosed and treated for these common cancers.

Dr Craig Davidson, assistant vice president and medical director of The Hartford with high level of individual life insurance division, said: “The ability to use radiation in a more concentrated has substantially improved the effectiveness of the procedure and has given the elderly men a very attractive alternative to surgery. ”

“We want to encourage men older than schedule regular screening for prostate cancer. This is because one of every six men is likely to contract prostate cancer in their lifetime, and more than 90 percent of men diagnosed with prostate cancer are at least 55 years old. ”

Due to improvements in detection and treatment, men whose cancer is confined to the prostate is almost the same five and 10 years survival rates than men without prostate cancer, according to the National Cancer Institute. There are more than two million men alive today who have at some point in his life was diagnosed with the disease. These and other statistics convinced The Hartford to make life easier to buy insurance for many survivors of prostate cancer.

For example, a 70-year-old non-smoking man who lives in Connecticut that meets the guidelines may have to pay an annual premium of $ 17016 to acquire an advanced Universal Life policy with $ 500000 provision in the event of death. Premiums are paid over 30 years, and the policy of not providing a life-Lapse Guarantee. This is a potential annual savings of $ 5000 over a policy written under the guidance of former Hartford. In addition, it could apply to politics as soon as he has had a favorable post-treatment appointment with your doctor, eliminating the need to wait years to be eligible for coverage, as was the case in the past.

“By making life insurance more accessible and less expensive to buy,” Murphy said, “most families have access to the protection they need, and can concentrate on getting well and, most importantly, living their lives.”

The Hartford, a Fortune 100 company, is one of the nation’s largest financial services and insurance companies, with 2007 revenues of $ 25.9 million. The Hartford is a leading provider of investment products, life insurance and group benefits; automotive products and housing and business property and accident insurance. The international operations are in Japan, Brazil and the United Kingdom.

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