A Denial of a $125,000 Penn Mutual Life Insurance Claim Won

Purpose: The purpose of a cancer insurance policy is to provide coverage specifically for the costs associated with a cancer diagnosis and treatment, while the purpose of a life insurance policy is to provide a death benefit to beneficiaries upon the policyholder's passing.

Coverage: A cancer insurance policy typically covers specific cancer-related treatments and expenses, such as chemotherapy, radiation therapy, and hospital stays. In contrast, a life insurance policy does not cover medical expenses or treatments but instead provides a lump-sum payment to beneficiaries upon the policyholder's death.

Premiums: Cancer insurance policies generally have lower premiums than life insurance policies because they offer limited coverage for a specific disease.

Underwriting: Cancer insurance policies may have different underwriting criteria than life insurance policies. For example, some cancer insurance policies may not require a medical exam or may have looser medical underwriting standards than life insurance policies.

Exclusions: Cancer insurance policies may have specific exclusions for certain types of cancer or pre-existing conditions, while life insurance policies typically do not exclude coverage based on a specific medical condition.

Benefit triggers: The benefits under a cancer insurance policy are typically triggered by a cancer diagnosis or specific cancer-related treatments, whereas the benefits under a life insurance policy are triggered by the policyholder's death.