In this article, we aim to answer some of the most common questions individuals diagnosed with skin cancer often ask when applying for life insurance.
- Can I qualify for life insurance if I have been diagnosed with skin cancer?
- Why do life insurance companies care if I have been diagnosed with skin cancer?
- What kind of information will insurance companies request or be interested in?
- What rate can I qualify for?
- How can I increase my chances of getting the best life insurance coverage?
Without further delay, let’s get started!
Can I qualify for life insurance if I have been diagnosed with Skin Cancer?
Yes, individuals who have been diagnosed with skin cancer can and often will be able to qualify for a traditional term or whole life insurance policy. They may even be eligible for a Preferred rate when applying for a no-exam term life insurance policy.
The problem is…
The term “skin cancer” can be used to describe a variety of different conditions which can and often will be treated quite differently from one another by most of the top-rated life insurance companies, so it’s essential to understand what “kind” of skin cancer you’ve been diagnosed with as well as the number of occasions/spots you were diagnosed with as well.
Why do life insurance companies care if I have been diagnosed with Skin Cancer?
Understandably, life insurance companies will want to know about any cancer diagnosis, including skin cancer. As such, it’s not surprising that individuals who have been diagnosed with skin cancer in the past will be asked a few questions before being approved for a life insurance policy.
The good news is that most skin cancers are easily detected and treated, and a previous skin cancer diagnosis should not significantly impact your life insurance application’s outcome. However, it’s essential to demonstrate that you are now cancer-free and not at risk of developing future cancers.
It’s worth noting…
That there are different types of skin cancers, and life insurance companies may approach each type differently. Therefore, it’s crucial to understand the type of skin cancer you have been diagnosed with and how the insurer is likely to view it.
The following section will briefly discuss the types of skin cancers an individual might be diagnosed with and how life insurance companies typically evaluate each type. This information can help you prepare for the underwriting process and increase your chances of getting approved for the best life insurance coverage.
Skin Cancer Defined.
Skin cancer is a type of cancer that affects the skin, the body’s largest organ. It is caused by the abnormal growth of skin cells, which can occur when the skin is damaged by the sun or other ultraviolet (UV) radiation sources. There are three main types of skin cancer: basal cell carcinoma, squamous cell carcinoma, and Melanoma.
The most common types of skin cancer include:
- Basal Cell
- Squamous Cell
- Melanoma
Let’s take a closer look at each.
Basal cell carcinoma:
Basal cell carcinoma (BCC) is the most common type of skin cancer. It is a slow-growing cancer that typically occurs on areas of the skin exposed to the sun, such as the face, neck, and hands. BCC is usually not aggressive or life-threatening, but it can be disfiguring if not treated promptly.
BCC usually appears as a small, pearly bump on the skin or as a flat, scaly patch. It may also appear as a sore that bleeds easily and does not heal. The bump or patch may be pink, red, or white, and normal-looking skin may surround it.
Treatment for BCC usually involves removing the cancerous cells with surgery or other procedures. Options may include:
- Excision: The cancerous cells are cut out with a scalpel.
- Curettage and electrodesiccation: The cancerous cells are scraped off with a curette and then destroyed with an electric current.
- Cryosurgery: The cancerous cells are frozen with liquid nitrogen.
- Photodynamic therapy: A light-sensitive solution is applied to the cancerous cells, which are then exposed to a special light.
The type of treatment most appropriate for you will depend on your size, location, and type of BCC. Your dermatologist can recommend the best treatment option for your situation.
Squamous Cell Carcinoma:
Squamous cell carcinoma (SCC) is a type of skin cancer that affects the squamous cells, which are the cells that make up the outer layer of the skin. It is a more severe type of skin cancer than basal cell carcinoma (BCC), and it has the potential to spread to other parts of the body if not treated promptly.
SCC usually appears as a rough, red patch or as a bump on the skin. It may also appear as a sore that does not heal or as a scaly, crusty patch. The patch or bump may be tender to the touch and may bleed easily.
SCC is often caused by exposure to UV radiation from the sun or other sources. It is more common in people with fair skin, but it can occur in people of any skin type. It is also more common in people who have been exposed to certain chemicals or who have compromised immune systems.
Treatment for SCC usually involves removing the cancerous cells with surgery or other procedures.
Treatment Options may include:
- Excision: The cancerous cells are cut out with a scalpel.
- Mohs surgery: The cancerous cells are removed layer by layer until all cancerous cells are gone.
- Cryosurgery: The cancerous cells are frozen with liquid nitrogen.
- Photodynamic therapy: A light-sensitive solution is applied to the cancerous cells, which are then exposed to a special light.
Non-Melanoma
Basal and Squamous Cell carcinoma are usually grouped and are commonly referred to as “non-melanoma skin cancers.”
Fortunately, because both of these “types” of skin cancers usually appear on parts of an individual’s body that are exposed to frequent sunlight, they are also ones that will usually get “noticed” early on, which makes them highly treatable which is evident by the cure rate of nearly 99%!
Which is why…
These “types” of skin cancers will receive very positive receptions from most (if not all) life insurance companies. We may run into some difficulty when the “type” of skin cell affected by cancer isn’t a basal or squamous cell.
Instead, it is a melanocyte, which is the type of cell that provides one’s pigmentation. In cases like these, the resulting cancer is called Melanoma and is generally considered the “most dangerous” type of skin cancer of the three.
Melanoma:
Melanoma is a type of skin cancer that begins in the cells that produce pigment in the skin. It is the most severe and aggressive type of skin cancer, and it has the potential to spread to other parts of the body if not treated promptly.
Melanoma usually appears as a new mole or a change in an existing mole’s appearance. It may be black, brown, or various other colors, and it may be asymmetrical or have an irregular border. Other signs of Melanoma may include a mole larger than usual, changing in size or shape, or painful or itchy.
Melanoma is often caused by exposure to UV radiation from the sun or other sources. It is more common in people with fair skin, but it can occur in people of any skin type. It is also more common in people who have a family history of Melanoma, who have many moles, or who have previously had skin cancer.
When diagnosing these “types” of cancers, the ABCD rule is often quite helpful.
-
- Asymmetry: do both halves of the mole match the other? If not, get it checked out!
- Border: are the edges ragged or blurred? If so, get it checked out!
- Color: Are there uneven shades of brown, black, tan, red, white, or even blue? If so, get it to check out!
- Diameter: Have you noticed any changes in size? If so, get it checked out!
Treatment for Melanoma usually involves removing the cancerous cells with surgery or other procedures.
Treatment Options may include:
- Excision: The cancerous cells are cut out with a scalpel.
- Mohs surgery: The cancerous cells are removed layer by layer until all of the cancerous cells are gone.
- Cryosurgery: The cancerous cells are frozen with liquid nitrogen.
- Photodynamic therapy: A light-sensitive solution is applied to the cancerous cells, which are then exposed to a special light.
The treatment most appropriate for you will depend on your size, location, and kind of Melanoma.
The good news is…
Even though these “types” of skin cancers are considered the more dangerous kinds because of their ability to “travel” to other parts of the body, they, too, experience a very high survival rate when diagnosed early.
“Which brings us to an important point that we think we ought to mention.”
First…
If you think you have a medical issue, don’t use us or the internet to diagnose yourself. After all, if you do and you’re correct, you’ll still need to see the doctor, and if you’re wrong, the time you spend being your own doctor could really harm you!
Second…
Nobody here at IBUSA is medically trained; we’re certainly not doctors. All we are is a bunch of life insurance agents who just happened to be really good at helping individuals find and qualify for the life insurance they’re looking for. So please don’t mistake any of the medical information we discuss as medical advice because it’s not!
We’re just trying to “prep” you for what it might be like to apply for a life insurance policy after being diagnosed with skin cancer… that’s it! This brings us to our next topic, which is…
What kind of information will the insurance companies ask me or be interested in?
When you apply for life insurance after being diagnosed with skin cancer, the insurance company will typically ask you for information related to your diagnosis, treatment, and current health status. Here are some of the common questions that the insurer may ask:
- What type of skin cancer were you diagnosed with? (e.g., basal cell carcinoma, squamous cell carcinoma, Melanoma)
- What stage was your skin cancer?
- When were you diagnosed with skin cancer, and how long ago did you complete treatment?
- What treatment did you receive? (e.g., surgery, radiation, chemotherapy, immunotherapy)
- Are you currently cancer-free?
- Do you have other medical conditions or risk factors that could impact your health?
- Have you had any follow-up visits or tests since completing treatment?
In addition to these questions, the insurance company may request medical records and reports from your doctors to verify your medical history and current health status. They may also perform a medical exam, including blood work and other diagnostic tests, to assess your overall health and any potential risks.
By providing the insurer with accurate and detailed information about your skin cancer diagnosis and treatment, you can help them assess your insurability and determine the appropriate premiums and policy terms.
What rate can I qualify for?
The “rate” you can qualify for after being diagnosed with skin cancer will depend on several factors, including the type of skin cancer you were diagnosed with, the stage of the tumor, the treatment you received, and how long ago you completed treatment. Here are some general guidelines for the rates you may be able to qualify for:
- Preferred Plus: If you have been diagnosed with basal or squamous cell carcinoma that has been completely removed and has not spread beyond the skin’s surface, you may be eligible for a Preferred Plus rate, the best rate available. You should also be cancer-free for at least two years, have no history of multiple skin cancers, and have a favorable medical history.
- Preferred: If you have been diagnosed with basal or squamous cell carcinoma that has not spread beyond the skin’s surface and has a favorable medical history, you may be eligible for a Preferred rate.
- Standard: If you have been diagnosed with basal cell carcinoma or squamous cell carcinoma that has been removed but has spread beyond the skin’s surface, or if you have been diagnosed with Melanoma in situ, you may qualify for a Standard rate.
- Substandard: If you have been diagnosed with Melanoma or other types of skin cancer that have spread beyond the skin’s surface or have a history of multiple skin cancers, you may qualify for a substandard rate. The premium for this rate will be higher than the standard rate due to the increased risk.
It’s worth noting that the rates and eligibility criteria may vary by insurance company, so it’s important to shop around and compare quotes from different insurers to find the best coverage at the most affordable price. Additionally, suppose you have a history of skin cancer. In that case, it’s a good idea to work with an independent insurance agent or broker who can help you navigate the underwriting process and find the best coverage options for your specific needs.
How can I help ensure I get the “best life insurance” for me?
Here are some steps you can take to help ensure that you get the best life insurance coverage for your needs:
- Work with an experienced and independent insurance agent or broker: An experienced and independent insurance agent or broker can help you navigate the underwriting process and find the best coverage options for your specific needs. They can also help you compare quotes from different insurers to find the most affordable premiums.
- Be honest about your medical history: When you apply for life insurance, you will be asked about your medical history, including any past diagnoses and treatments. Being honest and upfront about your medical history is essential to avoid complications or issues during underwriting. This will also help ensure that you get the most accurate quotes.
- Get a copy of your medical records: Before applying for life insurance, getting a copy of your medical records from your doctor is a good idea. This will help you provide the insurer with accurate and detailed information and can speed up the underwriting process.
- Maintain a healthy lifestyle: A healthy lifestyle, including regular exercise, a balanced diet, and avoiding smoking and excessive drinking, can help improve overall health and reduce the risk of developing health issues that could impact your life insurance coverage.
- Consider multiple insurers: Shopping around and comparing quotes from various insurers can help you find the best coverage at the most affordable price. Be sure to compare coverage levels, premiums, and any additional benefits or riders that may be available.
By taking these steps, you can help ensure you get the best life insurance coverage for your needs, regardless of past diagnoses or health issues.
Now, can we help out everyone previously diagnosed with Skin Cancer?
No, probably not. But what we can tell you is that in addition to offering a wide variety of different term and whole life insurance policies, IBUSA has also worked very hard to establish relationships with many of the Best Burial Life Insurance Companies so that if someone isn’t able to qualify for a traditional life insurance policy, chances are there may be some other “type” of product that they CAN qualify for.
So, if you’re ready to explore your options, just call us!
