In this article, we aim to answer some of the most common questions that 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 the 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. In fact, they may even be able to qualify for a Preferred rate when applying for a no exam term life insurance policy.
The problem is…
That 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 important 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?
It’s understandable that 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 having a previous skin cancer diagnosis should not have a significant impact on 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.
In the next section, we 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 sources of ultraviolet (UV) radiation. There are three main types of skin cancer: basal cell carcinoma, squamous cell carcinoma, and melanoma.
The most common types of skin cancer will 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 that have been 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 it may be surrounded by a rim of normal-looking skin.
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 electrodessication: 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 that is most appropriate for you will depend on the size, location, and type of BCC that you have. Your dermatologist will be able to recommend the best treatment option for your individual 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 serious 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 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.
Non-Melanoma
Basal Cell Carcinomas and Squamous Cell Carcinomas are usually grouped together and will commonly be referred to as “non-melanoma skin cancers.”
Fortunately because both of these “types” of skin cancers normally appear on parts of an individual’s body which are exposed to frequent sunlight, they are also one’s 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. Where we may run into some difficulty is when the “type” of skin cell that is 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 a 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 serious 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 as a change in the appearance of an existing mole. It may be black, brown, or a variety of other colors, and it may be asymmetrical or have an irregular border. Other signs of melanoma may include a mole that is larger than usual, a mole that is changing in size or shape, or a mole that is 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 trying to diagnose these “types” of cancers, the ABCD rule is often quite helpful.
-
- Asymmetry: does 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 type of treatment that is most appropriate for you will depend on the size, location, and type of melanoma that you have.
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’re still going to need to see the doctor, and if you’re wrong, the time you spend being your own doctor could really harm yourself!
Second…
Nobody here at IBUSA is medically trained, and 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 that they’re looking for. So please don’t mistake any of the medical information that we talk about 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 any 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 also 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 cancer, 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 cell carcinoma 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, which is 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 cell carcinoma or squamous cell carcinoma that has not spread beyond the skin’s surface and have 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, if you have a history of skin cancer, 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.
What can I do to help ensure that 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. It’s important to be honest and upfront about your medical history to avoid any complications or issues during the underwriting process. This will also help ensure that you get the most accurate quotes.
- Get a copy of your medical records: Before applying for life insurance, it’s a good idea to get a copy of your medical records from your doctor. This will help you provide accurate and detailed information to the insurer and can help speed up the underwriting process.
- Maintain a healthy lifestyle: Maintaining a healthy lifestyle, including regular exercise, a balanced diet, and avoiding smoking and excessive drinking, can help improve your overall health and reduce your risk of developing health issues that could impact your life insurance coverage.
- Consider multiple insurers: Shopping around and comparing quotes from multiple 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 that you get the best life insurance coverage for your needs, regardless of any past diagnoses or health issues.
Now, will we be able to help out everyone who has been 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 as well 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 you CAN qualify for.
So, if you’re ready to see what options might be available to you, just give us a call!
