Skin cancer is a common life insurance underwriting issue that we encounter with our clients.
Overview:
Skin cancer is the most common form of cancer as 1 in 5 people will develop some form of skin cancer during their lifetime.
Basal Cell Carcinoma:
Basal cell carcinoma is the most common form of skin cancer encountered. Typically, when a basal cell carcinoma is diagnosed, it is removed surgically with no further treatment required. Basal cell carcinoma typically does not spread to other tissues and has no significant impact on underwriting.
Squamous Cell Carcinoma:
Squamous cell carcinoma typically presents itself as a red patch or nodule and treatment is surgery to remove it. Recurrence is common and roughly 5-10% of individuals will develop cancer elsewhere.
Malignant Melanoma:
Malignant melanoma is the most severe type of skin cancer. Melanoma is typically treated by removal of the ski and surrounding tissues plus margin in order to ensure complete removal. Melanomas are measured according to the "Clarks Level" and Breslow Scales". The size and depth of the melanoma determines the Clarks level and Breslow scale.
How skin cancer affects your life insurance rates:
It is important to note that not all companies will do a good job underwriting skin cancer. You need to get to the right company in order to get the most competitive rates possible. We can help as we know which companies to go to.
Each company has its own set of underwriting guidelines, but all companies are looking for the following information:
Type - Did you have basal cell, squamous cell, or melanoma?
Age at Onset - How old were you when diagnosed?
Location - Where was the cancer located? Were there multiple locations?
Diagnosis - Was it basal cell or squamous cell? If it was a melanoma, what was the Clarks Level? What was the Breslow Scale?
Complete Medical Information - Pathology Reports are required in order to get competitive and accurate offers.
What to expect from life insurance companies:
Basal Cell Carcinoma:
If diagnosed early and treated properly, basal cell carcinoma is of little concern to the right life insurance companies. "Preferred" rates are available with a number of companies and there is a possibility of "preferred plus" rates with a few companies.
Squamous cell carcinoma:
Underwriting offers will vary depending on the number of skin lesions involved, the details of the pathology report, and also the offers will be dependent on the "staging" of the cancer. Typically, "standard" rates are available for a great majority of squamous cell cancer cases, while some will require an additional rating on top of the standard rate.
Malignant Melanoma:
Malignant melanomas will require the pathology report in order to get the best possible offer. Underwriters are looking for the Clarks Level and the Breslow Scale in order to determine the severity of the cancer. For some malignant melanoma cases, insurance companies will postpone making an offer to you for a certain period of time after you have completed treatment/surgery. Again, the pathology report is critical in order to get competitive offers for you.
Examples of Clarks Level and Breslow scale underwriting offers:
Clarks Level - Clarks Levels are rated from Level 1-5. Level 1 is the least significant type and Level 5 is the most severe.
Breslow Scale: - Measures the thickness of the cancer. The thicker the cancer the higher the rate.
At LifeInsuranceAdvisors.com, our service is a no pressure, no obligation service. We'll give you the information you need to make an informed decision about your life insurance.
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