Skin Cancer Life Insurance: A Quick Checklist

Published On - September 26, 2023

Khadija Farooq Life Insurance
Skin Cancer Life Insurance
A lot of people around us are struggling with some serious health issues and skin cancer is one of them. It is the most common type of cancer and it’s not easy at all to stand firm after its diagnosis. Skin cancer life insurance may help you to cover your medical costs and other financial obligations. Getting life insurance after melanoma can be a difficult task, but not impossible. Different insurance companies are offering multiple coverages for such patients. It’s up to you now whether you qualify for term life insurance simplified issue or guaranteed acceptance insurance. Maybe buying a melanoma life insurance plan in such a critical situation seems like an unusual idea but it’s okay to get enough coverage when you are at risk of dying prematurely. In this blog post, we will cover various aspects of skin cancer life insurance. Read the post to know more!

Life Insurance after Skin Cancer 

Many people asked if I could get life insurance even if I had been diagnosed with skin cancer. Well! That depends on your condition as now you have a history of skin cancer with a pre-existing medical condition. You may be surprised to know but after the diagnosis of skin cancer life insurance coverages of any type are still available for you. But it will depend on the type of skin cancer you may have. Different types of skin cancer can impact the rates of your policy. There are 3 different types of skin cancer:
  • Melanoma 
  • Basal Cell Carcinoma 
  • Squamous Cell Carcinoma 
The first type of skin cancer is the most serious as under 100,000 individuals are diagnosed with Melanoma in the USA per year.

Skin Cancer Life Insurance Cost

Now that we know that life insurance plans are available under certain conditions, let’s discuss how it will affect the cost of insurance for those having skin cancer. Every insurer follows its own policies and guidelines when they are determining the rate or cost of an insurance plan they offer. Mostly, the standard is the best rate you may get.If you want to get Basal Cell carcinoma life insurance or Squamous Cell carcinoma life insurance you can go with a standard plan as these are common forms of skin cancer. But if it’s Melanoma, it would be a different story. Life insurance after Melanoma diagnosis, its rates and costs depend on the stage like the stage of cancer, its treatment, and any chance of recurrence.Usually, melanoma rating is substandard rates and if it comes with a recurrence, it would simply decline.

Skin Cancer Life Insurance Options

If you are thinking of getting skin care life insurance, your insurance premium will depend on your age and overall health and medical conditions. Moreover, if you currently have skin cancer or experienced it in the past, the insurer will determine the type of cancer you have, its stage, severity, and the treatment you are getting to check your risk class. Anytime you have to get life insurance skin cancer, it’s recommended to research multiple insurance companies, review your options, and find the policy that suits best your needs. As mentioned earlier, insurers have different guidelines to check the policy and rates you are eligible for, so make sure to find a company that is best for you and your family. Different insurance options available for skin cancer patients are:

1- Term Life Insurance 

Term life insurance policy will provide you coverage for a specific period. In case you have skin cancer or had it in the past, you can still get the coverage but your rates might be affected. 

2- Permanent Life Insurance 

According to your skin cancer kind, treatment options, and prognosis, you may opt for a whole life or universal life insurance plan. Same as term insurance plans, your rates will be affected. 

3- Simplified Issue Life Insurance 

It does not require a medical exam from the applicants but the coverage amount might be lower than any other insurance plans. You have to answer some health questions on the application. 

4- Guaranteed Issue Life Insurance 

Its premium is higher but one does not have to go through medical exams or health questions while applying. Note that there might be a waiting period after your cancer treatment before you can apply for policy coverage. 

Common Application Process for Skin Cancer Life Insurance 

If you are suffering from a pre-existing condition while applying for insurance coverage, the insurer may ask you some particular questions about your health. Like: 
  • What type of skin cancer do you have?
  • When were you diagnosed with cancer? 
  • What type of treatment did you receive? 
  • Do you visit your dermatologist regularly?
  • Was the skin cancer removed?
  • Have you had various occurrences?
Moreover, while applying, the insurer can also demand your medical records to confirm the diagnosis and treatment history. You have to prepare all the documents and get your medical history ready to proceed with a smooth underwriting process. 

Applying for Insurance Coverage after Skin Cancer Diagnosis 

Have you been diagnosed with skin cancer and are now curious to know about available life insurance plans? Well! It is advisable to consult a professional or financial agent so that you can explore various options, discuss your concerns, and avail the best one together according to your financial strategy. In such a way, you can also get answers to some important questions, such as:
  • How much does a Life Insurance Policy cost you with any pre-existing condition?
  • Would an existing plan be canceled if you get diagnosed with cancer or any other pre-existing condition? 
  • What happens if cancer gets worse or cured? 
While applying for life insurance melanoma, you have to answer all the questions openly and accurately about any pre-existing health conditions. If you don’t disclose your certain health details, you will be penalized or it can affect the life insurance payout for skin cancer your beneficiaries have to receive. Furthermore, having skin cancer can minimize your insurance options, but still, you will get a plan that will work for you and allow you to get valuable protection for your loved ones. 

The Bottom Line 

The end of the discussion is that it’s essential to be aware of your skin cancer history and its implications when you buy a life insurance plan. However, getting skin cancer life insurance is important to make sure you and your loved ones are protected in case you need any financial assistance. 

Frequently Asked Questions (FAQ) 

1- Can you get life insurance after having melanoma? 

Yes, you can get an insurance plan even after diagnosis of melanoma but availability depends on the severity of your disease and treatment history. 

2- Does life insurance payout for skin cancer? 

Yes, if the insured person dies from skin cancer his life insurance plan will pay out a lump sum amount to his aligned beneficiaries. Generally, there are fewer chances of dying from skin cancer but sometimes it may get fatal like malignant melanomas. 3- How much does a life insurance plan cost you with melanoma?Generally, rates are higher for life insurance after melanoma, and costs are also according to your risk classification and some other factors. 

4- Can you get skin cancer life insurance if you have active skin cancer? 

It might be challenging for you to get an insurance plan while actively undergoing treatment for skin cancer. Most insurers prefer to give insurance plans to those individuals who have completed their treatment and now have stable health conditions. However, as your case is unique you can consult with an experienced professional to explore various options. 

5- How long do you have to wait after your skin cancer treatment before applying for life insurance? 

The waiting period before applying for skin cancer life insurance after treatment may vary based on the insurer and the specifications of your case. Sometimes you have to wait for several years post-treatment, some insurers offer coverage sooner. Moreover, it’s recommended to contact an experienced professional to get guidance on your distinctive circumstances. 

6- What happens to your insurance plan if you have a skin cancer recurrence or any other type of cancer?

If that is the case, another option, critical illness insurance is here to help you out. It will cover your costs like medical expenses or other financial obligations due to loss of work. Insurers also pay out a lump sum when you are insured in this scenario.
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