Can I Qualify for Life Insurance if I’ve Been Diagnosed With Basal Cell Carcinoma?
Chances are high that you can qualify for traditional life insurance (a life insurance policy that requires you have a medical exam and therefore is cheaper than no medical insurance) after your cancer has been surgically removed.
However, it’s important to note that you need to apply with the help of a life insurance professional that specializes in your condition. You should not go to a vehicle insurer or bank that also sells life insurance on the side – the life insurance company you go with’s very important, as you will see later.
It is also possible to get a life insurance policy with some companies without having to wait for a year or two. Note that if you have had multiple spots on your body, an insurance company may charge you a higher premium rate.
What Life Insurance Companies Look for When you Have Basal Cell Carcinoma
Life insurance companies use what is called an underwriting process to decide if they’ll cover you, and what rates you’ll pay. The underwriting process is a risk assessment wherein they balance risk of insuring individuals. For a more detailed explanation of life insurance underwriting, go here.
Each insurance company has different guidelines they follow with their underwriting. Thus, some life insurance companies are more open to individuals with basal cell carcinoma than others.
To decide the risk to insure you, they will look at a number of things besides your basal cell carcinoma:
- Your general health
- Family history
- Background history
- If you smoke
Insurance underwriters will want to know the following with regard to your basal cell carcinoma diagnosis:
- Date of you diagnosis (how long ago)
- If other organs or tissues are affected
- Type of treatment
- Treatment completion date
- Pathology report
- Follow-up results from your physician and/or dermatologist
- If you have a history of other treatments such as radiation, immunotherapy, or chemotherapy – and how long ago it was.
Generally, if your basal cell carcinoma did not cause disfigurement, infect other nearby tissues, or any major organs (which is rare) and you don’t have any signs of recurrence, you’ll probably qualify for a standard policy, provided that you pass the other criteria.
At Shelter Bay Financial Corp., we can help you research your life insurance options when you have basal cell carcinoma. We know which carriers offer coverage for your situation and who has the best rates.
To learn more, please call toll free 1.888.498.5288.
We offer online or phone appointments so you never need to come into an office or make time in your busy day for an in-house appointment. We work with you and your schedule.