When you have certain health related conditions, it can be difficult to qualify for life insurance. This is because various ailments can present a higher amount of risk to the insurance company. Depending on the exact condition – as well as its severity – the insurer may deny your application for coverage altogether. However, in other cases, you could qualify at a Substandard or even at a Standard premium rate.
There are a lot of people that think they can’t be approved for life insurance because of their health of any pre-existing condition, but that isn’t true. In just about every case, you can get life insurance at an affordable rate, even with health complications.
For those who have had melanoma, it is possible to qualify for traditional life insurance coverage. In most cases, you will be required to undergo a medical examination in order to do so, as applying for a no medical exam policy will increase your premiums drastically. Your best chance of obtaining a Standard rating will occur when melanoma has been detected at an early stage, and it has an excellent chance of treatment and cure.
In other cases, you will likely be rated as a Substandard risk. This means that you will be required to pay a higher amount of premium for your policy that those policyholders who are of average health. Regardless of the rating that you get, life insurance is usually much more affordable than most applicants think. You can’t put a price on the peace of mind knowing that your family will have the money they need, even if you were to pass away.
Are you a veteran and wondering if you can qualify for affordable life insurance for veteran’s? Let us help you in your search.
What the Underwriters Will Ask
Although all insurers are different, it is likely that the underwriters at most insurance companies will want to know more details about your condition. Knowing this information can help the underwriters in making a more accurate determination regarding whether or not to accept you for coverage.
While each insurer will typically have its own set of underwriting guidelines, all will need to know some form of the following information regarding your melanoma condition:
- What type of melanoma do – or did – you have? This may include malignant melanoma skin cancer, squamous cell skin cancer, or basal cell skin cancer.
- What age were you when you were initially diagnosed with melanoma?
- Where on your body was the skin cancer located – and, was the cancer in more than one location?
- What type of diagnosis were you given regarding your condition?
- Have you had any surgery for the removal of abnormal growth due to melanoma – and if so, when?
- Do you regularly visit your dermatologist for check-ups?
- Have you had any type of biopsy or diagnostic exams performed in the past 12 months, and if so, what were the results?
- Do you present a high risk of ultraviolet radiation exposure?
In addition, the underwriters will usually also want to obtain your pathology reports from your doctor. This will help them in getting a more complete picture of your overall health condition. You may also be required to take a medical exam prior to a final decision on coverage being made.
Other pertinent factors that the underwriters will review include your:
- Smoking status
- Family health history – such as a history of Diabetes
- Other health conditions
The underwriters will also review and take into consideration the type and the amount of life insurance coverage that is being applied for. Once all of the criteria have been examined, the underwriters will be able to determine whether or not to accept your application for coverage – and if so, whether to offer you a Standard policy or a Substandard policy and rate.
All of these are going to play an important role in how much you pay for your life insurance, and your chances of being accepted for the coverage. While there are several factors that you can’t control, there are some that you can, like your health and smoking. If you want to improve your chances, you’ll need to improve your health and quit smoking.
What if You Had Malignant Melanoma?
If you had malignant melanoma, you can still obtain life insurance coverage in most cases. In order to make a determination, the life insurance underwriters will look for the Breslow Scale and the Clarks Level of the malignant melanoma skin cancer. This information will help them in better determining the severity of the condition.
In some instances, the life insurance company may hold off on offering you coverage for a certain period of time until after you have completed treatment and / or surgery. After the appropriate time frame has elapsed, you can again apply for coverage. In some cases, there could be a waiting period of two years before they will offer you full coverage on your policy. If you were to pass away during the waiting period, the life insurance company will refund your family premiums, but not pay the face value of the plan.
Life insurance coverage for those with melanoma – as well as for those who have beaten this condition – doesn’t have to cost a lot either. We can help you to find the right amount of coverage for your needs, at the right premium price for your budget.
No Exam Life Insurance Coverage
One alternative for life insurance is to purchase a no exam life insurance policy. As you can guess from the name, these plans let you get insurance without having to take the medical exam. For some applicants, this could be the best choice for getting life insurance. There are a couple of pros and cons that you should time note of when you’re shopping for insurance.
One notable advantage is how quickly you can be approved for life insurance. With a no exam policy, you can get approved for life insurance in a couple of days. With some companies, you can have life insurance in a matter of hours. On the other hand, with a traditional life insurance policy, you could wait several weeks or even a month to get approved. If you want to get life insurance faster, a no exam policy is going to be the best bet.
One of the pitfalls of these plans is that you’re going to be restricted on how much you can buy. Most no exam policies only let you purchase around $350,000 worth of coverage. For most families, that isn’t enough life insurance protection. Not having enough coverage is one of the worst mistakes that you could make for your loved ones.
Another drawback of these policies is that they are more expensive. You’ll pay more for the same sized no exam than you would for a traditional policy that requires a medical exam. If you want to get the cheapest life insurance policy, you need to apply for one that has a medical exam.
How to Obtain A Life Insurance Quote
Even if you have melanoma, you can still apply for life insurance – with a good chance of obtaining a policy – provided that you apply through the right channels. We work with a number of the top rated life insurance companies in the marketplace, and we know which insurers are more likely to accept applicants who have been diagnosed with melanoma.
Unlike traditional life insurance agents, our independent agents can represent dozens of the most highly rated insurance companies across the United States. Working with our agents has several advantages, not only will we save you time, but we will also save you money. Because very insurance company has different rating systems, it’s vital that you find the perfect company for your health situation. Finding the right company could be the difference between being declined for insurance coverage, or getting an affordable plan to protect your family and we can help you find that company.
You can’t predict the future, which means you shouldn’t wait another day to get the life insurance protection that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance, then your family would be stuck with a mountain of debt and to money to pay for those bills. Don’t hesitate another day to get the life insurance that your loved ones need. If you have any questions about getting life insurance as an applicant with a history of melanoma, please contact one of our agents today.
If you are ready to obtain a life insurance quote, let us help you through the process. You can compare quotes from several insurers now. In order to get the process started, simply take a moment to fill out the form on this page. Should you have any additional questions regarding life insurance with melanoma, how to get policy quotes, or how to complete the application process, please feel free to contact us at 888-229-7522 and we’ll be happy to help.