Is Life Insurance Possible After Skin Cancer?
Summertime means days spent in the sun doing things you enjoy. However, it also means taking the necessary precautions to protect your skin from damage that can lead to dangerous Skin Cancers. No one is exempt. Even celebrities like musician Kevin Jonas of the Jonas Brothers who announced recently that he was diagnosed with Basal Cell skin cancer are prone. But are Kevin Jonas and others still insurable? Read on!
Skin Cancer is the most common Cancer in the United States. You have a 1 in 5 chance of getting skin cancer of some kind in your lifetime. The focus of this article is LIFE INSURANCE AFTER SKIN CANCER, so let’s start with a bit of education.
The 3 most common types of skin cancer are Basal Cell, Squamous Cell and Malignant Melanoma. The focus here is going to be on the “mortality” cancer – Malignant Melanoma. Basal Cell and Squamous Cell skin cancers fall into essentially the same risk class for the purposes of life insurance underwriting. Neither of these cancers offer much of a mortality risk, and AgencyONE can offer PREFERRED protection as soon as the skin lesion is proven to be completely removed.
Malignant Melanoma is a completely different animal. It is a dangerous genetic mutation of skin cells. Malignant Melanoma kills people because it is both an aggressive spreading cancer and prone to metastasis (spreads in the bloodstream to other organs).
If you or any or your clients have ever used a tanning bed, regular (annual) dermatology checkups are recommended. Ultra Violet Light (UV) emitted by the sun and tanning beds increases skin cancer risks, but professionals don’t explicitly know what triggers the mutation. Like all cancers, Malignant Melanoma is much easier to treat and cure if diagnosed in its early stages. A very concerning statistic in America today is that one person dies every hour from Malignant Melanoma. Again, regular (annual) whole-body dermatology checks are highly recommended.
The Baby Boomer generation did NOT use sunscreens. They were not an option, but sun enhancers like Hawaiian Tropic and Coppertone were marketed to provide a quick, dark tan with little or NO SPF (Sun Protection Factor). Are we seeing more skin cancers in this population group? Absolutely yes. While we are seeing more Malignant Melanoma being diagnosed, we are also seeing more in the very early stages: Stage 0 or Stage 1. These early stages are considered to be NON-INVASIVE and can be insured at STANDARD rate classes. Unfortunately, a Malignant Melanoma history, regardless of stage, can knock you out of a PREFERRED risk class opportunity with many carriers. That is a general statement as AgencyONE has negotiated several early-stage Melanoma cases into the Preferred Risk band. The risk profile and risk assessments change dramatically as the Melanoma becomes larger, either wider or deeper, and the staging changes to Stage 2 or worse.
Malignant Melanoma is the result of a gene mutation. These mutations have some unique characteristics that make it spread and metastasize easily, so it is a dangerous cancer. However, these same genetic mutations also make it susceptible to some of the new cancer treatment options being researched today and those compelling ones already available.
AgencyONE is fortunate enough to be located between the NIH (National Institutes of Health) just 2 miles away, and the National Cancer Institute just 1 mile away. The Food and Drug Administration is just 4 miles away. The cancer research, genetic research, and treatment results that are funneled into and through these institutions appear in an array of publications and newsletters. STAGE IV metastatic Malignant Melanoma is being CURED. Pretty exciting stuff!
Life Insurance underwriting manuals are slow to change because the actuarial mortality studies take years to compile. By staying on the cutting edge of these therapies, AgencyONE is uniquely poised to negotiate your best possible rating class whether skin cancer or other cancer occurs.
Case Study #1:
Mr. G, male age 65 (Baby Boomer), had a routine dermatology checkup in December 2023 where a single skin lesion was shaved for biopsy, which was discovered to be Malignant Melanoma at Breslow (a measurement of melanoma depth) thickness level .5mm. It was diagnosed as Superficial Spreading Melanoma and Stage 1a. He had secondary surgery removal (wide excision) of the cancer site with margins all “clean” and free of any cancer. Six (6) months later, May 2024, AgencyONE negotiated STANDARD life insurance protection for Mr. G.
Case Study #2:
Mr. B, male 69 (Baby Boomer), had routine dermatology checkups (annually) for the past 11 years after a Squamous Cell skin cancer removal from his right shoulder. In 2019, a small mole looked suspicious to the dermatologist, and a shave biopsy was sent for pathology. The report came back as a Malignant Melanoma Stage 1. A wide excision was performed (deeper and wider tissue removal than the shave) with the final pathology report revealing no further cancer cells being found, and all surgical margins “clean”. With the regular annual follow-up care and Stage 1 Melanoma, this case was negotiated to PREFERRED class for Permanent Protection allowing for lifestyle and health style credits.
As always, AgencyONE’s underwriting unit is available to answer your underwriting questions and help you better understand the skin cancers, diseases and risk factors underwriters assess. The more our AgencyONE 100 Advisors know, the easier it will be to prepare your clients for the underwriting process, and the more likely your case is to proceed smoothly and get placed at the right carrier for the best possible rate.
Please contact AgencyONE’s Underwriting Department at 301-803-7500 for more information or to discuss a case.
