Can I still get life insurance after getting skin cancer?
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Asked June 29, 2015
Life insurance companies offer policies based on many of your personal demographics. This includes your age, occupation, and health, among other things, and is used to more effectively calculate the risks associated with insuring you as an individual. As part of the application process, you will need to have a medical examination to identify any health problems you have, and to refine your rates based on your actual state of health.
Even though skin cancer may not be a terminal disease, it does have the potential to affect your longevity. As the cancer progresses, it may cause problems with your immune system, for example, which opens the door for more malicious illnesses and infections. Since this potential increases the risk of insuring your life, the insurance company will charge you a higher premium for the coverage.
Some forms of skin cancer may be more serious than others. In the event that you have a type of skin cancer which includes other health concerns, the insurance company may decide that the risk of insuring is higher than they are willing to underwrite, and your policy application will be denied. You may be given the option of a policy with exclusions that limit coverage based on the effects of the cancer, but the most common result is simply a refusal to insure you.
If you are not able to get a permanent or term life insurance policy at rates you can afford, you can still get a policy that will cover all of your final needs. Final expense insurance pays directly to a funeral home or director, and includes the cost of your funeral, interment, or any other final expenses related to your death and burial. This type of policy does not provide any proceeds for other beneficiaries, but it has the advantage of being available without the need of medical exam and without respect to your preexisting conditions.
Answered July 3, 2015 by Anonymous