If you’ve been around life insurance long enough you begin to see that there are companies whose underwriting guidelines kind of float on the breeze and then there are those who truly do their homework and strive to make reasonable decisions.
I have commented in previous posts about the shift that happened a few years ago with a lot of the “float on the breeze” companies. A study came out that indicated that people who had multiple incidents (more than one) of basal cell carcinoma, the most innocuous of skin cancers, had a higher risk of having melanoma, the deadliest of skin cancers. At least this study was cited to me by underwriters. The nearest article I could find that leaned in that direction merely indicated that if you’ve had basal cell once, there’s a 30% chance you will have skin cancer again within 5 years.
Suddenly, basal cell carcinoma went from an unrateable event to an issue that could kick you down to standard rates or worse with many companies. What these companies did was seize the bad news in a study and throw out the logical good news.
The good news in this case is that just about everyone who has skin cancer once, whether basal cell, squamous cell or melanoma, will likely become something of a fanatic about seeing the dermatologist at least annually and doing self checks way more frequently than that. That means that even if there is a slightly higher chance of melanoma, in all likelihood it would be caught early enough that it would be successfully treated.
This is where Prudential again stands out. They seem to understand the dynamics of the situation and if a person has had multiple squamous cell carcinomas or basal cell carcinomas, as long as they are checked regularly, their best rates can still apply.
Bottom line. If you have had any type of skin cancer and are shopping for life insurance, use an independent agent that knows where companies stand and know where to take your business for the best chance of success, and more importantly where not to take your business.