Massachusetts Mutual Life Insurance Company ("MassMutual") has revised its underwriting guidelines to expand access to more individuals diagnosed with breast cancer, many at more favorable ratings, thanks to recent medical advances.
In a statement, the company said that the driving factor was prognosis-based staging.
MassMutual explained that the medical community continues to gain greater understanding of breast cancer. Previously, anatomic features of cancer such as tumor size and the presence and extent of metastasis were given primary attention. More recently, doctors have shifted to prognosis-based staging of breast cancer. This new system considers those anatomic features together with hormonal and HER-2 receptor status, tumor grade, and genetic features of the tumor. This approach results in hundreds of possible combinations that are grouped into prognostic stages.
MassMutual said that adoption of prognosis-based staging of breast cancer in underwriting guidelines has enabled MassMutual to make major revisions in those guidelines, expanding access to life insurance coverage to more individuals diagnosed with breast cancer, and making it possible for many others to qualify for better rates.
Specifically, according to MassMutual, more individuals with breast cancer may:
- Qualify for a policy immediately after successful completion of their treatment;
- Be reclassified into lower risk classes; and
- Be eligible for more favorable ratings – for example, guidelines for non-invasive breast cancer (ductal carcinoma in situ, or DCIS) have been revised to address a wider range of scenarios.
"Our continued monitoring of medical advances fuels our underwriting guideline updates so that we remain current and aligned," said Dr. Jacki Goldstein, head medical director at MassMutual. "If we can play even a small role in the peace of mind that comes from lessening the financial worries for someone diagnosed with breast cancer or any other ailment by insuring more people who need what we have to offer, we look for every opportunity to do just that."
"When someone is diagnosed with cancer, getting the best care quickly is crucial, as well as cultivating a support system that will be there throughout the journey," said Dr. Claudia Coplein, head of health and wellness at MassMutual. "Professionals and loved ones can play a tremendous role, both physically and emotionally, in the overall support and well-being of someone facing the evaluations, decisions, treatments, worries, and stresses that can come with a cancer diagnosis."
Although breast cancer is most common in females, approximately one percent of all breast cancer diagnoses in the United States occur in men, equating to more than 2,000 expected new cases among American men each year.
MassMutual also said that it plans to announce favorable updates to its underwriting guidelines for individuals diagnosed with prostate cancer this fall.
Learn more: www.massmutual.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].