Ben Nguyen 
Melanoma is one of the most dangerous forms of skin cancer. Getting life insurance with a history of melanoma can be challenging but is possible with the right approach. In this guide to life insurance with melanoma in Canada, we’ll explore everything you need to know to protect your family, including:
- Can you get life insurance if you have melanoma?
- What factors do insurers consider when underwriting melanoma cases?
- How does the stage of melanoma affect your rates?
- Types of life insurance policies available to melanoma patients
- Tips for getting affordable coverage
- Alternative options if declined for traditional insurance
Melanoma Statistics in Canada
According to the Government of Canada, melanoma accounts for approximately 3.8% of all new cancer cases each year in men and 3.3% respectively in women. (source: https://www.canada.ca/en/public-health/services/chronic-diseases/cancer/melanoma-skin-cancer.html)
The latest estimates from the Melanoma Canada indicate about 11,300 Canadians will be diagnosed with melanoma in 2024. Melanoma is responsible for the majority of skin cancer deaths in the country, with an estimated 1,300 Canadians will die from it. (source: https://melanomacanada.ca/understanding-skin-cancer/melanoma/stats-and-facts/)
Detecting melanoma at an early stage is critical. The 5-year relative survival rate for melanoma is 84% in men and 91% in women. However, the survival rate drops significantly if the melanoma reaches Stage IV and spreads to other organs.
Regular skin self-exams, physician screenings, and sun safety practices are vital for reducing melanoma risk.
Can You Get Life Insurance If You Have Had Melanoma?
The short answer is yes, you can get life insurance after being diagnosed with melanoma skin cancer. However, there are several factors that will determine your eligibility, how much coverage you can qualify for, and how much your policy will cost.
Insurers will thoroughly review your melanoma history, including:
- The stage and severity of the melanoma
- Your age at diagnosis
- The treatment you received
- How long ago you were diagnosed and treated
- Your response to treatment and prognosis
- Whether there has been any recurrence
- Your ongoing follow-up care
- Other medical conditions you may have
In general, the more time that has passed since the successful treatment of early-stage melanoma, the better chance you have of securing affordable life insurance at standard rates. However, recent, advanced, or recurrent melanoma will often lead to higher premiums or difficulty getting approved.
Working with an experienced independent agent and being prepared to provide detailed medical records can help improve your chances of getting covered.
What Factors Do Insurers Consider When Underwriting Life Insurance for Melanoma?
When you apply for life insurance after melanoma, here are some of the key factors insurers will evaluate:
Stage and Severity
Insurers will thoroughly review pathology reports to determine the stage of your melanoma (in situ, Stage I-IV) and key markers like Breslow depth, mitotic rate, and ulceration. More advanced stages indicate higher mortality risk.
Age at Diagnosis
Younger ages of diagnosis often raise more concerns for insurers in terms of life expectancy and recurrence risk.
Type of Treatment
Insurers will look at the type of treatment you received, such as excision, lymph node removal, chemotherapy, radiation, or immunotherapy. More aggressive treatments suggest higher-risk melanoma.
Time Since Treatment
More time elapsed since successful treatment indicates a lower risk of recurrence. Many insurers require a waiting period of 1-5 years after treatment.
Recurrence
Any recurrence of melanoma after initial treatment raises red flags for insurers in terms of life expectancy.
Follow-Up Care
Diligent follow-up care and skin checks demonstrate that you are monitoring your health.
Family History
A family history of melanoma may indicate a higher genetic predisposition.
Overall Health
Your overall health, any comorbidities, and lifestyle factors like smoking or having high risk occupations can also impact your rates.
How Does Melanoma Stage Affect Life Insurance Rates?
The stage of your melanoma diagnosis is one of the biggest factors determining your life insurance eligibility and premiums. Here’s an overview:
In Situ or Stage 0: Usually qualifies for standard rates immediately after treatment.
Stage IA: Typically standard rates after treatment. Possibly a flat extra for 3-5 years.
Stage IB: Slightly higher risk. May have a postponement period of 6-12 months after treatment and then a flat extra premium for 5+ years.
Stage II: Will often have a 1-2 year postponement period before coverage is offered, followed by flat extra premiums for 5-10+ years.
Stage III: High risk cases. Long postponement periods of 5+ years. Substantial table ratings and flat extras once approved.
Stage IV: Very difficult to obtain traditional life insurance coverage given high mortality rate. Alternatives like guaranteed issue policies may be only option.
Here are some sample monthly premiums for a $500,000 20-year term policy for a 40-year-old male melanoma patient:
| Stage of Melanoma | Sample Monthly Premium |
|---|---|
| In Situ | $160 |
| Stage IA | $175 |
| Stage IB | $240 + $150 flat extra for 5 years |
| Stage IIA | $340 + $200 flat extra for 7 years |
| Stage IIB | $410 + $250 flat extra for 10 years |
| Stage IIIA | $650 + $350 flat extra for 10 years |
Premiums can vary significantly based on individual factors. Working with an independent agent is key to finding the best rate.
Full review: Life Insurance Rates By Age Chart in Canada
What Types of Life Insurance Policies Are Available for Melanoma Patients?
If you have melanoma, here are some of the main life insurance policy options to consider:
Traditional Term or Permanent Policies for Melanoma Patients
For early-stage, low-risk melanoma, you may qualify for a traditional fully underwritten term or permanent life insurance policy. Insurers will rate you based on their underwriting guidelines.
Term Life Insurance for Melanoma Patients
Term life insurance provides coverage for a specified period of time (10, 20, 30 years etc.). Premiums are lower than permanent insurance since coverage is not lifelong.
Permanent Life Insurance for Melanoma Patients
Permanent life insurance provides lifelong coverage as long as premiums are paid. Types include whole life and universal life insurance. Premiums are generally higher than term insurance.
What if I Get Declined for Traditional Life Insurance Due to Melanoma? Alternatives Life Insurance Options to Explore for Melanoma Patients
If you have later stage, recurrent, or recent melanoma, you may have difficulty qualifying for traditional underwritten life insurance and could be declined or offered unaffordable rates. In that case, here are some alternative options to consider:
Guaranteed Issue Life Insurance for Melanoma Patients
Guaranteed issue life insurance does not require any medical underwriting. It guarantees approval regardless of health background. While maximum coverage amounts are low ($25,000 or less), they can provide your loved ones with some benefits for final expenses. Drawbacks include higher premiums and a two year waiting period for a full payout.
Simplified Issue Life Insurance for Melanoma Patients
Simplified issue life insurance involves limited health questions and no medical exam. Approval is not guaranteed, but underwriting is minimal, so this policy type may be an option if declined for traditional insurance.
Graded Death Benefit
Similar to guaranteed issue, graded benefit life insurance does not require underwriting. Initial death benefits during the first 2-3 years are limited but later increase to the full amount. Can offer more coverage than guaranteed issue.
Final Expense Insurance
Small death benefit policies that cover funeral costs and final expenses. Limited underwriting focuses on basic health questions. Maximum coverage amount is generally $25,000 or less.
Accidental Death Insurance
Accidental death insurance pays out if death occurs due to a mishap like a car accident or fall. Does not pay benefits for death due to illness. Can provide additional financial protection for your family.
While not perfect substitutes for traditional life insurance, these alternatives offer some coverage if you do not qualify for underwritten policies. An independent agent can help you explore your options.
Tips for Getting Affordable Life Insurance Coverage After Melanoma
If you’ve had melanoma, here are some tips that can help you secure more affordable life insurance:
- Compare quotes from several insurers – each company assesses risk differently.
(Check out our full review: 20 Largest Life Insurance Companies in Canada) - Work with an independent agent who has experience underwriting melanoma cases. They can advocate for you.
- Provide accurate details about your diagnosis, treatment, and follow-up care.
- Ask about accelerated underwriting programs that don’t require full medical exams.
- Consider a longer waiting period after treatment before applying if you had later stage melanoma.
- Apply for a shorter term length (e.g. 10 years) to lock in lower rates if you have more advanced melanoma.
- Improve your overall health with diet, exercise, and weight management to offset your melanoma history.
- Add a survivorship rider so rates won’t increase if your melanoma returns.
Taking these steps can help you secure affordable life insurance protection. Be patient – there are options available.
In addition to Melanoma, other diagnosed conditions also influence your life insurance eligibility and rates. Refer to these useful resources to gain more insights into Life Insurance with Pre-Existing
Conditions:
- Life Insurance with Cancer in Canada
- How To Get Life Insurance With Liver Cancer
- Life Insurance with Lung Cancer in Canada
- Life Insurance with Ovarian Cancer in Canada
- Life Insurance For Breast Cancer Patients and Survivors in Canada
- Life Insurance with Thyroid Cancer in Canada
- Purchasing Life Insurance After Prostate Cancer
Takeaways on Purchasing Life Insurance With Melanoma
The bottom line is that while having melanoma can make getting life insurance more difficult and expensive, coverage options are available with the right approach. Follow these key takeaways when shopping for policies:
- Life insurance is possible even after a melanoma diagnosis and treatment. Don’t assume you are uninsurable.
- Underwriters will closely evaluate the specifics of your case, including stage, treatment response, time since diagnosis, and overall health outlook.
- Applying with an experienced independent agent is crucial to navigating underwriting and finding you the best rate.
- Be prepared to provide detailed medical records. The more data you can offer about your melanoma prognosis, the better.
- Shopping multiple insurers is key, as each company assesses risk differently. Cast a wide net.
- If declined for traditional policies, guaranteed issue or accidental death insurance offers alternative protections.
- Maintaining good health and follow-up care will provide peace of mind and improve your insurance prospects.
Despite the challenges of getting covered after melanoma, solutions are out there. With persistence and the right support, you can secure life insurance to protect your family’s financial future. Our team is here to help – visit Lifebuzz to get your customized quote today.
Conclusion
Getting life insurance with a history of melanoma may require some additional effort, but securing coverage is possible if you approach the process strategically. Being an educated insurance shopper and working with an independent agent maximizes your chances of success.
The stage of your melanoma and your overall health outlook play a major role in determining eligibility and rates. Taking proactive steps to improve your health can offset your melanoma history in the eyes of insurers. As time passes after successful treatment, the impact on eligibility for coverage also diminishes.
While traditional policies may offer the best balance of affordable premiums and sufficient coverage, alternatives like guaranteed issue insurance provide a safety net if you are declined for underwritten policies.
At the end of the day, the important thing is making sure your loved ones are financially protected. With professional guidance tailored to your situation, you can find the right life insurance solution despite having melanoma. Reach out today to start exploring your options.
Frequently Asked Questions (FAQs) about life insurance with melanoma
How does melanoma affect your ability to get life insurance in Canada?
Melanoma can impact your ability to get life insurance and may result in higher premiums or difficulty getting approved, depending on factors like the stage, treatment, time since diagnosis, and risk of recurrence. Insurers will thoroughly assess your medical records.
What stage of melanoma is most difficult to get life insurance?
Later stage melanoma like Stage III and Stage IV is generally the most difficult for getting life insurance, as it indicates the cancer has spread and poses a higher mortality risk. This often results in long postponement periods before approval or the need for alternatives like guaranteed issue policies.
Can you get life insurance after stage 2 melanoma?
Yes, you can get life insurance after Stage 2 melanoma. There is typically a postponement period of 1-2 years before coverage is offered, followed by rated premiums with flat extra charges for 5-10+ years. The exact terms depend on the specifics of your diagnosis and treatment.
How long after being diagnosed with melanoma can you get life insurance?
It depends on the stage. After early stage melanoma, you may qualify immediately. For Stage 2, there is usually a 1-2 year wait period. Stage 3 may have a 5+ year wait. It also depends on the treatment response and your overall health outlook.
What information do you need to provide to apply for life insurance with melanoma?
Be prepared to provide pathology reports, treatment records, details on the stage, type of melanoma, Breslow thickness, lymph node involvement, and your ongoing follow-up care. Bringing as much medical history as possible helps your case.
What life insurance companies offer policies to melanoma survivors?
Some top insurers in Canada for melanoma cases include Canada Protection Plan (CPP) , Manulife, Sun Life, ivari, RBC Insurance, Canada Life, and others. Working with an independent broker helps get you matched with the right company.
Is accidental death insurance a good option if you can't get regular life insurance due to melanoma?
Accidental death insurance can provide a supplemental layer of financial protection for your loved ones if you are unable to secure traditional life insurance. While it has limits, it pays out if you pass away due to an accident.
Can you get life insurance with stage 0 melanoma?
Yes, stage 0 or melanoma in situ can often qualify for standard life insurance rates right after treatment. This earliest stage means the cancer is localized in the outermost skin layer and is very treatable.
What is the cost of life insurance for someone who has had melanoma?
Costs vary greatly based on the stage, from standard rates for early stage to potentially very high premiums for Stage III and IV if approved. On average, expect to pay 50-200% more than standard policy premiums if you have had melanoma previously.
Should you disclose melanoma when applying for life insurance in Canada?
Absolutely. It is vital to disclose any history of melanoma and provide full medical details, as failing to do so can allow the insurer to deny claims later. Being upfront gives you the best chance for accurate risk assessment and competitive rates.
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