Life Insurance with Melanoma: Background
Can You Get Life Insurance if You Have Melanoma?
Can You Get Life Insurance after Melanoma?
Does Life Insurance Cover Melanoma (Skin Cancer)?
Melanoma Life Insurance Rates
What Life Insurance Types Can You Get with Skin Cancer?
What is the Best Life Insurance for Melanoma Survivors or Patients?
Melanoma, also known as skin cancer, is something that affects many Canadians. It is the third most common form of cancer in Canadian women ages 15‐29 as per the Canadian Partnership Against Cancer.
The Canadian Cancer Society estimates that in 2022:
The three types of melanoma are basal cell carcinoma, squamous cell carcinoma and malignant melanoma. Malignant melanoma is the most serious type of skin cancer and the deadliest. Malignant tumors affect and destroy the tissue around them and spread (metastasize) within the body.
Insurance underwriters consider melanoma to be a pre-condition. If you have skin cancer, your success on an insurance application, and which policy you can qualify for, will depend on several factors. Let’s dive in and learn more about how you can get life insurance when you also have melanoma.
You can get life insurance if you have skin cancer, but the policy will depend on the state of your condition. The underwriter typically needs to know the:
Here are some examples of documents that will be required throughout the application and underwriting processes:
Yes. Although there are some extra considerations, you can get life insurance after melanoma. Typically, skin cancer survivors with good prognoses qualify for rated life insurance. However, there are two types of policies that are ideal for applicants that have had (or have) melanoma. Those are simplified issue life insurance and guaranteed issue life insurance.
Most life insurance policies cover melanoma. Those with stage 0, or that have long since recovered from skin cancer, have the highest odds of low rates on a traditional policy. Those with more recent recoveries may receive a rated policy. Those with a recent diagnosis or re-occurring episodes are likely to be denied a traditional policy but can apply for guaranteed issue life insurance.
Note that guaranteed issue life insurance will not pay out during the first two policy years for any reason other than death by an accident (not illness). However, if the life insured passes before the waiting period is up, the premiums will be returned to the beneficiary.
Here is a look at how some Canadian life insurers treat life insurance and melanoma.
| Mild cases: stage 0 (In-situ) | Moderate cases: Stage 1A | Severe cases: Stage >1A | |
| Insurer A | Standard | Rating depends on the thickness of the lesion, its location and whether the lesion is ulcerated or not. A waiting period may be necessary before an offer can be made. The extra premium may vary from $5.00 per $1,000/3 years to $15.00 per $1,000/5 years. | Rating depends on the thickness of the lesion, its location and whether the lesion is ulcerated or not. A waiting period may be necessary before an offer can be made. The extra premium may vary from $5.00 per $1,000/3 years to $15.00 per $1,000/5 years |
| Insurer B | Declined for 3 months after treatment and possible standard thereafter. | Rated to decline Rating is usually a flat extra for a reducing number of years since treatment ended. It can range from $7.50/1,000 to $15.00/1,000 | Rated to decline Rating is usually a flat extra for a reducing number of years since treatment ended. It can range from $7.50/1,000 to $15.00/1,000 |
| Insurer C | Standard | Best cases are postponed for 1 year and then a rating of $12.00/mil x 4 years applies. | Best cases are postponed for 1 year and then a rating of $12.00/mil x 4 years applies. |
| Insurer D | Standard 3 months after the last treatment. | 6 months after the last treatment, standard to $7.50 per thousand x 4 years. | Postponed 2 to 5 years post treatment, $7.50 to $15 per thousand afterward. |
| Insurer E | Excised lesion, less than 1.5 cm, diagnosed after age 50, thin lesion, no recurrence: standard. | $7.50 per $1,000/4 years to $10.00 per $1,000/5 years | $7.50 per $1,000/4 years to $10.00 per $1,000/5 years |
Here are the types of insurance policies you can get if you have skin cancer.
| Insurance Type | Medical Exam | Detailed Medical Questionnaire | Short Questionnaire | Coverage Limits | Important to Know |
| 1. Traditional, Medically Underwritten Life Insurance with PREFERRED RATES | Yes | Yes | No | $5,000,000+ | Not available. |
| 2. Traditional, Medically Underwritten Life Insurance with STANDARD RATES | Yes | Yes | No | $5,000,000+ | Only in the least serious cases e.g., in-situ (stage 0) or 2-3 years after treatment. |
| 3. Traditional, Medically Underwritten Life Insurance WITHOUT A MEDICAL EXAM | No | Yes | No | $5,000,000+ | Not available. |
| 4. Traditional, Medically Underwritten RATED Life Insurance | Yes | Yes | No | $5,000,000+ | This would be the most likely scenario for people with stages 1-3 who have successfully completed medical treatment. |
| 5. Simplified Issue Life Insurance | No | No | Yes | $1,000,000 | Questionnaires will typically include a cancer question such as “how far back is your cancer diagnosis?” |
| 6. Guaranteed Issue Life Insurance | No | No | No | $25,000 | Yes, you can always qualify for this one. It does not mater what stage of skin cancer you have. It is important to know that this insurance does not pay in the first two years should the applicant pass away from illness. |
You’ll find options for life insurance with most of Canada’s major insurers, including Manulife, SSQ Life Insurance, Empire Life, Canada Life, and Assumption Life. No medical life insurance is also offered by many insurers, including Canadian Pension Plan and Assumption Life.
Get the best rate and coverage with our experienced life insurance brokers. We have access to 30+ life insurance policies, so you can compare across a wide variety of insurers. Don’t hesitate to reach out – simply complete the quote request on the right side of your screen to get started.
