Finding burial insurance with Melanoma is not easy for someone looking to obtain life insurance. Unlike basal cell and squamous cell carcinoma, melanoma is the most severe type of skin cancer. If you have melanoma life insurance carriers may decline your application for coverage.
Cancer is a medical condition that every burial or life insurance company will ask about. If you have melanoma, you could face some challenges in the insurance application process.
Even though melanoma can raise red flags for life insurance carriers, in all cases, cancer patients with melanoma can qualify for burial insurance.
Melanoma has no negative impact on getting burial insurance. As a matter of fact, if you’re just recently diagnosed with melanoma, you are still eligible for an affordable burial insurance policy.
And here’s some more good news…burial insurance plans don’t require a medical exam.
All you need to be do is answer some health-related questions, and some plans don’t even require you to answer any questions at all.
Funeral Funds has helped many customers with melanoma secure affordable burial insurance coverage, and we will help you get the best burial insurance with a melanoma diagnosis.
WHY DO INSURANCE COMPANIES CARE ABOUT MELANOMA?
Melanoma is the most serious and invasive type of skin cancer. It accounts for less than 1% of all skin cancer cases but it accounts for the majority of skin cancer deaths in the U.S.
Melanoma kills an estimated 9,320 people annually (5,990 are men, and 3,330 are women). Someone will die from melanoma or skin cancer every 54 minutes.
Lots of people are genetically disposed to getting melanoma. An estimated 178,560 cases of skin cancer will be diagnosed in the country in 2018. 87,290 of those will be noninvasive (in situ), and 91,270 will be invasive, penetrating the epidermis into the second layer of the skin.
The insurance companies know that if melanoma is treated early, it is almost always curable, but if it is not, cancer will spread to other parts of the body, and become hard to treat and may result in death. Although melanoma is not the most common type of skin cancer, it causes the most fatalities.
Insurance carriers look at melanoma more seriously than squamous or basal cell carcinoma.
Melanoma presents a higher risk compared to other cancers because it can metastasize early, and it recurs often. If you were diagnosed with melanoma in the past and it was treated with radiation or chemotherapy, you will likely need to be cancer-free for at least five to ten years before you can qualify for the level death benefit.
It may not all be encouraging for people diagnosed with melanoma. However, the estimated 5-year survival for those who detected their melanoma early is about 98%. This is good news, which is why it’s imperative to frequently be checked by your physician for any unusual lesions or moles.
WHAT WILL WE ASK YOU IF YOU HAVE MELANOMA?
To help you find the best rates and company, our agents will ask you the following questions:
- When were you initially diagnosed with melanoma?
- How many occurrences did you have?
- Did your melanoma spread or metastasize?
- What type of treatments did you receive for melanoma?
- When was your treatment completed?
- Have you had any recurrences of melanoma spots that were previously removed?
- Do you have annual follow-up visits with your doctor or dermatologist?
Your answers to these health questions will help us determine what burial insurance carriers match your needs. The price of your insurance premium will rely heavily on the last time you had treatment for your melanoma.
UNDERWRITING BURIAL INSURANCE WITH MELANOMA
Every single burial insurance company will ask about cancer in their application. Each company has unique underwriting guidelines, and they consider some health and medical variables when underwriting your application.
Here are the main things burial insurance companies consider in regards to melanoma:
- When did you last have melanoma?
- When was your last treatment?
- How many times have you had melanoma?
They will ask you these questions to determine what policy options are open for you and how much your monthly premium will be.
If you currently have melanoma, most life insurance companies will decline you instantly. However, there are still some burial insurance companies that will accept you. But, they will impose a waiting period and charge you more for your coverage.
It is important to know that having melanoma means you will have to a two-year waiting period. This is completely unavoidable as no insurance carrier will offer you immediate coverage if you have a malignant melanoma cancer.
HEALTH QUESTIONS ON YOUR FUNERAL OR BURIAL INSURANCE APPLICATION
If your last treatment with melanoma has been more than two years, you can qualify for an immediate death benefit.
To be eligible for the immediate death benefit and the lowest rates, you must apply for a final expense insurance plan with non-medical exam underwriting. The first part of a burial insurance underwriting is the health questionnaire.
Every burial insurance company has their own health questions. You will generally see cancer questions in two different sections. It will be asked in the knockout section and the graded section.
Melanoma in the “knockout” section.
You will typically see melanoma or skin cancer asked this way:
- Do you currently have any type of cancer?
- Have you ever had metastatic cancer that has spread to other parts of your body?
- Have you ever had one or more occurrence of cancer?
If you answer “yes” to any of these cancer questions in the knockout section of the health questionnaire, most insurance carriers will not offer you any coverage.
Melanoma in the graded section
The graded section is for higher risk clients. Graded plans cost a bit more and come with a partial or full waiting period.
You can see melanoma (skin cancer) in the graded section asked this way:
- In the last 2 years, have you been diagnosed with cancer or been advised to receive radiation or chemotherapy for cancer?
- In the last 2 years, have you ever been treated for any internal cancer?
- In the last 3 years, have you received treatment for any internal cancer?
- In the last 3 years, have you been diagnosed with cancer, or received radiation or chemotherapy for cancer?
Melanoma has a two-year minimum look back period. No insurance company will only ask about skin cancer within the last 12 months. If you have melanoma in the last two years, you will be forced to accept a higher-risk option with the insurance carrier.
Melanoma Treatments On An Insurance Application
If you are having treatments, you will be considered as having melanoma or skin cancer.
There are many types of skin cancer treatments that the insurance companies consider before offering and approval or offer of coverage:
- Targeted therapy (chemotherapy and radiation)
- Any prescription drugs meant to treat cancer
If you are undergoing any of these because of skin cancer, these will qualify as a skin cancer treatment.
PRESCRIPTION HISTORY CHECK
Burial insurance plans with non-medical underwriting will still check your prescription history to see what medications you take for any health conditions.
There are different drugs to treat melanoma. If you have filled any cancer treatment medications within the last two years, burial insurance carriers will assume you are undergoing treatment for melanoma.
Here’s a list of some common drugs for Melanoma:
WHAT CAN YOU EXPECT IF YOU HAVE MELANOMA
Having melanoma will limit your choices when purchasing burial insurance.
Here’s a list of responses you will get from insurance companies if you have melanoma:
You have melanoma, and you have been treated within the last two years
Unfortunately, every burial insurance company has a two-year look-back period. They will not ask about melanoma within a period of less than two years. Because of this, you fall into the highest risk category with every company.
If the carrier says you can’t qualify for traditional life insurance, there’s no need to worry. There may be some companies that will offer you a plan, but it will be a graded plan. A graded plan has two limitations. First, it is 40-100% more expensive than traditional life insurance. Second, it has a full two-year waiting period.
Important note: You cannot avoid a waiting period if you have been treated for melanoma within the last two years. If you pass during the waiting period, your beneficiaries will not receive the full death benefit; instead, they will receive the refund of all your premiums plus interest.
You have melanoma treatment for more than two years but not within the last three years
If your melanoma treatment is more than two years, but not within the last three years, you will have better options. Some burial insurance companies ask about melanoma within the previous two years. Because it has been more than two years since your last treatment, you can honestly answer no to the melanoma health question.
If you fall under this category, you can be eligible for immediate coverage, and you have access to the company’s lowest rate.
You have melanoma treatment within the last three years
Congratulations! You are considered cancer free by most burial insurance companies. It’s very unusual for a final expense company to ask about melanoma or skin cancer beyond the three-year mark. Now you have the best option. You will easily qualify for immediate death benefit with most of the final expense companies.
POLICY OPTIONS IF YOU HAVE MELANOMA
Guaranteed Issue Life Insurance
If you currently have melanoma or your melanoma treatment is less than two years guaranteed issue life insurance is your only option.
There are several burial insurance carriers where underwriting is not concerned with melanoma or skin cancer. In fact, they don’t even ask about it! These no exam no questions burial policies are the next best choice for melanoma patients who will not get through traditional underwriting.
Benefits of Guaranteed Issue Life Insurance
- Guaranteed approval when you apply
- There are no medical exams
- There are no health questions to answer
- Fixed monthly premiums
- Guaranteed fixed death benefits to beneficiaries
- Policy not cancelable
- The policy will last a lifetime
- You can accumulate cash value
- The death benefit is tax-free
However, there are some drawbacks to guaranteed issue policies. The death benefit is lower than life insurance with underwriting because this plan is only designed to cover final expenses. The coverage amounts are commonly limited to a maximum of $25,000, and the death benefit is graded (two-year waiting period). This provision is a way for the carriers to provide coverage for high-risk applicants while limiting their risk.
Level Death Benefit
If your melanoma treatment is over two years, you can qualify for level death benefit with full first-day coverage.
The death benefit payout is the same through the whole duration of the policy. It does not matter when you pass away, be it the first or the last year of your policy. Level death benefit has the largest death benefit, and it has no waiting period.
The level death benefit policy option is typically cheaper than guaranteed issue life insurance. We always try to get our clients level death benefit with immediate coverage, but sometimes this cannot happen particularly if your melanoma diagnosis is very recent or less than two years.
HOW CAN FUNERAL FUNDS HELP ME?
Trying to find a policy with melanoma needn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.
If you have a health history of melanoma, let us help you; we will work with you side by side to find a plan that fits your needs.
We will work with you every step of the way to find the plan that fits your financial requirements and budget. You need not waste your precious time anymore searching for multiple insurance companies because we will do the dirty work for you.
We will shop your case to different insurance carriers and get you the best price.
We work with many A+ rated insurance carriers that specialized in covering high-risk clients like you. We will search all those companies to get the best rate. We will match you up with the best burial insurance company that gives the best rate.
We will assist you in securing the coverage you need at a rate you can afford. So, if you are looking for melanoma funeral insurance, or melanoma burial insurance, or melanoma life insurance, we can help. Fill out our quote form on this page or call us at (888) 862-9456 and we can give you an accurate quote.