Receiving a diagnosis of metastatic melanoma can be overwhelming—emotionally, physically, and financially. For individuals facing advanced skin cancer, getting cash from life insurance with metastatic melanoma may offer an unexpected financial lifeline. Through a viatical settlement, policyholders living with late-stage illness can often sell their life insurance policy for a lump sum payment, which can be used to help cover treatment costs, living expenses, or personal goals during this challenging time.
Understanding Metastatic Melanoma
Melanoma is a serious form of skin cancer that becomes far more dangerous once it spreads beyond the skin to other organs, such as the lungs, liver, or brain. This is referred to as Stage IV melanoma, or metastatic melanoma. At this stage, treatment becomes more complex and often involves a combination of immunotherapy, targeted therapy, radiation, or chemotherapy.
Common Treatments and Associated Costs
Modern treatments have improved survival rates for metastatic melanoma, but the financial burden can be heavy. Some commonly used treatments include:
- Immunotherapy:
- Keytruda (pembrolizumab)
- Opdivo (nivolumab)
- Yervoy (ipilimumab) — sometimes used in combination with nivolumab
- Targeted Therapy:
- For patients with a BRAF gene mutation:
- Tafinlar (dabrafenib) + Mekinist (trametinib)
- Zelboraf (vemurafenib) + Cotellic (cobimetinib)
- For patients with a BRAF gene mutation:
- Radiation Therapy:
- Often used to manage symptoms or treat brain metastases
- Chemotherapy:
- Though less commonly used today, some patients may still receive dacarbazine or temozolomide.
These treatments can be expensive, particularly when combining multiple therapies or when travel and lodging are needed to access care at a cancer center.
How a Viatical Settlement Can Help
If you’re living with metastatic melanoma and have a life insurance policy, you may qualify for a viatical settlement. This option allows you to sell your policy to a viatical settlement buyer in exchange for a cash payout that is often significantly more than the policy’s surrender value.
You can use these funds for:
- Covering out-of-pocket treatment costs
- Paying for clinical trials or alternative therapies
- Managing living expenses or household bills
- Creating meaningful experiences with loved ones
Importantly, there are no restrictions on how the funds are used.
Who Is Eligible?
Eligibility for a viatical settlement typically includes:
- A diagnosis of a terminal or life-limiting illness (such as metastatic melanoma)
- A life insurance policy with a face value of at least $100,000
- A limited life expectancy, often under 24 months. Longer life expectancies can qualify for life settlements.
Both term and permanent life insurance policies may qualify, and even convertible term policies and policies with loans or reduced cash value can sometimes be sold.
Getting cash from life insurance with metastatic melanoma can bring both financial and emotional relief at a time when stability is needed most. A viatical settlement allows you to access the value of your life insurance now, rather than leaving it unused or allowing it to lapse.
If you or someone you love is facing the challenges of metastatic melanoma and want to learn more about qualifying for viatical settlements, please give us a call at 800-973-8258. We can assist you with getting a no-obligation policy appraisal to learn how much hidden value your existing life insurance may have.