American National
John Hancock

Life Insurance with Thyroid Cancer

Have you or a loved one battled thyroid cancer?  If so, you’re probably curious if you will be able to obtain a life insurance policy.  The current underwriting guidelines have made it possible for those who have been affected by thyroid cancer pending certain factors.  Due to the improvement in modern medicine and the higher survival rates insurance companies are more willing than ever to approve potential life insurance candidates.

Before diving into the intricacies of the detailed underwriting process, there are some broad guidelines in place that should be acknowledged before moving forward.  First, it is vital that treatment for thyroid cancer, such as surgical excision and iodine treatment, has been performed. Similarly, it is encouraged to have continuous follow-up treatment to exhibit that the cancer shows no signs of coming back.  There are many complexities that are involved in the underwriting process, but there are two main factors that will hold a lot of weight when insurance companies will be determining risk class.  These determinants are the type and stage of thyroid cancer

The Types of Thyroid Cancer

There are a few different subtypes of thyroid cancer, such as Papillary, Follicular, Medullary, and Anaplastic.  The most common subtype of thyroid cancer is the Papillary subtype.  Of those who are afflicted with thyroid cancer, 85% are diagnosed with having Papillary thyroid cancer.  This type of thyroid cancer just happens to be the type that is treated most leniently by insurance companies as they have been known to give out preferred rates to those who have suffered from this type of thyroid cancer. Follicular thyroid cancer survivors usually have second highest survival rates and therefore normally obtain the second-best ratings from insurance companies behind those who had Papillary thyroid cancer. Factors such as the size of the tumor, the type of treatment, and your age still play a role in what rating one could receive from an insurance company when applying for life insurance. After Follicular thyroid cancer, the type that is likely to be approved with the third highest approval is Medullary thyroid cancer. This subtype is normally hereditary and getting approved for coverage is based on the usual factors, the size of the tumor, treatment, age, and the stage of the thyroid cancer.  The fourth subtype of thyroid cancer is Anaplastic thyroid cancer.  It is considered to the most dangerous and most aggressive of the subtypes.  If you have been cancer free of this subtype for a substantial amount of time there have been cases where survivors have been approved.

The Stage of Thyroid Cancer

A popular method that is employed by life insurance companies to produce a risk class rating is called TNM.  During this process, the underwriters will determine the stage of thyroid cancer based on the size of the Tumor, Node, and Metastasis. As a result of this process, the insurance company will determine what stage thyroid cancer you are afflicted with and will directly influence the risk class rating you will receive.  In addition to the stage of thyroid cancer, insurance companies will investigate the date of your diagnosis, the types of treatments you received, your overall health, and if you are a tobacco user to produce your final health rating.  If you have any questions or concerns regarding your chance of being approved for a life insurance policy please give us a call at 212-573-5564 or fill out a quote request and we will be in contact with you shortly.