Life insurance and thyroid cancer history can be a tricky situation. In the not-so-distant past, life insurance companies would be highly concerned about any form of cancer, including thyroid cancer. However, as modern medicine has advanced, the survival rates of cancer have increased and life insurance companies have loosened their underwriting on thyroid cancer as a result.
Can You Get Life Insurance After Thyroid Cancer?
Simply put, it is possible! Although, approval for life insurance after thyroid cancer depends on a number of factors, such as the type of thyroid cancer you had. There are multiple types of thyroid cancer; papillary thyroid cancer, follicular thyroid cancer, Hurthle cell thyroid cancer, medullary thyroid cancer, anaplastic thyroid cancer, and parathyroid cancer.
Wow, that is a lot of different types! Each form of thyroid cancer will have a different effect on your life insurance rates, but this blog will focus on the more common forms that afflict the public, which are papillary thyroid cancer, follicular thyroid cancer, medullary thyroid cancer, and anaplastic thyroid cancer.
Papillary Thyroid Cancer and Life Insurance – Best-case Standard Rates!
Papillary thyroid cancer is the most common type of thyroid cancer and fortunately, the easiest to qualify for life insurance with. In many cases, if the papillary thyroid cancer was caught in the earlier stages, you can be eligible up to a standard health class once your treatment has ended. The later stages of papillary thyroid cancer may result in substandard rate or even a postponement or decline of coverage.
Follicular Thyroid Cancer and Life Insurance – Best-case Standard Rates!
Follicular thyroid cancer is your next most common type of thyroid cancer and shares a similar underwriting treatment to papillary thyroid cancer. The long-term survival rates are high with early detection and treatment. If caught early and treated, up to a standard health class is possible for you.
The one exception to this would be Hurthle cell thyroid cancer, also known as oncocytic thyroid cancer. This is a rarer form of follicular thyroid cancer, but more life-threatening. Most life insurance companies will either decline or postpone your application for life insurance with Hurthle cell thyroid cancer
Medullary Thyroid Cancer and Life Insurance – Most Likely Postponement.
While medullary thyroid cancer is rare, only 3% of thyroid cancer cases are medullary, it can be difficult to both treat and detect. If you were diagnosed with medullary thyroid cancer, the life insurance company will be conservative when issuing you a policy. If you are made an offer, it usually will be at a substandard rate. Most likely, the life insurance company will postpone your application 3-10 years after your treatment to be sure the cancer will not return. A decline for coverage is possible as well.
Anaplastic Thyroid Cancer and Life Insurance – Most Likely a Decline.
Anaplastic thyroid cancer is also rare, approximately two percent of thyroid cancer cases, but it is the most life-threatening type of thyroid cancer that you can have. Anaplastic thyroid cancer means your cancer has progressed to stage 4. As a result, you are not insurable with traditional life insurance. Guaranteed life insurance might be your only option here.