So you beat thyroid cancer and wonder if it is possible to get life insurance. The answer is yes, but of course it depends on certain factors. Unlike in the past life insurance companies are now approving cancer survivors at reasonable rates. It has a lot to do with higher survival rates and improvements in medicine.
To get life insurance with thyroid cancer there are few things that should be complete before even trying to move forward. First of all it is important that treatment has been completed such as surgical excision and iodine treatment. It is also important that you have continuous follow up after treatment to show that cancer is not coming back. Not always but sometimes you might have to wait a year or two after treatment is complete to even apply for a plan.
There are too many details to get into but let’s cover the basics of how life insurance companies will determine rates and eligibility. The most important factors we have seen are type and stage.
Types of Thyroid Cancer
When it comes to thyroid cancer there are few different subtypes like Papillary,Follicular,Medullary and Anaplastic. Up to 85% of people with thyroid cancer have the Papillary type and this happens to be the type that has the best prognosis especially in younger patients. If all else is good you can easily get preferred and standard rates with Papillary subtype of thyroid cancer. Follicular is second to Papillary type when it comes to survival rates and prognosis. Based on treatment type, size of the tumor and your age it is still possible to get standard rates with this type of thyroid cancer. Medullary type is the third in the group and is usually hereditary. Getting coverage with these type is only for people with the condition being at its less developed stage. Anaplastic is the last one also being the most aggressive and dangerous, only a small percentage have this type. Unfortunately you will not be able to get life insurance with this subtype unless a long time has passed.
Stage of Cancer
Life Insurance companies we use like to use a method called TNM. Basically they will determine a stage based on size of the tumor, node and metastasis status. Based on the information provided they will determine your stage which has a direct correlation on the type of rates they will give you. Overall life insurance rates with thyroid cancer will go from standard to substandard. Standard are average rates and substandard are a surcharge for a higher risk to the company.
In addition to this companies will want to know your date of diagnosis, treatments, overall health and if you are a smoker. When it comes to life insurance with history of thyroid cancer you should only work with an agency that specializes in this since a lot of companies will postpone or decline your application. Call us for a no cost consultation and we will scour over 60 top companies to get you the best plan. Feel free to call at 888-492-1967.
