How Do Certain Thyroid Conditions Affect Buying Life Insurance?

July 21, 2021
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Every individual has a thyroid hormone that helps all the organs work well. The thyroid hormones travel from the thyroid gland to all the body parts and function therein. These hormones control the metabolism in your body and ensure that all the organs function well. Thus, thyroid hormones are important for the body, but having a thyroid gland that makes more thyroid hormones than necessary or makes less thyroid hormone than necessary, means there is some problem which needs a medical inspection. Thyroid Conditions has become a common condition in a lot of individuals, it is curable and there is nothing to panic about.

Every individual with a thyroid condition is eligible to purchase a life insurance. The life insurance cover will take this aspect into consideration and provide a premium according to the same. For an applicant, medical tests are necessary to prove that the condition is not serious. The two main thyroid conditions include- thyroid nodule and thyroid cancer. Based on the criticality of the applicant, the insurance company will make a decision. The underwriters will consider various factors that include the age of the applicant as well as medical history of the family, before making a decision about the life insurance.

Having thyroid hormone levels that are too high or too low could mean a problem. A few of the thyroid problems include:

1. Goiter, which is a thyroid condition that causes a visibly enlarged thyroid gland, often causing difficulty swallowing or breathing.

2. Hyperthyroidism occurs when your thyroid gland makes more thyroid hormones than your body needs. Symptoms include rapid weight loss, high blood pressure, anxiety and insomnia.

3. Hypothyroidism also occurs when your thyroid gland does not make enough thyroid hormones. Symptoms include weak or slow heartbeat; muscular weakness; constant fatigue; weight gain; depression; slow reflexes; sensitivity to cold; thick, puffy, or dry skin; slowed mental processes and poor memory; and constipation.

  • Thyroid cancer has five different types, most are very curable.
  • Thyroid nodules is an abnormal growth of thyroid tissue.
  • Thyroiditis is an inflammation of the thyroid gland.

As with any other insurance, life insurance has a critical role to play with thyroid. Thyroid conditions have an impact on the insurance as well as the premium amount. Given below are two thyroid conditions that affect the life insurance policy.

Thyroid nodule and life insurance: As explained above, a thyroid nodule is an abnormal growth of the thyroid tissue that occurs to one in 15 women and one in 40 men. The majority of the thyroid nodules are non-cancerous and it increases with age. The tissue is usually developed by the time an individual is 50 years old and most of them are cysts which are filled with fluid and less with tissue. The probability of the occurrence of a thyroid nodule increases with an increase in age. When it comes to a life insurance, the underwriters will look at the family history of the applicant. A positive life insurance cover can be offered if there is no medical history of cancer of the applicant or his family, the size of the nodule is stable and there are regular doctor follow ups. It is absolutely possible to get an insurance cover offer with a thyroid nodule condition.

Thyroid Cancer and Life Insurance: Thyroid cancer is common to occur in women as compared to men. The cases of thyroid cancer are constantly increasing year after year. The different types of cancer are listed below:

* Papillary – This is the most common type of thyroid cancer. Papillary, papillary-follicular, and follicular are considered “differentiated” and have a good prognosis, particularly at ages 20 to 40. Unfavorable pathological subtypes of thyroid cancer include tall cell, columnar, solid (trabecular), clear cell, and diffuse sclerosing.

* Follicular – This is the second most common type. Follicular cancer that is “widely invasive” (as opposed to “minimally invasive”) through the capsule or showing vascular invasion tends to be more aggressive at presentation.
* Medullary – This type makes up about 3% of thyroid cancer cases. Medullary cancer appears sporadically, as part of familial medullary cancer, or as part of multiple endocrine neoplasia (MEN) 2a and 2b.  Stage I medullary cancer has a good prognosis, while higher stages do not.

* Anaplastic – This type is the least common and has the highest mortality rate.

An insurance company will look at a range of factors while examining an applicant with a thyroid cancer. These factors include the type of cancer, age of an applicant, pathology, the type of treatment performed, any remissions, any recurrence and any complications from the treatment. The insurance company aims to make sure that you are covered under medication and not suffering from a major illness. Hence, they will try to look at all the aspects of your thyroid condition and ensure that it does not have a huge impact on your health.

It is important to note that every individual with a thyroid condition is eligible for a life insurance. The insurance company underwrites the policy based on the medical condition and the family history of the applicant. The premium might be escalated or an add on for the illness could cost the life insurance a little more than expected. Insurance companies provide solutions for applicants with a medical history and underwrite their policy accordingly. Regular checkups and no history of cancer ensure that the application will be approved and the life insurance will be issued.

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