Life Insurance for Armour Thyroid users.
In this article, we wanted to take a moment and try and answer some of the most common questions we get from folks applying for life insurance after they have been prescribed Armour Thyroid to treat Hypothyroidism and Goiters as well as try to prevent them from occurring.
Armour Thyroid can…
Also be used to help treat a variety of “other” pre-existing medical conditions which may be caracterized by a reduced the amount of natural thyroid hormones within the affected patient.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Armour Thyroid?
- Why do life insurance companies care if I’ve been prescribed Armour Thyroid?
- What kind of information will the insurance companies ask me or be interested in?
- What rate (or price) can I qualify for?
- What can I do to help ensure that I get the “best life insurance” for me?
So, without further ado, let’ dive right in!
Can I qualify for life insurance after I’ve been prescribed Armour Thyroid?
Here at IBUSA, we have found that the most common reasons why an individual might be prescribed Armour Thyroid are reasons which won’t have that much of an effect on one’s life insurance application.
The problem is…
Amour Thyroid can also be prescribed to folks who have been diagnosed with Thyroid cancer as well which is why insurance companies are always going to be a “bit” hesitant to make any kind of decisions about an individuals life insurance application once it has been determined that they have been prescribed Amour Thyroid, at least in the beginning.
The good news is…
That even when it comes to individuals who have been diagnosed with thyroid cancer, once all the specifics are divulged, even these folks will often be able to qualify for a traditional term or whole life insurance policy due to the extremely high survival rates these cancers produce.
Why do life insurance companies care if I’ve been prescribed Armour Thyroid?
Life insurance companies care about the fact that an individual has been prescribed Armour Thyroid because knowing this will provide a life insurance underwriter with at “roadmap” on what questions he or she will need to know prior to being able to make a decision about whether or not to approve your life insurance application.
It’s true that an insurance underwriter will have many other tools in his or her “toolbox” to provide him or her with such a “road map”, having access to one’s complete prescription medication history is often the most effective and efficient way of getting started.
What kind of information will the insurance companies ask me or be interested in?
The most important things that a life insurance underwriter wants to know when it comes time to learning about your “hypothyroidism” is: What is causing it? And what effect is it having on your day to day life?
To find out the answers to these questions, they’ll usually ask you a series of questions that may look something like this:
- Why have you been prescribed Armour Thyroid?
- Who prescribed your Armour Thyroid? A general practitioner or a specialist?
- Have you been given a definitive diagnosis for your condition?
- Is your hypothyroidism your “main” pre-existing medical condition, or is it simply a symptom of some other medical condition?
- Have you ever been diagnosed with thyroid cancer?
- Is Armour Thyroid the only prescription medication that you are currently taking now?
- Do you currently suffer from any symptoms associated with your condition?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
What rate (or price) can I qualify for?
Here at IBUSA, what we’ve typically found when helping folks apply for a traditional term or whole life insurance policy after being diagnosed with hypothyroidism or after having been prescribed Armour Thyroid is that for the most part individuals will still be able to qualify for a Preferred rate provided that they aren’t experiencing any significant symptoms due to their condition.
This seems to also hold true for folks who have been diagnosed with other “thyroid conditions” including Grave’s disease and thyroid cancer provided that they you have completely recovered form either of these medical conditions and you’re remained “disease free” for some predetermined period of time which will ultimately be determined by the individual insurance company that you choose to apply with.
Which brings us to the next topic that we wanted to take a moment and discuss here in this article which is…
What can I do to help ensure that I get the “best life insurance” for me?
In our experience here at IBUSA, what we have found that works best for folks who have been diagnosed with a pre-existing medical condition where the “severity” of the condition is often “subjective” is for the applicant to make sure that they first find a true-life insurance profession who will work as an advocate for you.
Such an agent…
Will not only help guide you through the application process but also be perfectly “frank” with you about what options may or may not be possible for you.
You’ll also want to make sure that the very same agent you have chosen has access to dozens of different life insurance companies because after all, it really doesn’t matter how “great” of a life insurance agent you might have if they don’t have access to the “best” life insurance policy for you! Now does it?
You’ll want to make sure that you’re completely honest with your life insurance agent prior to applying for coverage. By doing so, you will be helping him or her narrow down what options might be the “best”
So, what are you waiting for? Give us a call today and see what we can do for you!