In this article, we wanted to take a moment to answer some of the most common questions we get from folks applying for life insurance after being diagnosed with Hashimoto’s Disease.
Questions that will be directly addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Hashimoto’s Disease?
- Why do life insurance companies care if I’ve been diagnosed with Hashimoto’s Disease?
- What kind of information will the insurance companies ask me or be interested in?
- What rate (or price) can I qualify for?
- How can I help ensure I get the “best life insurance”?
So, without further ado, let’s dive right in!
Can I qualify for life insurance if I have been diagnosed with Hashimoto’s Disease?
Yes, individuals who have been diagnosed with Hashimoto’s Disease can and often will be able to qualify for a traditional term or whole life insurance policy. They may even be able to qualify for some of the best no-medical exam life insurance policies currently on the market at a Preferred rate!
The only problem is…
When left untreated or poorly treated, Hashimoto’s Disease can cause some to suffer from some pretty significant complications, which is why most life insurance companies are probably going to want to ask you a series of questions about your Hashimoto’s Disease before making any definitive decisions about your life insurance application.
Why do life insurance companies care if I’ve been diagnosed with Hashimoto’s Disease?
Most life insurance companies aren’t going to be all that worried about the fact that an individual has been diagnosed with Hashimoto’s Disease because, at the end of the day, this is a very “treatable” condition and because, in most cases, it’s not going to cause someone to suffer from any severe consequences.
However, when left completely untreated, Hashimoto’s disease can cause one to suffer from high cholesterol, which in turn can cause someone to develop all sorts of cardiovascular diseases, including:
This is why even though most life insurance companies aren’t going to “care” if an individual has been diagnosed with Hashimoto’s Disease, they’re still going to ask you a few questions about it, as well as try and learn whether or not you may be at risk for developing any cardiovascular disease later on.
For this reason…
We wanted to take a moment and discuss exactly what Hashimoto’s disease is, as well as highlight some of the most common symptoms of this disease so that we can gain a better understanding of what an individual life insurance underwriter will be looking for when making their decision about your life insurance application.
Hashimoto’s Disease Defined:
Hashimoto’s disease, or Hashimoto’s Thyroiditis, is an autoimmune disease that targets explicitly one’s thyroid gland. As a result, individuals will begin exhibiting symptoms of hypothyroidism, which fortunately can usually be treated quite easily using a synthetic form of thyroxine (T-4) such as Levothyroxine or Armour.
Common symptoms of Hashimoto’s disease may include:
- Dry skin,
- Constantly feeling cold or chilly,
- Unexplained weight gain,
Now, at this point, we usually like to take a moment and remind folks that nobody here at IBUSA has any “official” medical training, and we’re certainly not doctors. All we are is a bunch of life insurance agents who are really good at helping folks with pre-existing medical conditions like this one find and qualify for the life insurance coverage they are looking for.
It’s not so great if you’re seeking answers to specific medical questions. In such cases, we recommend contacting an actual medical professional with the training to help. For everyone else, you’re in luck because now we’re going to get into some of the “nitty-gritty” about what you may or may not be able to qualify for.
What kind of information will the insurance companies ask me or be interested in?
Typical questions you’ll likely be asked may include:
- When were you first diagnosed with Hashimoto’s Disease?
- Who diagnosed your Hashimoto’s Disease? A general practitioner or a specialist?
- What symptoms (if any) led to your diagnosis?
- Have you been diagnosed with any other pre-existing medical conditions?
- Have you ever suffered from a heart attack or stroke?
- What medications (if any) are you currently taking?
- What are your current height and weight?
- In the past two years, have you been admitted to a hospital for any reason?
- 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?
Now, as you can see, there are quite a few factors that can come into play when trying to determine what kind of “rate” an individual might be able to qualify for after having been diagnosed with Hashimoto’s Disease. And this isn’t even factoring in other variables that will undoubtedly come into play, such as one’s:
- Family medical history,
- Driving record,
- Criminal history (or lack thereof),
- Possible use of any tobacco or nicotine products,
This is why knowing what kind of “rate” you might qualify for is almost impossible without first speaking with you directly. That said, however, one can make a few “assumptions” about those diagnosed with Hashimoto’s Disease, which will generally hold true and hopefully give you a better “idea” about what kind of rate you might qualify for.
Suppose you have been diagnosed with Hashimoto’s Disease, and you are treating it successfully. It doesn’t appear that you have developed any potential cardiac issues. In that case, it is reasonable to assume that most life insurance companies aren’t going to use your previous “Hashimoto diagnosis” against you.
This means that in cases like these, what you’ll usually find is that whatever “rate” you would have been able to qualify for before being diagnosed with Hashimoto’s Disease ought to be the same rate that you would be able to qualify for AFTER having been diagnosed with Hashimoto’s Disease.
“Which is great!”
Now, as for the rest…
Of folks who have been diagnosed with Hashimoto’s Disease and do seem to show signs of some cardiovascular disease, what you’re typically going to find is that these new “symptoms” or your Hashimoto’s disease (if that is what they are) are typically going to take over as the most critical factor in determining what you will and won’t be able to qualify for.
The good news is that regardless of your situation, we here at IBUSA can help because we have tons of experience helping folks with pre-existing medical conditions like yours. We are committed to helping all our clients find the “best” life insurance policy they can qualify for. This brings us to the last topic that we wanted to take a moment and discuss, which is…
How can I help ensure I get the “best life insurance”?
In our experience here at IBUSA, we have found that usually, the folks who seem to see the “best” life insurance policy for them are those that:
- Take their time reviewing their options.
- Ask a lot of questions.
Seek out those life insurance agents who not only have experience working with individuals who have been diagnosed with a wide variety of pre-existing medical conditions but also have access to dozens of different life insurance companies so that when it comes time to help a more “challenging” case, they don’t have to rely on a…
“One size fits all approach!”
Fortunately, this is precisely what you’ll find here at IBUSA!
Now, will we be able to help out everyone who has been previously diagnosed with Hashimoto’s Disease?
No, probably not. But what we can tell you is that in addition to offering a wide variety of different term and whole life insurance policies, IBUSA has also worked very hard to establish relationships with many of the Best Burial Life Insurance Companies as well so that if someone isn’t able to qualify for a traditional life insurance policy, chances are there may be some other “type” of product that you CAN qualify for.
So, if you’re ready to see what options might be available, call us!