Life Insurance with Hyperthyroidism.
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 having been diagnosed with Hyperthyroidism or an Overactive Thyroid gland.
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Hyperthyroidism or an Overactive Thyroid gland?
- Why do life insurance companies care if I have been diagnosed with Hyperthyroidism or an Overactive Thyroid gland?
- 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’s dive right in!
Can I qualify for life insurance if I have been diagnosed with Hyperthyroidism or an Overactive Parathyroid?
Yes, individuals who have been diagnosed with Hyperthyroidism can and often will be able to qualify for a traditional term or whole life insurance policy. In fact, some folks may even be able to qualify for a no exam term life insurance policy at a Preferred rate!
The problem is…
That when an individual is either unable or unwilling to properly manage their Hyperthyroidism, it can, over time, cause someone to develop some pretty serious complications! This is why before being approved for a traditional term or whole life insurance, one should be prepared to answer quite a few questions about their Hyperthyroidism.
Why do life insurance companies care if I have been diagnosed with Hyperthyroidism or an Overactive Thyroid gland?
Because suffering from Hyperthyroidism is a condition that is usually easily managed, it’s fair to say that most of the best life insurance companies are less “worried” that someone might have been diagnosed with Hyperthyroidism and is more “concerned” with how well they are managing their condition. This is why individuals who have their Hyperthyroidism well under control will “potentially” still be considered eligible for a Preferred rate.
This is also why…
We wanted to take a moment and discuss what Hyperthyroidism is as well as highlight some of the most common symptoms of this disorder so that we can get a better understanding of what a life insurance underwriter will be looking for when making his or her decision about your life insurance application.
Hyperthyroidism or Overactive Thyroid is a condition that occurs when one’s thyroid gland produces too much thyroxine (a hormone that is produced within the thyroid gland). As a result, many patients will begin experiencing a wide variety of different symptoms, including:
- An accelerated metabolism,
- Unexplained and/or unintentional weight loss,
- Arrhythmias and/or tachycardia,
- Heart palpitations,
- Frequent bowel movements,
- Heat intolerance,
Serious complications of Hyperthyroidism may include:
Hyperthyroidism is a condition that can usually be easily treated through a wide variety of different methods, including:
- Radioactive iodine,
- Anti-thyroid medications,
Which is why, most life insurance companies will still consider someone who has been diagnosed with Hyperthyroidism still eligible for a traditional life insurance policy.
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 just happen to be really good at helping folks with pre-existing medical conditions like this one, find and qualify for the life insurance coverage that they are looking for.
Not so great if you’re looking for answers to any specific medical questions. In cases like these, we would recommend that you contact a true medical professional who has 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?
Common questions you’ll likely be asked may include:
- When were you first diagnosed with Hyperthyroidism?
- Who diagnosed with Hyperthyroidism? A general practitioner or a specialist?
- What symptoms (if any) led to your diagnosis?
- How are you currently treating your Hyperthyroidism?
- Are you currently suffering from symptoms directly related to your Hyperthyroidism now?
- Have you been diagnosed with any other pre-existing medical conditions?
- Are you currently taking any prescription medications now?
- In the past two years, have you been hospitalized 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?
As you can see, there are a lot of factors that can come into play when trying to determine what kind of “rate” someone who has been diagnosed with Hyperthyroidism can qualify for. This is why it’s pretty much impossible to know what kind of “rate” you might be able to qualify for without first speaking with you directly.
That said, however…
There are a few “assumptions” that we can make about those who have been diagnosed with Hyperthyroidism that are applying for a traditional term or whole life insurance policy that will “generally” hold true.
If you are able to demonstrate that your Hyperthyroidism is well under control and that you’re not currently suffering from any symptoms of your disease, it’s reasonable to assume that you would “theoretically” still be considered eligible for a Preferred rate assuming that you would otherwise be able to qualify for such a rate.
As for the rest…
Of those who may not have their Hyperthyroidism totally under control or who may still be suffering from symptoms related to their disease, not all hope is lost. It just means that you probably won’t be able to qualify for a Preferred rate. It may mean that you may only be able to qualify for a Standard or “sub-standard” rate.
The good news is…
That regardless of your situation, we here at IBUSA can help because we have tons of experience helping folks with all sorts of pre-existing medical conditions like yours and are committed to helping all of our clients find the “best” life insurance policy that they can qualify for.
This brings us to the last topic that we wanted to take a moment and discuss, 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 usually the folks who seem to find the “best” life insurance policy for them are those that:
- Take their time reviewing their options.
- Ask a lot of questions.
And 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 helping a more “challenging” case, they don’t have to rely on a…
“One size fits all approach!”
The good news is that this is exactly what you’re going to find here at IBUSA!
Now, will we be able to help out everyone who has been previously diagnosed with Hyperthyroidism?
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 Final Expense Insurance Companies as well so that in the event that 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.