When applying for life insurance, the insurer will look at many factors about an applicant prior to approving them for coverage. This is because the insurance carrier wants to know just how much of a risk it is taking on.
Some of the primary criteria about a potential insured include the person’s age, health, and medical history. However, there are also some other areas of importance. These can include the medications that a person is taking. This is because some drugs can pose potential side effects that can be potentially harmful to the individual. In other cases, however, the medication may be considered safe. One drug that underwriters may take a closer look at is Synthroid. If you have diabetes or you are looking for life insurance with high cholesterol, we have options for you as well. We can help you find the coverage you are looking for.
How Taking Synthroid Can Affect Your Life Insurance Application
Synthroid is a replacement for a hormone that is typically produced by the human thyroid gland. This particular hormone is used in regulating the body’s energy, as well as its metabolism. The medication Synthroid – also sold under the brand names Levoxyl, Levothroid, Tirosint, and Unithroid – is oftentimes prescribed to individuals when their thyroid is not producing enough of this hormone on its own.
The medication can be used for the treatment of hyperthyroidism – which refers to having a low thyroid hormone. However, it can also be used in treating and / or preventing goiters, which are enlarged thyroid glands. These are caused by a hormone imbalance. Goiters can also be caused by surgery, cancer, and / or by radiation treatment.
The good news is that even though a life insurance underwriter will usually view the application more thoroughly while taking Synthroid, the effect on a person’s qualifying for coverage is oftentimes very little. This means that, provided he or she is otherwise healthy, qualification is usually not affected, nor is the premium rate, based on taking this drug alone.
What the Life Insurance Underwriters Will Want to Know When You Are Taking Synthroid
When applying for life insurance while taking Synthroid, the life insurer will want to review your application for coverage – which will outline basic information such as your age, gender, and overall health details. The underwriters will also most likely need to know more in-depth details regarding your medication. Therefore, you may be asked some or all of the following regarding your Synthroid prescription:
- When were you first diagnosed with your thyroid condition?
- What is your current health condition (i.e., the condition that prompted the prescription for the Synthroid)?
- What was the amount of your initial dosage of Synthroid?
- Are you taking more Synthroid than you have in the past?
- What steps are you taking to help manage your thyroid issue?
- Are there any recent tests or diagnostic labs that have been completed recently?
As is the case with most applicants, you will have to go through a medical exam prior to receiving coverage. They will also obtain a blood and urine sample, which will be tested by the insurance company for additional risk factors. If you are concerned because you have high blood pressure, don’t let that discourage you in your search. There are companies who offer life insurance with high blood pressure.
If the carrier notices something abnormal with the results of your samples they could ask to see your medical records, and what they find could help gain a better view of what your health looks like. Once all the analysis is completed they’ll issue you the final quote and will let you know how they’re rating you.
How Much Will Your Insurance Coverage Cost
In most cases, the fact that an applicant takes Synthroid will not affect his or her ability of getting insured. Therefore, if you are in what is considered to be average health, then you could likely obtain a Standard issued life insurance policy – and likewise, Standard, or average, premium rates.
A no medical exam policy might be the top choice for you if you can’t get insured under a standard policy. These plans, because there is no medical exam requirement, do allow for many people with medical conditions to still obtain the coverage that they need. The premiums can be quite a bit higher for this coverage – however; it can provide the protection and the peace of mind that you are seeking.
Where and How to Obtain Quotes for Life Insurance While Taking Synthroid?
There are a few routes in finding competitive life insurance quotes. You can either contact multiple agents and ask them to give you quotes on policies and then spend time answering the same questions from each agent or agency. Some of these agents might can show you more than one quote, but the fact is most of them only work for one life insurance carrier.
The best way to go is using us to get every quote you want almost immediately. Our quoting form, and agents work efficiently to make sure you are shown all of the options that make the best sense for your budget and plan.
If you are ready to get started we’d love to help! Reach out to us by calling 888-229-7522.