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’re searching 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 take a closer look at the application of an individual who is applying for life insurance 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?
- Has the amount of your Synthroid dosage changed over time?
- Are you managing your thyroid condition in any other manner, such as via diet and / or exercise?
- Have you had any relevant testing performed over the past six months?
In many cases, those who apply for life insurance while taking Synthroid will need to take a medical exam. This consists of meeting with a paramedical professional (or paramed), who will take a blood pressure and a heart rate reading. 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.
The insurer may also wish to obtain copies of your medical records from your primary medical provider and / or from a specialist that you may see regarding your thyroid condition. These records can assist the underwriters in getting a clearer picture of your overall health.
After all of your health-related information has been received, and then the insurance company’s underwriters will be able to make a determination as to your life insurance policy, as well as a premium for your coverage.
How Much Will Your Insurance Coverage Cost
In most cases, the fact that an applicant takes Synthroid will not affect his or her ability to obtain the life insurance coverage that they need. This is especially the case if they are otherwise in good health. 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.
If you are in excellent health, and you also have a family history of excellent health as well, then you may even be able to obtain a preferred policy rating – and lower premium rates. This is the case, even with taking Synthroid.
However, if it is deemed that your health is lower than average – yet not poor enough to decline your application altogether – then you may still qualify for coverage, but it will likely be at a substandard policy class. This will come with a higher than average premium rate.
If it turns out that you are not able to qualify for a medically underwritten policy, then you could go the route of a no medical exam 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?
If you are in need of life insurance while taking Synthroid, then working with a company that has access to multiple insurers is likely your best course of action. We can help you to find the carrier that is right for you. This is because we work with many of the top insurers in the industry, and can offer the very best fit, at an affordable premium price. When you’re ready to move forward, just use the form on this page to get your first set of quotes.
Should you have any additional questions, please feel free to contact us directly via phone. We can be reached toll-free by dialing 888-229-7522. We understand that applying for life insurance while taking Synthroid may cause you some doubts. But the good news is that you do have many good options. So, contact us today – we’re here to help.