We know that having an underactive thyroid isn't easy, I developed hypothyroidism after the birth of my third child, it took a long time for me to feel normal again. Our job is to listen to how your thyroid condition affects your daily living and match you with an insurer, that will give you the best terms possible for insurance.
Things we need to know:
Underactive thyroid Life Insurance is available with many insurers on the standard market, provided that your TSH levels are ok and your condition is stable. The insurer will want to know the cause of the hypothyroidism and the medications that you take to manage your symptoms. If your underactive thyroid is well controlled and does not affect your daily living, you should be able to get Life Insurance at standard rates.
Where there have been recent changes to your health, your TSH levels are not in the normal range, or you have secondary conditions e.g. goitre, high cholesterol, the insurer may offer Life Insurance at non-standard rates (premium increase). It is possible that insurers on the standard market may postpone your application, until your health stabilises. If this is the case, you may find a specialist Life Insurance policy is more suited to your needs, until your TSH levels return to normal.
Underactive thyroid Critical Illness Cover can often be arranged at standard rates with many insurers. Your hypothyroidism will need to be well controlled, with TSH levels within the normal range. If the underachieve thyroid has led to any secondary conditions, the insurer will want to know the severity of your symptoms and treatments taken to control these additional factors. Provided that your overall health is good and your health conditions don't affect your daily living, Critical Illness Cover should be available at standard terms.
For those with more complex health concerns and a TSH outside the standard range, Critical Illness Cover may be offered at non-standard rates in the form of a premium increase. You may find that a specialised policy is more appropriate for you, until your underactive thyroid stabilises.
Income Protection for people with an underactive thyroid is treated in a similar manner as the above policy types. Standard rates can be available if the condition is well controlled, there are no significant secondary illnesses present and there have been no other recent changes to your overall health. If your TSH is outside of the standard range, you may find that Income Protection is available at special terms, typically in the form of a premium increase.
If you find that Income Protection is not available to you due to your hypothyroidism or any other health factors, you may wish to consider Accident, Sickness and Unemployment Cover. This policy type is not medically underwritten, meaning that your health plays no factor in being able to have the cover. Accident, Sickness and Unemployment policies pay out a monthly income replacement for 12-24 months, if you are unable to work due to ill health or involuntary redundancy. Even though your health is not a factor when applying for the cover, any pre-existing medical conditions will be excluded from the policy claims set.
Are you planning on travelling abroad? It is important that you make sure that your travel insurance fully covers you for travel with an underachieve thyroid. We have teamed up with a specialist travel insurance broker who can help you find the right cover for you. Find out more here.
What is Underactive Thyroid
Underactive thyroid (hypothyroidism) occurs when the body produces insufficient levels of the thyroid hormone, thyroxine (T4). Hypothyroidism tends to be a result of the immune system attacking the thyroid gland, but can also be the result of surgery or other thyroid related illnesses. The condition causes many of the bodies functions to slow down which can result in weight gain, general tiredness and depression.
Also: Autoimmune thyroiditis, hypothyroidism
Possible Effects on Lifestyle
Some potential problems experienced by individuals who have an underactive thyroid include:
Medications and Treatments
Further Reading and Research
1. I have an underactive thyroid and I've been declined life insurance through my broker. Do you have any options for me?
Yes we do. It is unusual to be declined life insurance because of an underactive thyroid, so we can only guess that there has been a recent change in your health that has led to the decline. Without more details it is hard to know why you were declined. But, there should be options for you on the standard insurance market, and if not, there are specialist insurers that will be able to offer you life insurance.
2. I've just been told that I have an underactive thyroid, I arranged my life insurance two months ago. Do I need to tell the insurer?
Maybe not. Insurance applications are based upon your health at the time that you apply for the insurance. So you can take out life insurance and find out the next day that you have cancer, and in most cases you do not need to tell them. There is a bit of a but though. If, you were having symptoms and investigations before you took out the life insurance, then you should have made the insurer aware of this. If you didn't, then it is best that you speak with your insurance provider and tell them that you have been diagnosed with an underactive thyroid; it could invalidate your policy if you don't.
3. I need life insurance but I have an underactive thyroid. Which insurer should I go to?
That's a tricky one to answer. No one insurer is specifically good for people with thyroid conditions. One insurer may be brilliant for people with an underactive thyroid, but if you are a smoker, they may not like that combination. Another may be ok for people with hypothyroidism, but amazing for people with higher bmis, which could be a much better option. There are lots of factors about you that insurers consider when deciding what to offer you for Life Insurance. No two people are the same, so it's not possible to say for definite who will be the best insurer for you. As brokers, we look at the whole picture of you and figure out which insurer best suits you.
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