Grave’s disease is an autoimmune disorder which causes the thyroid gland to overproduce hormones.
The thyroid becomes enlarged causing anxiety, weight loss, and puffy eyes among other symptoms. If left untreated, it can quickly lead to heart problems, weak bones, and sometimes even death.
Fortunately, Grave’s disease is treatable. Medications and, in extreme cases, removal of the thyroid can help control the disorder and eliminate its symptoms.
Despite the treatability of Grave’s disease, many patients wonder how it affects their life insurance eligibility. Unlike many medical conditions, thyroid problems tend not to severely affect your life insurance coverage if you’re otherwise healthy.
As an independent life insurance agency, we can introduce you to those companies most likely to offer you coverage despite your thyroid condition.
Here’s what you need to know about finding affordable life insurance with Grave’s disease.
Buying Life Insurance with Grave’s Disease: A Guide
Over 3 million Americans are diagnosed with Grave’s disease every year, according to the American Thyroid Association.
The organization goes on to state the disorder is primarily triggered by the body’s immune system. In an attempt to fight bacteria and viruses, the body produces antibodies.
Unfortunately, some people’s bodies produce antibodies which attack their own tissues. In the case of Grave’s disease, they attack the thyroid cells and cause them to produce too many thyroid hormones.
The National Institute of Diabetes and Digestive and Kidney Diseases stresses the importance of seeking professional medical attention as soon as you first notice the symptoms of Grave’s disease. Starting treatment right away helps ensure the condition doesn’t become a major problem (and thus affect your life insurance eligibility).
The treatment for Grave’s disease relies on the use of medications. In certain scenarios, surgery must be used to actually remove the thyroid gland. Of particular note, is the disorder is highly treatable and treatments are almost always successful.
The success of treatments for Grave’s disease is great news for patients interested in life insurance. As long as you’re otherwise healthy, most life insurance companies don’t consider the disorder a very big risk.
It’s still beneficial to work with an independent life insurance agent to find those companies most likely to insure clients with Grave’s disease. We can help you find the lowest premiums possible for your specific condition.
Our Application Process
The process of life insurance underwriting can be confusing to the outside eye. Yet the main concepts are actually quite straightforward.
The main job of an underwriter is to assess the overall risk of each potential client. They look at overall health, lifestyle, and any medical conditions to ensure the applicant doesn’t have a lower-than-average life expectancy.
Fortunately, the vast majority of those with Grave’s disease are in the clear. As long as it wasn’t left untreated, the disorder doesn’t lower your life expectancy. Most underwriters don’t consider Grave’s disease a big risk factor.
All underwriters will ask a number of the same questions during the life insurance application process. These include:
Overall Health – How is your health aside from Grave’s disease? The healthier you are overall, the better your chance at receiving a higher rating.
Diet, Exercise, Lifestyle – A healthy diet and regular exercise mean a healthier body and mind. Underwriters value those who take care of themselves. Not smoking is essential to receive the best rates possible.
Date of Diagnosis – When were you first diagnosed with Grave’s disease? How early into its progression were you diagnosed? Were there ever any cancerous cells or history of cancer?
Condition History – What type of symptoms do you experience? When was the last time you experienced these? Have you ever been hospitalized because of Grave’s disease? Give as detailed a description of your condition history as possible.
Treatments – What maintenance medications are you taking? Did you receive surgery to remove the thyroid gland? List any other treatments.
Doctor Visits – How often do you visit the doctor for checkups? A recent visit is desired, especially if you took tests to measure your heart health.
Remember a medical exam is necessary to receive traditional coverage from a life insurance company. When it comes to Grave’s disease, this exam takes a particularly close look at your heart health.
Common Results To Expect
Grave’s disease affects each individual differently. The severity of the condition, and related complications, depends on how quickly and effectively treatment began.
Therefore, it’s difficult to assess the level of life insurance you’ll qualify for or how much you will pay. Yet looking at the averages, it’s very likely you’ll at least qualify for traditional coverage.
Those who received treatment early and are in great health otherwise might qualify for a Preferred rating. However, the vast majority of those in good health will receive a Standard rating. Remember a test must be taken which proves you don’t have any serious heart complications before this rating is given.
Patients with more serious cases can usually get away with a Sub-Standard rating. This is usually given to those with some complications, such as ventricular fibrillation. The symptoms must still be under control, however.
Those who don’t qualify for traditional coverage should seek alternatives options. We can help you explore guaranteed-issue life insurance and graded death benefit life insurance policies. These options cost more upfront and pay less as death benefits, but are still good alternatives to consider.
It’s also important to remember you don’t have just one chance to receive traditional life insurance. You can reapply on a regular basis. If your condition changes for the better, you might qualify for traditional coverage even if you were denied originally.
What to Do Next
Work with our independent life insurance agents to make finding the lowest cost life insurance all the easier.
We work with several of the top-rated companies in the country. We know which ones tend to accept those with Grave’s disease so you don’t waste your time applying to those who don’t.
Don’t shy away from life insurance just because of Grave’s disease – we’ll help you find low-cost coverage which is perfect for your personal situation.