thyroid disease

Life Insurance With Grave's Disease & Thyroid Disorder

By James Tobin, CFP®

Last Updated on

Critical Takeaways

  • Impact on  Underwriting Class: Minor if well controlled,Significant if uncontrolled
  • Preferred  Rates Possible 
    Table Ratings Possible
  • Rate impact based on severity and frequency of symptoms, and.any prescription drug use
thyroid disease

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Expert Review Of  Life Insurance With Grave's Disease & Thyroid Disorder

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Reviewed by

Jim Tobin, CFP®

Why you can trust this review

At Life Insurance Help Desk, we value our editorial independence. We keep our reviews strictly factual so you can use them to make informed decisions. Life insurance carriers referred to on this site do not approve reviews. 

If you are looking to find out how to get the best deal on life insurance with Grave's disease, you have come to the right place. 

Just keep reading

While you may know the tricks of managing your overactive thyroid, you may not know how thyroid disorders affect life insurance applications.

Fortunately, when managed well, Grave's disease does not pose a serious concern for life insurance underwriting.

Much like high blood pressure, and high cholesterol, insurers generally will make good offers if the condition is well controlled.  

The purpose of this article is to provide a brief background on Grave's disease and the information necessary to getting the best life insurance rates with the condition. 

Can I Be Approved For Life Insurance With Grave's Disease?

Every applicant for life insurance with overactive thyroid can be approved for a policy.

However, the type of policy that can be approved, and the rates charged, will depend on the nature of your hyper thyroid, how well it's controlled,  and your overall health.

Because the underwriting standards are different for each type of policy, this review of  life insurance options with Grave's/goiter  is broken into  three sections:   (click button to go directly to section)

Best Price

Strict Underwriting

Exam - Yes

Good Price

Strict Underwriting

Exam - No

More Expensive

Easy Underwriting

Exam - No

What Information Will  Life Insurance Companies Want To Know?

In order to underwrite your application life insurance carriers will need to know the symptoms that you  have experienced, the treatment undergone, including prescription drugs used, and any medical follow up. See list below to get started:

Date of Diagnosis

Age at Diagnosis

Affected Systems

Treatments Undergone (list of medications)

Dates of Treatments (is there regular follow up?)

Severity of Symptoms

Other Health Issues

Will I Need To Take An Exam For Over Active Thyroid Life Insurance?

In order to get the best rates possible you may need to take an exam. Well controlled cases of thyroid disease will be eligible for no-exam underwriting. However, applications seen as more serious  will require an exam. 

The exam is a para-medical exam that collects blood and urine samples. The exam is administered at no cost by a travelling nurse and can be done at your choice of location.

If it turns out that simplified issue or guaranteed issue policies are the best fit for your application, no exam will be required. See How Term Life Insurance Works for more on the exam. 

How Much Will My Life Insurance Cost And How Exactly Are My Rates Affected By My Thyroid Levels?

The rates you pay for tem insurance are dependent on the underwriting class you are graded by the carrier. Well controlled Hyper thyroid applications are generally going to be rated as standard or better. This issue is discussed using rating guides and  pricing samples.  Sample pricing for simplified issue and  guaranteed issue policies is provided in the corresponding links.

How Accurate Are The Quotes I Get From Your Quote Tool? 

The quotes you receive from the quote tool on this site are 100% accurate for the information inputted. That is to say, if you get the rate class correct- your rate will be correct. The problem with online tools is that people generally think they are inn better or worse shape than is reality.   

If you are unsure about rate class you should choose a range and hope to be pleasantly surprised. Alternatively, you can fill out the customized quote form and we will get in touch with you as soon as possible.

How Can I Improve My Underwriting Rating And Lower My Life Insurance Cost?

The most effective ways to improve your life insurance rating are to use an agent that has access to the companies that will view you most favorably and to take care of your health. 

See Why to use Independent Agent when Shopping for Life Insurance with Grave's Disease  to better understand the reason to use an independent agent.

As far as lifestyle goes, if you take diet and exercise seriously along with limiting alcohol and quitting smoking (if you smoke), it should be reflected in your blood markers. 

If you have a autoimmune medical condition like overactive thyroid, documenting compliance with medical advise and any medications is very important. Obtaining Having a physicians letter stating that you have been compliant and improving is helpful.

Do these things and you can't help but improve your health and your life insurance rating.  

What Are The Best Companies for Life Insurance With Overactive thyroid?

Life insurance companies have different appetites for specific risks. These appetites are reflected in underwriting and ultimately pricing. Simplified issue carriers will be state dependent and  three of the better known term carriers for dealing with Grave's/ Goiter/ thyroid disorders  are Prudential, American General (AIG), and Banner.

However, risk appetite can, and does, change and the only way to guarantee the best possible deal is to work with an experienced independent agent. see the case study here to get a clear understanding.

What Is The Application Process For Life Insurance With Thyroid Disorder?

Regardless of your pre existing condition, the application process is largely the same. The life insurance application process is an eight step process that includes choosing your terms, picking a carrier, submitting to the exam,  and signing documents (digital signatures accepted). The entire 8 step process is laid out for you here

Traditional Term Life Insurance With Grave's/ Goiter / Thyroid Disorder

While it is extremely rare to see an offer for life insurance "table rated", due to controlled thyroid alone, the reality is that thyroid disorder is often accompanied by additional risks. The combination of thyroid and connected risks can result in table rated offers. This being said, it is worth noting that the  severity of the rating can vary significantly. Therefore it's important that you use an agent that is experienced with cardiac cases and has access to the carriers most likely to be receptive. 

The process of obtaining a term life insurance offer with a thyroid disorder is similar to seeking  life insurance after a heart attack,  Sleep Apnea or AFib and many other specific conditions.

Primarily, term life insurance is available for lengths ranging from 5 years to 30 years with 20-year terms being the most popular. Term policies usually have a minimum face amount of $50000, and the policies terminate at the end of the term period or can be renewed annually at a vastly increased rate.

Possible Underwriting Ratings With A Thyroid Condition

Because Life insurance applications are evaluated on a case by case basis, your story matters. That is to say two people with the same age and condition may get vastly different offers from the same carrier based on age of diagnosis and patient compliance. Because each case is different, the following pricing scenarios are the best estimates based on experience.

Best Case - If thyroid condition  is under excellent control-  some cases have a chance for a preferred plus  rating even if using medication. Simply use the quote tool for a quote.

Mid Case -If your thyroid is under good control but not quite to the standards of preferred best rates will likely get you  standard  rates or better.  This assumes there are no other health concerns.

To learn about how table ratings work click here.

Severe Case - If your thyroid is not under control but is being actively treated you may receive a substandard offer in the range table 2/B to table 4/D depending on the severity of the case.

Pricing For Term Life Insurance with Grave's Disease

At the top of this article we stated  that any body can be approved for affordable life insurance with a thyroid condition. Note, however, we mention "affordable" rather than inexpensive or "low cost". The reason for the distinction is that life insurance with a a thyroid condition is not always cheap life insurance.

The difficult part of term life insurance with a thyroid  history is finding the best deal. This is because different carriers have differing appetites for certain kinds of risks. As a result navigating this process

is not as easy as using a quote tool and picking the lowest price. This is discussed in detail in the case study below.

Why You Should Use An Independent Agent When Shopping For Life Insurance With High Cholesterol

Now you already understand that your story matters, and that two people in similar situations can get very different offers from the same carrier.

What you might not know is that different insurance companies will also treat each case differently.

For example Prudential Financial  may have more of an appetite for the risk that Grave's Disease presents than say SBLI. In this case the underwriting grade will reflect this increased appetite.

So, if your Agent only represented one carrier and you found out later that that you could have gotten a rate 35% or 45% better, how would you feel?

You'd probably be angry either at the agent or likely  both. So it's important that your Agent represent multiple carriers.

Case Study Pricing Policies With Thyroid Disorder (Grave's Disease)

So, I have been preaching about the importance of using an independent Agent and you may think that sounds a little self serving coming from an independent agent.

You are right, it is. However, it is also the undeniable ( and provable) truth.

Please see the case study below . it will show why it is in your interest to have as many options as possible available when shopping for life insurance with Grave's disease or any other impairment.

Gender: Female Age: 29

$1000000 20 Year Term

Tobacco: No

Well controlled mild Grave's Disease. Diagnosed Age 28

Iodine only No Other Health Concerns

This looks like a best case scenario that would be either Preferred, Standard Plus or Standard depending on the insurers appetite for a Graves disease risk.. Let's take a look at the rates.

  • PREFERRED 
  • STANDARD PLUS 
  • STANDARD

Life Insurance Company

Monthly Payment

$ 37.32

$ 37.47

 AIG

$37.54

$41.78

$49.95

This table which shows only a few of the major life insurance companies available illustrates the difference in rates.For Preferred  rates Prudential is 29% more expensive than SBLI.

On it's face this seems like a pretty straightforward choice and if underwriting grades between carriers is the same, it really can be that simple. This kind of easy price shopping is particularly useful for younger folks in good health and demonstrates why you want to use an independent Agent.

For people who suffer from Grave's or any other serious diagnosis, it gets much more complicated.

Because life insurers manage their appetite for specific risks by being more lenient or more stringent with underwriting grades, you need to know which company will grade you a preferred risk and which ones will grade you as standard (or worse).

In the case above, because the Grave's is well controlled and the applicant is in excellent health,  Prudential  (the most expensive standard rate)  is not a factor. However, if her health was not quite as good as this example, Pru would likely be among the best deals because of more lenient underwriting.

That is if the more competitively priced carriers dropped her rating to standard  or standard plus Prudential would likely  be the best deal because they might still rate her as P+.

This is something you can't know by simply looking at the lowest price. In the alternate scenario  using an independent agent could save you 17% (the difference between Prudential @ preferred and AIG @ Standard).

Next Step

Thank you for reading about life insurance with Grave's disease at the Life Insurance Help Desk.Now that you know the information you will need to receive the most accurate quote possible, it's time to gather the information and speak to an independent Agent (raising my hand).

Simply give us a call or shoot an email over and we can get you started. We are committed to totally transparent pricing (we'll even share our computer screen with you if you'd like), and making the application process as painless as possible.

If you have any questions, We'd like to hear them.

Fast Facts About Grave's Disease

Bonus: The most common mistakes people make buying life insurance and how to avoid them

Fast Facts About Grave's Disease

Graves disease is an autoimmune disease  in which the thyroid gland is attacked by the immune system and and it then overproduces thyroid hormones. grave's is the most common cause of hyperthyroidism. 

According to the National institutes of Health, More than 1 percent of the population is affected by a hyperthyroid condition and women are far more likely to suffer from the condition than men.

Some of the more famous people who suffer from Grave's disease are  television personality Oprah Winfrey, politician Hillary Clinton, celebrity trainer Jillian Micheals, and musician Rod Stewart.

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