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Thyroid conditions and life insurance

Your thyroid is a gland in the front of your throat that is the shape of a butterfly. It is a small but important organ because your metabolism is controlled by your thyroid.

There are a number of thyroid conditions that can have a direct impact on your weight and health.

Life insurance can protect you and your family if you are diagnosed with a medical condition such as thyroid conditions. There are several types of life cover that can provide financial protection if you get diagnosed with or if you have thyroid problems.

Approximately 1 in 20 people living in the UK have some sort of thyroid issue, however, this figure could be far greater with many undiagnosed.

Types of thyroid conditions:

You can find more information about these conditions by clicking the links above.

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Does life insurance payout for thyroid conditions?

YES – if you die from a thyroid condition then your life insurance should pay out a lump sum to your family. Standard life cover does not exclude medical conditions so you should be protected if anything happens to you.

Thyroid conditions aren’t usually considered fatal but there are reasons why they can cause other complications.

If you are concerned about protecting your family and their financial future because of thyroid problems, then you should consider life cover.

Does critical illness cover thyroid conditions?

A critical illness cover policy pays out a cash lump sum if you get diagnosed with a serious illness.

Thyroid conditions covered by critical illness cover

  • Thyroid cancer

This type of policy is designed to protect you and your family if you’re diagnosed with critical illnesses such as cancer. Most other thyroid conditions would not be considered to be severe enough for this type of cover.

Can I claim on income protection for thyroid conditions?

This type of cover can be extremely useful and valuable if you’re unable to work because of thyroid conditions. Income protection will usually payout for up to 12 or 24 months while you recover from your thyroid problem.

Income protection can be one of the best types of cover for thyroid conditions because it is more likely to payout.

It is also important to consider that if thyroid conditions are a pre-existing medical problem, then this might be excluded. You should check any offer of cover or your policy documents to make sure that you are properly protected.

Some reasons why you might need to claim on your income protection policy for thyroid conditions:

  • Time off work for treatment
  • Periods of longer-term sickness or incapacity
  • Recovery from treatment or surgery
  • Not able to work due to severity of symptoms

Income protection is designed to pay you a monthly income while you recover and are fit to work again.

Most income protection policies also provide support to help you to get back to work.

Life insurance with thyroid conditions

Can I get life insurance with a thyroid condition?

YES – you shouldn’t have any problems getting life cover with most thyroid conditions. In most cases, you’ll find that cover should be available instantly and you should have no issues getting a fair price.

The only thyroid condition that is potentially more complicated for life insurance is thyroid cancer. However, it is still possible to get life cover with thyroid cancer and most types of cancers.

Some questions that you might be asked about thyroid conditions for life insurance:

  • Are you undergoing or awaiting any surgery, treatment, or medical investigations?
  • Is your thyroid function now normal?
  • Have you had a thyroid lump, cyst, or nodule?
  • Have you had palpitations, irregular heartbeat, visual problems, or memory loss?
  • Was your condition associated with cancer or malignancy?
  • When did you first experience symptoms?

Will I need a medical for thyroid conditions life insurance?

It is very normal to be asked to provide some sort of medical evidence for life insurance. There are a couple of different types of medical checks that might be requested, including:

  • GP report (requested from your doctor)
  • Nurse screening (tests completed by a nurse)

Best life insurance for thyroid conditions

There are a few different types of life insurance and income protection to choose from. You just need to consider what is important to you and figure out what you want to protect yourself and your family against.

Term life insurance for thyroid conditions (family protection) is the most common type of life cover because it’s designed to protect your family if you die. This type of cover is usually the most simple to get with pre-existing medical problems like thyroid conditions.

Your family will receive a cash lump sum on death to pay your mortgage, debts, and to continue their lifestyle.

Mortgage life insurance for thyroid conditions (decreasing term) is specifically designed to protect your mortgage and cover reduces at the same rate as your mortgage balance. A decreasing life insurance policy is designed to repay a capital and interest mortgage and will usually be available with thyroid conditions.

Critical illness cover with thyroid conditions is often available where the condition is well managed and no major ongoing health issues. You should be able to get critical illness cover with a thyroid condition as long as you don’t have any other issues, such as eye problems or surgeries.

Income protection with thyroid conditions is also usually available, especially where the symptoms are mild to moderate with no complications. You might be offered cover with an exclusion applied for anything relating to your thyroid condition. You should check any offer of cover to make sure that it fits your needs.

Whole of life insurance with thyroid conditions is a slightly more specific and less common type of life cover. This is a guaranteed pay-out policy so you’ll need to make sure that this is right for you. Whole of life insurance is usually used for inheritance tax (IHT) planning or legacy planning.

Medical conditions linked to thyroid conditions

Several medical conditions are commonly linked to thyroid conditions such as:

Common questions about thyroid conditions

Here are a few examples of the top questions that people ask about thyroid conditions and living with thyroid problems.

What are the early signs of thyroid problems?Some of the most common signs that there might be a problem with your thyroid are having a bigger appetite, weight loss or gain (even though diet is the same), irregular heartbeat, or anxiety.
What are the most common thyroid disorders?Hypothyroidism is the most common thyroid disorder, which is an underactive thyroid.

‘Hypo’ means that there is a deficiency or under activity, so this is where the thyroid gland is not producing enough hormone or is underperforming.
Can thyroid problems be fatal?If your thyroid hormone levels are extremely low then this can cause a potentially life-threatening disease called myxoedema.

This is the most severe and dangerous type of hypothyroidism which can cause loss of consciousness or even coma.

Useful resources for thyroid conditions

NHS Choices – Overactive thyroid

NHS Choices – Underactive thyroid

British Thyroid Foundation – Charity

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