Low iron is simply a sign of anemia. One of the most common types of anemia involves iron deficiency and this means that your body is not able to produce an adequate amount of hemoglobin. This condition also involves a low red blood cell count. Blood loss through menstruation sometimes results in iron deficiency anemia, but this can be regulated by taking iron supplements. At any rate, doctors must always investigate the precise cause of blood loss, in order to rule out more serious ailments.
There isn't any technically. As low iron levels means ANEMIA. If a Dr uses "low iron" it most likely just a description of how low.