Made for iPhone Hearings Aids (MFIHAs) use a 2.4Ghz wireless connection to stream the sound from the TV, MultiMic or MiniMic to your aids, not the induction loop system. You have independent control of the volume of what is being streamed and what is coming into your ears through the hearing aid microphones. So if you want to watch TV and hear people in the same room talking you can do that, or if you want to shut out all background noise you can do that.
With TV it is also important that plugging in the TV Streamer does not turn off the TV speakers if you are watching with other people. You can plug it into the headphone socket if your TV allows independent control of headphone and speakers, or into an audio-out socket if it does not.
The TV Streamer works really well, and the MultiMic has transformed hiking, cycling and driving with my wife. She clips the MultiMic to her collar and I can hear her clearly. We can have a normal conversation in the car, where I choose to reduce the background noise.
I keep a second MiniMic plugged into my computer the whole time, so my computer works like the TV.
Music or phone calls streamed to your aids from your phone work similarly except these use bluetooth instead of 2.4Ghz wireless. Sometimes you want to block out all background noise and sometimes you don't. Making a phone call in a noisy place is where you would block out the background, but in normal phone use I do not to block out the background as it is disconcerting not being able to hear your own voice on a phone call.
The only time I ever use the loop is in theatres or public places where it is very rarely any help. A few churches I have been in have been excellent, but theatres and banks etc not.
Buying my first MFIHAs four years ago transformed life for me, but this whole subject is not simple or cheap, and it doesn't work well for everyone, as these forms testify. There is a lot to learn but it is very well worth while. When I bought my MFIHAs in 2014 I had an iPhone 6 on iOS 9 (think) and the HAs were first generation ReSound Enzo 9. I now have an iPhone X on iOS12 and third generation Enzo 9s and they work much better, but not perfectly. It is still new technology which is improving all the time.