Women produce estrogen naturally, and men produce testosterone...these are NOT steroids!!! They are naturally occurring chemicals, just like insulin. If your body (or your husband's body) is not producing the right chemicals, help it out! Some of us take antidepressants because our brain doesn't produce enough of the right chemicals.
Basically, if his body is in need of testosterone, it is not producing the chemical that makes him male, hence, the lack of body hair, being overweight, even a lack of muscle mass. It won't make him a different man, but it WILL improve his quality of life. Encourage him to try low doses for a while, to see how he feels - then you can make an informed decision on whether to increase his dosage (per Dr.'s order) or drop it completely.