Tuesday , October 27 2020

Life Insurance for Diabetes

If you have diabetes and need life insurance you may be finding it difficult to locate an affordable plan.

There is no one best provider for all diabetics because the prices and availability can vary by person, depending on several individual risk factors, which may include: age, gender, health condition, family health history, height and weight, how long you have been a diabetic, and how you manage your diabetes.

Today, even if you are insulin-dependent, you may be able to find affordable insurance for diabetics through a highly-rated insurance company that specializes in insuring diabetics.

There’s no promise that every diabetic may find the life insurance they need, but if you are keeping your diabetes in check with a proper diet and exercise routine, and watching your weight, you may be able to find affordable life insurance protection that meets your personal needs and fits your budget.

Whether you are an insulin-dependent diabetic, adult-onset diabetic, juvenile-onset diabetic, or oral meds or controlled by diet diabetic… it may be to your advantage to use a free quote service like Efinancial, Termfinder, or AccuQuote that has worked with insurance companies that insure people with diabetes.

Why is life insurance unaffordable or unavailable for people with diabetes?

Insurance companies rate their insurance policies based on several risk factors, including your current health status.

Also, an insurance company can choose not to provide life insurance based on an applicant’s chronic health conditions, like diabetes, obesity, or emphysema.

Even so, it may be possible for many diabetics to find life insurance in the U.S.

You need to know where to look. Some life insurers specialize in offering life insurance to people who are diabetics, and other chronic health conditions.

To find the best life insurance for diabetics considers the following:

How You Manage Your Diabetes – The main factor in the cost of insurance for people with type 1 or type 2 diabetes is how well they manage their diabetes. If you have a lower A1C, good blood glucose control, lead a healthy lifestyle, and do not have complications from diabetes, chances are your rate will be more reasonable too.

Find an agent that is experienced in obtaining policies for individuals with “Impaired Risk” – they will know what carriers may offer you a policy and which one(s) may not. Locate a licensed agent with access to carriers specializing in insuring diabetics.

Apply for a policy with a life insurance carrier that uses “Clinical Underwriting” – which is a process that looks at your total health, not just what health conditions you may have. They may take into consideration how well you manage your diabetes.

Shop around and compare – on the internet, by phone, or through referrals from family and friends. Becoming your own advocate will help you find term life for diabetes policy that best fits your needs and budget.

Don’t take no for an answer – Just because one carrier rates or declines your application does not mean that another company will not look at you more favorably. Persistence may help you find the right insurance plan.

One recent study on diabetes indicates type 2 diabetes, well-controlled or not, results in a high occurrence of heart disease.

Heart attacks and strokes are the leading cause of death among type 2 diabetics and the American Diabetes Association suggests that the rate of death among diabetics due to heart disease may be as high as 75%.

Maybe underwriters are putting too much emphasis on lowering glucose numbers, possibly putting too high an emphasis on a low hbA1c.

Insurance companies may become less stringent about glucose levels but may adjust mortality tables to reflect the high occurrence of heart disease in people with diabetes.

Key Factors for Underwriting Insurance for Diabetes

 

  1. Age of onset of diabetes
  2. Level of control measured by the hbA1c
  3. Complications resulting from diabetes, such as retinopathy, neuropathy, and heart disease.

 

It appears the best underwriting and rates for life insurance may be offered to people with late-onset diabetes (after age 50), an hbA1c of 6.5 or under, and no complications resulting from diabetes.

Article Source: http://EzineArticles.com/6785519

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