Life Insurance for Diabetics FAQs
Posted by Lenny Robbins on Thu, Feb 09, 2012 @ 03:47 AM
Can people who have Type 1 or Type 2 diabetes get life insurance? Yes. Although life insurance for diabetics does cost more than for a person without diabetes, not getting life insurance can be much more costly for the financial future of your family. Moreover, if you demonstrate you have control over your diabetes, you may qualify for standard, or Table 2 rates. On occasion we have seen diabetics get a preferred or standard plus rating.
What People with Diabetes Need to Know
Sometimes people with diabetes think they can never afford life insurance. However, almost one out of every ten Americans has diabetes. Therefore, plenty of life insurance companies offer life insurance for diabetics. However, some carriers look more favorably on people with diabetes than others. An independent insurance agent will be able to help you find a company which will be more likely to give you a good rating, and therefore a better life insurance premium.
How you Manage Your Disease Makes a Difference
If you have good control over your diabetes, you can qualify for a better rate. How will the insurance company determine this?
- Blood tests: hemoglobin A1C levels measure your blood sugar over 3 month period and if lower than 7.0 indicate you have good blood sugar control.
- Medical Reports: If your medical reports indicate that you go to your regular check-ups and follow the doctor's instructions, they will know you are doing what you can to minimize complications.
- Other Health Indicators: if your medical exam and records indicate you have your weight, cholesterol and blood pressure under control, your general health indications will be seen as better.
You Can Improve Your Rating
Life insurance for diabetics is harder to get when the diabetes is less controlled, but it may be possible. Then you can take action to improve your health, and demonstrate you have better control over your disease, and apply for a better rate. What can you do?
- Exercise regularly.
- Get regular medical check-ups.
- Follow your prescribed diabetic diet.
- Take medications as prescribed.
- Keep close check on blood sugar.
- Provide medical records to show long-term management.
The Bottom Line
When purchasing life insurance for diabetics, you need the help of an independent life insurance agent to get the best rate. Moreover, an independent insurance agent is always there to help advise you if your life insurance needs change. An independent agent is your agent for life.
Photo credit: sylvar