Life Insurance for Diabetics
You might think that life insurance is too expensive or even out of the question if you have diabetes. Not true! You can get affordable rates if you have diabetes, but it will depend on a number of different factors. Here are some of the most important factors that are taken into consideration when an insurance company looks at an applicant with diabetes.
Age at Onset/Time Since Diagnosis – These are very important factors as your rates will substantially increase the younger you are diagnosed and the longer you have had diabetes. Genearally, if you have been living with diabetes since you were a child and have been using insulin since you were diagnosed, you should expect to pay much higher rates. On the other hand, if you were diagnosed later in life and have only had it for a few years, you will qualify for better ratings.
Treatment – The insurance companies are going to want to know which medications you take in order to control your diabetes. Some diabetics are insulin dependent while others can control their diabetes with oral medications, diet and exercise. The fewer medications you take the better.
Insurance companies also want to make sure that you are seeing your doctor regularly for diabetic checkups. This is important to insurance companies as they want to make sure that you are diligent about your treatment. If you are seeing a doctor on a regular basis, it could lead to a better rating.
Diabetes Control – Insurance companies look very closely at your A1C level to determine how well your diabetes is controlled. An A1C test can provide an overview of glucose levels in your blood over a 2 month period. Generally, insurance companies look favorably on an A1C reading somewhere in the 6-7 range. A reading above 7 could result in higher rates or even a decline depending on how high the level.
Insurance companies will also look closely at the results of your urine analysis taken during the paramedical exam. Their focus is to determine overall kidney health and function by looking at protein levels in your urine. In advanced stages of diabetes, Kidneys can become severely damaged over time.
Other Health Factors – Insurance companies will review the overall health and lifestyle factors of a diabetic very closely to ensure that they are not compounding their risk in any way. Diabetics who smoke, are overweight or have heart disease pose an additional risk and will most likely be assessed a substandard rating or even a decline. Insurance companies prefer to underwrite diabetics who have healthy lifestyle habits which can help manage diabetes more effectively. The point is that other health factors considered during the underwriting process such as build, cholesterol levels and blood pressure levels will be weighed more heavily for an applicant with diabetes than without.
Be Prepared
You should know your A1C levels and any other relevant information about your diabetes before you start shopping for life insurance. It is best to work with an independent agent so that they can gather the information about your case and shop it around. They may be able to get you several tentative offers based on the specifics of your case. This way, you will know what you are up against. You should expect that your medical records will be requested. Insurance companies want to look at your medical history so that they can view your treatment history, control history and any other factors that will help them assess your situation.
Conclusion
Don’t be discouraged, you can get life insurance if you have diabetes. Not every diabetes case is the same, so it makes sense to shop multiple carriers for the best coverage option. If you have diabetes and you need life insurance we can help. We have access to over 40 insurance companies and will use all of our resources to get you the best coverage option available. Please feel free to give us a call at (888) 687-9444 or email us at info@archstoneagency.com if you have any questions.
About Us
Archstone Insurance Services, LLC is an independent agency that shops over 40 of the top life insurance carriers to provide huge savings on life insurance coverage for our clients. We are happy to answer any questions you might have about any of the insurance products we offer, your planning needs or your existing coverage. Feel free to call us directly at (888) 687-9444 or email us at info@archstoneagency.com. You can also visit our website at www.archstoneinsurance.com.
