Life Insurance For Diabetics
Have you been diagnosed with diabetes? If so, you will find that obtaining a life insurance policy is quite difficult. In fact, several companies will simply refuse to provide you with a policy, while other companies will offer expensive policies that are not affordable.
Common Life Insurance Policy Amounts For People With Diabetes:
| $10,000 | $15,000 | $20,000 |
| $25,000 | $30,000 | $40,000 |
| $50,000 | $75,000 | $100,000 |
| $250,000 | $500,000 | Other Amount |
This is because life insurance companies are allowed to determine your premium amounts based on your level of health. Therefore, if you are a diabetic, you are considered to be in a high-risk category that leads to more expensive policies. The good news is that it actually is possible to obtain an affordable life insurance policy even if you have diabetes. The trick is knowing where and how to look.
Finding the Right Agent
One of the most important steps in obtaining an affordable life insurance policy is to simply find the right agent. Those agents who are familiar with working with people with this condition will be able to provide you with the greatest amount of assistance. In fact, it is best to find an agent who specializes in providing coverage to people with chronic diseases. By working with a specialist, he or she will know which carriers to contact to help you get the best policy at the lowest average rate possible.
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Managing Your Condition
Another key component to obtaining an insurance policy with a reasonable rate is to manage your diabetes effectively. Whether you have type 1 diabetes or type 2 diabetes, having a lower A1C while also having good control over your blood glucose levels will go a long way toward helping you obtain an affordable policy. Similarly, leading a healthy lifestyle in order to avoid complications associated with diabetes will go a long way toward helping you get the type of policy you are after.
Following the Right Process
If you have diabetes, but you are otherwise in healthy condition, you should apply for a life insurance policy with a carrier who uses clinical underwriting in order to determine your premium costs. With this process, you total health is assessed rather than determining your eligibility and premiums based on one particular health condition.
Commonly Asked Questions About Diabetes Life Insurance
Can I get Life Insurance With Type 2 Diabetes?
If your type II diabetes is under control, yes, you can. The life insurance company will need to see proof that your diabetes is being well controlled by medication.
Is It Hard To Get Life Insurance With Diabetes?
It may be harder, but totally possible. It will be fairly easy if your diabetic condition is under control, you are not overweight, and you have a healthy lifestyle.
Considering All of Your Options
Whether you have a chronic condition or not, it is always in your best interest to do some comparison shopping before you settle on a policy - term or permanent. If you suffer from diabetes, however, this step in the process becomes even more important. While you will find some companies who will simply refuse to provide you with coverage, you will find others who are willing to provide you with a policy at a reasonable price if you do enough searching.
The bottom line is simple: if you have diabetes, you will likely have more difficulty obtaining a life insurance policy than someone who does not suffer from the condition. At the same time, there are options out there. So, if one company turns you down, keep looking and you will be sure to find one that will provide you with coverage if you have been managing your diabetes effectively.
