Diabetes has become more common than ever in America; nearly 10% of the population has it, according to the American Diabetes Organization. That’s why we ask a lot of questions about getting a life insurance policy with diabetes. The answer is yes it’s worth it, especially if your diabetes is under control, if your problem reacts well to therapy, and if you live a healthy and balanced lifestyle without a variety of other unfortunate health and wellness issues. That’s the best situation in finding affordable life insurance policies. But before you read on, contact a Licensed LifeQuote representative to explore your options. They will discuss your options in an honest and knowledgeable manner.
Occurrence: In 2012, 29.1 million Americans, or 9.3% of the population, had diabetes.
About 1.25 million American children and adults have type 1 diabetes.
In adults, type 2 diabetes accounts for about 90 to 95 percent of all identified diabetes situations
Probably yes, either for people with Type 1 or Type 2 diabetes, as long as your diabetes is controlled for at least 6-12 months. You can also get a plan if you are insulin dependent. But you should understand that even if your diabetes is controlled, if you have various other health and wellness hazards, such as cardiovascular disease, uncontrolled hypertension, weight problems, or if you are a smoker, you will likely not be covered by insurance forever. There is an option called a “guaranteed-issue” life insurance policy, which you can buy, but at a high price. Our licensed representatives will guide you through the options.
Sincerity is a benefit and the upside is that you have to disclose everything about your problem so that when the insurer digs right into your clinical paperwork and assesses how well you are reacting to your diabetes therapy, you will get reasonable competitive coverage. . They want to know some important information about your situation. Be accurate and honest.
Life insurance policies for people with diabetes are likely to cost more than the average, “healthy and balanced,” policyholder. Of course, your overall health and wellness, family background and other lifestyle risk factors will be the best decision for your premium price. You will definitely not be approved for the highest scoring category, “Preferred Plus.” These policyholders are considered to remain in “excellent health and well-being,” and because they place the least amount of risk on the insurance provider, they pay the most affordable fees. People with diabetes will be placed in a “Standard” risk class—described as individuals of “average” health and fitness, elevation, and weight—or put in a “low-quality” risk course.
For those with diabetes problems that are so complicated that it’s impossible to get approved for a normally covered plan, a practical option is life insurance coverage without a medical exam. You don’t have to take clinical exams, lab work and electrocardiograms to get approved for this kind of coverage. You may need to fill out a diabetic questionnaire, asking for detailed information (such as the key questions above). Yes, premiums will definitely cost more, 10-40% more but if you need protection this option is available.
Why guess? Start today to see where you can find various life insurance policies for people with diabetes. You might be surprised to learn that there are ready-made options out there. Start with an open conversation with a certified life insurance policy representative who can guide you on the right track.
A life insurance policy is not a one-size-fits-all item. There are several factors that affect your life insurance coverage, and at the end of the day, they all come at a cost. But how is the cost of your life insurance policy determined?
We’re happy to walk you through your options, but we’ve also produced a free review to cover some of the important factors that will affect the cost of your plan. From health and fitness to age to package dimensions, these factors can play a big role in the cost of coverage you receive. Understanding your options is the first step towards producing an informed choice.