Health & FitnessCan Diabetics Get Affordable Life Insurance??

Can Diabetics Get Affordable Life Insurance??

Many people who are diagnosed with Pre-Diabetes, Type 1 Diabetes, and Type 2 Diabetes, have a misconception that getting life insurance is impossible, or not affordable. The truth is, it is very possible to get life insurance if you have diabetes.

Affordable life insurance with Diabetes is more than likely available to you, especially if your diabetes is under control. If your Diabetes is under excellent control, then you will not pay any more than a person who has Diabetes! Insurance companies are now rewarding people with diabetes who are controlling their conditions, with Preferred rate.

diabetesImage Source: Pixabay

Can all types of Diabetics Qualify for Coverage?

Over time, life insurance companies have begun to truly understand the risks involved when underwriting people with Diabetes. They are beginning to understand that Diabetes is not a death sentence. Many people are able to live a healthy life style while controlling their diabetic condition.

People with all types of Diabetes are now able to qualify for life insurance. Depending on your complete health profile, diabetic applicants now have more options available than ever before. Life insurance rates for the Diabetes community are at an all-time low. Individuals with Type 2 Diabetes, and Pre-Diabetes are going to have an easier time finding coverage, and better rates overall.

And for the first time in ever, people with type 1 diabetes can get life insurance coverage. Their rates may be more expensive then other applicants, but there are options. 10 years ago, it was nearly impossible for the Type 1 Diabetes Community to obtain cove rage at all.

Ways to Get Best Rates

To ensure you are eligible for the best rates, it’s always best to make sure your Diabetes, and overall health is in the best possible condition. Meaning you are achieving good control of your Diabetes, at an average Height/Weight or better, and watching your overall diet. Working out will also lead to better rates, as insurance companies obviously view this as a positive factor to your overall risk.

If you are currently using Tobacco products, then stop. Using Tobacco products will add almost 30% to your premium. So if you apply for coverage, please know that in the future if you quit using tobacco products, then you can re-apply and get a better rate.

The most affordable life insurance policy will be available to you if your diabetes is under control. If you have a lower A1C levels as well as low glucose levels, and you lead a healthy lifestyle, your rates will be more affordable. It also helps if you regularly visit the doctor, take your medication as prescribed, keep a healthy body weight, and have regular eye exams.

My Diabetes Isn’t Under Control, Now What?

If your Diabetes isn’t under the best control, then your options may be limited. Certain types of policies cater to people who are not in the “best” health. One type of policy is what we call Burial Insurance Plans, which are policies that have relaxed underwriting.

These types of policies are Whole Life Insurance policies, and they do not require a medical exam or medical records for approval. They also accept certain risks that traditional life insurance companies do not.

Some examples of Diabetic friendly carriers are Gerber Life, Foresters Financial, and Mutual of Omaha Burial Insurance plans. These companies have policies that will accept people with Diabetes, that other companies would not.

When you are looking for coverage, make sure you are working with an agency that specializes in the Diabetes market place. Many people advertise that they specialize in Diabetics and Life Insurance, but they do not. One company that is founded by Diabetics, and only works with the Diabetes Community is Diabetes Life Solutions. NO longer, people with Diabetes have to think they can not get affordable life insurance. They now have an abundance of options.


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