Life Insurance for Diabetics

Life Insurance For Diabetics in Ontario California

This year, 1.4 million people in the U.S. will be diagnosed with diabetes, joining the 28.5 million Americans who are already living with the disease. Not only will these people have to make significant changes to their lifestyle and take a variety of medications to regulate their blood sugar, they will also find it more difficult to get insured. Some agents make the wrong recommendations and get people declined which is the equivalent of having a bankruptcy on your record. The higher rates can be a major drain on your finances, requiring drastic changes to your way of life. Your family’s entire future could be impacted. But do you have any other choice other than paying exorbitant premiums? The answer is yes. There are many companies that offer policies uniquely geared towards diabetics. The challenge is finding the right agency that specializes in high risk life insurance for type 1 diabetics and also type 2 diabetics. You can request a quote in less than 10 seconds.

Medical Exams

It is possible to get insured if you are diabetic but the process can be tricky. Much depends on what type of diabetes you have, your date of diagnosis, family history, lifestyle choices, and other factors. Any one of these variables can contribute to higher rates, depending on which company you choose. Premiums fluctuate so much from person to person that the formula can almost seem arbitrary. There is one constant; most policies require a medical exam, which can present special problems for diabetics. 

The medical exam required by most insurance companies consists of routine tests including a urine and blood sample. Your blood test can tell insurers a great deal about your overall health. In addition to measuring your good (HDL) and bad (HDL) cholesterol levels, triglycerides, and globulin levels, the test can also determine your blood glucose levels, an indicator of diabetes. The presence of fructosamine is a sign that your diabetes isn’t under control. Insurers will take other factors such as age and lifestyle into consideration but the information gathered in the exam has a big influence on your rates. The most common alternative that most insurance agencies will offer doesn’t require an exam but it isn’t ideal. 

Graded death policy

Diabetics are often told by insurance agents that the only way to get insured without taking a medical exam is to buy a “graded death policy”. While this is one solution to the problem of finding the best coverage for diabetics it may not be the right one for you. Many people will follow the advice of their agent and settle for this type of policy only to regret their decision later. There are a couple of things to consider before you commit to a “graded death policy”. It typically costs more and doesn’t actually take effect until a couple of years after the policy is purchased. The good news is this isn’t your only option. It is possible to get insured without getting a medical exam or paying outrageous rates. But not all agents will make you aware of these policies. Life Insurance For Diabetics in Ontario California

Anytime you purchase a life insurance policy that doesn’t require a medical exam you can expect to pay more. However, if you have a serious pre-existing medical condition such as diabetes, going the no exam route definitely makes the most sense. That doesn’t mean you are destined to go broke paying for insurance. There are many policies out there that offer affordable coverage for diabetics but tracking them down can be time-consuming and frustrating. That is where we can help. 

Type 1 and 2 Diabetes

If you are diagnosed with Type 2 Diabetes, you have a better chance of finding a policy with lower rates. Providing you can manage the disease through diet and exercise, you may qualify for standard insurance rates even if you choose a policy that requires a medical exam. You need to be able to demonstrate that you have well-controlled A1C (blood sugar) levels. Other lifestyle changes such as quitting smoking, maintaining a healthy weight and limiting alcohol consumption can also influence your numbers and your insurance premiums. 

Type 1 Diabetes is a chronic condition, which makes it harder to get insured without a medical exam. While radical lifestyle changes can make it easier to manage the disease, it wouldn’t dramatically influence your rates. The main reason for this is that there is no cure for Type 1 Diabetes. But, that doesn’t mean it’s impossible to get insured. The best course of action would probably be to explore your non-exam policy options. Again, you can plan on paying more than the standard rate but not as much as you might imagine. 

Controlling your diabetes 

Whether you go the traditional route or decide to explore “non-medical exam” policies, it is important that you do everything you can to keep your diabetes under control. If you are able to find a policy that requires a medical exam, you will have to undergo periodic check-ups to make sure you are managing the disease properly. Failure to do so could result in higher rates or loss of coverage. Something else to consider is the role diabetic related complications, such as kidney disease, high blood pressure, stroke and heart disease, can play in higher insurance rates. Developing any of these conditions can make the task of finding, and maintaining, a policy with reasonable premiums even more daunting. 

How we can help

Why don’t other companies tell you about all the companies that don’t require a medical exam for diabetics? Why is there so much focus on the “graded death benefit”? It may simply come down to the agent’s lack of experience and limited knowledge of all the policies out there.  We represent many of top insurance companies. By putting in the time to find the best options for diabetics seeking coverage, we are able to find the best insurance at a price that won’t break your budget. Don’t get stuck with an expensive policy that doesn’t meet your needs and may be completely useless to your family if something happens to you during the waiting period. Let us show you what’s available, so you can make the best possible choice.