Diabetes Underwriting Guidelines
Preparation is essential when trying to secure life insurance for people with diabetes.
Among those applicants who have their blood sugar levels under control, either as a result of sound nutrition or oral medication and among those individuals, aged 50 and over, who are newly diagnosed as diabetic, there is a good chance that these men and woman can qualify for affordable life insurance with standard rates.
This process is simple: The healthier you are, and with blood sugar levels under 100 (or A1C numbers under 7), the more likely you will qualify for a STANDARD life insurance rates.
Bear in mind, too, when getting life insurance there are a number of insurance companies that accept applicants with Type 1 or Type 2 without requiring these individuals to undergo a medical exam. Since we want to find you the most affordable and comprehensive coverage, your answers to the following questions are critical:
- What type do you have (Type 1 or Type 2)?
- How old were you when first diagnosed with diabetes?
- What are your current glucose/hemoglobin levels?
- What types of medications and dosages were prescribed to you?
- What is your current height and weight?
- Are there any other health risks such as high blood pressure, cholesterol, etc?
Possible Outcome and Cost
Best case: Table rating 3-4
Typical case: Table rating 5-8
Worst case: Decline (complications, poor or A1C levels not controlled)
Best case: Standard
Typical case: Table 2-4
Worst case: Decline (complications, poor or A1c Levels not controlled)
Type 1 Diabetics:
It is hard to get life insurance for a type 1 diabetic. Type 1 cannot be controlled without insulin injections. Securing a policy while taking insulin can be tough. But if your diabetes is well maintained, your chances of approval are greater.
However, you will most likely have a substandard rating, which simply means your monthly cost will be a tad more than the average applicant. For example, a $500,000 20 year term policy could cost about $40 for a standard rated 40-year-old male while a customer with type 1 diabetes can expect to pay 125-200% more per month for a similar policy.
Type 2 Diabetics:
Type 2 is often linked to excess body weight and is usually treated with a prescription pill such as metformin. You have a better chance at obtaining affordable rates with Type 2 if your A1C levels are stable, there are no complications and you are regularly monitored by your physician.
It is important to keep in mind that the assessment of risk is not consistent across all life insurance companies. A high rating from one company doesn’t mean any hope for insurance. Remember, there are many companies that specialize in understanding your certain condition. It’s a matter of shopping around with the right life insurance agent.
Gestational is a temporary form of diabetes in women during pregnancy, and can sometimes turn permanent as a type 2 diabetes.
Gestational diabetes is not a significant risk factor for life insurance plans.
Diet and exercise can control this type of diabetes during pregnancy. The concern is the potential for a female with gestational diabetes to have type II diabetes following her pregnancy.
Women with gestational diabetes good chance of getting coverage if you haven’t developed type II diabetes. Some individuals could even see a receive a preferred rate class, though a standard rate class is more hopeful.
Diabetes life insurance quotes
We specializes in finding cheap life insurance for diabetics – we can find the best life insurance coverage for that person. Thanks to our exclusive Quote Engine, which enables us to search among more than 40 insurance companies nationwide, we streamline an otherwise slow and overly complicated process.
Our freedom is your greatest asset because, when working with an independent life insurance agent, you will have an experienced professional at your side. You will have an expert agent reviewing multiple life insurance companies, in an effort to identify the right carrier – for the right coverage, at the right rates – for people with diabetes.
We find your options, plural, to choose a life insurance policy you are eligible to buy, despite your struggles with diabetes. We are here to answer your questions, prepare your application and give you the peace of mind you deserve. Respectful and resourceful, Local Life Agents is your trusted means for buying life insurance, period.