According to the American Diabetes Foundation, there are 25.8 million Americans currently living with diabetes; 18.8 million cases of which are diagnosed and roughly 7 million of which are not. Are you or a loved one part of this population? If so, you may be under the misguided impression that you are unable to qualify for private life insurance coverage. In fact, you just might find that there are affordable options available to you!
Life Insurance Coverage and Diabetes
There are plenty of carriers who are willing to provide life insurance coverage to diabetics, and in some cases those with diabetes can even qualify for standard rates. In the end, it comes down to how well they take care of themselves. If you’re a diabetic and you see your doctor regularly, remain active, control your insulin levels and live a healthy lifestyle; there is plenty of affordable life insurance coverage available to you.
Applying for Life Insurance Coverage
During the application process you will be asked to allow access to your medical records. The carrier will use this information to determine if you’re in fact following your doctor’s orders. You can also expect to be given a glycated hemoglobin test, also known as an A1C test, to ensure that you’re maintaining healthy blood sugar levels. In addition you will likely need to submit to a blood test to ensure that your blood pressure, triglyceride and cholesterol levels are healthy. Though this might seem like an extensive amount of testing, it’s important to keep in mind that all life insurance applicants, seeking medically underwritten coverage, also undergo medical screenings, with all cost covered by the carrier.
Once you’ve completed your medical examination, the insurance carrier will assess your results and assign you to a rate class. Your class rating directly impacts your out-of-pocket-cost for life insurance coverage.
If you’re currently controlling your diabetes through diet and exercise, under the care of a physician, you just may be able to lock in a standard rate life insurance policy. If, however, you feel like there is room for improvement, we encourage you to consult your doctor and take strides to better control your condition, before you apply.
Have questions? Contact us today! At IntelliQuote we offer a variety of no medical exam and medically underwritten policies. Allow one of our knowledgeable, licensed agents to explain your options and help you determine if now is a good time to apply!
Want more tips and guidance to help you secure top rated life insurance coverage? Follow our Life Insurance Blog. Here we address these and other topics that will help you live a healthier life, both physically and financially. While you’re here be sure and read these related posts: