Diabetic Life Insurance
For diabetics, some standard life insurance can become unaffordable or even totally unavailable. Life insurance companies are allowed to charge a premium based upon an applicant's health. Also, some policies are allowed to completely exclude people on the basis of their health.
The trick to finding diabetic life insurance, is to search out the companies that specialize in policies for people with health conditions like diabetes.
Finding the Right Policy at the Right Price
Getting Diabetic Life Insurance is possible, here are our top tips on how to do it, and how to reduce your premiums as much as possible.
- Life Insurance companies will want to assess how good your control is. To do this, typically they will want to know your latest Hb A1C, the lower the better.
- They will ask if you have any existing diabetic related complications (this will be a sign of poor control). Some companies will ask lifestyle questions to try and assess if you lead a healthy, active life and eat well. You should of course be doing all these things anyway - not just to try and get lower insurance premiums!
- Using an agent to get multiple quotes is a great idea, some do specialize in "impaired risk", these agents will know the best policies for you.
- If a life insurance policy says that it uses clinical underwriting, it means they will take into account your total health, not just use a simple tick in the box for a health condition.
- Use the Internet to shop around, or better still, use personal recommendations.
- Don't get dispirited if you get turned down - there are plenty of companies that offer life insurance to diabetics.
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