We all understand that when it comes to buying life insurance for diabetics, it can seem like a frightening proposition. There are many variables to keep in mind, and many questions to which you need answers.
Similar to medicine, an ounce of prevention in life insurance is worth a pound of cure. It is better to take out life insurance to protect your family and loved ones when you face the financial realities of life than to have no life insurance at all.
Many people think that taking life insurance for type 2 diabetes if you have diabetes is a challenge, and in some cases a big one. Many people choose not to bother to apply for the coverage they need and deserve. Only life insurance policies are designed for people with diabetes.
Guaranteed life insurance: There is no guaranteed life insurance for at-risk groups with severe diabetes. It is more expensive than the simplified issue of an entire life insurance policy, and in most cases offers a lower maximum coverage of $25,000. Simplified life insurance: If you are not eligible for signed life insurance and are considered a moderate risk, you should consider simplified life insurance.
This is not a medical examination, but an answer to a detailed medical questionnaire. The policy can cost up to $50,000. This option is available to employers who offer it, but it is not the same as taking out private life insurance.
The best life insurance policy depends on your diabetes history and health profile. If you do not share certain information with an agent, it is impossible to determine which company or entity will be the best. Foresters Financial has a great non-medical testing policy.
Other common health issues include height, weight, family history, tobacco use, work and travel abroad. You can refuse life insurance for serious diabetes complications. Diabetes complications can include neuropathy, retinopathy, diabetes or amputation. If your complications are severe, your life insurance rate may be higher.
When taking out life insurance for diabetes, it is important to apply to a company that has a view on any type of diabetes. Will some life insurance policies reject type 1 diabetics? Some companies have stricter guidelines for type 1 diabetics than other carriers, offering them only standard rates for good blood sugar control. Only life insurance is good for every diabetic. When applying for life insurance for diabetics, it is important that we understand your individual medical history before applying for life insurance.
How to find life insurance for diabetes depends on the insurer. Life insurance companies have different insurance processes and rating standards. They use them to assess risks and issue you with a policy.
Many people with type 2 diabetes receive insurance with a better classification standard. This means you don’t have to pay higher premiums because of diabetes. It’s a different mentality and can feel more expensive.
This means you pay a higher premium for life insurance. If your A1C is above 8.5%, very few companies will consider your life insurance policy for this reason. However, if it is below 7.0%, this is not the end of the world.
In fact, we know of some selected companies offering discounted prices for type 2 diabetics who have an excellent overall health profile and have visited an endocrinologist 3-4 times. Here are some of the life insurance policies to choose from. You can find recommendations for applying for life insurance from your doctor.
There are both non-medical and full life insurance policies available for type 2 diabetics. There is no need for funeral insurance, but you can take out one of these policies to cover the final cost. This is a great option for many diabetics who cannot control their condition.
For example, suppose you experienced numbness in your hands and feet that was not diagnosed as neuropathy. If you apply for life insurance with a signed term and complications are discovered during a paramedical examination, you can be refused and not receive a policy.
AIG Type 2 30% Examination American National Type 2 40% Examination Options Americano Type 2 3.0% Examination Option Banner Life Type 2 Varying Examination John Hancock Type 1 Type 2 Varying Examination Options Mutual of Omaha Type 1 and Type 2 50% of Examination Options North American Co.
Prices for people who develop diabetes in old age tend to be more affordable than for people who contract the disease in their youth. Rates for type 2 diabetes also tend to be less affordable than rates for type 1 diabetes because they focus on diabetes control.
