subject: Life Insurance For Diabetics [print this page] Almost everything that we eat is broken down for energy and growth into glucose. This makes the hexose sugar an important energy source in the human body without which survival will be impossible. However, too much of something is rarely good! Diabetes is an example of a metabolism disorder in the body in which glucose levels in the blood are high and if left unchecked can cause serious health problems. Two major causes of death are heart disease and stroke; diabetes is the seventh leading cause of death in the US. 1
The types of diabetes conditions that can develop in the human body include hyperglycemia (or diabetes mellitus), the most common type of diabetes in which the body doesnt produce enough insulin to check blood sugar levels. This in turn is divided into Type 1 (insulin shots needed), Type 2 (insulin shots are not a must), gestational diabetes (developed during pregnancy) and pre-diabetes variants. Hypoglycemia (or diabetes insipidus) is a condition in which the blood glucose levels are too low and need intake of sweet foods to correct the disorder. Both types of diabetes can prove tough to insure, but not impossible. Hypoglycemia may not be as hard to insure as its usually considered the more manageable of the two. If you have gestational diabetes or pre-diabetes, careful monitoring and control of your condition can lead to greater success in low cost life insurance rates.
According to the Centers for Disease Control and Prevention (CDC), 8.3% of the US population suffered from diabetes in 2011. More than a fourth of this percentage included people aged 65 years and above1. Some parts of the United States like the Southeastern and Midwestern states see a larger incidence rate of the disorder. 2 This may affect your ability to find a carrier that will cover diabetes at an affordable life insurance rate. According to CDC estimates, 79 million American adults aged 20 years or older may have pre-diabetes, putting them at higher risk of developing type 2 diabetes in latter stages. Pay heed to these warning signs as they can affect your future insurability.
Here is a look at some factors that affect life insurance rates for diabetes patients.
1. Results of the Medical Examination
If your medical examination results during underwriting throws up unusually abnormal blood-sugar levels and a high hemoglobin A1c count, this could land you in a high risk category. Hemoglobin A1c provides an average of your blood sugar control over a six to twelve week period and is used in home blood sugar monitoring systems to make adjustments in your medicines. 3 People without diabetes have A1c levels between 4% and 6%. If your A1c levels are above this amount, this clearly indicates to the insurer that you have diabetes. As long as this level remains in the single digits, you may qualify for standard life insurance rates, paying upwards of 30% more than a non-diabetic applicant. However, if these levels are peaking at 10% or more, this will create complications on your policy and could be grounds for denial. You may have to wait until these levels are in control in order to reapply. Some insurers are kinder than others, allowing applicants to prove controlled levels on the same application at a later stage, as all records of denied applications are available for future insurers to access if they need it.
2. Record of Control
If you are recording your progress by chronicling doctors visits and check-up results, taking your medications regularly, controlling exercise and diet to maintain good health and responding to treatments by showing lower A1c levels, you can bring this documentation in to your agent or insurer and request for a second look. Your doctor will also be requested for records, so dont lie on your application. It could land you in trouble if you are found out, especially if something happened to you during the first two years of holding the policy, also known as the incontestability period.
3. Compare quotes
You may be able to qualify for a better rate on life insurance if you compare quotes first. Many people, even non-diabetics, are not aware that if you compare life insurance quotes, life insurance premiums could be reduced by up to 70%, especially if theyre using the services of an online aggregator website like AccuQuote.com. It is likely that some carriers, even well-rated ones, dont mind insuring high risk conditions like diabetes at slightly better rates than their competitors. Make sure that youre getting as many options as you can so you are not stuck with ridiculously high premiums for the next 20 or 30 years just because you didnt know that a better way to buy life insurance existed.
Dont be dejected or give up on your search to find life insurance protection for yourself if you have been diagnosed with diabetes. Choose term life insurance if the rates you qualify for are persistently high. Because term life is cheaper than whole life, you can take advantage of temporary protection while you build your assets and savings for retirement and emergency funds on the side. It may be hard or meddlesome, but with the right information, you may be able to find affordable life insurance with diabetes after all.
by: Pat Cassidy
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