Life Insurance for People Living With Diabetes

diabetes dietsThis November is Diabetics Awareness Month, so it’s the perfect time to educate oneself on the disease and the health risks it can lead to, as well as how it can affect one’s life insurance policy.

It’s well known that life insurance providers calculate premiums based on health and risk, but having diabetes doesn’t necessarily condemn someone to an expensive policy.

The ideal candidate has kept their intake of sugar under control, has maintained a healthy lifestyle, and is in good shape. Meeting those criteria classifies them as a low-risk diabetes sufferer.

The type of diabetes, an individual’s time of diagnosis, and the measures they’ve taken to control and treat it will all have an effect on a policy and its price. Generally, people with Type 2 diabetes receive better rates.

Diabetes can easily spiral out of control and cause heart disease, kidney disease and blindness — all things that make life insurance more expensive or difficult to qualify for.

Life insurance agencies will look at a candidate’s medical records from the past few years to look for healthy behavior, good decision-making and effective treatment strategies in their at-risk candidates when assessing premiums.

If a candidate’s HbA1c is less than 7, they have no complications from diabetes, their blood pressure and cholesterol are controlled, and they exercise and maintain a healthy weight, they are considered low-risk.

On the opposite side of the spectrum, if a candidate’s HbA1c is 9 or greater, they suffer from complications, and they have additional issues such as smoking, obesity, and lack of diabetic control, it will classify them as a high-risk candidate. This may hurt their chances at obtaining an affordable policy, or even life insurance coverage at all.

However, if an individual takes control of the disease, is proactive in its management, and keeps their blood sugar level under control, there are plenty of ways for them to secure an affordable life insurance policy.

Here at SelectQuote we work with a number of highly rated life insurance companies that specialize in risks and we can help diabetics find a suitable and affordable policy.

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