Diabetes Dilemma: How to Get the Best Life Insurance

A diabetes diagnosis does not mean it’s impossible to get approved for a life insurance policy. Top insurance companies understand which health factors matter when you have a chronic condition such as diabetes. Here are answers to common questions about life insurance coverage for diabetics:

How do Insurance Companies Decide Eligibility for Life Insurance for Diabetics?

Your overall current health, your age and your gender all considered in the approval process. You must prove your diabetes has been under control for at least 6 to 12 months, as measured through blood tests. Insurers will also look at your overall health, including your lifestyle, diet, whether you smoke, your exercise habits, what medications you take and how you manage your blood sugar level.

Does it Matter Whether I Have Type 1 or Type 2 Diabetes?

Most diabetics – 95 percent of the 30 million Americans with diabetes – have Type 2 diabetes. Type 2 diabetes is manageable with proper medical care and healthy habits. If you’re among the 3 million Americans with Type 1 diabetes you’re considered a higher risk for insurance coverage and you may face higher premiums. But that does not mean you can’t find coverage.

Do I Need a Medical Exam for Diabetic Life Insurance?  

A para-medical exam is required so the insurance company can understand your overall physical condition and your particular health risks. This free exam can take place in your home or office and is a short appointment.

Is Life Insurance for Diabetics More Expensive?

Insurance coverage for diabetics tends to be higher because of overall health risks associated with a chronic illness. Insurance companies also consider other factors. Each person is unique and the insurance company will look at your particular health condition to determine your costs.

What if My Diabetes Management History isn’t Perfect? Can I Still Get Life Insurance Coverage?

If you can demonstrate that you’ve made significant improvements in your management of diabetes over the past year, you most likely can find insurance coverage, although your premiums may be higher.

How Can I Find Life Insurance Coverage I Can Afford?

Some life insurance companies have plans specifically for people with higher health risks, including diabetes. You most likely will have a few options to choose from. A term life insurance policy set for 10, 20 or 30 years is the most affordable type of insurance.

What Coverage is Available if I Have Gestational Diabetes?

Gestational diabetes is usually a temporary condition that occurs in some pregnant women due to glucose intolerance. In some cases, gestational diabetes clears up upon delivery. In other cases, it can turn into type 2 diabetes. If this is your situation, your management of diabetes will be considered, along with your overall health.

What Can I Do to be More Insurable?

Stay physically active and eat a healthy diet. Control your weight, your cholesterol level, blood pressure and blood sugar level. If you smoke, get help in overcoming the habit. Visit American Diabetes Association for information on how to successfully manage diabetes.

How Do I Start My Application for Life Insurance?

Gather all of the documents you’ll need in order to prevent delays:

  • Copies of your medical records, including your medical history and your family’s medical history; dates and results of surgeries; and results of medical tests
  • A list of all medications you take, both prescription and over-the-counter
  • Your doctor’s contact information

If you have diabetes and you’re ready to apply for life insurance, contact a SelectQuote licensed life insurance agent at 888-279-6192 to help you start your application.

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