Most people are surprised to learn that life insurance policies are available for people with diabetes. Not every insurance company will write a policy and availability may be restricted by the laws within a state. However, insurance companies that understand diabetes very well will submit a request for a life insurance policy to their underwriting department for review.
What Information Should You Provide To The Underwriters About Your Diabetes?
People with diabetes are required to disclose details of their medical history in order to qualify for a life insurance policy. Here are sample questions:
1. What type of diabetes do you have? Policies are available for people with Type I, Type II, as well as applicants who have been diagnosed as pre-diabetic.
2. What medications do you currently take to control your diabetes? Underwriters will look at the dosage levels and frequency of medications. They will also ask about proteinuria in order to assess your risk of developing kidney disease.
3. How well controlled is the diabetes? This question will factor heavily in the price and type of policy offered to you. If your HbA1c is less than 7, you do not have any additional risk factors, and you regularly exercise while eating a healthy diet, you will be considered as a best case for a life insurance policy.
If you have diabetes and have been turned down for life insurance by one company, do not despair. Since underwriting departments at insurance companies vary, it may be that you need to contact a company that is more knowledgeable about diabetes. Working with an agent like Diabetic Life Insurance Solutions will allow you to shop many companies and have someone to help you go through the minefield of finding a good carrier. If you have the condition well under control and are able to prove that, you may even qualify for a preferred plan. Comparison shopping really matters when it comes to purchasing life insurance for diabetics and a single rejection should not deter you.