Life Insurance for People with Diabetes

Life Insurance DiabetesAt Huntley Wealth Insurance, we offer the lowest life insurance quotes for people with diabetes.  Where some companies decline diabetics for life insurance or give them substandard ratings, we routinely help our diabetic clients obtain approvals at standard or better ratings.

Cost of Life Insurance with Diabetes II

In many cases, if your only health issue is diabetes (Type II), you can obtain a Standard approval from at least a half dozen life insurance companies we work with.  To see “standard” quotes, use our quote form on the right, and request a Standard quote.

Many factors will affect the cost of life insurance with diabetes, one of which is complications resulting from diabetes.  Some complications you may experience after having diabetes for a many years are neuropathy (damage to the nerves, most commonly affecting the legs and feet), eye complications, and heart disease.

If you have experienced any of these complications, this will hinder you from obtaining excellent life insurance ratings.  However, you still may be able to qualify for a substandard rating, a no exam diabetes policy, or at the worst, a guaranteed issue policy.

Factors Affecting Diabetics’ Insurance Premiums

A few other key factors which will determine your health classification, and therefore how much a diabetic will pay for life insurance premiums, will be time since diagnosis, average glucose reading/control, and current age.

Generally speaking, the longer someone has been diabetic, the greater the risk of developing complications.  So it’s much safer for a life insurance company to offer great rates to a diabetic who has been recently diagnosed (say in the past 5 years) than one who has had diabetes for 10 or 20 years.

Age of diagnosis is closely related to time since diagnosis.  The 65 year old who has had diabetes for 10 years will probably obtain a much better health classification than a 45 year old who has had diabetes for 10 years.  Most insurance companies penalize you for being diagnosed prior to age 50.

Importance of Controlled Diabetes – Blood Glucose Levels and A1C

Equally important to a life insurance underwriter is how well controlled your diabetes is.  This is measured by taking an average of your glucose readings, or if available, checking your hemoglobin a1c level.  While your glucose reading provides insight to current blood sugar levels, the a1c measures your average blood glucose control for the past 2 to 3 months….(continued on page 2)