If you have type 1 diabetes and you need life insurance, then you should know what your options are so you can make the most informed decision.
It’s no secret that diabetics can have a challenge when shopping for life insurance, but the options are better since medical advancements have made diabetes control easier and more efficient. It used to be that a diagnosis of diabetes meant that no one would insure you, but there are now many companies who will offer a standard rate for diabetics who manage their blood sugar well.
Life insurance underwriting for diabetics focuses specifically on control and regular doctor’s care. An A1C of 7 and below is considered optimal. Underwriters will also look at whether or not you see your doctor for regular appointments, and what your other health factors are such as height, weight, blood pressure, and cholesterol levels.
Standard Rating: If your A1C is 7 or less and you have no other health issues, then some companies will offer you a standard rating, which is what the average person will pay.
Rated Up: If your A1C shows moderate control, but you have high blood pressure or cholesterol issues, then a carrier may offer you life insurance with a table rating. This means that you will pay 25%, 50%, or 100% higher than a standard rating.
Guaranteed Issue: If you have a high A1C coupled with other health problems like high blood pressure and high cholesterol, then you will probably be denied by most life insurance carriers. Your last option is a guaranteed life insurance plan. The rate will be higher and the maximum amount of insurance that you can get is $25,000. Your policy will also have graded benefits, meaning that your death benefit is not fully payable until year three.
The bottom line is that there are life insurance options for a type 1 diabetic. You should know that there are certain companies that are known to be more reasonable with diabetics, while other carriers very rarely insure anyone who is a diabetic. The key is to work with an agent who is knowledgeable about which carriers are better for diabetics. Make sure that your agent works with multiple carriers, and be upfront with them about your diabetes. Get a free quote today to compare your
options.
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Guaranteed Life Insurance Quote
Are you injured or permanently disabled? Have you been unable to buy life insurance or are you worried that you can’t get life insurance coverage? Before you lose all hope for life insurance options, be sure to work with an experienced agent to explore all of your options.
There are dozens and dozens of life insurance carriers on the market and different carriers cater to different kinds of people. Although a person who is totally or partially disabled will have a tough time finding affordable life insurance coverage, it is not impossible. It depends on many factors including your age, the type of disability, other health issues, and the amount of coverage you are seeking. Ultimately, your life insurance application will be reviewed by an underwriter who will take into account your entire situation.
Get a free life insurance quote today to find out what your options are. Make sure you are upfront with your agent about your disability and any other health issues you have.
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Guaranteed Life Insurance Quote
Guaranteed life insurance is exactly what it sounds like- life insurance that guarantees your acceptance. There are no medical exams, no medical tests, and just a few health questions to answer. These policies are designed for people who have been turned down with other companies because of serious pre-existing health conditions.
What makes guaranteed issue life insurance different from other types of life insurance is that the death benefit is graded. This means that if you die within the first two years there is a limited payout to your beneficiaries. For example, if you die in year 1, the policy may only pay out 25% of the death benefit. In year 2 it moves up to 50% and by year 3, your beneficiaries can receive the full death benefit.
Here are some features of guaranteed issue life insurance:
- No medical exam or tests
- Ages 50 to 85
- $3,000 to $25,000 worth of coverage
- Permanent life insurance
- Builds cash value
- Two year limited benefit period
If you need life insurance and you’ve been turned down before, or if you know you have some health conditions that make it difficult to obtain life insurance, then a guaranteed life insurance quote is right for you.
