Diabetes and life insurance. Can someone with diabetes get approved for life insurance coverage? This is what we will spend the next few moments unraveling. Diabetes is an all too common health challenge that fortunately, can be managed. When we are talking about life insurance, a product where the available options are based on your health, being diabetic tends to be a roadblock. Have no fear, by the end of this you will be equipped with the tools necessary to help you or a loved one qualify for coverage.
First, we need to discuss the types of diabetes. There are two of them. Type 1 and type 2 diabetes. Type 1 means your body can not produce insulin on its own. Through many years of research there is still no definitive answer on how someone gets type 1 diabetes. One thing we know for sure is that once you have it, there is no cure for it. For this reason, it is more difficult between the two types to get coverage for. Type 2 diabetes can come with poor diet, obesity, lack of exercise and age. Simply taking care of yourself and being mindful of your food intake can help you reverse type 2. Generally, this affords you more options in terms of coverage. Here is a list of different foods and diets to try out and help improve your health!
Now, how does having diabetes impact your ability to purchase life insurance? For comparison, when you purchase auto insurance the insurance companies are concerned about the car and how you drive it. In contrast, life insurance is about your health and lifestyle(extreme activities or sports, smoking, etc). So having a health challenge or two can make it more costly to get covered or even impact your ability to qualify for insurance. It is important to know that not every company treats diabetes the same. Some are more strict on who they will approve, while others can be more liberal with their guidelines. Even if you have been declined for life insurance coverage before due to having diabetes, talk to an insurance broker. They typically have access to a variety of insurance companies. This will allow for them to potentially have multiple options for you to choose from.
Get prepared! Not only is it good to manage your diabetes for the sake of good health but it definitely looks good in the eyes of insurance companies. It also makes the shopping process much more streamlined. You want to know things like your last A1C reading, how often you take insulin or other medications, your primary doctors contact information, etc. Having as much information as you can about where you are medically will help you narrow down which companies would be a good fit for you.
Your next step is to see what kind of coverage you qualify for. Fortunately, Anew Financial, is able to guarantee coverage for diabetics. It is very simple to see what is available to you. We have a quick form for you to complete and you are on your way to getting covered!
