How Does Your Diabetes Affect Your Life Insurance?
An estimated 20.8 million people in the United States have diabetes;
that is a good 7 percent of the US population. This serious lifelong
condition is a leading cause of blindness, heart disease and kidney
disease, and because of this, it can be next to impossible to get
life insurance. While 46 states have laws in place requiring life
insurance firms to offer health insurance to those with diabetes,
life insurance is another matter entirely.
Because life insurance polices are allowed to charge your premium
based upon your health status, getting a good policy can be extremely
pricey or not even an option. Having diabetes puts you in an impaired
risk category that will often make insurance companies think twice
about offering you a policy.
Despite all this, though, there is hope in finding an affordable
life insurance policy for yourself or for a loved one. There are
many things you can do to make yourself more attractive to the
insurance companies, as well as many places you can look that will
be more amenable to your conditions.
One thing you can do is present yourself
as a good risk. As diabetes is often a self-managed disease,
you can make sure that you have good habits. This, combined with
a good blood glucose control and a healthy lifestyle can make
you a more attractive candidate to insurers. Similarly, you will
want to find an agency that does what is called "clinical underwriting." In
this process, as they access the risk of selling you a policy,
they will consider your overall health and habits.
As with any insurance search, it pays to be persistent; don't
take no for an answer and if one firm turns you down, simply approach
another one! Take referrals from friends and family and do your
best not to be discouraged. Persistence and determination will
pay off and remember that even with diabetes, you will be able
to find good life insurance. Insurance companies with experience
in impaired risk situations will be more likely to help you than
ones without; keep in mind that there are many, many Americans
in your particular situation and that affordable life insurance
policy are quite possible.
One thing to remember is that the help of a good insurance agent
in invaluable in your search for insurance. A good agent will be
able to bring your case to the attention of the policy providers
who will most likely be able to help you out and can greatly expedite
the process. A good agent will also be able to get your case out
to a number of places at once; life insurance is something that
should not be delayed, and a refusal can take up to 6 weeks to
Even if you or someone in your family has issues with diabetes,
this does not mean that life insurance will be an impossibility
for you. There are many ways to get life insurance and the most
important thing to do is to be proactive with your search for security.