Life Insurance For Diabetics - Get The Best Possible Rates!
Why should it be so difficult to get approved for life insurance when taking simple steps can make all the difference
. Whether you have type 1 or type 2 diabetes, it is possible to get approved and get good rates on life insurance.Step 1 - A diabetic should be medically fit
One of the first thing insurance companies will want to see is that you have your diabetes under control. We don't mean under control this week and out of control the week before. This control has be for at least one year. If your diabetes was newly diagnosed, six months of control may be good enough. That will all depend upon the insurance company you select.
Step 2 - Prepare for the exam (the insurance exam that is)
It is very likely that, to get the best possible rates, you will need to take an insurance medical exam. We highly recommend that you do not eat a high carb breakfast the same morning before your exam. Just having the wrong food before your insurance exam is not likely to get you the greatest results and may even get you declined for insurance. The insurance company may allow for some room with your results but if your A1C numbers are way high that day, the underwriter may get worried that your diabetes is out of control. Life insurance and out of control lab results are not a good combination. When the examiner calls you for your exam appointment, ask him or her what you should eat or not eat before the exam date.
Step 3 - Select the right insurance company
Believe it or not, when it comes to health impairments, not all insurance companies are alike. Using the same medical results, we have found that while one company may give you standard rates, another company may decline you or give you a high rating. How do you find an insurance company that is likely to give diabetics the best possible life insurance offer? Give your broker all the information you have on your diabetes and other medical history and request that the underwriter review the information. The underwriter should be able to give you a good, general idea of the potential final outcome. Then select the company that offers the best outcome as close to standard rates as possible. Make sure to insist that you want as realistic of a quote as possible. If you have other medical issues in addition to your Diabetes, like blindness, neuropathy, heart issues or kidney disease you need to be even more selective with your choice of insurance company.
Ste 4 - Be truthful on your life insurance application
Do not hide any information about your diabetes history. Make sure to write down whether you are a type 1 diabetic or type 2 diabetic. If you have the information, give the insurance company your lab results such as last A1C readings. If you have medical records don't hesitate to submit them with the application. Contrary to some beliefs, insurance companies tend to offer better rates if you give them as much as you have on your medical history. Also, don't be afraid to apply to more than one life insurance company. Particularly, if you have a more extensive medical history (such as heart issues). we recommend that you apply to as many as three life insurance companies.
Some more recommendations
1. A good Hemoglobin A1C is one of the most important blood levels in acquiring the absolute best life insurance rate possible.
2. Your height and weight are another major factor in acquiring the best rate.
3. The final piece of the puzzle in acquiring the best life insurance rate if you have Diabetes is your age. The older you were when you were diagnosed, the better, as far as life insurance underwriting is concerned.
Some insurance companies are better for younger Diabetics, some are better for older ones. Some companies are better for Diabetics on oral medications or diet control only and some companies are much better than others for insulin dependent Diabetics. In cases where gestational diabetes is the issue a preferred rate may even be possible.
We hope this short article will help you get the insurance you need at great rates and easily. As we say in all of our articles, please ask, ask and ask more questions before applying for life insurance and certainly after you receive an approved policy. Be well.
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