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Life Insurance for Diabetics

The idea of life insurance for diabetics has always generated a large number of questions and, as a result, misconceptions.  In fact the only group that has more misconceptions about life insurance are smokers. If you are a person with diabetes there is no reason to not understand what your options are when it comes to diabetic life insurance so we put together this set of frequently asked questions that we get about diabetes life insurance.
If you’ve ever been told that you can’t get affordable life insurance coverage because of your diabetes, don’t believe it. Regardless of your health or any pre-existing conditions that you have, it’s possible to get affordable life insurance for your family. This article is going to look at the various questions and factors that you should be aware of when you’re shopping for coverage.

Is There Such a Thing as Diabetic Life Insurance?

The answer to these questions is, quite simply, ABSOLUTELY!  Almost anyone can get life insurance.  Finding a company that offers life insurance for diabetics is as easy as filling out the form on the side of this page.  The difference between a diabetic getting life insurance and a person without diabetes is going to come out in the underwriting.  The truth is that diabetic life insurance, like health insurance for diabetics, will depend on the overall health of the person.  If you are in good shape and have your diabetes under control you are sure to get approved. Do not worry if you are unable to pass the medical exam, there are other alternatives, such as the no medical exam life insurance policy that will come with a higher premium rate, but will allow you to get the coverage that you deserve.

Is There a Difference in Diabetes Life Insurance for Juvenile Diabetes?

The difference will be into how well the person has their diabetes under control and their overall health.  Unfortunately, many times, being diagnosed at a young age can cause insurance companies to charge a higher diabetic life insurance rate.  On the other hand if you are very young that also counts as a plus in the insurance company algorithm in their underwriting.
If you’ve been diagnosed with Juvenile Diabetes, the insurance company is going to look at your application very differently than other types of diabetes. There are several insurance companies that are more experienced at insuring applicants diabetes with diabetes at a young age. Those companies are going to give you much better rates for your insurance coverage.

What Do I Need to Know to Get the Best Rate for Life Insurance for Diabetics?

To get the best diabetes life insurance rates you need to know three main factors:

  • A good Hemoglobin A1C – This is the most important blood level to get the best rate possible.
  • Ratio of Height to Weight – having your weight under control not only will get you a lower rate it is one of the best ways to control diabetes
  • Your Age - obviously you don’t have any control over this factor, but for underwriting purposes, the older you were when you were diagnosed the better.

There are other factors that can cause the life insurance for diabetics rates to climb.  For instance anyone experiencing complications like kidney disease or blindness then you can expect much higher diabetes life insurance rates.
The insurance company is also going to see if you smoke cigarettes or use any chewing tobacco. If you’re a tobacco user, then you’re at a much higher risk for severe health complications, which means that you’re going to represent a higher risk to the insurance company. They are going to offset that risk by charging you much higher premiums. In fact, smokers pay at least twice as much for life insurance protection versus what a non-smoker is going to pay for the same sized policy. If you want to save money on your life insurance, you’ll need to cut out those cigarettes.
As we mentioned, your height to weight ratio is going to play a role in how much you pay for your life insurance, especially as a person with diabetes. If you want to save money, you’ll need to shed those extra pounds. Every insurance company may have their own weight chart, but if you want to know if you’ll be considered “overweight” for your height, a good measuring point is to use a BMI chart. If you’re overweight, you’ll pay around 50% more for your life insurance. Starting a healthy diet and getting regular exercise are a great way to lose those pounds and save hundreds of dollars on your life insurance plan.
The final factor that needs to be taken into account is that different companies give different diabetes life insurance rates.  One company will be the cheapest in general at diabetic life insurance, another great at life insurance for diabetics type 1, and another at life insurance for juvenile diabetes.  The best way for you to get the life insurance that is best and cheapest for you is to get quotes from a bunch of different companies.  Here at TermLife360.com we are happy to help with this pursuit so fill out the form on the side of this page to get the process started of finding a good deal on your life insurance for diabetics policy.

How Much Life Insurance Do You Need?

Aside from securing a life insurance plan, it’s vital that you purchase a large enough plan. Not having enough insurance coverage is one of the worst mistakes that you could make for your family. Sure, some life insurance is better than none, but if you don’t have enough, your family is going to be left with additional expenses and bills that they will not have the money for. There are several different financial categories that you should account for when calculating your life insurance needs.
The first number that you should crunch is your debts and major expenses. The first goal of your life insurance plan is to give your family the money that they need to pay off your mortgage, student loans, car payments, business loans, and any other large bills that they would be stuck with if you were to pass away. Make sure that you take a long look at all of your outstanding debts, and ensure that your life insurance is at least large enough to cover all of those.
The next number that you should look at is your annual income. If you’re one of the main income earners in your home, your family would struggle without your paycheck. That’s where your life insurance protection comes in. Your life insurance will give them the money that they need to get through the difficult time without worrying about money.
Another factor that you should consider are the funeral expenses and burial fees that your family will have to pay. While you may not realize it, the average funeral costs around $10,000, which can be difficult for a grieving family to pay for. Life insurance ensures that they won’t have to worry about paying for those bills.
These are only some of the factors that you should consider when determining how much life insurance protection that your family will need. If you need any help calculating your needs, please contact one of our agents today. We can walk you through the process and ensure that your family will have enough coverage to protect them.

Independent Insurance Agents

The agents here at TermLife360.com are independent agents, which means that we work with dozens and dozens of different highly- rated companies across the nation. Unlike a traditional insurance broker, we can give you more than just a single quote from one company. Also, you don’t have to worry about our agents trying to sell you a higher policy, because we’re working to get you the most affordable life insurance protection to fit your needs.
We know that shopping for life insurance isn’t a fun experience, especially if you’ve been diagnosed with diabetes, but that’s why we are here to help. We can bring all of the best insurance policies directly to you. No hassle. No fuss. Your time is valuable, don’t waste it on the phone calling dozens of companies and answering the same questions, let one of our hardworking agents do it for you.
You never know what’s going to happen tomorrow, and while you don’t want to think about something tragic happening, not planning for the worst can be detrimental to your loved ones. If you were to pass away without life insurance, your family would be responsible for thousands and thousands of dollars of debt. Losing someone you love will never be easy, but being stranded with those bills is going to make the situation a thousand times worse. Contact one of our agents today if you have any questions about life insurance for people with diabetes or you would like to get personalized quotes sent directly to you.

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