If you’re reading this blog post, you might be thinking about getting a Life Insurance policy, and may be wondering what you can expect, since you have diabetes. In this blog post I will provide you information that will help you get the best price on life insurance with diabetes and potentially save you time and heartache.

Facts on Diabetes

• 25.8 Million americans or about 8% of the population have diabetes
• 26% of all people over 65 years old have diabeties
• Risk for heart disease for diabetics is 2-4 times those who are not diabetic
• Risk for stroke is 2-4 times higher than those without diabetes
• 67% of diabetics report higher than normal blood pressure, or use medication to control blood pressure
• Diabetes is the leading cause of kidney disease

The facts are that Americans with diabaties present a higher risk for life insurance companies than those without diabetes and because of that, rates for life insurance with diabetes are generally higher than for those without diabetes.

Diabetes is measured by elevated glucose levels. An A1C test is useful in understanding your glucose levels and helps life insurance companies evaluate risk. A level of A1C of greater than 6 is typically a concern and can indicate that an individual is a diabetic.

What Questions Should a Life Insurance Agent Ask You?

To know what kind of pricing you can expect for a policy, here are some questions we would be asking so that we can quote you appropriately. The last thing we want to do at ChooseTerm is provide you with a quote without properly understanding your health situation andhave you go through a medical, and then deliver the news that pricing is much higher than we thought. This is why we ask questions, and why you should work with an experienced agent who can quote you appropriatly.

Here are some questions we will be asking you:

• What was the age of diagnosis?
• What was the latest A1C reading?
• What is your height and weight?
• What is the current treatment? Is it diet and exercise, oral medication or insulin?
• What is the average fasting blood sugar readings?
• How often do you test? And how often do you see your doctor?
• Are there any complications resulting from the diabetes, such as Neuropathy, or Retinopathy?

Life Insurance with Diabetes Pricing

In an ideal situation where height and weight are within optimal ranges, and regular visits to your doctor, you may be able to qualify for a “standard” rating. Typically what most diabetics end up getting is a substandard table 2-4 rating if you go with the right life insurance company. To put this into better perspective, let’s take a look at an example:

A $250,000 20 Year Term Policy for a 50 Year Old Male.

I’ll show you the difference in pricing between standard, table 2, and table 4.

Standard pricing would be $79/month for the 20 year term.

Table 2 pricing would be about $100/month for 20 year term.

Table 4 pricing would be 4 $131 a month for a 20 year term policy.

This can give you an idea of the range for the cost of a policy for a diabetic. However with asking the right questions, we can help provide you with a better range of cost for a policy.

If you have type 1 diabetes there are companies that will decline your application. However there are companies that will approve you based on well controlled A1C levels, and regular doctor’s visits. At ChooseTerm we ask you questions to understand your situation, so that we can match you with the life insurance company that will approve your coverage at the best possible rates. Contact us via phone, or fill out our quote form below to get your life insurance quote today.

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