In order to find our clients with diabetes the best life insurance rates, we at Outlook Life have to understand diabetes, and need to know what insurance companies are looking for when they are underwriting for diabetes. Therefore, we attend underwriting seminars, have daily contact with actual underwriters, keep abreast of the underwriting guides for each company, and use many tools to help us determine which policy has the best rate for each individual diabetic person that comes to us. We go the extra mile so that our clients are given the best rates based on specific underwriting guidelines for diabetes.
1) Age of diagnosis
Diabetic life insurance rates tend to be lower the older you are when diagnosed (if diabetes is well controlled and overall health is good). However, we have very reasonably priced policies for type 1 diabetics diagnosed as young as three years old.
2) How long has the applicant been diabetic
It’s best to apply for diabetic life insurance after you’ve been on treatment for a few months, although that’s not necessary with some companies. The rates might be higher if you’ve been diabetic for many years.
3 )Type of Diabetes
A person with Type 1 diabetes will pay more than type 2, all else being equal. But a type 2 diabetic with poor control can end up paying more than a type 1 diabetic with good control. Some companies go by whether you use insulin; some recognize that even people with type 2 diabetes can use some insulin and rate accordingly.
4) Is Your Diabetes Under Control
Persons who have moderate neuropathy, constant protein in urine, episodes of diabetic coma, or A1C’s that consistently run over 10 can still get life insurance, but it will probably cost more than those who have low A1C’s and no side effects. In fact, well controlled diabetics can get almost any type of life insurance that those with good health can get.
5) Diabetes Control Medications
Having a long list of medications does not necessarily mean a higher rate as a result of having the signs of diabetes, as it does with some health conditions. Some of the best diabetes doctors will treat their patients with multiple diabetic drugs that work well together, and prescribe medications that are effective in preventing certain side effects. On the other hand, some medications will indicate that your diabetes is causing problems with other body functions, and that can affect one’s rate.
Some companies rate better for insulin use than other companies. It is often helpful to visit with one of our experienced counselors in diabetic life insurance. That way you can tell them your own details and get the best possible rate for your unique situation.
To find your best diabetes life insurance quote, keep an open mind to all the choices in diabetic life insurance available to you. Our counselors, as diabetic life insurance specialists, have handled hundreds of cases similar to yours and can guide you to the best diabetic life insurance product for you. We invite you to call our counselors now for a free life insurance needs consultation.