Posts filed under 'Type 2 diabetes'
I was considering just re-posting some old information about life insurance underwriting of diabetes, but let’s just hash our way through it. There is new information and new opportunities that wouldn’t have been there even a year ago.
Let’s save type 1 diabetes for another day and focus on just what it takes to get good life insurance rates with type 2 diabetes. The good news here is that one company broke through, albeit in a limited way, and now offers their best rate class for type 2. So, what does that take.
A quick rundown is this. The applicant needs to be over 60 and has to have been diagnosed within the last 5 years. They have to have good control exhibited by an A1c of 7.0 or less and they can’t have any other risk factors that would normally bump you out of the best rate class, so no obesity, high blood pressure, and no history of heart problems to name a few.
But as I said, a narrow window of opportunity. For the average client what underwriters would like to see for approvals in the standard to standard plus range is onset after age 50, an A1c of 6.5 or less and of course a lack of risk factors that would otherwise knock you out of the rate class you’re applying for. In other words, if you have the first two but poorly controlled blood pressure, you’ll pay what the blood pressure drives the rate to. If you have the first two and you’re 5/10, 280#, you’ll pay what the weight drives the rate to.
But here’s the thing. Most life insurance companies will decline you if you are a type 2 diabetic no matter what the rest of the story is. There are a handful, maybe 20 companies that really have an open mind to underwriting the whole picture. This is one of those classic cases where if you pick the wrong agent who uses the wrong company you lose. If you think your Farmers agent is going to get you life insurance, forget it.
How do you know you’ve found the right agent? Ask questions. If they don’t understand type 2 diabetes. I mean if they really don’t know the difference between that and type 1, move on. If they don’t know what questions to ask concerning medication, age of onset, A1c history and other risk factors, they don’t know how to find you good rates and if they aren’t willing to educate themselves, they don’t deserve your business.
Bottom line. There are more people with type 2 diabetes that can get reasonable life insurance rates than people that can’t. The problem is they hear from people that don’t know, that they can’t get it. And they use agents who don’t know how to get it.
January 22nd, 2010
It’s been at least a year since I last shared my dismay with both the readers of this blog and the ADA about the ADA choice to just ignore the subject of life insurance for those with diabetes on their website.
Whether you have type 1 diabetes or type 2 diabetes, there is a wealth of help and information on how to successfully find and get accepted for life insurance. You just can’t find any of it on the website that of the organization whose mission statement is “Our mission is to prevent and cure diabetes and to improve the lives of all people affected by diabetes”.
I’m thinking anyone with diabetes who has ever applied for life insurance would find their lives improved greatly by the sharing of up to date, real life information on how to find life insurance when so many companies stand ready to block that effort and so many agents don’t even know what the difference between type 1 and type 2 is, or what your hbA1c is and how it impacts underwriting.
Any advocacy group that has ever been in my sights knows that I have no love loss or tolerance for groups that claim to represent your best interests but spend more time fund raising and dispensing warm fuzzy information than they do researching and sharing real life, money saving, family saving information. Shoot me if I’m wrong but I think that information about things that might cause diabetes (why would you be on the ADA site to see what might cause diabetes anyway?) probably isn’t as useful or timely as knowing how to get affordable life insurance.
Bottom line. Since I am blocked from sharing information on the ADA forums, I want those who should be able to find the information there, to be able to find it somewhere.
November 4th, 2009
I written several times about a major term life insurance company that took the unprecedented step of saying they would allow, in the absence of other risk factors, their preferred plus rate class for some people over 60 with type 2 diabetes.
Their only other criteria? They had to have been diagnosed within the past 5 years and have an A1c of 7.0 or less. I’ve seen several approvals come through on this with other agents I know, but hadn’t had a chance to actually present an application until recently. My client is 63, had an A1c of 6.9 on his insurance exam and his doctor has had him on diet control for the past few years since they originally ran across high glucose on another insurance exam.
We already had the medical records on this case, so with the exam and labs in hand it was off to the underwriter who swiftly hit it with a table 2 approval. I’m thinking this guy didn’t get the memo from the chief underwriter so we questioned why my client wouldn’t qualify for preferred rates.
His answer was that my client had never really been diagnosed, although his records clearly show a link between his first elevated glucose and being put on a specific diet. He said that my client wasn’t really being treated, as in he wasn’t taking any prescribed medicine. As far as I know diet control of diabetes has always been considered treatment. At least the people that are on the diet feel like they are being treated and if the result is that the doctor is expecting some change in the glucose level, well, it kind of sounds like treatment….
And then he blurts it out! He thinks it’s stupid that an insurance company would make that kind of an offer. He states that there simply isn’t the mortality experience to back it up. Furthermore he stated that there was nothing inherently fair about whacking someone one rate class for well controlled high blood pressure and not for well controlled diabetes.
I have to admit that I don’t disagree with what he feels, but the guys signing his paycheck are paying him to big bucks to uphold their wild marketing ideas. Fortunately there is some check and balance in the underwriting world. If a rogue underwriter doesn’t want to go with the flow perhaps his boss will remind him which way feces flows.
Bottom line. I think we will prevail on this and I’ll post the end result. In the meantime the door does still appear to be open (just route it around the underwriter I got) for well controlled 60+ year old diabetics to get rates that are less than 1/2 of what they would get through any other company.
August 13th, 2009
On occasion a life insurance company will pick a place to make a stand and leave the rest of the industry behind. Companies like Prudential come to mind when they approve tobacco use, other than cigarettes, at non smoking rates even with daily use. So, while many companies will allow very occasional cigar smoking at non smoking rates, Pru is there for the prolific cigar smoker or tobacco chewer.
Recently a major player in the term insurance market made an even bolder move, in my mind, for people over 60 with type 2 diabetes. It was one of those announcements that at first left me looking for the catch, but several approvals later it truly appears they are serious about serving this market.
Criteria are over age 60 with type 2 diabetes 5 years or less, an A1c under 7 and no other risk factors. Given that scenario this company is willing to go preferred plus rates. Unheard of!! With any other company the best possible result would be standard plus, but really more likely standard to table 2. In spendable numbers that means a policy that will cost less than half of what the next best possible rate might be.
I had some concern over the “no other risk factors” part of the equation, but they are actually very fair on that as well. If any other risk factor would result in a standard or better rate then the client would qualify for the rate class dictated by that factor. For instance, a client I am currently working with also is treated for high blood pressure which with this company would bring a preferred, no preferred plus rate. This client will qualify for preferred, still far better than the competition.
Bottom line. Call it a loophole. Call it brilliant underwriting. But if you fit the criteria make sure you contact an independent agent today and see what kind of savings you might qualify for.
July 22nd, 2009
Wanted. 60+ year old type 2 diabetic. Diagnosed in last 5 years. Good control with A1c 7.0 or better. No complications. You have won the prize.
I’ve been working with the diabetes community for a long time and never thought I would be able to announce that a company would offer their best rate class for someone with diabetes. Hello! Three approvals later I am ready to call this more than just an anomaly. It is a genuine breakthrough and the word needs to get out.
This highly rated company really means it and they aren’t pulling any bait and switch games. They have studied the mortality risk in this group and are convinced that it is no worse than a person the same age with no health issues. This is bigger than huge, cutting the potential cost for life insurance more than in half compared to what used to be the best case. For some in this category these rates could end up being a third or a quarter of what you’re being quoted through other companies.
The even better news here is that with this breakthrough underwriting, there is hope that further mortality studies will open up even more opportunity.
Bottom line. If you fall into this category and need life insurance or need to replace overpriced insurance you have in force, don’t wait. If you know someone in this group, get the word to them. Preferred Best rates! It just doesn’t get any better.
June 10th, 2009
Usually the first shot in the arsenal of ways to deal with type 2 diabetes is diet and exercise. The great thing if it works is that the diabetes can be controlled or beaten, a life style changed, and absolutely no negative side effects.
The American Heart Association has released guidelines for exercise for those with type 2 diabetes that look strangely similar to the guidelines they recommend for everyone else who wants to stay heart healthy. The difference is in the urgency. 70% of deaths in type 2 diabetics are heart related. It is a disease that just takes no prisoners among those who don’t fight back.
I’ve shared in previous posts how our current economy is hitting those with chronic diseases hard, often leading to self adjusting medications to keep the cost down. The two and a half hours of moderate exercise that the AHA recommends weekly is a free way to take back some of the control that the recession has taken away. With obesity being the leading cause of type 2 diabetes and heart disease being the leading cause of death from type 2, obviously anything that can be done to work on weight and strengthen your cardiovascular system is going to be in your favor. The truth is that if you can manage to take control of the obesity issue, you can often kick the need for diabetes medicine altogether.
One of the biggest concerns with diabetes is its’ progression, both where it comes from and where it leads to and the mortality risk associated with the health issues along that whole path. If in the beginning is obesity, then underwriters are not only looking at diabetes, but a host of other health issues including heart disease, high blood pressure, stroke and cancer. On the other end of the journey uncontrolled diabetes can cause kidney damage, eyesight problems and heart disease.
Having said all of that it’s hard to imagine that anyone with type 2 diabetes would be approved at all for life insurance, but like most chronic diseases, if well controlled and taken seriously, the mortality risk and risk of complications is dramatically reduced. For the best underwriting success with diabetes an underwriter would like to see onset after age 50, an A1c of 6.5 or under, and no other collateral health issues. Very often this can mean standard or better rates are available. If a person is age 60 and has had diabetes for 5 years or less, at least one company has indicated their best rate class is available.
Bottom line. Just like everyone has been telling us forever, eat right and get plenty of exercise. The benefits go way beyond good life insurance rates with demonstrable changes in health and lifestyle making quality of life what we really all wish it would be.
June 8th, 2009
American Heart Association twitter this morning, “80% of sudden cardiac arrest victims collapse at home. Are you ready to save someone you love?” It provided a link to a CPR website.
This Twitter @HeartofDiabetes is all about education on the link between diabetes and heart disease. This is a subject that we have continually talked about, the fact that when a life insurance underwriter looks at obesity and/or type 2 diabetes, they know that without effective management and excellent control other health issues are likely to follow. It’s not like the only thing they have to weigh is the chance of a person with diabetes going into a diabetic coma.
It’s the combination of risk factors and collateral health issues that an underwriter has to weigh when they consider an application. Especially in the overweight population having type 2 diabetes puts them at risk of high blood pressure, stroke, coronary artery disease and kidney damage along with a host of issues that have a lower mortality risk. The key to avoiding the downhill slide into health issues that will change your life and can end your life is taking the situation seriously.
Education, compliance and control should be the mantra. Know about your diabetes. Know what it is, what makes it worse and what makes it better. Know how worse and better are measured. Educate yourself on diet and exercise programs. Learn about the direct correlation between obesity and diabetes. Learn what the hbA1c is and why it’s important to keep it in a controlled range.
Compliance is all about listening to your doctor and following recommendations and prescribed treatment. When you don’t feel like you’re getting the information you need from your doctor, finding a diabetes education forum or a professional diabetes educator to help you take control of your condition and your life.
The good news with life insurance is that a diagnosis of diabetes doesn’t knock you out of the running for competitive, affordable life insurance rates. Given good control and no other risk factors, standard or better rates are not uncommon. If you are over age 60 and diagnosed in the last 5 years you actually have a good shot at preferred plus rates with one of our companies.
Bottom line. Diabetes is a destructive disease if not taken seriously. The diagnosis is a wake up call that you should definitely not be hitting the snooze button on.
May 29th, 2009
Guilty as charged. I am one of those recovering saltaholics that grabs the salt shaker and tops off a meal before I’ve even taken a bite to see if it needs it. I love salt and although I am getting better about at least giving something a taste first, the truth is, well, I’m still recovering and fall off the wagon occasionally.
A high salt/low potassium diet is a pretty reliable ticket to the land of high blood pressure, stroke and some types of asthma. A topic of considerable attention lately has been the unbelievable amounts of sodium found in some of the most popular dishes in some of the most popular restaurants most of go to at least occasionally. Sometimes it seems to me that restaurants offerings are kind of self defeating. They make meals taste good by adding large amounts of salt and it often tastes so good that people are driven to eat every last bite, which unchecked leads to obesity.
Now perspective is a good thing. No reason to freak out if there really isn’t a reason, right? They (whoever they are) say that the maximum sodium intake for an adult should be about one teaspoon daily. I am an admitted saltaholic and if I were presented with a salt free day’s worth of meals, I doubt that I would add an entire teaspoon over the course of a day. That’s a lot of salt!
My downfall comes when I eat dinner out at a restaurant that knows two things for sure. 1. We, as a nation, love salt and want it on most everything we eat and 2. The more salt we eat the more beverages we tend to drink. Chili’s restaurants are one of the most consistent abusers of sodium out there. That one teaspoon is roughly equal to 2300 mg. Just a few of Chili’s sodium busting treats are their boneless buffalo chicken salad which sounds healthy but has 4400 mg of sodium, about twice what you should take in on a daily basis. Then there is their Southern Smokehouse Bacon Big Mouth Burger which tops the sodium scale at 4150 mg.
PF Changs has proven to be the king of salt. Their Hot and Sour Soup Bowl tips the scales at an amazing 6878 mg. 3 times the daily recommended maximum in one bowl of soup. I’m wondering if that soup really, really tastes bad and they hope that enough salt will cover it up.
Given the kind of abuse your body goes through at these restaurants, it’s a wonder that life insurance applications don’t ask where and how often you eat meals out. While hypertension and even a stroke can be underwritten at good rates, if a person is hanging out at the who’s who of salty foods, they have to present a higher mortality risk than those who actually monitor their salt intake at almost any level.
Bottom line. Eating right is simply not part of the American way of life and our habit of ignoring how food is prepared, especially the salt and fat that is used, is a recipe for obesity, type 2 diabetes, high blood pressure and stroke. It may be time to ask for sodium confessions before we order a meal.
May 18th, 2009
There was a time when I had a whole different view of obesity and gastric bypass. I think the majority of folks still look at the whole thing through somewhat jaded and certainly uneducated eyes.
I will just be right up front and ask to be forgiven for the way I felt about the issue. I truly had no idea back then just how hard it can be to break the cycle of obesity and I truly had no idea just how at risk of premature death someone could be if they were extremely overweight. I just thought of it as a control problem and a gastric bypass as an easy way out.
After years of study I have a much different view of obesity and just how difficult it is to make meaningful changes in your weight and I also had a much greater appreciation for just how much danger a person was in the longer the weight stayed on. The risk of high blood pressure and stroke, diabetes and heart disease are not things that can be taken lightly and certainly aren’t health issues that, if a person has a way of stopping them, should be put off or ignored.
The studied truth is that for those whose health is at risk due to obesity, gastric bypass is starting to not just be seen as measure of last resort, but as a prudent medical decision. Studies have shown that most people being treated for hypertension or type 2 diabetes can be off of medication completely within just a few weeks of having the surgery. In the truest sense the bypass surgery isn’t just a treatment, but a cure.
From a life insurance standpoint, gastric bypass is viewed cautiously until the weight loss has stabilized. This usually takes about a year. It’s during this year that complications can still crop up. Then, most of the companies that are good with obesity issues will want to see a year of stability before they will approve at standard or better rates.
Bottom line. Gastric bypass surgery is not just an obesity easy button. It’s a measured decision that can help save a person’s life.
May 11th, 2009
It’s been several months since there was any major movement on the life insurance underwriting scene for those with type 2 diabetes, but a major company today shattered that trend by announcing that are willing to approve at preferred plus rates within certain criteria. This certainly falls into one of those news worthy things that I would love to share with the American Diabetes Association, but they’ve made it clear that sharing good news is selling. DLife and TuDiabetes should pick up on it through Twitter.
The bad news is that it isn’t going to be for everyone. The good news is that a company would underwrite this aggressively for anyone with diabetes. It’s simply unprecedented.
From their head underwriter I got this underwriting synopsis, “60+ yr old Type 2 Diabetic, duration 5 years or less. Excellent control as measured by the A1c, on oral med or diet treatment. Balance of medical history favorable and no associated complications. All other factors fit Super Preferred. Case approved Super Preferred.” And while one case doesn’t make a trend, we have had one case approved under this scenario and all indications are that this will be their stance for the foreseeable future.
Being the careful kind of guy that I am I asked for clarification. I asked for clarification on what is considered “excellent control”? Answer was 7.0 A1c or less. How long does that A1c have to be at that level to qualify for best rates? At least six months. If the client doesn’t qualify for super preferred but meets all other criteria, how is their rate class determined? If the diabetes falls within the age and control guidelines given, they would qualify for whatever rate class they would get in the absence of the diabetes.
I know all of those younger than 60 will be crying foul, but keep in mind that we have been very successful at getting younger clients better than standard approved rates provided the control is excellent and there aren’t other risk factors that would bump them higher. It gives me hope that better news may come soon for those under 60.
Bottom line. We need to take this for what it is, great news. Call a knowledgeable independent agent today.
May 4th, 2009
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