I was recently speaking to a woman in Arizona and she made the comment that her husband would really like to have term life insurance, but he had been told that he was uninsurable. Being the nosy kind of guy I am, and knowing that she is a nurse and would have good information, I asked about the cause of his uninsurability. She indicated that more than one agent had indicated to her that because her husband had type 1 diabetes, he was uninsurable.
I asked about his treatment, which was an insulin pump. I also asked about his most recent blood workup with his doctor, and specifically his HbA1c. She indicated that it had been as high as 9, but since starting on the insulin pump, it had dropped to 8. I asked about collateral health issues that are sometimes caused by diabetes such as kidney and eyesight problems. He didn’t have any of those issues. His build, height and weight, were within reasonable limits.
This a classic example of what happens when people, through no fault of their own, place faith in the statement of an insurance agent, not knowing if that agent has the knowledge or the resources to properly address their needs. They never find a good independent life insurance agent to shop the same facts. The agents they had talked to before were either captive agents who only represented one company, or agents who didn’t understand diabetic underwriting and what companies to go to for the best life insurance quotes.
Given good, or even moderate control, a type 1 diabetic or a type 2 diabetic should be able to get fair and affordable life insurance quotes, as long as their other risk factors are also favorable.
Other common misconceptions that are spread by agents that don’t know any better are that you can’t get life insurance if you have asthma, if you’re over age 75, if you weigh too much, if you have had hepatitis, breast cancer or prostate cancer. Bottom line, don’t accept uninsurable as the answer unless you have consulted an indepedent life insurance agent.
This post is somewhat dated. Life insurance underwriting is changing and evolving continually. For more updated information check out some of the key word links. If you have a specific question or topic you need information for do a search. If you don’t find the answers you need contact me and we’ll make sure you get the information that is important to you.