Diabetes Life Insurance
Diabetes Life Insurance For Denver Residents
One in ten American adults has diabetes, according to the Centers for Disease Control and Prevention. Diabetes patients can get life insurance, but finding the right company is paramount. The good news is that, if your diabetes is well-managed and under control, you may qualify for a policy at a good rate.
Application Process for Diabetes Life Insurance in Denver
Diabetes makes you a higher-risk candidate for many insurers, just like other pre-existing conditions. Finding a company in Denver that works with diabetics and has experience helping them is so important. When you apply for life insurance, insurers carefully examine your diabetes medical history, overall health, and other factors. This helps them determine how to price your policy.
The most important factors insurers look for include:
- Your age
- Age of initial diabetes diagnosis
- Type of diabetes (type 1, 2, or gestational)
- How well you control your diabetes (measure by your A1c
- Treatments and how you manage your diabetes
- General health history
- Family medical history
- Alcohol and tobacco use
Diabetes Life Insurance Tip:
A type 1 diabetic’s life insurance is different from a type 2 diabetic’s. Type 1 diabetes cannot be approved for life insurance until you’re 30 with juvenile diabetes, 25 if you’re diagnosed in your teens, and if you’re diagnosed as an adult. Underwriting factors include your A1c, whether you use a pump or self-monitor, and whether you have any collateral health issues.
Diabetic Life Insurance Options in Denver
Ultimately, your budget will determine the type of policy you need. For your beneficiaries, something is always better than nothing.
- Term Life Insurance: Rates for these policies are the lowest and last for a set number of years, such as 10, 15, 20, 30 or even 40. You must complete a health questionnaire and undergo a medical exam in order to qualify. This is a good option for people with controlled diabetes.
- Whole Life Insurance: These policies provide lifelong coverage, and a portion of your premium is invested each month, giving your policy a cash value. Whole life insurance is typically more expensive than term life insurance, as well as requiring a medical exam.
- Guaranteed Issue Life Insurance: If your diabetes is not well controlled, this might be a good option. There is no medical exam or health questionnaire required. Policies range from age 18 to 70 with amounts up to $100,000.
Find Affordable Diabetes Life Insurance in Denver
The Hinerman Group has been very successful in finding affordable rates for individuals with diabetes. Reach out and let us help you find the best life insurance policy to fit your needs.
More Questions? Check Out Our Blog!
The Hinerman Group knows that every situation is unique and it can be difficult finding the best answers. Be sure to check out our blog where you will find a comprehensive bank of topics covered regarding Life Insurance. The background covered in The Hinerman Group blog will point you in the right direction and help you get your family the coverage you need.
Want to talk? Call Ed directly at (719) 539-7914 for a FREE CONSULTATION. *Ed released the fish and it went on to have a full life.