Four tips for type 1 and type 2 diabetics who are looking for life insurance and don’t want to pay through the nose for it.
1. Learn about your diabetes. Be able to explain to an independent agent when it was diagnosed, exactly what your treatment is, and if there have been any collateral health issues. For type 1 diabetics collateral health issues might be kidney or eyesight problems. For type 2 diabetics, neuropathy or hypertension are often associated problems.
2. Know your lab results. If you are taking care of yourself, then you not only check your glucose frequently, but you also will likely get quarterly labwork and a consultation with your doctor. Your labs will have a lot of valuable information on it. Ask your doctor what the results mean. Ask if they are good or bad. Keep a copy for yourself each time you go so you have your own record. Ask about and remember what your A1C level is each time you go. Also keep a record of your blood pressure readings. Your doctor will take them every time you are there. If you already have hypertension, monitor your blood pressure at home as well.
3. Understand control and what it means for your life (and life insurance). With good control of your diabetes you can expect a long healthy life. If you don’t stay on top of your treatment and don’t avoid the temptation to be slack about your lifestyle, you can end up with coronary artery disease, retinopathy, and a host of other life changing and life ending problems.
4. If you are diabetic and are taking care of yourself, never, NEVER, let a life insurance agent tell you that you are uninsurable. A good independent agent will be able to find what you need at a reasonable rate as long as you have done your part and taken your diabetes seriously.
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.