If you have type 1 diabetes or type 2 diabetes and have shopped for life insurance, you more than likely ran into a few stumbling blocks, a few roadblocks and some outright dead ends. The real problem is that you probably ran into an agent who didn’t understand what to ask and where to go with that information.
Life insurance underwriters look for 3 primary things when evaluating life insurance in relation to diabetes. The more accurate the information you can provide, the more likely that you will get the quotes and approval that you want.
1. Know the status of your diabetes! Know the lab work numbers. Everyone can remember their last glucose reading from their own test. If you want to seriously shop for good rates on your life insurance you need to know your most recent hbA1c. Underwriters aren’t impressed if your last glucose reading was 105. They are impressed if your hbA1c is 5.8. Why? The A1c averages your glucose levels over a 3 months period. It knows when you’ve been good and when you haven’t. A 5.8 would indicate that you are in fact keeping your glucose in a normal range. Each time you get labs done, get a copy. If you’re serious about your disease, you need to know what’ s on your labs.
2. Know your medications and be compliant with your doctor’s recommendation for your treatment! If the doctor says you need to take a 500 mg tablet twice a day, do exactly that. Don’t take the one in the morning and skip the one in the evening because you feel pretty good. Underwriters want to see compliance and control and you don’t get one without the other.
3. Know, monitor and remember the status of other risk factors. If you’ve studied diabetes you know that one of the concerns for underwriters is the potential complications such as heart disease, neuropathy and retinopathy. Because of this, it is critical that you not only keep your glucose in check, but also your blood pressure and your weight. Obesity and hypertension are not your friends in your quest for good health and they are not going to win points with underwriters.
In summary, control, compliance and risk factors. Do the right things to stay healthy and you’re doing what it takes to get competitive life insurance rates.
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.
My 20 years of experience give me the knowledge and leverage to find reasonably-priced life insurance for people who have been declined or are paying more than they need to.
Hi, Ed,
This is an interesting article. My daughter has T1 diabetes. The diagnosis occurred nearly four years ago, when she had just turned two. Her health status is excellent–her A1c has been in the mid-6’s for a year now, which is outstanding for a child of her age, and she has no complications.
I am an independent contractor and therefore have to procure private insurance for my daughter. So far, notwithstanding my daughter’s excellent health, NOBODY will insure her. Although she is currently covered by COBRA (because of her father’s past employment), that will not always be the case–and COBRA is costing me a usurious amount. My daughter is ineligible for the Texas Risk Pool insurance, which is much more affordable, until after the COBRA period has expired in another 14 months. To pay for COBRA for another 14 months is next to impossible. I fear my daughter may go uninsured, which then brings its own dire consequences.
Here is my inquiry:
Do you know any insurers who would insure my daughter? Everyone to whom I have spoken (many, many companies) has denied her coverage outright.
And…
If you don’t know who would insure her, what should my next step be?
Thank you very much for your time and consideration.
Sincerely,
Duana Welch
210.383.3673
duana@blabbermouthpr.com
Mrs Welch,
To be able to offer health insurance solutions as easily as life insurance would be a blessing. I’m very sorry that I don’t provide health insurance and wish you the best in finding what you need.