As the world turns! I suppose changes in life insurance underwriting are probably researched and well thought out, but at times it feels like underwriters just wake up on a different side of the underwriting bed and decide to shake things up. Occasionally a change will be so far out there that I swear the underwriter was abducted and their brain exchanged for alien spare parts…..fodder for a less serious blog!
With type 2 diabetes , the past benchmarks have always been a hemoglobin A1c below 7 and onset after age 40. If all other risk factors were well controlled there were a number of companies that would offer standard and even better than standard rates.
Several companies have quietly nudged their hbA1c requirement down to 6.5. Allie Beatty who is one of the most prolific bloggers on the subject of diabetes, has offered her opinion that the A1c is not necessarily the bottom line measurement of control for diabetics. I shared her thoughts with several underwriters and the vice president of the largest reinsurance company in the world. None of them responded, or maybe they did. The A1c requirements have tightened.
The shift in underwriting the age of onset is almost a rebound effect. 10 years ago the most favorable underwriting was if the age of onset was after 60. Then there was a shift to favorable underwriting at onset over 40 as long as all the risk factors were well controlled and the person was compliant with treatment. Now the earth has shifted again and age 50 is the magic number.
Bottom line. The guidelines above don’t apply to every company. A good independent agent can still find great rates if you have type 1 diabetes or type 2 diabetes. Your job is to keep control of the problem, be compliant with your treatment, and keep risk factors like high blood pressure and obesity in check.
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.