I love it when companies finally make forward progress in life insurance underwriting of well controlled health issues. What I can’t work with is when they get weak kneed a year later and throw all the engines in reverse. We’ve been through that kind of whiplash nonsense with ING Reliastar multiple times where they announce some home run new underwriting stance and by the time you have a client that meets the criteria they’ve changed their mind. They’ve practically broken a lot of good agent’s necks with their new and improved underwriting of type 2 diabetes (preferred plus possible), sleep apnea (preferred plus possible) and mood disorders where they never really stated their stance but started giving great trial quotes, approved a few and then ran for the hills.
On the other hand we are going into about the third year of a multiple company shift in the underwriting of adult type 1 diabetes. Not everyone qualifies, which is fair, but if the diabetes is well controlled and there are no type 1 diabetes complications, we continue to get great approvals. No one is saying and don’t expect to see approvals at best rate classes, but any life insurance approval is a giant leap forward from the state of the issue 10 years ago when type 1 diabetes and approval were never found in the same email. In my mind and those of clients that we’ve gotten approvals for, the sweet spot is just being approved. Then there are admittedly areas that are even sweeter based on the length of time a person has had diabetes.
Type 1 diabetes has an insidious side that is unforgiving over the long haul to those who aren’t constantly taking the disease, monitoring and treatment seriously and doing that is no small task. I have the greatest admiration for those who are devoted to not letting diabetes take away their quality of life or, in the worst case, their life. They don’t let their guard down or slack off and are rewarded with stability in their health and good rates on life insurance.
So back to the sweet spot being those who have had type 1 diabetes the shortest time. Since we haven’t been able to get approvals for juvenile diabetics where the shortest time frames are, the prize really goes to adult onset diabetes. I think the best approval we’ve been able to get was for a 40 year old who was diagnosed at age 36 and jumped right on the compliance and control regimen with A1c’s averaging 6.8. We’ve also been able to get good approvals for juvenile onset adults as young as their late 20’s. These cases are getting the kind of underwriting they should, where they aren’t lumped in with everyone other person with type 1 diabetes, but are underwritten on their own merit.
Bottom line. I wish I could report that I found a company that would insure well controlled juveniles as well as adults, but I believe that day will come. For now if you have questions or have been declined due to well controlled type 1 diabetes, call or email me directly. My name is Ed Hinerman. Let’s talk.