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Life Insurance for People with Diabetes
If you have diabetes and you are angered by the fact you are likely to have to pay higher premiums for your life insurance you should know that you are not alone: millions of people have long-term illnesses or conditions that raise premiums, and many, if they shop around correctly, find an affordable policy they are happy with. There are things you can do to minimise the chance that you will be paying through the nose for a life insurance policy.
Life insurance firms, like the rest of us, need to make money, and numerous conditions and illnesses make insurers nervous. This may seem like an unfair stigma to chronic sufferers who have their condition under control, but you will have to comply with the way the system for working out premiums works. Legally, life insurance firms may charge a premium which is dependent on an applicant’s health, and extensive questionnaires and medicals can result. Although some plans are exempt from such conditional policies, you may be paying more than you have to if you take one of these out. In the best circumstances, a medical condition may result in a negligible or minor increase in the premium you will have to pay. In poor circumstances, a life insurance firm may refuse to provide you with a policy.
However if you look in the right places, the right way, you can be confident that you will obtain an affordable policy. For a start, check out insurers that specialise in providing policies to individuals with chronic conditions. Some firms offer policies geared specifically to those with conditions such as asthma, heart conditions, and other medical problems which include diabetes. Their premiums may be more reasonable, and their expertise may mean mitigating circumstances that lower your rates may be better understood and evaluated. To find a firm who may offer a policy that would suit you, shop around thoroughly. Look on the web, search directories and call a good spread of insurers, and ask friends or family with diabetes, or individuals you know in diabetes organisations or online communities, where they obtained their life insurance policy, and the premiums they pay. Consider contacting an agent who has experience in helping those with diabetes or an equivalent chronic medical condition, although ensure you are aware of their fees!
Policies will differ according to the results of your medical, therefore it is sensible to ensure that you are managing your diabetes the best way. If you have Type 1 or Type 2 diabetes, try to ensure that your A1C is as low as possible, that you control your blood glucose level appropriately, and that your general state of health is good. Control your weight by eating healthily and exercising frequently. Establishing good health reduces the chances you will suffer from complications from diabetes, which may also increase your premiums. If you apply for a policy from an insurer who offers ‘clinical underwriting’, then your overall state of health is examined, not simply the fact you have a medical condition.
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Advantage One Insurance
services include life insurance (whole life insurance, universal life insurance, term life insurance, variable life insurance), auto insurance, annuities, long term care insurance and more.
Advantage One Insurance
business philosophy is simple; give the consumer simple, objective advice, the best service available and excellent products.
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