If you have diabetes and you are angered by the fact you are likely to have to pay higher premiums for your life insurance like life insurance seniors, you should know that you are not alone: over 23 million people have diabetes and millions more have conditions that raise premiums. However, if they shop the market correctly, finding an affordable policy with adequate coverage can be easy. There are things you can do to minimize your cost for a life insurance policy.
-Try and keep your AC1 count as low as possible. Know your numbers and how they vary throughout the day. This information can be helpful when scheduling the exam for optimal blood tes results.
-Eat Healthy and Exercise. Being healthy overall goes a long way when factoring in your life insurance rates for diabetes.
-Have your own physical done before with your primary physician. If it is possible, and you are able to meet with your primary doctor for an overall check up prior to the insurance medical exam. This will give you a good idea of what results will be provided to the insurance carrier's underwriter. If you have any issues in regards to height and weight, or higher than normal AC1 count you can address those at that time. This will allow you to have your health and diabetes completely under control before the insurance provider obtains their examination.
-Low Carb Diet. On the morning of your insurance exam you should try and avoid high carb foods. These will throw off your blood tests wich may result in higher premiums.
-Consult with an Agent who specializes in Life Insurance for Diabetics. Having an experienced broker who has worked with diabetics in the past will go a long way. Some companies are more favorable to young people with diabetes, where others may be more competitve for people who are diagnosed at a older age. Be open and honest with your agent and do not try to hide anything. This will allow them to find the best company for you.
Life Insurance companies charge more to those who are being treated for medical conditions. This may seem like an unfair stigma to chronic sufferers who have their diabetes under control, but it is always more than an non diabetics will pay. Payments are determined by the applicant's health and a number of different factors. Life Insurance underwriters will obtain extensive questionnaires, an insurance physical and your medical records while figuring out your health class rating (which determines your cost of insurance).
In best case scenario, being treated for diabetes alone may result in a standard health class rating, where you are paying non rated prices, which are much more affordable than individuals seen as rated high risk. In poor circumstances, a life insurance carrier may issue you a rated policy, which is more expensive and may require an additional flat rate fee. This is based on your A1C and how well your diabetes is managed. Worst case scenario, you are declined by the carrier and they will refuse to issue you a policy. If that occurs you can re-apply with a carrier who is known to specialize in Life Insurance for Diabetics.
However if you look in the right places, the right way, you can be confident that you will obtain an affordable policy with carriers who offer diabetics very competitive life insurance quotes. For starters, check out insurers that specialize 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. To find a firm who may offer a policy that would suit you, shop around thoroughly. The best way to do so is by Looking on the web. Try and find an independent agent or broker who specializes in Diabetes life insurance. A broker or independent agent has the ability to quote and write with any insurance provider. This process not only saves you money, but saves you a lot of time from having to approach each provider individually to obtain rates for diabetics. Another way to know if you are overpaying is to ask friends or family with diabetes, or other individuals you know in diabetes organizations or online communities. They may have obtained a life insurance policy and can offer you additional guidance.