Many believe that if you have any type of diabetes, you can’t qualify for a life insurance policy or it will be costly. As a result, there are many that won’t bother applying for the coverage that they need. While diabetes is a serious condition, it doesn’t automatically prevent you from qualifying for a life insurance policy. In fact, the majority of people that apply for life insurance with Diabetes are approved.
Diabetes encompasses several disorders associated with high blood glucose (sugar) levels. Of the estimated 30 million Americans with diabetes, roughly 25% are undiagnosed, and another 85 million adults are estimated to have a pre-diabetic condition.
Types of Diabetes
Type I Diabetes, previously known as Juvenile Diabetes or Insulin Dependent Diabetes, is most often diagnosed in children or young adults, though it can be diagnosed in older adults. This form of diabetes is caused by the body not being able to produce the insulin necessary to covert blood sugar and starches into energy that can be used as fuel. Since the body is unable produce the necessary insulin, insulin injections are necessary to control blood glucose levels.
Type II Diabetes, previously known as Adult Onset or Non-Insulin Dependent Diabetes, is the most common form of diabetes. With this condition the body makes insulin, but it is not able to utilize it properly. Initially, the body will make extra insulin to compensate, but over time the body will become resistant to the insulin and will be unable to properly manage blood glucose levels. Treatment of Type II Diabetes usually consists of diet, exercise and oral medications.
Pre-Diabetes is the condition characterized by frequent or chronic elevations of glucose, even when fasting. Some with this condition are prescribed medications to prevent or delay the onset of Type II Diabetes.
Gestational Diabetes occurs in nearly 10% of pregnant women. It usually occurs around the end of the second trimester of the pregnancy, where the mother may require as much as 3 times the normal levels of insulin to manage blood sugar levels properly. After pregnancy, most patients will return to normal state.
The Good News
Our firm uses a proprietary and tested Private Underwriting life insurance process to help clients with diabetes. The good news is that you can likely qualify for a new life insurance policy. We typically like to see a client have consistent and effective diabetes treatment for at least 6+ months. We review a client's medical history and discuss with insurance carrier underwriters as part of our private underwriting process. We keep clients in control of the process to ensure the best possible outcome.
Questions that will be asked during the private underwriting process:
Type of Diabetes
Age/Date of Diagnosis
Recent Lab Results/A1C
Any Complications from the Disease
Other Medical Conditions
Please contact us to discuss your situation and how we can help. Diabetes shouldn’t keep you from getting the life insurance you need.