10 Most Frequently Asked Questions

Diabetic Coverage Solutions has helped diabetic get covered even when the diabetic didn't think coverage was possible. We've put together a list of the Top `10 questions received from diabetics regarding the process of obtaining life insurance.

Can I qualify for life insurance if I have diabetes?

Answer: Yes. Although its often assumed that a diabetes diagnosis is a disqualifying factor, this is simply not true. However, your advisor must be well-educated in the means by which to get you qualified. This comes down to knowing which carrier can underwrite the policy with your best interest intact. Not all carriers are diabetic-friendly. Your advisor must know which carrier is best for your specific set of conditions.

How will my diabetes affect my life insurance premiums?

This depends upon a number of factors. Remember, your health will determine the premium. Meaning, the healthier you are, the better you will qualify. Thus, the less severe your diabetic conditions, the lower your premium will be. Understand this: it's all about controlling the condition. The carrier wants to see that you have your diabetes under control with diet, exercise, and medications if needed. Each of our carriers has unique requirements when qualifying diabetics. Your advisor must match your specific condition to the respective carrier.

Are there specific insurance companies that specialize in providing coverage for diabetics?

Yes. This is something for which to be grateful, which is why we specialize as well. We have built relationships with carriers who not only underwrite insurance coverage for diabetics, but a couple of carriers promote the management and improving of the diabetic conditions. Ask us about programs that reduce the premiums as your conditions improve with the participation of healthy lifestyle initiatives.

How does my age at the time of diabetes diagnosis affect my life insurance application?

The timing of your diagnosis is a factor that carriers consider. Type 2 Diabetes is a condition that develops over time. So, the earlier the diagnosis, the longer the lifespan for the insurance carrier to carry the risk. This is where management is crucial. Diabetes is not a curable disease, and the carrier needs to be confident that you have it under control. Your advisor will get you set up with the right carrier with the right coverage; it's up to you to take control of your diabetes. Late diagnoses are not as difficult to underwrite. In fact, we are highly successful at getting our clients top coverages regardless of a diabetes diagnosis.

What happens if my diabetes worsens after I obtain life insurance?

Although we want to promote healthy outcomes by managing diabetes properly, sometimes the condition may worsen. With life insurance underwriting, the rules are clear. The whole life policies we write have "locked-in" premiums. They will never increase while the coverage will never decrease, no matter the change in health.

Will I need to undergo a medical exam to get life insurance as a diabetic?

No. Your advisor will guide you through the application, which will have some medical questions. These basic questions will help the advisor to determine which type of coverage you should seek on the application. Most applications will not require that a medical exam be ordered. The carrier has access to the MIB (Medical Information Bureau), which will provide the carrier with your medical history. In some instances, however, certain coverage types will require that you confirm health status with a APS (Attending Physician Statement) or blood test.

Are there specific types of life insurance policies available for diabetics?

Yes. We work with carriers who have designed specific programs for diabetics. Some programs allow you to log and report your activities and condition improvements, which then offer benefits based on the forward progress.

Will my diabetes-related complications affect my ability to get life insurance?

No. Complications won't prevent you from getting coverage, BUT they WILL potentially determine the level of coverage. Let's explain: Certain complications, such as neuropathy, retinopathy, or amputations, will affect certain aspects of the policy. These include the amount of coverage offered, the premium amount, and the date your full coverage begins. If your complications are severe enough to lower your qualification, your advisor will explain to you how your policy will be affected. Typically, the policy would carry a 24-month period of graded payouts until month 25 where the full benefits kick in.

Will my A1C levels impact my ability to qualify for life insurance?

Yes. Insurance carriers will want to see your most recent A1C level. The advisor will likely also ask you for your history of A1C levels. Just as the doctor uses your A1C reading to determine your diabetes diagnosis, your A1C could determine your potential for coverage. However, in Type 2 diabetics, A1C levels are managed by things YOU CAN CONTROL. Your diet, your exercise levels, and even your medications, are controlled by you. Your advisor will help you find the right carrier who offers the best coverage to match your A1C.

Can I increase my chances of getting approved for life insurance as a diabetic?

Absolutely. Diabetics are not confined to a nonqualifying class. In fact, with the increased focus on diabetic life insurance, we have seen more diabetics get coverage now than ever before. The level of coverage if the key emphasis. Your advisor will find what best suits your need. You can help yourself by taking steps to increase your health and diligently manage your insulin levels. You can increase your coverage level respectively to your increase in health.

Diabetic Coverage Solutions