Having diabetes can make getting life insurance more difficult and expensive. However, there are steps you can take to improve your chances of qualifying for affordable cover. When you have diabetes, getting life insurance can be challenging, as insurance companies see it as a serious health condition that poses risks. Diabetes is known to potentially reduce life expectancy and lead to dangerous complications over time if not managed properly.
So applicants with diabetes often get classified into high-risk categories by insurers, resulting in higher premium costs. Insurance providers may even reject applicants if their diabetes is unstable or uncontrolled based on health history. But the situation is still possible, as you can take proactive measures to optimise your health and demonstrate that you are committed to managing your condition responsibly. This can help improve your chances of securing reasonably priced life insurance despite having diabetes as an existing medical problem.
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Understanding How Diabetes Affects Life Insurance
When applying f, particularly life insurance, insurance companies will assess your risk level based on your health conditions. Diabetes is a high-risk condition that can shorten lifespan and lead to complications like heart disease, kidney failure, vision loss, etc. Diabetes can particularly lead to serious complications like heart and particularly blood vessel disease, stroke, kidney failure, vision loss, nerve damage, and more. These types of conditions understandably make insurers nervous about approving cover.
As a diabetes patient, you will be evaluated based on the specifics of your condition, including factors like the type of diabetes you have (Type 1 or Type 2), how long you have had it, what medications and dosages you take, your latest HbA1c test results, whether you already have related complications, your history of hypoglycemic episodes, and any other health problems you may have. Insurance providers look at all these factors to determine how well your diabetes and overall risk level are managed.
Diabetes Life Insurance Expert*
Tips to Improve Your Chances
Here are some particular proactive steps you can take to improve your chances of getting affordable life insurance despite having diabetes:
Optimise Blood Sugar Levels
Work closely with your doctor to particularly keep your blood sugar levels, particularly in the target range as much as possible. For people with diabetes, an HbA1c level below 7% is ideal. The lower you can get your HbA1c, the better. Optimising blood sugar levels through diet, exercise, medications, and frequent monitoring is the number one thing you can do to manage your diabetes effectively. Work closely with your doctor to particularly devise a treatment plan to keep your blood glucose values within recommended target ranges through a combination of insulin therapy or other hypoglycemic medications.
Lifestyle adjustments like meal planning, carb counting, regular physical activity, and weight management can also help normalise glucose levels. Getting your HbA1c test down below 7% demonstrates that your treatment plan is working to control your diabetes. The lower your HbA1c reading, the better your chances of qualifying for life insurance, as it indicates you have your diabetes under excellent control.
Follow Medical Advice
Take all prescribed medications as directed. Attend regular doctor visits and lab tests. Be diligent about screening exams to catch any complications early. Following medical advice shows insurers you are committed to managing your condition.
You must follow your doctor’s recommendations regarding medications, appointments, lab tests, and screening exams. Take all prescribed medications consistently as directed, and do not alter dosages or stop taking medications without consulting your doctor first. Attend all recommended doctor visits and lab tests on schedule to closely monitor your health. Be diligent about getting regular eye exams, foot exams, kidney function tests, cardiovascular checkups, and any other screening tests your doctor orders.
Maintain a Healthy Lifestyle
Adopting healthy habits can help stabilise blood sugar. Eat a balanced, low-glycemic diet high in vegetables. Exercise regularly to manage weight. Limit alcohol. Don’t smoke. Reduce stress. Making positive lifestyle changes demonstrates lower risk.
In addition to medical treatment, making healthy adjustments to your daily habits and lifestyle can make a big difference in keeping blood sugar stable. Follow a balanced, diabetic-friendly diet emphasising vegetables, lean proteins, high fibre, and low glycemic index foods. Limit carbohydrate consumption by avoiding sugary foods, fruit juices, white bread, and other refined carbs. Get regular moderate physical activity to help manage body weight, directly impacting insulin sensitivity.
Enrol in a Disease Management Program
Some insurance companies offer diabetes management programs. Enrolling shows insurers you are actively managing your health. Completing a program can sometimes result in more favourable rates. See if any insurance carriers you are applying with offer specialised diabetes management programs.
These programs help patients control their condition through periodic nurse coaching calls, health reminders, educational resources, and discounts on medications and supplies. Simply enrolling in such a program indicates to the insurance company that you are motivated to manage your health proactively.
Shop Around
All insurers have different risk assessment practices. Don’t just accept an initial rejection or high quote. Apply with multiple insurers to find one willing to offer affordable cover based on your specific health profile. Comparison shopping is key. Because each insurance company assesses risk differently, it is very important not to simply accept an initial denial or sky-high premium quote if you get one.
Be prepared to apply with numerous companies, comparing quotes and terms. Look for insurers who use more nuanced, individualised underwriting practices rather than just lumping every diabetic into the highest risk tier. Find an insurer willing to take a closer look at the specifics of your case and offer more affordable pricing reflective of your controlled, stable health status. Applying broadly gives you the best chance of getting cover. Or, you could get a specialist broker and let them do all the work for you.
Diabetes Life Insurance Expert*
Consider Guaranteed Issue Plans
For those with very poor health, guaranteed issue life insurance plans are available that do not require a medical exam. While cover amounts are lower, they ensure access to some cover. Suppose your diabetes is very advanced or uncontrolled, and you are denied traditional cover. In that case, there are special guaranteed issue life insurance products you can look into as a last resort. With guaranteed issue plans, approval is ensured regardless of health status, so diabetics can at least obtain some basic cover this way. Learn more about guaranteed insurance here.
Work with an Independent Agent
An independent broker can help you strategically complete applications and shop policies from various insurers to find the best rate available, given your health. Their expertise improves outcomes. Consulting with an independent, knowledgeable insurance agent is highly recommended when shopping as a diabetic. An agent has extensive experience handling higher-risk life insurance cases for conditions like diabetes. They can advise you on how to present your specific health situation on applications in the best light possible. They will also have access to a wider range of insurer options, including smaller companies you may need to be made aware of. If you want to know why a specialist broker is essential and all the benefits they come with, click here.
