How Diabetes affects your life insurance rates:
It is important to note that not all companies will do a good job underwriting diabetes. You need to get to the right company in order to get the most competitive rates possible. We can help as we know which companies to go to.
Each company has its own set of underwriting guidelines, but all companies are looking for the following information:
Type - Are you a Type 1 or Type 2 diabetic?
Age at Onset - How old were you when diagnosed?
Control - Do you have good control of your diabetes? Do you test your blood sugar frequently. Is your doctor satisfied with your control of diabetes? Companies are looking for your fasting blood glucose levels, random glucose levels, and your HbA1c level. Your HbA1c reading gives underwriters an indication of your glucose control over the past 60 days.
Compliance - Are you following doctors orders? Eating the right foods, maintaing a healthy weight, eating the right foods, taking your medication as directed?
Complete Medical Information - Do you have thorough medical records? Have you been going to the doctor for checkups or do you skip appointments and only have sporadic records?
What to expect from life insurance companies:
Type 1 Diabetes:
If you look anywhere on the internet at the "standard" or "regular" rates of insurance companies, this would be a best case scenario, but only with a handful of companies. Most companies will take the standard rate and add 50-100% to the price depending on the above information. It pays to shop. We take your medical information and shop it out to a number of the most competitive companies. Once we receive feedback from those companies, we can run accurate quotes for you and get you to the most competitive company.
Type 2 Diabetes:
The underwriting for Type 2 diabetes is usually more favorable than for type 1 diabetes, BUT again it is important to get to the right company as that will make the difference in price. There are a number of companies that will consider type 2 diabetes at the "standard" rate, and even a few companies that will consider some for the "standard plus" rate.
