Researching the online market for Term life insurance quotes is usually a simple process. Life insurance is a very important purchase to make and you want to have the peace of mind you made the right decision. It is only human nature to want to find the most comprehensive policy at the lowest possible rates. Purchasing life insurance when you have Type 1 or Type 2 Diabetes is even more involved due to the fact that Diabetes is known as a high risk medical condition.
Literally thousands of folks with Diabetes are turned down every year or end up paying too much money in premiums. This happens when they failed to contact an independent agent who specializes in working with high risk medical conditions, it is just that simple. There are many highly rated and trusted life insurance companies that will provide you with affordable Term life insurance quotes with Diabetes.
The most important aspect of applying for life insurance with Diabetes is applying with the most applicable company that will give you an approval along with the lowest rates you can qualify for. This holds true if you have either Type 1 Diabetes or the type 2 version.
Purchasing life insurance with Diabetes will probably be much more affordable than you think.
This article will be all about this common medical condition and how to successfully apply for life insurance and not pay a penny more than you have to. This information you will be reading will take some of the mysteries out of buying Term life insurance and point you in the right direction. Applying for life insurance with Diabetes is going to be much easier and quicker than you may ever believe especially when you are working with an experienced life insurance specialist.
What Are the Symptoms of Diabetes?
The symptoms of type 1 diabetes most commonly are:
Increased thirst – Some people become thirsty and have a drink of water only to find the thirst begins shortly after they last drank.
Increased hunger – Many times a person with Diabetes can eat until they are full only to become hungry again and hour or two after they last ate.
Dry mouth – Some Diabetics complain of a dry mouth sensation just like what can occur from a very nervous situation they were exposed to.
Frequent urination – Many Diabetics complain of urinating and then the feeling returns shortly after they just urinated.
Unexplained weight loss – Weight loss can occur even though the individual is eating properly and taking in more than enough calories.
Fatigue – A feeling of being over tired and weak.
Blurred vision – Distorted vision symptoms.
Let us first take a look at what Type 1 and Type 2 Diabetes is all about.
Your family doctor probably informed you on how Diabetes works in your body but here is a rundown of what basically happens with this condition. Anytime you sit down and eat your food, your body will convert the food into glucose which in essence is a form of sugar. Glucose is what you need to make your body function and give you the energy you need to perform your normal daily work and activities.
Your bodies Insulin that is produced is actually a hormone that converts sugar into the energy you need to function properly. Anyone with Diabetes will find through bloodwork that either their body quit producing Insulin or the Insulin that is produced is not enough. When this happens, too much sugar or glucose builds up in the body and is not absorbed by your blood cells properly.
To understand diabetes, first you must understand how glucose is properly processed by the body.
How insulin works –
Insulin comes from a gland situated behind and below the stomach which is the pancreas which is a vital organ in your body.
The pancreas is supposed to secrete insulin into the bloodstream as it is needed. The insulin circulates, enabling sugar to enter your blood cells. Insulin must properly lower the sugar content in your bloodstream. As your blood sugar level drops, so does the secretion of insulin from your pancreas do to the fact less is needed.
The important role of glucose in the human body –
Glucose is a valuable source of energy for the cells that make up muscles and other body tissues. Glucose comes from the food you eat and your liver.
Sugar is absorbed into the bloodstream, where it enters the blood cells with the assistance of insulin. Your liver stores and makes glucose to fuel your body. When your glucose levels are low, such as when you have not eaten properly, the liver breaks down stored glucose so it is within a level normal operating range.
Here are the main causes of type 1 diabetes –
The exact cause of type 1 diabetes is not fully known. What is known is that your immune system which normally fights harmful bacteria or viruses also attacks and destroys your insulin-producing cells within the pancreas. This leaves you with little or no insulin to function with. Instead of being transported into your cells, sugar builds up in your bloodstream.
Type 1 Diabetes is thought to be caused by a combination of genetic and environmental factors but those factors are still unclear.
Causes of pre-diabetes and type 2 diabetes –
The condition Pre-diabetes can progress into type 2 diabetes. With type 2 diabetes, your cells become resistant to the action of insulin, and your pancreas is unable to make enough insulin to overcome this resistance. Instead of moving into your cells where it’s much needed for energy, the sugar keeps building up in your bloodstream.
Exactly why this happens is uncertain, although it’s believed that genetic and environmental factors play a role in the development of type 2 diabetes. Being overweight is strongly linked to the development of type 2 diabetes, but not everyone with type 2 is overweight.
Causes of gestational diabetes –
During a woman’s pregnancy, the placenta produces hormones to sustain the pregnancy. These hormones make blood cells more resistant to the insulin output.
Normally, your pancreas responds by producing enough extra insulin to overcome this resistance. But sometimes your pancreas can’t keep up. When this happens, too little glucose gets into your cells and too much stays in your blood, resulting in gestational diabetes. Usually this problem diminishes after pregnancy.
The Diabetes problem in the United States –
It is estimated that approximately 28 million people in the United States have some form of Diabetes. The statistics clearly show that close to 10% of the total population in America including adults and children have been medically diagnosed with Diabetes. This does not include the estimated 8% more people that have Diabetes but were never diagnosed with the condition due to the fact they were never tested for it.
There are 3 basic forms of Diabetes –
Type 1 Diabetes –
Most people are familiar with Type 1 Diabetes which is also referred to as Juvenile Diabetes because most people in this category were diagnosed many years ago, when they were just very young children. Patients that have Type 1 Diabetes are normally dependent by the daily use of insulin by means of Insulin injections. This usually stems from their Pancreas failing to produce enough Insulin or even no Insulin what so ever. The Type 1 version is the highest risk version observed by the medical profession and the life insurance companies.
Type 2 Diabetes –
The Type 2 version is the milder version because the human body can produce Insulin but the level of Insulin produced is not sufficient enough to lower the glucose levels in their body. When this happens the sugar content in their body is at an elevated level.
Gestational Diabetes –
The Gestational version normally occurs in pregnant women that have never had any of the Insulin lacking symptoms until they became pregnant. In most cases this condition will diminish after the pregnancy has been completed.
How the life insurance companies rate these three versions of Diabetes –
Type 1 Diabetes is considered the highest risk version of the three followed by Type 2 and then the least risky version by far would be the Gestational version.
Hazardous occupations and sports can also be involved with an application for Diabetes.
Quite a few people have jobs, hobbies or sports that offer a hazardous environment. Here is a list of some of the occupations I am referring to:
*Airplane and Helicopter Pilots
*Roofers, especially using hot tar
*Iron and Steel Workers
*Farmers and Ranchers
*Truck Divers, long and short haul
*Construction Workers including Loggers
*Electrical Power Line Repairmen
*Refuse and Garbage Collectors
An application for life insurance with Diabetes can be complicated with an individual’s dangerous occupation.
How does smoking complicate an application for life insurance with Type 1 or Type 2 Diabetes?
Adding smoking into the formula complicates the application due to the fact that smoking is very dangerous to a person’s health.
When you start out with Diabetes on the application and then incorporate smoking into the picture you now have a much tougher situation to work with. The combination of continued smoking along with having Diabetes tells the life insurance company that you apparently are not that concerned with your health or you would have given up smoking.
The rates just for smoking could easily triple a life insurance application. Adding smoking to a Diabetes condition could trigger a decline on the policy. The way the underwriters look at the situation is, Diabetes is bad enough without complicating your health with smoking, especially cigarettes.
How obesity effects your life insurance application with Diabetes –
Being overweight while having Diabetes is another serious issue. Many times, being overweight is one of the main causes of Diabetes in the first place. Most people that suffer from Diabetes are overweight but they do whatever is necessary to lose weight to less intensify they Diabetic condition. Being overweight can lead to the condition becoming worse and making very unstable and hard to keep the condition controlled.
This is what the life insurance companies worry about. How the condition looks today and how it is going to look years down the road can be two different stories. Obesity is one of the major causes of fatal strokes and heart attacks in the United States.
Here is how Diabetes in any form effects a life insurance application –
Diabetes is looked upon as a medical condition that can damage any and all internal organ of the human body from the teeth in your mouth to your precious eyes and quality of vision. Adults with Diabetes can be 5 time greater at risk from acquiring heart disease and having a stroke if the disease is not kept under control by prescription medication, exercise and weight control.
Life insurance companies look closely at how the applicant maintains their Diabetes condition.
Diabetic adults are two to four times more likely die of heart disease and stroke than an adult without diabetes. You can see why insurance companies pay close attention to whether a person is controlling their blood sugar or not. Diabetes patients are expected to see a doctor on a regular basis to make sure their condition is kept under control. This question will be very important on a life insurance application.
Diabetes is considered as a high risk medical condition and the premiums needless to say will cost more than an applicant without Diabetes.
Life insurance companies have a list of rate classifications that will classify each and every applicant in order of what kind of a risk they are and how great the odds are of having to pay out a death claim. Instead of a Diabetes applicant receiving preferred rates like a very healthy person would, they would normally be placed in a standard rate class with a possible rate up. A rate up would be indicated as a number or letter systems such as “Standard” with a B, C, D, E, F, H, I, J or a number system such as “Standard” 2,3,4,5,6, 7, 8, 9 etc.
A medical pre-screen performed by your life insurance agent will determine what life insurance company would give you the best rate class possible for your specific medical conditions. When you receive the best possible rate class, your premiums will work hand in hand to receive the lowest life insurance rates. Needless to say, receiving the lowest life insurance rates is the name of the game. Nobody wants to pay any more than they have to.
How does the life insurance company determine what your rate class will be?
Your rates will be based on a number of factors –
Age – The younger you are, the less the premiums will be.
Your Gender – The statistics show women live longer than men do and they also go to the doctor more often for checkups which could lead to diagnosing a medical condition before it has time to advance.
Overall Health – Your overall health history will be taken into consideration. This would entail any prescription medication taken on a regular basis regardless what it is for. Also, if you have any other medical conditions such as high blood pressure, high cholesterol, anxiety, depression or any other medical conditions.
Parents Medical History – This would only include medical conditions such as heart disease or Cancer that could be passed down to you through genetics. They would be looking for any pre-mature deaths with your parents relating to one of these problems which would even include Diabetes.
Onset of Diabetes – The onset of Diabetes would be the date you were first diagnosed with the condition.
The Type of Diabetes – This would be your Type 1, Type 2 and Gestational Type.
Blood Sugar & Glucose Levels – If your Glucose levels are within normal specs that will be a very positive mark in your favor. Regular visits to your doctors along with regular blood tests will help you keep your readings in check.
A1C Readings – The A1C test will measure the glucose also known as blood sugar in your blood by assessing the amount of glycated hemoglobin. A A1C level below 5.7 percent is considered normal. An A1C between 5.7 and 6.4 percent signals pre-diabetes. Type 2 diabetes is diagnosed when the A1C is over 6.5 percent.
Is it difficult to obtain Term life insurance with low rates for Diabetes?
No, not usually if the condition is controlled but always remember that it pays to work with an independent life insurance agent that represents many companies and has sufficient experience with high risk medical conditions and especially all the versions of Diabetes. This would be just like a person needing a lawyer for a criminal violation and not consulting with a criminal lawyer but contacting a lawyer specializing in real estate law instead.
What life insurance companies work well with Diabetes applicants?
There are a number of excellent companies for people with Diabetes such as Banner Life, AIG American General, Voya Financial-ReliaStar, Prudential, John Hancock, Sagicor and Anico among a few others.
No medical exam life insurance for Diabetics is also available to consider.
As a normal rule of thumb, when you apply for No Medical Exam life insurance for Diabetics you will not have to take a physical exam. The life insurance company can still request medical records from your doctor and also have you complete a formal application either on paper, online or over the telephone. Keep in mind that although these No Medical Exam type policies have a quicker turnaround time and eliminate the Para-Med exam, they also normally come with a higher premium also. A fully underwritten policy will usually be the way to go to save money. You may run our life insurance quote engine to instantly compare Term life insurance quotes for people with Diabetes.
If your Diabetes is easily controlled by diet, medication and exercise you will be in good shape when it comes time to apply. The life insurance companies want to make sure that you are doing everything you can do to make sure your condition is being properly maintained and not neglected which could lead to a much more serious condition.
How can you find out what Term life insurance with Diabetes would roughly cost right now without waiting?
If you want to get a basic understanding of what life insurance would cost you, complete the form on the right and choose your face amount, term period and use a “Standard” rate class for all practical purposes. This should give you a good idea on how much you should expect to pay. Keeping in mind this would be just a simple projected amount. A final premium would be determined after the application process is completely finalized.
Here is what all this should mean to you when the smoke clears.
The best news about applying for term life insurance with Diabetes is you should not have any problem if your condition is properly kept under control. The rate class you are placed in can sometimes be unpredictable. However, if you follow the information you have read in this blog post and work with a good agent you should end up having a very positive outcome when you apply. You can always apply with more than one company to see if you can better offer from another carrier.
Take advantage of our modern consumer quote engine and compare over 40 companies side by side in less than a minute.
If you have any questions pertaining to the subject of life insurance quotes with Diabetes, don’t hesitate to call us. There is never any cost or obligation for our help. We are available 7 days a week to answer any of your questions. I hope this article helped answer many of your questions. We have over 20 years experience helping people purchase affordable life insurance products along with high risk medical conditions.
If this information sounded confusing and complicated don’t feel bad because it is. Just grab the phone and give us a call and we can explain everything in detail for you and make sure you totally understand everything so you can make an education decision when you decide to apply for life insurance. Take care and stay healthy!