It’s no secret that anyone with a chronic health condition will inevitably – more than likely – end up paying a higher premium for their life insurance policy than someone who is in predominantly perfect health.

Most people don’t know that despite a chronic health diagnosis, it is possible to avoid excessively high premiums while maintaining a policy that is suitable for your family.

If you’ve been diagnosed with diabetes – even if you’re receiving insulin therapy by way of an insulin pump, you can be found eligible for an affordable diabetic life insurance policy capable of providing your family the financial security they need should you pass unexpectedly.

When considering the purchase of life insurance, consider these factors:

Your Recent A1C Levels:

A1C levels under 7 are considered low risk and thus low liability. A1C levels above 10 are ultimately considered high risk and indicate that your condition has not been sufficiently managed. When applying for a life insurance policy, your insurance company will almost always require you to get routine bloodwork completed.

There are ways to not need a medical exam. These plans are called non-medical exam life insurance plans. With a diagnosis like diabetes, they’ll also want to assess additional indicators of your current health status, like your A1C. If your condition has been well managed, the results of your bloodwork will reflect it. This will be taken into consideration when the insurance company assesses your application for eligibility and works towards determining your premium.

Method of Insulin Delivery:

Many diabetics receive insulin therapy in some form. For those that use oral drugs, such as Metformin, and are able to successfully control their condition by this route of insulin delivery, are usually in pretty good shape when it comes to determining eligibility and premium quotes.

For diabetics who take insulin therapy by route of injection or insulin pump, premiums are typically higher. Fortunately, there are other factors that will be considered when settling on your proposed monthly premium. For example, the usage of a continuous glucose monitoring system could be helpful during the underwriting process.

Age of Onset:

In most cases, younger applicants have the immediate upper hand – however, when it comes to age of onset, having been diagnosed at a more mature age bodes better for premium rates. Diabetes can take a real toll on the vascular, nervous, and endocrine systems and has the potential to cause quite a few undesirable complications and health risks.

The longer you’ve had, or will have, diabetes, the more liability you are presumed to present. So, if you’re 50 and have just recently been diagnosed with diabetes, don’t assume that you’re chances are slim for obtaining a quality policy at an affordable premium. It’s also important to note that it’s possible to obtain a diabetic life insurance policy for a child with diabetes.

Overall Health Status:

Do you exercise regularly? Do you eat well and generally take good care of yourself? Are you a non-smoker? If you’ve answered yes to these questions, you’ve got a lot of good in your corner. Receiving a chronic diagnosis like diabetes doesn’t equate to an immediate disqualification for eligibility to purchase life insurance and it doesn’t mean that you’re doomed to face the ultimatum that is pay an astronomical premium rate or forfeit coverage.

As a diabetic receiving insulin therapy, especially by way of insulin pump, pursuing an application for life insurance can be scary and discouraging due to pre-conceived perceptions about the impact that your diagnosis will have on your eligibility. Fortunately, those fears are somewhat misguided. There is a suitable life insurance policy for everyone. By managing the factors that are in your control, you will ultimately reserve a lower premium for yourself – making the peace of mind that life insurance provides even more attainable.