Even though obtaining life insurance for a person of normal and average health is a pretty straightforward process, all that can change when someone with diabetes tries to apply for life insurance. It should come as a surprise to absolutely no one, that when applying for life insurance with Diabetes, there will be more tests to undergo and the overall cost will come out as much higher when compared to the rates given to people who don’t have a chronic disease such as Diabetes. Still, there are many ways to get around this problem, and life insurance for type 2 diabetics in particular can sometimes even be affordable.
Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s the best safety net that you can buy and will give your family the protection that they need, regardless of what happens to you.
There are dozens of different factors that the life insurance company is going to consider when you apply for coverage. If you’re a type 2 diabetic, it could be difficult to find the perfect plan to meet your needs.
We know that finding the perfect life insurance plan can be a complicated process, especially if you’ve been diagnosed with type 2 diabetes, but our agents are here to make the process quick and simple. We have years of experience helping diabetics find the best plan to meet their needs.
Understanding Life Insurance For Type 2 Diabetics
For those that are uninformed about diabetes, there are multiple types, but two that make up the majority of diagnosis, Type 1 Diabetes and Type 2 Diabetes. With Type 1 Diabetes, your body is no longer capable of producing insulin.
This obviously can cause many problems for your body and the way it handles and processes your food. With Type 2 Diabetes, your body is still capable of producing insulin, although usually not enough and not in accordance for the foods you have eaten recently.
As you can see, both diseases can have their challenges and require a lot of work, but insurance companies look at Type 1 Diabetes as a much higher risk.
As a result, life insurance for type 2 diabetics is also a bit easier of an affair. While you will still be expected to go through all the same steps on your path to becoming approved for, and obtaining life insurance, your overall health will likely be seen as much better than that of a person with Type 1 Diabetes.
Still, if you are going in for a physical, you would be wise to strictly follow your doctor’s orders for over a week leading up to the physical (the goal would be to follow these orders everyday).
Even if you feel like you already do a good job at following your diet, you want to be extra strict with what you are eating during this time, as it can have an effect on the outcome of your physical and ultimately, the price you will pay for life insurance.
One important thing to keep in mind, is that not all life insurance companies assess risk in the same way as the others.
This means that just because you were given an ultra-high rate from one provider, doesn’t mean you should just give up. Keep looking because the next provider might offer you something which is actually affordable.
Some providers even specialize in certain conditions, meaning that if they have a good understanding of your condition, then you can likely snag up a good rate through them. It’s all about shopping around for the right provider.
Getting Affordable Life Insurance For Type 2 Diabetics
One of the most common reasons that people don’t purchase life insurance is because they assume that it’s going to be too expensive to fit in their budget. In most cases, this couldn’t be further from the truth. There are plenty of ways that you can get an affordable life insurance policy.
The first thing that you should do is improve your health. Before the insurance company approves your application, they are going to require that you take a medical exam to see how your overall health is. The better your health is, the lower insurance rates that you’ll get.
Starting a healthy diet and getting regular exercise is a great way to shed some of those extra pounds, lower your cholesterol, lower your blood pressure, and much more. All of these benefits are going to translate into a better rating class and cheaper life insurance premiums. You don’t have to be a marathon runner to get affordable rates for your life insurance plan.
Stop Smoking NOW
The next thing that you should do is eliminate any tobacco that you currently use. If you’re listed as a smoker on your life insurance application, your premiums are going to go through the roof. In fact, smokers are going to pay twice as much for life insurance versus what a non-smoker is going to pay. If you want to save money, you should eliminate any tobacco that you use. It’s time to kick the bad habit once and for all.
Work With Independent Insurance Agents
The best way to get the lowest insurance rates is to work with one of our independent insurance agents. Unlike a traditional insurance agent, our independent agents work with dozens of highly rated companies across the nation. We can help you find the best plan to meet your needs and provide you with the information that you need.
If you feel like shopping around to all the different life insurance companies is a task that will take weeks of your time – you’re right, it probably will. This is why we work directly with people with Diabetes to help them shop the best insurance companies that work best with diabetics and make the process a whole lot easier.
In this industry, the word “agent” isn’t a bad word – they can usually help you get a cheaper rate than you would be able to secure on your own. The best part is, they can take down your information and shop it around to the companies they know will be offering decent rates for your individual situation.
This is a process that can take you weeks to do on your own, but they can come back to you with the quotes already prepared, and all you have to do is look through them all and use their guidance to make a decision. We work with diabetics and have a proven process for getting the best life insurance for diabetics.
No Medical Exam Life Insurance Policies
One option for getting life insurance coverage is to purchase a no medical exam policy for diabetics. As you can imagine from the name, these plans give your life insurance coverage without being required to take the medical exam first.
These plans are a great option for a lot of diabetics that don’t have their condition managed well. As a type 2 diabetic, your glucose levels and treatments are going to play a huge role in how much you have to pay for your policy.
With a no medical exam, these factors won’t be added into the equation.
While these plans are a great way for anyone to get life insurance protection, they are going to be more expensive than a policy that requires a medical exam. You can’t put a price tag on the peace of mind a life insurance plan will get you, but these no exam policies should only be used as a last resort for coverage.
It Doesn’t Have to be Complicated
So even though the process of applying for life insurance is one of those things that make Diabetics really wish they didn’t have Diabetes, it doesn’t have to be so bad. Just remember to follow your diet strictly when you have a physical coming up and to shop around to the different providers to find the best rates.
Your family and their future are too important to continuing going through life uninsured – explore your options today.
If you have any questions about getting life insurance as a type 2 diabetic, please contact one of our agents today. We would be happy to answer those questions and ensure that you’ve got the best plan to meet your needs.
Our agents have years of experience working with diabetic applicants and we know which companies and plans are going to get your family the best protection at an affordable rate.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance, your family could be left with a massive hole of debt and no money to cover those expenses.
Being left with thousands of dollars debt is going to make an already difficult situation a thousand times worse.