Gestational Diabetes is usually a temporary type of diabetes that occurs during 18 percent of pregnancies, however, studies show that people who develop Gestational Diabetes are more at risk to develop Type 2 Diabetes later on in life.
So what does this mean for you when you are trying to get life insurance?
Gestational Diabetes and Type 2 Diabetes Rick Factor
When getting life insurance, the insurance underwriters know that Type 2 Diabetes is not one that they are born with but that manifests over time with their lifestyle choices. Risk factors are taken into consideration when a life insurance underwriter takes on your case. If you have had Gestational Diabetes you are more likely to get Type 2 Diabetes, however, if you go on to live a healthy lifestyle you are far less likely to have Type 2 Diabetes.
However, if you are diagnosed with Gestational Diabetes and go on to live an unhealthy lifestyle you are far more likely to develop Type 2 Diabetes.
Life Insurance Factors
Please note that there are many factors that go into diabetes and some can be hereditary and not related to living an unhealthy lifestyle.
Another factor to consider when getting life insurance after being diagnosed with Gestational Diabetes is your family history. Many insurance underwriters consider your family history as a guideline for you. If you have a family history of diabetes in your family tree you are more likely to pay a higher rate.
Insurance underwriters look at many other factors if you are suspect to a family bloodline of diabetes or have been previously diagnosed with Gestational Diabetes. Now that you are on their radar for health problems they want to look at your overall health at the current moment.
Questions Underwriters May Ask
- What is your blood pressure like? Is it high? Low?
- Is your cholesterol good or bad?
- They want to know your height and weight and if they are healthy levels or not.
- Another question you might be asked is if you smoke or drink as this can affect your health as well.
- The last thing they may want to ask you is if you have a dangerous occupation or any dangerous hobbies.
- Do you do anything that may cause you to accidentally harm yourself?
- They might even ask you about your travel history. We have seen people be denied in the past for traveling to certain countries frequently.
Now that all the questions are answered and the insurance underwriter knows your medical history, you should be aware that having a past record of Gestational Diabetes, family history of Diabetes, and any bad health can affect your quotes on life insurance. Your rates may go up because of any number of things that you may have answered.
What are the Costs of Life Insurance with Gestational Diabetes?
Now you are probably wondering, “Am I going to have to pay an arm and a leg to get life insurance?” Or, “can I even get life insurance?”
The answer is, no you do not have to pay an arm and a leg if you just make a few changes to your life.
Many life insurance policies are very affordable and are great. Anyone can receive life insurance but it is just how much you are willing to pay and if you are willing to make a few lifestyle changes to get the best possible savings.
Tips for Lower Rates
One metric that underwriters will look at is your height to weight ration and your BMI. Before applying, you may want to try and diet and exercise to lose weight, if you feel like you are not at what is typically considered a healthy weight. This will show that you are leading a healthy lifestyle and may lower your rates.
If you are pregnant and trying to get life insurance, this is a big one for you. Underwriters will evaluate your pregnancy weight gain and if you are at an average weight gain range and if you are not in that range you may end up paying up to 50% more.
One simple way to be denied life insurance or pay maximum rates is by smoking. If you smoke, then stop right now.
By simply not smoking you could save thousands of dollars a year on your life insurance plan.
Working with Independent Agents
The last way to save is to make sure you are only getting the essentials that you need. Do not get a package that does not suit you. You want only what you need and you need a knowledgeable agent to help you decide what fits your needs and what does not. You need to make sure your agent is knowledgeable on diabetes and life insurance policies so you are getting the best possible rates.
That’s what we do. We specialize in only working with people who live with diabetes.
Calculating Life Insurance Needs
When calculating what life insurance policy you should get, you should look at a few different things.
One item to calculate is your amount of debt. Having enough from your life insurance payout to help payoff your debt is important to your family.
Some calculate the costs of funeral expenses, however, burial insurance is actually a much better way to plan for unexpected funeral costs.
You will also want to add in your annual salary. This is how much you get paid each year because if something were to happen to you, your family is left without your money to help support them. This is critical and needs to be taken into consideration.
Many people make the mistake of getting a low life insurance policy and it leaves behind a mound of debt for the family to pay off which can cause many problems.
Being diagnosed with Gestational Diabetes can be overwhelming, especially with everything else that goes into being pregnant. After your pregnancy is over and you are thinking about life insurance, then the tips above can be very helpful.
If you have any other questions, please call or email us right away.