Last Updated on March 30, 2017 by Matt Schmidt
When purchasing life insurance, the underlying insurance company will want to know the details about the individual who is applying for the coverage. This is because the insurer needs to have a good understanding of the exact amount of risk that it is taking on. Therefore, the underwriters will typically review the applicant’s health information – which will often include information such as the medications that the person is taking for various medical conditions.
Certain types of medication could have an effect on a person’s qualification for the best life insurance coverage for them. One such prescription medication is Glynase – a medication that is used by those who suffer from type 2 diabetes, as well as those who have diabetes during pregnancy.
How Taking Glynase Can Have An Effect On Your Life Insurance Application
Glynase – also sold under the generic names of Glyburide and Micronized – is used for the control of high blood sugar for those who have type 2 diabetes. This medication may also be used with other types of medication that is used in the treatment of diabetic conditions.
The controlling of high blood sugar can be helpful in the prevention of kidney damage, as well as other iIlments such as nerve issues, the loss of limbs, and / or sexual function problems – issues that can be present in those who have been diagnosed with type 2 diabetes. In controlling diabetes, an individual can also help to lessen his or her risk of a heart attack and / or a stroke.
Glynase is considered to fall within the family of drugs that are known as sulfonylureas. These types of medications lower the blood sugar by causing the release of the body’s natural insulin. When an applicant who takes Glynase applies for life insurance coverage, the underwriters will want to know more in-depth information regarding the person’s overall health condition, as well as more details about their dosage of the medication itself.
What the Life Insurance Underwriters Will Want to Know About You
When taking Glynase, the underwriters at the life insurance company will need to know more than just the information that is contained on the application for coverage. Therefore, the applicant will typically be asked more detailed questions regarding the medication, as well as about the dosage that he or she has been prescribed for their diabetic condition. With that in mind, an applicant may be asked some or all of the following questions:
- When were you initially prescribed with Glynase?
- What was the initial amount of the Glynase dosage that you were prescribed?
- Has the amount of your Glynase dosage changed over time?
- How, and how well, is the Glynase medication controlling your diabetic condition?
- Have you suffered from any side effects from the Glynase medication?
- If so, what types of side effects have you experienced?
- Are you managing your type 2 diabetes in any other manner, such as through diet and / or exercise?
- Have you been hospitalized over the past 12 months due to your diabetic condition?
- Have you had any relevant testing done due to your diabetic condition within the past six months?
- What are your current A1C levels?
It is likely that in addition to the application for coverage and the additional questions you will also be required to undergo a medical examination as a part of the underwriting procedure. During this exam, you will be required to submit a blood and a urine sample – which will be tested for various health risks by the insurance company.
The life insurance underwriters will also likely want to review a copy of your medical records from your primary care physician and / or from any specialist that you may see for your type 2 diabetes.
After the insurance company has received and reviewed all of your information, it will be able to make a more thorough determination regarding your diabetic life insurance coverage, as well as regarding your policy’s premium rate.
How Much Will Your Life Insurance Cost?
The cost of your life insurance when taking Glynase will depend upon your overall health, as well as your age and gender. It will also depend on the type and the amount of coverage that you are purchasing.
If it is determined that, other than your diabetes, you are in good health, then it may be possible to obtain a Standard policy classification, in which case the premium that is charged will be in line with an average policyholder. If, however, it is determined that your health is considered to be below average, and then your premium rate will likely be higher than average due to being placed into a Substandard category.
For those who are not able to qualify for a medically underwritten life insurance policy, a possible solution may be to purchase a no medical exam policy. With this type of coverage, there is no medical exam required for underwriting purposes. Therefore, it is likely that those who have various types of health conditions have a better chance of qualifying.
Where To Get Quotes On Life Insurance For People Taking Glynase
For diabetics seeking life insurance who are taking Glynase or other medications, it is typically best to work with an agency or company that has access to more than just one life insurance carrier. In doing so, we can help. We work with many of the top life insurers in the marketplace, and we can point you in the right direction concerning the carriers that work with those who have type 2 diabetes. This can save you a great deal of time during the insurance application process. If you are ready to proceed, just fill out the form on this page and receive your first set of quotes.
If you have any additional questions, please feel free to contact us directly. We can be reached by calling 800-470-4122 toll-free. Our experts will be happy to answer any questions or concerns that you may have. So, contact us today – we’re here to help.