Diabetes & Life Insurance - How to Get Better Insurance Rates
For someone with diabetes, life insurance
can be difficult to get -- or insurance rates could increase to the point where
many people would consider it unaffordable. However, diabetics need
and testing supplies
which can be expensive. Insurance can help to cover all or part of these costs. If you don't have insurance
through your employer, try the following tips.
- Keep your diabetes strictly controlled. Many doctors recommend getting
an A1C test regularly (often at 3-month intervals) - a consistently good
A1C will work in your favor. Good management of blood glucose
levels, a healthy diet, and regular exercise can help to make you look like
a more acceptable "risk" in the eyes of an insurance company.
- Find an insurance company that looks at your overall health, and not just
a "laundry list" of what diseases or conditions you have.
- Look for an insurance agent or broker that specializes in assisting people
with chronic diseases such as diabetes.
- Shop around. Even when you find an insurance company willing to provide you
with a policy, don't stop -- try to find at least a couple more insurance quotes
to ensure you get the best possible rate.
- Consider group health insurance. Group insurance covers a specific group
of people (for example, people who work for one employer, or people who are
part of a professional organization). Insurance rates are based on the group
as a whole, rather than you as an individual. As a result, group health insurance
rates are often higher since it may be assumed that the members of the group may
be a worse-than-average health risk with more expenses to cover.
- Don't give up! Chances are, you'll run into a situation where you are
declined for insurance. Keep looking! There are many insurance companies
out there that you can contact.
It's important that you are able to show a history of good diabetes
management. If you are unable to establish at least several months of
good control (ideally, a minimum of the previous 6 months, but longer is
better), consider waiting to apply for insurance until you can show this
history of good management. If you get a hemoglobin A1C test every 3 months
and the results are within normal range, that can help to demonstrate to the
insurance company that your diabetes is well-managed.
Being able to demonstrate that you follow and have responded well to your
plan will help you to secure better insurance rates. How you treat the disease
is probably not as important as how well you respond to your treatment
for diabetes. Life insurance is available for people with diabetes - but you will
need to be persistent, do your research, and manage the disease properly in order
find an insurance provider and get the best possible rates.
The information on this website is based on our own research and personal experience,
and is not a substitute for medical advice. Questions about your health and individual
situation should be directed to your doctor.