What Should I Do If I’ve Been Declined For Life Insurance Because Of My Diabetes?

Written by Growth 360, LLC

Life insurance is the best investment that you can make for the future security of your family. It’s the best way to ensure that they have the money that they need, regardless of what happens to you. There are thousands and thousands of people every year that are declined for life insurance for a variety of different reasons. If your insurance application has been rejected in the past, you may assume that you can’t get life insurance protection for your family. Regardless of your health or pre-existing conditions, there are several options for life insurance coverage that you can choose from. Everyone deserves to have quality and affordable life insurance protection for their family.

If you’ve been declined for life insurance in the past, we know that it can be a stressful time of your life, and you may not know where to turn next, but that’s why we are here. We can help connect you with the perfect life insurance plan to meet your needs.

No Medical Exam Life Insurance

life insurance with diabetesOne option for life insurance coverage is to purchase a no medical exam life insurance plan. As you can guess from the name, these policies will allow you to get life insurance protection without being required to take the medical exam before they approve your application. There are several advantages to these plans that you should take note of when you’re looking to get insurance coverage.

The biggest advantage to these plans is that anyone can buy one of them, regardless of health or any pre-existing conditions. It’s important that you get the life insurance protection that your family deserves, and these plans are an excellent way to do that.

The next advantage is that you can be approved for life insurance coverage much faster than you can with a normal insurance plan. With a traditional life insurance plan, you’ll have to wait several weeks to get approved for life insurance coverage, but with a no medical exam, you will be able to get life insurance coverage much faster. In fact, you’ll be able to get approved for life insurance in a few days. Some companies can approve you for life insurance in a few hours.

Several disadvantages can make these plans a poor decision for some people. The most notable disadvantage is that these plans are going to be more expensive than a traditional life insurance policy. Without the medical exam, the insurance company is taking a great risk to give you insurance coverage, and they are going to offset that pay charging you higher monthly premiums. If you’re looking for the most affordable life insurance policy, you’ll need to apply for a traditional plan.

Another significant disadvantage to these no medical exam policies is the amount of coverage that you can buy. Most insurance companies are only going to allow you to buy around $250,000 worth of life insurance. For most families, this isn’t going to be enough protection. Not having enough life insurance is one of the worst mistakes that you can make for your loved ones.

High-Risk Companies

If no medical exams are right for you, there are still several options for affordable coverage. When you’re looking to get life insurance coverage, it’s important that you find the best company for you. Every insurance company is different, and all of them are going to have different medical underwriting, which means that you could get drastically different rates depending on which company that you receive the quote from.  If you’re an applicant with diabetes, finding the right company could be the difference between getting an affordable policy or being declined for life insurance.

The best way to find the perfect company for you is to work with an independent insurance broker. Unlike a traditional agent, independent brokers work with dozens of highly rated companies across the nation. Working with one of our agents will save you both time and money on your life insurance process. We have years of experiencing helping applicants with diabetes get the most affordable plan to meet their needs.

Improve your Chances of Life Insurance

Another way that you can get life insurance is to decrease your risk to the life insurance company. There are several ways that you can increase your chances of getting affordable life insurance protection. Making a few changes could help you get an insurance plan and save you hundreds of dollars on your life insurance coverage.

The first things that you should do are start a healthy diet and get regular exercise. Both of these are great ways to lose weight, lower your cholesterol, lower your blood pressure, and reduce your risk of being diagnosed with other health complications. Improving your overall health is a great way to increase your chances of getting improved for life insurance.

The next thing that you should do is increase your chances is to eliminate any tobacco that you currently use. If you’re listed as a smoker on your life insurance plan, you’re going to be facing much higher premiums. In fact, non-smokers are going to pay twice as much for life insurance versus what a non-smoker is going to pay.

Life Insurance with Diabetes

Life insurance is the most critical safety net that you would ever purchase for your loved ones. If you’ve been declined for coverage in the past, we can help you get the life insurance protection that your family needs. Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the insurance protection that your loved ones deserve. It’s our mission to ensure that you’re getting the best life insurance plan at an affordable price.

If you have any questions about life insurance with diabetes, please contact one of our agents. We would love to answer any questions that you have about life insurance. We know that it can be a frustrating process, but we are here to help.

About Growth 360, LLC
About Growth 360, LLC

We work with individuals across the nation to secure the best life insurance rates.

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