How Much Will Diabetes Impact My Life Insurance Rates?

Written by Growth 360, LLC

Life insurance is one of the most important investments that you’ll ever make for your loved ones. It’s one of the only ways that you can know that all of your family will have the money that they need, even if something tragic were to happen to you.  When you’re applying for life insurance, the company is going to look at dozens of different factors to decide how much they are going to charge you for life insurance.

One of the biggest factors that the company is going to evaluate during the application process is your health. They are going to determine how much of a risk you are to accept for coverage. The higher risk that you are, the more they are going to charge you in monthly premiums.

life insurance with diabetesIf you’ve been diagnosed with diabetes, either type 1 or type 2, you probably know that your condition is going to make finding an affordable life insurance policy with diabetes difficult, but not impossible. Even with a pre-existing condition like diabetes, there are several options for quality and cheap life insurance that you can get for your loved ones.

Diabetes and the Medical Exam

Before the insurance company accepts you for life insurance, they are going to require that you take a medical exam to see what your overall health is. During the exam, they are going to test your blood pressure, heart rate, take your weight, and also take a blood and urine sample. Those samples are going to show them any health problems that you may have excluded from the questionnaire.

With diabetes, you’ll be considered a “high-risk” applicant, which means that you’re going to pay much higher premiums for your coverage. As a high-risk applicant, you can expect to pay around 50% more for your life insurance, but there are several ways that you can secure better rates from the company and keep more money in your pockets.

Getting Cheaper Life Insurance with Diabetes

The first thing that you should do when you’re looking for cheap life insurance is focus on your health, and there are several different ways that you can do that. Not only will you be improving your overall health, but you’ll also be trimming down your monthly premiums.

If you want to get better results from the medical exam (which means lower premiums), you’ll need to start a healthy diet. Cutting out the junk food is a great way to lose any additional weight, lower your cholesterol, and help keep your glucose levels in a healthy range. Both of these will drastically improve your chances of getting much better rates from the insurance company.

The next thing that you should do to get better results from the exam is to start hitting the gym. Getting the recommended amount of physical activity is another excellent way to improve your health by helping you shed pounds, manage your blood sugar levels, and help lower your blood pressure. Exercise will also drastically reduce your chances of being diagnosed with other health complications.

Additionally, if you use any tobacco, like cigarettes, they can make your life insurance premiums go through the roof. In fact, if you’re listed as a smoker on your life insurance application, you can expect to pay twice as much for your plan versus what a non-smoker is going to pay for the same amount of coverage. If you’ve been diagnosed with diabetes and you’re a smoker, there is a chance that you’ll be considered too much of a risk and they will reject your application. If you want to get the most affordable life insurance to fit your needs, you’ll need to kick the bad habit once and for all.

The best way to ensure that you’re getting the lowest premiums is to compare dozens of quotes before deciding which one is going to work best for you. Every insurance company is different, which means that all of them are going to view applicants with diabetes differently based on their medical underwriting. Finding the perfect insurance company keep be the difference in getting an affordable plan or getting declined for coverage.

There are thousands and thousands of different companies on the market, which means that you could spend weeks looking for the best company for your insurance protection. Instead of wasting your time calling the agents yourself, let one of our independent brokers do all of that time-consuming work for you. Unlike traditional agents, we work with dozens of highly rated companies across the nation. Working with one of our agents will allow you to compare dozens of plans at once.

Our agents have years of experience working with applicants that have diabetes, both type 1 and type 2. We know which companies specialize in working with diabetes and their clients. These companies are going to offer you the best rates available, and we can help present your application in the best possible light. Additionally, we can ensure that everything is handled correctly.

Life Insurance and Affordable Insurance Coverage

Life insurance is one of the best purchases that you’ll ever make for the future of your loved ones. If something tragic were to happen to you, and you didn’t have life insurance, your loved ones could be responsible for a massive amount of debt and other final expenses. Don’t wait any longer to get the insurance protection that your loved ones deserve.

There are thousands and thousands of people with diabetes across the country that assume that they can’t be approved for affordable life insurance, but that couldn’t be further from the truth. If you have any questions about life insurance with diabetes or getting the lowest premiums available, please contact one of our agents today.

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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