If you apply to an insurance company that uses clinical underwriting,
all of the factors and your overall health is taken into account. The
underwriters will obtain your medical records from your primary care physician
and any other specialty doctors you may have been seen by. This tends
to benefit those diabetics who are keeping their diabetes in check. If
you are planning to buy life insurance for your parent you will need them
to complete the medical exam and sign off for the APS, which allows the
insurance company to access your medical and doctor records.
Once a person has an A1c count above 6.5%, they are diagnosed with the
disease. If a diabetic is able to keep their A1c count below 7% it is
a very good indicator that they are controlling their diabetes and will
lower their risk of future complications. The insurance companies want
to know how you are controlling your A1C, whether through insulin or diet
and exercise. This is taken into account when preparing your price offer.
People with A1c count higher than 7% will likely pay much more than one
who's level is below for that fact that people above 7% have a high
risk from suffering complications of the disease.
When shopping for life insurance rates for diabetics it is important to
shop around in order to get the best
price for life insurance. The best way of doing so, is by contacting
a life insurance broker who specializes in diabetes life insurance. As
a broker they can write coverage with any company, and when they have
had experience in this in the past they know which companies offer the
most competitive premiums.
I have been working on these types of cases for over 16 years, and more
recently I have been able to find people more affordable options. For
example, Banner Life Insurance Company, they are company that has been
in business well over 60 years and have an AM Best Rating of A+ Superior.
They truly are one of the most competitive companies when
it comes to rating diabetics. I have put them up against many other companies
and almost always they win by a landslide.
Though many agents can offer you Banner Life Insurance policies, not all
agents are equal. Below I will share with you a recent case I was working
on. Even with the same company, I was able to offer a better price than
I had a client who was a male senior
age 64 and he was a diabetic. All other aspects of his health and
lifestyle had him classified as the Super Preferred (or Preferred Plus)
health class, but due to the fact he was diabetic the initial offer came
as Standard. Knowing the guidelines and having a personal relationship
with the medical director of Banner Life I gave them a call and decided
to plead my case. Though the publicized rates for life insurance are fixed
their health class rating guidelines are not. He was over the age of 60
when he was first diagnosed as diabetic and was not taking insulin. He
was able to keep his A1C count under 6.5% with oral medication and diet
and exercise. His height and weight was also within range for the preferred
rate class. After discussing these facts with the underwriter I was able
to get him the preferred rate he deserved. My competing agent fell short,
even though he was also applying for Banner Life in addition to one other
Having dealt with these underwriters on a daily basis, and being an agent
with them for many years, I was able to advocate for my client and get
him the better health class rating; in turn the better price!
Know the facts before you apply for diabetes life insurance and go to
an agent who has the experience in this field. If you are a diabetic and
need assistance in applying for life insurance please contact me! I am
ready to fight for you to get the lowest rates. You work hard to manage
your diabetes and you deserve to be rewarded for that!