Life Insurance and Diabetes

For the millions of individuals who suffer from diabetes, one question oftentimes asked is can they get the right kind of life insurance coverage?

According to numbers from the Centers for Disease Control and Prevention (CDC), more than 23 million Americans suffer from diabetes and an additional 5.7 million people are not aware they have it.

Numbers show that 57 million Americans are dealing with "pre-diabetes,' which increases the chances of coming down with Type 2 diabetes. According to the American Diabetes Association, 65 percent of individuals with diabetes pass away from a heart attack or stroke. While diabetes can lead to serious health issues, an individual can lessen the difficulties when applying for life insurance.

When you are looking for affordable life insurance and have diabetes, try best as possible to control the problem by undergoing regular doctor visits, taking your medications as prescribed and trying overall to stay healthy.

An insurance company will primarily look at your blood-sugar levels and your hemoglobin A1C count to decide how well you are acclimating to your treatment over time.

Remember that life insurers will decide your premium by looking at your medical conditions and determining which ratings classification you best fit. The higher the rating class, the less the premium will be.

When it comes to ratings classes, they typically will be classified as: Super Preferred; Preferred; Standard and Substandard.

In most cases, the older your age at the start of diabetes, the easier it will be to acquire life insurance.

Individuals dealing with Type 1 diabetes oftentimes will find it hard to get a traditional, medically underwritten life insurance plan. In the best case, Type 1 diabetics could be quoted premiums in a "high substandard' rating class, no matter what their level of control of the disease, but it will be costly.

Individuals battling Type 2 diabetes (make up 90 to 95 percent of all diagnosed cases), can be treated with changes to diet and oral medications, insulin therapy and exercise. Insurers will most often look to see how you respond to treatments.

In the event you are dealing with Type 2 diabetes and can show that it is under control, you could very well fall into a "standard' rating class for life insurance pricing, or even a little better with some insurance companies who prove more aggressive in writing coverage for diabetics.

For many people with Type 2 diabetes, they can be insurable and get 'standard' rates at the time diabetes is under control.

Finally, half a year may be enough of a timeline for a newly diagnosed case of diabetes, or for an individual who has changed treatments, to show they are responding better.