Can I Qualify for Life Insurance As a Diabetic

If you have a serious health condition like diabetes, you may be wondering whether you can afford a quality life insurance policy. Fortunately, there are some options for life insurance that will allow you to get a policy that is beneficial for you and your family without having to spend a fortune. Here are a few tips that may help. 

Know Your Category

Before you search for life insurance policies that cover diabetics, you should know which category you fall into. The four main categories are: preferred plus, preferred, standard and substandard. Preferred plus insurance plans are for diabetics who are at their healthiest. This may include you if you don’t have to take high dosages of medication for your diabetes, or if the condition doesn’t often affect your ability to work or handle everyday tasks. If you have proven that you’re able to keep your blood sugar under control, you may also fall into the standard category.Preferred plus life insurance for diabetes usually refers to the fact that you received your diabetes diagnosis late in life. Actually, your late diagnosis could lower your health risks in some ways, which could increase that chances that you’ll be approved for the policy you want. Substandard insurance plans are typically reserved for diabetes sufferers who have endured serious health conditions as a result of the disease, such as vision problems or amputation.

Shop Around

You still have the option of shopping around when you’re looking for a diabetic life insurance policy. Even though you can’t change your diabetes diagnosis, you can do things to improve your health that will lower the insurance premium you’ll have to pay. Many companies allow you to start the signup process free of charge as well. Search for policies that offer the coverage that is best for you and your loved ones at a price that is realistically within your budget.

You can also look at life insurance without a health exam options.

It doesn’t hurt to ask your friends and family for recommendations when you’re looking for a life insurance policy that is especially for diabetics. Loved ones who also suffer from the condition can likely point you in the right direction when you need a policy that is affordable and will give you peace of mind.

About Michele

Michele Andrea Bowen has been a financial consultant for just shy of 22 years. Her client base ranges from individuals, to families, to small and medium sized businesses. Her expertise extends from daily money management, to insurance, to planning for retirement, as well as managing finances in retirement.

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