Securing life insurance following an adverse health diagnosis can be overwhelming, but don’t let worry keep you from taking a crucial step in ensuring your loved ones are protected from unnecessary financial burden. With the guidance of an experienced agent, you can find a policy that fits your needs and budget.
How Diabetes Impacts Life Insurance?
Life insurers will assess your health upon application for coverage, and pre-existing conditions such as insulin-dependent diabetes can be considered higher risk. But that doesn’t mean you’re uninsurable. Life insurance companies will take into consideration many factors, including the type of diabetes you’ve been diagnosed with, age of diagnosis, how well you’ve been able to control your condition, and your overall health, including weight, blood pressure, cholesterol levels, and smoking status. The better your overall health, and the longer you’ve managed your condition, the better your odds of coverage.
So, What Kind of Policy Do I Need?
Work with your independent agent to determine which type of policy is right for you. Depending on the severity of your condition and overall health, term life, whole life, and guaranteed issue life are all great options. Those with well controlled diabetes may qualify for a term life insurance policy with lower premiums, while those with more severe conditions may benefit from a whole life policy which offers lifelong coverage with less strict medical underwriting. If you have difficulty finding coverage due to severe diabetes, you might consider guaranteed issue life insurance, which does not require a medical exam, though coverage amounts are lower and premiums are higher as opposed to other options.
Now, How Do I Get Coverage?
The first crucial step in securing coverage with a pre-existing condition like diabetes is to work with an independent agent. Agents with UniTrust Financial Group have access to multiple carriers and can do the shopping for you, finding the best options that fit your specific situation.
Next, be sure to have all your medical information handy, including details about your insulin use, A1C levels, medications, and any treatments or procedures you’ve undergone. Being honest and transparent is vital in securing coverage, and also in preventing your policy from being voided in the future.
Finally, invest in your overall health. Showing insurers that you’re committed to managing your diagnosis through a healthy diet, regular exercise, and routine medical appointments will increase the likelihood of coverage, and also lead to better rates.
If you’re ready to explore life insurance options despite a pre-existing condition, contact a UniTrust agent today, and let them help you find affordable and comprehensive coverage today.
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