Many people with Diabetes have been told they cannot qualify for life insurance or most pay a much higher premium. All Life Insurance companies are not the same and underwrite diabetes quite differently. To find the best companies and the best premiums a diabetic can qualify for, they should be using a Broker who specializes in Diabetes and other medical conditions.
Each Diabetic is unique and needs to be evaluated individually. The following are some of the likely scenarios for underwriting and the premiums based on what a diabetic’s history and current condition may look like:
Best case Diabetics who may qualify for regular premium or better are:
a. Diagnosed at age 40 up;
b. Treatment is diet only and/or oral medications;
c. No complications from the diabetes has shown up yet;
d. No tobacco/ nicotine use;
e. Excellent control reflected in A1C tests over the past year at 5.7 or less;
f. No other major medical conditions.
May still qualify for regular premiums for some companies or some products:
a. Diagnosed at age 40 up;
b. Treatment is diet only and/or oral medications;
c. Mild complications from the diabetes may have developed;
d. No tobacco/ nicotine use;
e. Good control reflected in A1C tests over the past year from 5.8 to 7.0;
f. Any other medical condition are well controlled.
Likely increased premium up to 2 times the regular premiums:
a. Can be diagnosed as juvenile;
b. Treatment is diet only and/or oral medications or insulin;
c. Mild to very moderate complications from the diabetes may have developed;
d. No tobacco/ nicotine use;
e. Fair control reflected in A1C tests over the past year from 7.0 to 8.0;
f. Any other medical condition are well controlled.
Likely increased premium more than 2 times the regular premiums to being uninsurable:
a. Can be diagnosed as juvenile;
b. Treatment is diet only and/or oral medications or insulin;
c. Moderate complications from the diabetes may have developed. More severe complications could result in no offers of insurance.
d. Use of tobacco/ nicotine will generally about double the premium just for the nicotine use;
e. Fair control reflected in A1C tests over the past year from 7.0 to 9.0;. Over 10 will likely be declined.
f. Any other medical condition like heart disease or kidney disease will very often lead to no being accepted for insurance.
If you are a diabetic and would like to have AISOA look to see how well you would fair in getting life insurance – please email us at UndSolutions@cs.com or call Fred at (760) 435-9702. We will send you a brief questionnaire to help you tell us about your diabetes.
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