Life Insurance For People With Diabetes

​Obtaining life insurance coverage is often more difficult for people with medical concerns. But, numerous illnesses, including diabetes, do not automatically disqualify a person from insurance coverage. 

How does diabetes affect life insurance rates?
Your life insurance rates will be affected if you have diabetes. Insurance companies will charge extra for coverage because diabetes is a serious condition that can result in death.

Why do insurers consider diabetes a high-risk condition?
There are a few reasons why insurance companies may consider diabetes a high-risk condition. 

1. People with diabetes are more likely to have other health problems, such as high blood pressure or heart disease.
2. Due to the possibility of eyesight and balance issues brought on by diabetes, they are also more likely to experience accidents or injuries. 
3. People with diabetes often need expensive medical care and treatment. Insurance companies may have to pay extra to cover people with diabetes due to all these problems.

These factors make it expensive for insurers to provide coverage for people with diabetes.

What types of life insurance policies are available to people with diabetes?
People with diabetes can obtain most types of life insurance, such as the following:

Term life insurance
Commonly referred to as pure life insurance, it is a type of death benefit paying the policyholder's heirs over a predetermined period. The policyholder has three options after the term has ended:

• Renewing the policy for another term
• Changing the coverage to permanent coverage
• Letting the term insurance policy lapse

Permanent life insurance.
This insurance is made to give coverage regardless of the time of your death. The majority of this type of coverage combines a death benefit with a savings component. The insurance provides coverage for the insured's entire lifetime and has a guaranteed rate of savings growth.

Final expense life insurance. 
This coverage is meant to assist your family in covering your final medical bills, funeral charges, and other end-of-life costs after you have passed away.

Simplified issue insurance.
This policy is usually designed for customers who need life insurance immediately or don't want to undergo a medical examination.

Guaranteed issue life insurance. 
This policy does not need you to answer health-related questions, undergo a medical examination, or permit an insurance company to access your medical and prescription records.

Conclusion
Yes, people with diabetes can qualify for life insurance. The answer is to be honest with your health history and the type of policy you're looking for. Don't let diabetes stop you from getting your needed coverage.

At Medicare Supplement Store, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (732) 252-8828 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!