Updated: Jul 12
Do I Qualify For This Type Of Coverage?
If you have experienced diabetes and looked for coverage, chances are, you've exhausted all of your efforts trying to find a Life Insurance Policy that is affordable or one that DOES NOT come with a waiting period. Is it true that diabetics really can get Day-1 Life Insurance Coverage? It's no secret, Day-1 Coverage for qualified diabetics really does exist, but may not be so easy to find, nevertheless, we at Policy Insurers are Insurance Brokers that have exclusive access to the carriers who can give you the coverage you are looking for. Get your application in fast and easy with our FREE online quoting technology, and allow us to help you discover the possibilities and get your family the protection they so deserve! Now, how do you know if you qualify? Let's take a closer look...
What Type Of Diabetes Qualifies For A Day-1 Life Insurance Policy?
Fully Underwritten Insurance Policies
Men and Women both with all types of diabetes are able to obtain Day-1 Coverage options from select Insurance companies, depending on a variety of health factors. What type of health factors determines the eligibility for a diabetic getting a Day-1 Life Insurance coverage? Here at American Policy Insurers, we can assist in finding Day-1 Coverage options, sometimes even at preferred rates for clients with all types of diabetes, including Type 1 and Type 2 Diabetes, including diabetics that are currently Insulin-dependent. With that being said, any additional health conditions will be the determining factor on your coverage eligibility, and not the diabetes diagnosis itself. Make sense? Each insurance carrier has different health criteria that they deem "eligible" for this type of Life Insurance coverage, based on their underwriting guidelines.
To note, if you are currently experiencing more elevated health concerns that have arisen from your diabetes diagnosis such as Neuropathy, Nephropathy, Retinopathy, Peripheral Vascular Disease, or have ever received an amputation due to diabetes, then you will require a knowledgeable broker on your side to really do their leg work and thoroughly navigate you through the underwriting of each Insurance coverage type for each insurance company you which you wish to apply for.
Day one options are still available sometimes even with the above-mentioned symptoms but will require searching for and applying for "THE RIGHT" Insurance Policy Type with "THE RIGHT" Insurance Company. Using inexperienced agents, or even big-name companies that offer limited Insurance options for diabetics should not leave you feeling hopeless, as there is hope yet! American Policy Insurers offer 5+ carriers in each state that offer Day-1 options for qualified diabetics, and gladly take those additional steps to ensure our diabetic clients get the best rate and type of coverage possible.
What Kind Of Life Insurance Policies Can Diabetics Get?
Insurance Policy Types For Diabetics
No need to sweat it, life happens and you should be prepared and well informed of all your insurance options, no matter what your current age or health status may be. Why can't diabetics find these types of Day-1 coverage policies easily over the internet? These policies are not easy to find on the internet, or even by calling around locally, as not every Insurance company offers these solutions, or may not accept diabetes as a health condition without adding a waiting period in the fine print.
Our suggestion is to beware of the Insurance websites that allow you to "sign up for a Life Insurance Policy while waiting in an airport line". These types of life insurance policies almost always come with an extensive waiting period before the death benefit would be paid to your family, also known as "Graded" Insurance coverage.
Example: You pay for your first month's premium and you pass away the next day... You're not covered. Instead, your family will receive your month's premium in return for your passing away, and not the amount your family needed in a time of need.
That's why it's important for most families to try and apply for an underwritten plan with a broker over the phone, and get Day-1 Coverage to protect themselves and their families with, as it's designed to pay the full benefit amount to the ones that matter most when it's needed most. As mentioned, diabetics can qualify for different types of Life Insurance Policies, sometimes even with complications, so what types are we talking about? Case-by-case basis, one could qualify for Day-1 Whole Life, Universal Life, Term Life, and even Supplemental Life Insurance Policy types.
What Health Factors Do Fully Underwritten Plans Ask About With Day-1 Coverage?
Medical Conditions Evaluated For Diabetes
Age First Issued Diabetes Medication: Most companies will inquire further as to what age you started your diabetes treatment, and will fact-check this, based on your electronic, medical history. From what we've seen Insulin use before age 25-35 will want to talk with a broker to ensure the companies requirements for which they are applying.
Diabetes Complications: Mentioned above, these conditions would include Neuropathy related to nerve damage, Nephropathy which causes damage to the kidneys, Retinopathy identified with eye tissue, Peripheral Vascular Disease from Type 2 Diabetes, or last had an amputation due to diabetes.
Blood Sugar Levels: Your levels are known to change throughout the day, based on lifestyle and dietary habits, and what Insurance companies are looking for is a consistently controlled Blood Sugar Level between 70 mg and 140 mg, but can vary from company to company based on their screening requirements.
A1C Levels: Although varying for each person's body type Life Insurance underwriting will favor bi-yearly average readings between 5.0 and 7.5%.
Blood Pressure Under Control? Hypertension and Hypotension can be a factor in your coverage eligibility and will be based on how many medications you are taking for this condition, the dosage, frequency, and the biggest factor being whether or not blood pressure is controlled or not, or if other heart complications exist as well.
Cholesterol: LDL vs. HDL screenings are considerations as LDL Cholesterol can lead to coronary and artery complications down the road, which put you in a higher bracket of risk.
Medications For Other Health Conditions: Other considerations diabetics will be screened for include any prescription history for other health conditions like mental or nervous disorders, including Anti-Psychotic, Schizophrenia, Bi-Polar, and Anti-Depressant medications that could affect your ability to get Day-1 coverage as well.
When should I try to apply for Day-Coverage? The best thing you can do is try to apply as soon as possible with a reputable broker, as rates will continue to go up based upon your obtained age and ongoing health conditions as indicated above, as well as other contributing factors like COVID-19, and its variants, in which increasing rates and your ability to get coverage are subject to.
Do Underwritten Life Insurance Plans For Diabetics Require An Exam, Blood, Urine?
Type Of Life Policy Diabetics Should Apply For And How
Deciding whether or not to apply for a fully underwritten plan vs. applying for coverage that requires no medical questions asked can be confusing to some if not explained the right way. As mentioned before if a company allows you to signup for a policy that does not require you to see or talk to a real-life agent over the phone, then you may want to think twice about the type of coverage you have signed up for, as better rates and coverage typically exists with an underwritten Insurance Policy.
Not all companies have the same qualifying process! Most Insurance companies will not require an in-person exam for basic Whole Life, Universal Life, or Final Expense Insurance Policies, but will ask for an exam of the proposed insured with larger requested benefit amounts, and for some Term Life Insurance Policies. Why do insurance companies require exams for these types of policies? The higher the risk that you pose in "life expectancy", the more likely the insurance company does not make their money back, therefore, in-person physicals, exams, blood testing, and urinalysis testing can help these companies mitigate risk and gain accurate assessments of your current health status, which determine your insurability for the policies you're applying for.
As you've learned, there are quite a few factors involved with finding Day-1 coverage with Type 1 or Type 2 Diabetes, but isn't it nice to know that lots of options truly do exist? Now all you need is the right guidance picking out the correct type of Insurance Policy that actually fits your budget and your needs for your family, and with the right Insurance company for crying out loud! Where can you find such help with an underwritten Life Insurance Policy with or without an exam might you ask? Quick and easy, over-the-phone with local American Policy Insurers you can trust. Veteran and Women Minority-Owned. Schedule your FREE 10-minute consultation today.
We at American Policy Insurers hope you gained some valuable feedback about the different types of Day-1 Life Insurance Policies diabetics are able to qualify for within this helpful insurance blog article. If we can be of any service to you or your family during these pressing times to find Day-1 coverage solutions, don't hesitate to reach out to us directly @ (855) 201-2221 EXT 2 to speak with a credible, licensed broker that can help.
If you prefer to get your Quotes On Insurance Policies via text, or email go ahead and proceed to click HERE, or on one of the BIG BLUE BUTTONS throughout the article above and a licensed, American Policy Insurer will ensure you get the help you deserve.