| Life Insurance Companies differ in their | | | | comprehensive test, showing the blood sugar |
| "underwriting philosophy" when it comes to | | | | levels over about a 3 month period of time as |
| diabetes. Offering life insurance for | | | | opposed to a quick "snapshot" blood level |
| diabetics can be risky if the underwriters | | | | test).If the client's A1C level is below 8, |
| are not fully trained. Underwriters at the | | | | then fully underwritten life insurance may be |
| insurance companies that are fluent in | | | | available subject to the client's full |
| underwriting diabetes have the ability to | | | | medical file. If the client's A1C level is |
| look at all of these factors and determine if | | | | above 8, then guaranteed issue life insurance |
| the company will accept them as a risk. | | | | is a more realistic goal.One of the things |
| Moderately controlled diabetes cases would | | | | that applicants fear in the case of insulin |
| usually merit a "rating" or an increase in | | | | dependent type 1 diabetics is whether or not |
| the premium, but not necesarily a declination | | | | their insulin pump will prevent them from |
| for coverage. If the client with diabetes | | | | getting a life insurance policy. An insulin |
| that is looking for life insurance is not | | | | pump is actually a positive factor where life |
| controlled, then there are options - it will | | | | insurance underwriting is concerned because |
| just cost them more for coverage!Diabetic | | | | the client's insulin level is kept at a |
| Life Insurance can be obtained no matter how | | | | constant level.How often the client monitors |
| severe the diabetes condition is. If the | | | | their sugar or glucose levels in their blood |
| proposed insured has well controlled diabetes | | | | is another factor. If the client habitually |
| and a history of compliance with what the | | | | monitors their glucose level, then this is |
| Doctor reccomends, then the rate for | | | | seen as evidence of compliance on the part of |
| insurance will naturally reflect that. The | | | | the client. If, on the other hand, the client |
| better the control, the better the rate. | | | | does not monitor these sugar levels, then |
| Clients with well controlled diabetes have a | | | | this could be seen as a negative in the eyes |
| great chance at getting a lower rate from a | | | | of the insurers and underwriters.Have there |
| regular insurance carrier and would qualify | | | | been any low sugar episodes? Have there been |
| for a policy that is fully underwritten. If, | | | | any high sugar episodes? Is the client taking |
| at the other extreme, the client has very | | | | glucovance, glucophage, insulin injection, or |
| poor control over the diabetes, the rate will | | | | other type of medicinal treatment? Is the |
| be higher and the client will have to go with | | | | client controlling the diabetes with "diet |
| a life insurance plan that guarantees | | | | and excercise"? These are all questions that |
| acceptance. This type of life insurance is | | | | will be asked during the underwriting process |
| called "guaranteed issue life | | | | (unless you opt for guaranteed issue).By the |
| insurance".Guaranteed issue life insurance | | | | way...ANYONE can get guaranteed issue; you |
| for diabetics is more expensive than regular | | | | don't have to be "uninsurable". Guaranteed |
| (fully underwritten) life insurance and is | | | | issue is available for clients between the |
| only sold as "whole life insurance". This | | | | ages of 46 and 80 and up to $35,000 in |
| type of insurance can be advantageous, | | | | coverage. Again, this is the more expensive |
| though, because it builds cash value and is | | | | type of life insurance and it is advisable |
| intended to cover the client for their "whole | | | | that if you CAN make it through an |
| life" as opposed to a "term" period of time. | | | | underwriting evaluation, you should try |
| Another provision of guaranteed issue is that | | | | unless you just want to pay more and be done |
| the premiums paid into the policy would be | | | | with it!So what kind of companies will accept |
| paid to the beneficiary PLUS 10% interest if | | | | clients with diabetes? Personally, I broker |
| the insured dies within the first 3 years of | | | | only with "A" rated companies that have the |
| the policy's inception. After that 3 year | | | | right combination of price, customer service, |
| period of time, the guaranteed issue policy | | | | product variety, and recognition in the |
| would pay the full death benefit to the | | | | market. I deal with companies that take |
| beneficiary.Fully Underwritten policies take | | | | clients on a case by case basis as opposed to |
| the client's full medical records into | | | | categorizing them "by the book". I have fully |
| account. The doctor's records are ordered, | | | | researched the market, I am in touch with the |
| blood is drawn, a urine sample is taken, and | | | | underwriters personally, and I assure you |
| a full screening is done to evaluate the | | | | that these companies have the proper |
| client. If the insurance company decides to | | | | credentials to back up their policies. My |
| insure this applicant, it is after the | | | | clients are provided with full company |
| company's underwriters look at the case. If | | | | backgrounds and financial profiles. I deal |
| the client is fully underwritten and passes | | | | with several companies that are in the market |
| through underwriting, then they would have | | | | to insure diabetics. The reason why I am |
| more options than just whole life insurance | | | | witholding exactly what companies I deal with |
| (in the case of those who are in need of | | | | is because I want to earn your business and |
| guaranteed issue whole life insurance). Term | | | | represent you as your life insurance agent. |
| insurance, Universal Life Insurance, | | | | Contact Me for a free consultation!By: Ashley |
| Survivorship Universal Life Insurance, and | | | | Brooks, CLTCAshley is the marketing vice |
| regular Whole Life Insurance would be | | | | president for the Family Life Insurance |
| available to these applicants that are fully | | | | Brokerage Business and has a background in |
| underwritten.When evaluating a client with | | | | Health & Financial Underwriting, Insurance |
| diabetes, the underwriters at the insurance | | | | Plan Design, and "best deal" shopping. |
| company take into account whether the client | | | | Brokerage Services carries only A rated (or |
| is a type one diabetic (type I diabetic, type | | | | better) companies in their product portfolio |
| 1 diabetic, type 1 diabetes, type I diabetes) | | | | and has been serving the needs of Independent |
| or a type two diabetic (type II diabetic, | | | | Insurance Agents since 1977.More Information |
| type 2 diabetic, type 2 diabetes, type II | | | | about Life Insurance For Diabetics and |
| diabetes). Another thing that the | | | | |
| underwriters look at is whether the client is | | | | Diabetic Life Insurance.Get a free Life |
| a juvenile onset diabetic or an adult onset | | | | Insurance Quote at my website, designed |
| diabetic. And yet Another determining factor | | | | exclusively for those searching for a free, |
| is the Hemoglobin A1C level (this is a more | | | | online life insurance quote. |