We contract with the Top Life Insurance Companies available in the United States. These companies are considered top carriers because they take on certain niches, in this case diabetics. Knowing which carrier to apply for in your specific situation is key.
We specialize in non-med(no medical exams) and fully underwritten plans(medical exams). We can provide the counsel needed to determine which company and underwriting style is best for you.
Getting Life Insurance with diabetes
Diabetes is a disease that affects 29 million people in the United States. The disease can be extremely dangerous since it is largely symptom-free until something major happens such as a stroke.
There have been significant improvements in the awareness of the disease and how to treat it long term. This awareness has caused certain Life Insurance carriers to relax their underwriting standards.
If you have diabetes there are some questions that you should know.
Four important questions you need to ask:
Can I get life insurance with type II diabetes?
Yes, you can get life insurance with type II diabetes.
Getting life insurance coverage will depend on the severity of the disease, how long you have had it and how controlled it is.
Some things you will need to know:
What rate class can I qualify at for diabetic life insurance?
Life Insurance companies generally have about 12 different rate classes. Depending upon the carrier and product this can increase to about 16. Your rate class is a direct reflection of the price that you pay. Here is a brief summary of the the rate classes that you can qualify for if you have diabetic life insurance:
If you are younger you may receive a rate class that's worse than if you are older. Hypothetical example: If you were 36 and you had a blood sugar level of 129 and an A1c of 6.4 the best rate class this person would receive would be a table b or table 2. If the same information would be applied to a client over the age of 50 they would qualify for a standard or standard plus. These examples are dependent on other factors such as cholesterol, blood pressure and height weight etc.
Continuing with our example if the same information were applied to a 60 year old then they would qualify for a preferred plus rate class with one particular carrier. The older you are the better rate class you would receive.
The process of applying for diabetic life insurance
What is the process of applying for diabetic life insurance?
When you have have type II diabetes you should really consider a non medical exam life insurance policy. Those policy answer questions about your health, lifestyle and immediate family. You are not subject to a paramedical exam so they won't take a blood sample. If you think that you may have diabetes but you haven't been diagnosed, a non- medical exam life insurance policy could save you hundreds if not thousands of dollars over the life of the policy.
A fully underwritten policy (with a medical exam) a medical examiner comes to your home or office to check your build and take a small blood and urine sample. Your labs are processed by an independent lab. The carrier will request an attending physician statement( medical records). The life insurance company will also complete a prescription drug database check to see what medications you are currently taking and have taken in the past. An underwriter will then analyze your risk and give you a rate class assigned to your specific situation.
Your Edward Financial Group agent will follow up at least once a week to keep you informed of the approval process. We take care of all the follow up so you can relax and wait on final approval.
The best life Insurance carriers because of diabetes?
In business competition forces life insurance companies to reconsider their underwriting practices on various diseases and medications. Diabetes is no exception.
It's imperative to apply for coverage with the right company in order to get life insurance coverage when you have been diagnosed with type II diabetes. If you apply with a company whose underwriting is more strict you are less likely to receive the lowest cost life Insurance for Diabetes.
The best firm to help you find the right carrier for your condition is an independent agency like Edward Financial Group. Working with an independent insurance firm means they are not obligated to one insurance company. By checking with different carriers this exposes your case to more competition thus giving you a lower cost of coverage. In addition, we have submitted applications for consumers just like you. This experience will increase your chances at getting the best rates.
Have you already been declined?
If you have already been declined due to type 2 diabetes it is possible you had your case placed with a company that doesn't have lenient underwriting for diabetes. Although it is always better not to have a decline from any carrier we have been very successful at applying and getting these cases approved.
Please contact us if you have been declined or approved at a very high premium. At times our firm is unable to help you at the moment, even in those cases, we can put you on the path to get the rates you deserve in the future.
If you know that you have uncontrollable diabetes and/or you have high blood glucose levels, obtaining a final expense policy may be your best option.
Edward Financial Group Advantage
Our firm is dedicated to finding the best price and product for each individual policy holder. With over 40 insurance carriers to choose from if a company fails to give you the lowest cost for diabetic life insurance we will remove your application and give it to a company that will.