It’s all about control with diabetes life insurance underwriting
At LifeInsuranceAdvisors.com, our expertise will help you find your best deal for life insurance!
What Do Life Insurance Underwriters Look for When Underwriting Diabetes?
Life insurance underwriters want to know the following:
- What Type of Diabetes Do You Have?
- How Old Were You When Diagnosed?
- What Type of Treatment Do You Receive to Control Diabetes?
- What is Your History of Control? HbA1c, Fasting Blood Glucose, Protein, Microalbumin/Creatinine, etc.
- What are your average blood pressure and cholesterol readings?
- Do You Follow Your Doctor’s Orders?
- Do You Visit Doctor on Regular Basis?
- Do You Have Any Diabetes Related Complications?
- Do You Have Any Other Health Problems?
- What Are Your Diet and Exercise Habits Like?
A great resource for information is the American Diabetes Association
Life Insurance Prices for Type 1 Diabetes vs. Type 2 Diabetes
Life insurance for Type 1 will be more expensive than for Type 2 in most cases, but keep in mind that there are exceptions to this.
Recent Diabetes Articles
The general rule when it comes to underwriting gestational diabetes is that if your lab results return to normal levels after pregnancy, it is a minor issue at best with life insurance underwriters.
How Does Control Affect Life Insurance Underwriting?
Better control means better life insurance rates and a greater number of life insurance companies to choose from.
What Lab Tests Do Life Insurance Underwriters Look at When Determining Control?
HbgA1c is an indicator of diabetes control over a 3 month period of time and is the single most important lab result that underwriters look at. While each company has its own guidelines, the following rules apply to HbgA1c.
- Less Than 7 is considered to be Optimal Control
- 7.1 – 8.5 is considered to be Average Control
- 8.6 – 10.0 is considered to be Poor Control
- Greater Than 10 is considered to be Uncontrolled Diabetes
Estimated Average Glucose – eAG
The American Diabetes Association has been promoting the estimated Average Glucose – eAG reading as it provides a similar understanding of long term control as the HbA1c reading, but with less confusion as the eAG numbers closely resemble blood glucose readings.
Fasting Blood Glucose
Fasting blood glucose gives a snapshot of current diabetes control. A fasting blood glucose greater than 125 mg/dl is an indicator of diabetes. If the fasting blood glucose is between 110 – 125 mg/dl is considered to be impaired fasting glucose.
Fructosamine provides underwriters with an indication of blood sugar control over a 3 week period of time. Less than 1.9 mg/dl is considered to be good, less than 1.7 mg/dl is considered to be excellent.
Fructosamine testing is not as widely used as HbgA1c testing by life insurance companies.
Urine Microalbumin/Creatinine Ratio
The Urine Microalbumin/Creatinine ratio, aka ACR test may provide an indication of kidney related problems. Life insurance underwriters are looking for a Urine Microalbumin/Creatinine ratio of 0 – 0.010 mg/mg…basically this number should be a zero on lab testing.
How Does Medical Compliance Affect Underwriting?
As part of the overall underwriting process, life insurance companies will obtain your medical records and lab results from a paramed exam. Having good medical records with consistent follow-up is important, and is absolutely critical when applying for no medical life insurance diabetes policies.
Are you taking your medications as prescribed to you?
It’s important to follow your doctor’s advice and to take medications as directed.
Do you visit your doctor on a regular basis for follow-ups?
Underwriters want to see that you check in with your doctor on a regular basis.
Ready for a quote? There is never any pressure or obligation with our service!
Do Other Health Issues Affect Life Insurance Rates?
Whenever other health issues are present, underwriters will look at those conditions to determine if they are caused by diabetes, create additional underwriting complications, or present other areas of concern.
Cardiac related health issues are a primary underwriting concern. When heart issues and diabetes are present, life insurance underwriting becomes much more complicated, and may result in higher pricing.
Kidney health problems are of great concern to underwriters. If you have a history of lab results with protein in urine, underwriters will be looking more closely for potential kidney health issues.
Retinopathy & Neuropathy – Severe problems with either will increase life insurance rates, or may be cause for a decline, but the majority of retinopathy and neuropathy related issues are covered.
Insulin Shock/Diabetic Coma – If you have experienced insulin shock or a diabetic coma, the availability of life insurance depends on when it happened, what caused the insulin shock/diabetic coma, and how much time has passed since this occurred.
Diabetes Underwriting FAQs
I was just diagnosed with diabetes, am I able to buy life insurance today?
Yes and No…Life insurance rates are based on control. When you’ve been recently diagnosed, there is not much to go on in terms of evaluating your control. Guaranteed issue policies are available in many cases, but the best rates will typically require a postpone period of 3-6 months after diagnosis….and better rates may be available after you have 12-24 months of control.
I was declined for life insurance due to my HbgA1c test on my paramed exam…What do I do now?
It happens, especially with type 2 diabetes where the insured isn’t aware of their diabetes until they go through lab tests as part of a life insurance exam. The first thing to do is to request a copy of the lab results from the life insurance company. Once available, you will need to visit your doctor with the results, and your doctor will probably want to do a work-up.
If it turns out that you have diabetes, it will take some time with your doctor to gain control, begin medications, etc..before shopping for life insurance again. We usually recommend that we begin working with you about 3 months after diagnosis in order to begin the process of learning about your history, medications, etc…prior to applying again for life insurance.
If one company offers me a Table 2 ratings, will all companies offer the same rate class?
Definitely not! Each life insurance company has its own set of guidelines, and some companies do a better job underwriting diabetes than other companies. Let us know who you applied to and we’ll let you know if other more favorable options exist for you.
How Often Can I Re-Shop for a better life insurance deal?
You may shop for life insurance coverage as often as you like….For many of our clients, they come to us after having worked with another agent. You may feel that the existing life insurance you have may not be the best price available…you may be right.
There is no obligation or pressure with our life insurance service. We’ll tell you during our conversation if we think it’s possible to do better than what you currently have…If we think it’s possible, we’ll go through underwriting and upon approval you may accept the new policy if better and cancel the old. If it turns out that your old policy offers the best pricing, simply keep it.
What else can I do to improve my chances?
Improving your health, taking medications and following doctors orders are the best things that you can do. If you are not currently exercising, begin a routine under your doctor’s supervision. Weight loss and improved fitness will help with underwriters.
If you smoke, quit….Smoking and diabetes is a huge concern as both contribute to the hardening of your arteries, increasing the risk of heart attacks and strokes.
Guaranteed Issue Life Insurance
Sometimes traditional life insurance is not available due to health problems or maybe due to the policy need being small. In those cases, a guaranteed issue life insurance policy may be the best option. These policies tend to be expensive. In many cases, it makes sense to first shop for a traditional life insurance policy, and then switch to guaranteed issue life insurance policies if no other options exist.
It may make sense to look at this type of policy now, and once you have the diabetes under control for some time, we can look at replacing the guaranteed issue policy with a lower priced fully underwritten policy.
No medical exam life insurance products are available and may be worth considering if you are looking for convenience or do not want to give a blood and urine sample.
Keep in mind that the price will be more expensive for no medical life insurance than a traditional fully underwritten life insurance policy. Some people may wrongly think that only a no medical life insurance policy will be available, but if you take care of yourself and have control of your diabetes, many fully underwritten life insurance policies are available.
At LifeInsuranceAdvisors.com, our service is a no pressure, no obligation life insurance service.
We’ll give you the information you need to make an informed decision about your life insurance.
Please call us today at Toll Free (800) 909-2040 if you have questions. Thank you