Diabetes is one of the most common illnesses in the United States. There are about 26 million Americans suffering from it based on the estimate of the American Diabetes Association. But because of the serious complications and high risks that go with diabetes, only a small number of companies offer life insurance for diabetics. And often, the rate of it is expensive.
However, it is possible to lower the high rate of the life insurance types that you can get for diabetes. What you have to do is know the factors that the life insurance companies check when making their underwriting. Then, you have to make adjustments based on the factors that you can influence.
Those factors that you can influence are your diabetic control, compliance to the doctor’s orders and the availability of your complete medical information. On the other hand, the type of diabetes that you have and the age when you acquired it are the factors that needless to say you can’t change.
But how does each of those determining factors affect your rate?
- Diabetes Type – Type 2 diabetes is usually more favorable than type1 diabetes. It’s for the reason linked with the age as Type I diabetes often occurs to those under the age of 30.
- Age When Diagnosed With Diabetes – The older you are the onset of diabetes the better. If you were diagnosed at age 50-69, that is considered good for your rate. However, diagnosis after 70 is said the most ideal.
- Diabetes Control – This is basically based on your fasting blood glucose level, random glucose levels and HbA1c level. The HbA1c level is what indicates how well you are controlling your diabetes.
- Diabetes Compliance – This refers to following the doctor’s orders, eating the right foods, maintaining a healthy weight and taking medication as dictated. According to Reuters.com, improving fitness helps the mobility of older diabetics. More than that though, it can lower any diabetic’s life insurance rate.
- Medical Information – Having a complete medical record tells underwriters you are working on your diabetes control. And that is favorable to your life insurance rate.
Diabetes is a treatable illness. Nonetheless, it is high-risk. Because of that, the life insurance types available for it are often of high rates.
However, it is not impossible to decrease those rates. If you know the determining factors of those rates and make good changes based on them, then, surely, you can pay less for a life insurance for diabetics.
Find the best life insurance type for diabetics today.