Underwriting Life Insurance For Diabetes sufferers and Diabetes Life Insurance Information

Life Insurance Firms differ inside their "underwriting philosophy" with regards to diabetic issues. If the underwriters are not fully trained, offering life insurance for diabetics can be risky. If the company will accept them as a risk, underwriter will have few factors that they have to determine. Not necessarily a declination for coverage, though moderately controlled diabetes cases would usually merit a "rating" or an increase in the premium. There are options - it will just cost them more for coverage if the client with diabetes that is looking for life insurance is not controlled!

Diabetic Life Insurance can be obtained no matter how severe the diabetes condition is. The rate for insurance will naturally reflect that if the proposed insured has well controlled diabetes and a history of compliance with what the Doctor reccomends. The better the control, the better the rate. Clients with well controlled diabetes have a great chance at getting a lower rate from a regular insurance carrier and would qualify for a policy that is fully underwritten. If, at the other extreme, the client has very poor control over the diabetes, the rate will be higher and the client will have to go with a life insurance plan that guarantees acceptance. This type of life insurance is called "guaranteed issue life insurance".

Guaranteed issues of insurance for diabetics patient is definately more expensive than a regular person and sold as whole life insurance. Because it builds cash value and is intended to cover the client for their "whole life" as opposed to a "term" period of time, although this type of insurance can be advantageous. The premiums paid into the policy would be paid to the beneficiary PLUS 10% interest if the insured dies within the first 3 years of the policy's inception. That's another provision of guaranteed issue. After a period of 3 years, the insurance policy would pay the full death benefit to the beneficiary.

Fully Underwritten policies take the client's full medical records into account. The doctor's records are ordered, blood is drawn, a urine sample is taken, and a full screening is done to evaluate the client. It is after the company's underwriters look at the case if the insurance company decides to insure this applicant. If the client is fully passes and underwritten through underwriting, then they would have more options than just whole life insurance (in the case of those who are in need of guaranteed issue whole life insurance). Term insurance, Universal Life Insurance, Survivorship Universal Life Insurance, and regular Whole Life Insurance would be available to these applicants that are fully underwritten.

Fully underwritten life insurance may be available subject to the client's full medical file if the client's A1C level is below 8. Guaranteed issue life insurance is a more realistic goal if the client's A1C level is above 8.

One of the things that applicants fear in the case of insulin dependent type 1 diabetics is whether or not their insulin pump will prevent them from getting a life insurance policy. An insulin pump is actually a positive factor where life insurance underwriting is concerned because the client's insulin level is kept at a constant level.

How often do you monitor your blood sugar level? This is seen as evidence of compliance on the part of the client if the client habitually monitors their glucose level. If you didn't regularly monitor your blood sugar level, it'll have a negative impact on the insurance writer.

Have there been any low sugar episodes? Have there been any high sugar episodes? Is the client takingglucophage and glucovance, insulin injection, or other type of medicinal treatment? Is the client controlling the diabetes with "exercise and diet"? Perpared the answers to these question in mind.

By the way...Anyone can be insured, you don't have to be "uninsurable". Guaranteed issue is available for clients between the ages of 80 and 46 and up to $35,000 in coverage. If you CAN make it through an underwriting evaluation, you should try unless you just want to pay more and be done with it, again, this is the more expensive type of life insurance and it is advisable that!

So, which ilife insurance company will accept patient with diabetic? As  broker only with "A" rated companies that have the right combination of price, customer service, product variety, and recognition in the market. I deal with companies that take clients on a case by case basis as opposed to categorizing them "by the book". I have fully researched the market, I am in touch with the underwriters personally, and I assure you that these companies have the proper credentials to back up their policies. My clients are provided with full company backgrounds and financial profiles. I deal with several companies that are in the market to insure diabetics. The reason why I am witholding exactly what companies I deal with is because I want to earn your business and represent you as your life insurance agent