Getting Life Insurance Coverage When You Have Type 2 Diabetes
As a small-business owner, you know that life insurance is important for you and your family. However, perhaps you have been diagnosed with type 2 diabetes as well. If that’s the case, you may be concerned that you won’t be able to purchase a life insurance policy. So what should you do if you don’t already have life insurance?
Perhaps you’ve read or have been told that as a diabetic, your only option will be a life insurance policy that’s more expensive than you can afford. However, even if you’ve been previously denied coverage, life insurance coverage for people with diabetes does exist.
You’ll need to do your research, though. Also, it will help if you have a good idea of what to expect before you start looking for a policy.
What Is Diabetes?
There are several types of diabetes, all of which affect the way the body processes food. More than 23 million Americans have diabetes of one kind or another. Of these, around 90 percent have type 2 diabetes.
People who have diabetes are at a greater risk of other health risks as well. These risks occur because of complications from diabetes. They include heart disease, stroke, blindness, and kidney failure.
A diagnosis of diabetes was once considered a death sentence. However, improved medical care has brightened the picture. These days, a person with type 2 diabetes can greatly improve his or her chances of living a long and healthy life. Simple modifications, including changes in diet and exercising more, can make an enormous difference.
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Can I Get Life Insurance if I Have Diabetes?
You’re probably aware that if you have diabetes, life insurance will cost more for you than it does for other people. In a recent Health I.Q. survey, 77 percent of people knew that insurance premiums were higher for those with diabetes. They also understood the reasons why this would be so.
However, what you may not realize is that those with type 2 diabetes fare better than those with other types of diabetes. This is most likely true because type 2 diabetes typically occurs later in life. It is also easier to manage.
Additionally, people who have had their diabetes under control for several months typically get better rates for life insurance than do others. The methods you can use to get your diabetes under control include exercise, diet, oral medication, injectable insulin, or some combination of these methods.
Don’t Give Up Before Learning the Facts
So don’t resort to a no-exam policy or give up altogether. Instead, consult Health I.Q.’s life insurance guide. Here, you will learn more about rates for life insurance through Health I.Q. The life insurance specialists at Health I.Q. will take the time to get to know you. Their application process is different. For example, they will help you prepare for your medical exam. Additionally, they will work with carriers to secure the best possible rate for you.
So if you’re faced with a diagnosis of type 2 diabetes and you don’t yet have a life insurance policy, don’t give up. You can still protect your family with an affordable life insurance policy.