Is diabetic life insurance available without an exam? Yes. There are, however, some caveats. You can't sugarcoat it, I have diabetes. You can qualify for coverage without a physical even if you have type 1 or type 2 diabetes, however, it isn't as straightforward as the condition itself.
We are your go-to resource if you need diabetic medical insurance without an exam. There will be a discussion on the application process, which companies to apply to, and samples of quotes.
Diabetic life insurance with no exam: As a starting point, you should learn what life insurance companies think about diabetes.
Life insurance approval is affected by diabetes, why? In the end, carriers take on risk for the sake of financial security. Here, risk is a keyword. A carrier wants a fair amount to charge you for the amount of risk that you pose, whether that risk is based on your health or lifestyle or financial history.
It is well known that diabetics are at a higher risk for heart disease than the general public.
● Nerve damage
● Cardiovascular diseases
● Kidney damage
● Foot damage
● Eye damage
● Skin conditions
In order to qualify for no exam life insurance, you must jump through a couple of extra hoops due to possible health complications.
A Diabetic's Guide To Applying:You will be asked five questions about diabetes by underwriters, the carrier representatives who evaluate applications.
You should always be truthful and honest. There is no need for you to withhold health information since your records will be reviewed.
Prepare yourself by answering the following underwriting questions as effectively as possible.
1. How long have you had diabetes? Underwriters look differently at a recent diagnosis than one from 20 years ago. Why? You are more likely to be a carrier if you're younger at the time of diagnosis. It is generally advisable to find a life insurer when you have diabetes at age 40 or older.
No matter what type of diabetes you have, complications become more likely the longer you have it.
2. Does your diabetes have a specific type? You should pay attention to this.
Type 1 diabetics have a tougher time securing no exam life insurance. Type 2 diabetics have an easier time.
Type 1Type 1 diabetes patients MAY still be able to purchase life insurance without undergoing a physical, but it's important to realize why carriers are hesitant.
● Unfortunately, Type 1 diabetes does not yet have a cure
● A young age is typically the time when the diagnosis is made
● For Type 1 diabetes, carriers prefer diagnoses after 30 years of age
● There are serious risks associated with Type 1 diabetes
● The blood sugar could rise or fall dangerously if your insulin pump fails
Type 2Type 2 diabetics are more likely to approve.
● Exercise and diet are usually the best ways to reverse Type 2.
● A diagnosis is typically made at an older age
● There is a preference for carriers who are 40 (or 50) or older
3. How was your blood sugar level recently? Carriers pay particular attention to your A1C level.
Why? Over a period of time, around 3 months, A1C levels show changes in blood sugar levels. The applicant can't change A1C levels, as they can change blood sugar levels.
● A1C readings typically viewed by carriers -
● A range of 6.0 - 6.9 is favorable
● The range of 7.0 - 7.9 is usually acceptable
● A score between 8.0 and 8.9 puts you in a riskier health category
Traditional no exam life insurance is most likely to be approved if your A1C readings are favorable.
4. What medications do you take? Once again, if your diabetes is well controlled, underwriters are interested.
Treatment effectiveness is influenced by the type of medication used, if any.
How would you rate the situation? Diet and exercise are the only ways to control your diabetes. Those with Type 2 diabetes have this option.
Secondly, what do you recommend? Controlling blood glucose with oral medication. Obviously, this is only applicable to type 2 diabetics.
Is there a third option? Taking insulin. More specifically, using insulin responsibly to maintain constant reasonable blood glucose levels.
The worst that could happen? Uncontrolled diabetes if your treatment regimen is not followed.
You will want to share your prescription if you take any of the following diabetic drugs:
● DPP-4 inhibitors
● SGLT2 inhibitors
● GLP-1 receptor agonists
Have you been diagnosed with other medical conditions?Additional medical conditions are often associated with diabetes. A comprehensive understanding of your health will be required by your underwriter. The following conditions are more prevalent among diabetics than the general population:
● Vascular disease
● A number of cancers
Diabetes is more likely to occur if you smoke. Let your doctor know if you smoke.
Steps to follow:No exam life insurance is more likely to be accepted by diabetics for two reasons.
1. PreparationYou need to be ready to answer specific questions about your diabetes if you are applying for traditional life insurance, such as term. Answer the important questions using our infographic and a pencil and paper.
2. Self-employedYou should seek the advice of an independent agent if you have an unusual circumstance, such as a medical condition.
Why? To compare multiple providers and quotes. Diabetes is viewed differently by each company, so you should have options.
There is no captive agent system for independent agents. Independent agents can access a wide variety of carriers.
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