Why having Diabetes is considered a High Risk by Life Insurance Companies?

Why having Diabetes is considered a high risk by life insurance companies?

Life Insurance companies consider diabetes a high risk  because it is the leading cause of kidney disease, blindness, and amputations. Nearly 25% of people who have it don’t even know it. Testing is crucial so the public can be educated about their health.

In the United States 24 million people have been diagnosed with diabetes and the American Diabetes Association estimates that there are another 6 million who have the disease but don’t know it. It is one of the major public health crises of the 21st century, and it continues to grow to epidemic proportions.

How It Affects Your Ability to Obtain Life Insurance

Diabetes is considered  a major risk factor for other health issues that was discussed previously . Not having regulated, normal  glucose levels in the blood can affect almost every organ in your body including your eyes and your teeth.

Insurance know there is a risk involved in taking an applicant that has diabetes and are very careful to evaluate that risk.

The Bad News: If diagnosed as diabetic,  premiums will be higher

As a general rule, many life insurers will act on the fact that:

  • Premiums will be higher depending on age, date of onset of the condition and control levels
  • Control levels are established by certain blood tests (including fasting glucose) and testing the urine for the amount of glucose present

There is a term known as higher risk individuals amongst those with diabetes. These are people who will typically have a higher premium compared to others who have diabetes.

These include:

  • Younger people with diabetes
  • People who have had the condition for longer periods time
  • People who have not had diabetes for 12 months (due to the fact that readings can fluctuate dramatically in year 1)

Other risk factors will increase premiums for diabetes life insurance. These include smoking, high blood pressure, retinopathy, BMI and abnormal lipids.

The Good News: There are ways to help Reduce Premiums

Glucose levels affect your life insurance premiums.

Monitor your glucose levels by taking reads.

The amount of glucose, or “sugar,” measured in the human body’s blood will change throughout the day and night. It really changes based upon what, when, and how much a person has eaten. It also makes a difference if the person has exercised or not. If your glucose levels are acceptable to insurance companies, your rates may not go up .

Moreover,  the premium rate for those who have Type 2 diabetes will be less than those who have Type 1 diabetes. Again, if you are older and  have contracted diabetes will tend to be looked as more favorable than a person who is younger , for example in their 20s. .

Regulation is the Key

An individual should ideally have  blood sugar levels at normal levels which is between 70 and 99 mg/dL at a normal fasting. In order to maintain a normal level ,  they must  monitor it in order to ensure that they take the proper amount of insulin or other medication .

An average fasting glucose reading of less than 130 or 140 mg/dL. (A “fasting” glucose reading means a reading that is taken before the individual has eaten breakfast or has food within his or her system for the day) is ideally what a diabetic should be at . The very best readings for these individuals are typically in the range of between 100 to 120.

Other Important Testing

Other important testing that will likely be performed for those who are diabetic. . Doctors , for example, will typically perform a test called the A1C on diabetics. The A1c test will tell what the individual’s average blood glucose levels are over a long period of time, such as two or three months.

The A1C test can be a good test to have performed it  can provide a more “averaged out” reading for a person.

Seeking a Life Insurance Comparison Company

Smithfin will give you an opportunity  to find life insurance companies that best understand diabetics but also  have the companies fight for your business. Give us a call at 1-888-409-5115.

About Smithfin
About Smithfin

Smithfin William Smith  is the owner of Smithfin.com. He's an independent life insurance agent.     "We work with individuals across the nation to secure the best life insurance rates saving them time, money and frustration."

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