We help type 1 and Type 2 diabetics secure life insurance daily. Life insurance underwriting keeps changing and it's more important than ever to work with an independent life insurance agency that has the expertise in underwriting diabetes to make sure you secure the best rates on the market.
Here's a few recent case studies where we were in competition with other life insurance agents and came out with the best price simply because we knew the market better.
Type 2 Diabetic Life Insurance Case Study #1
Male, Non-Tobacco User (Rates will be higher for life insurance for smokers)
In December 2012, his a1c level was 11% on a routine blood test. He was prescribed Metformin. This is the 1st diagnosis of diabetes.
In February 2013, his a1c level was 7.8%
In March 2013, his a1c level was 5.8%
In May 2013, his a1c level was 5.6% and he was taken off Metformin.
This is all documented in his medical records.
In February 2013, his diastolic blood pressure was 90. He was prescribed Ramipril. In March 2013, he had a normal blood pressure reading, but still taking Ramipril for preventative reasons. The only medication he currently takes is Ramapril.
Everyone was offering a Table 2 and Table 4 rate class. We were able to find a company to offer him "Standard" rates by highlighting the fact he's been compliant with doctors orders and has seen his doc consistently to make sure this was taken care of. We also highlighted his active lifestyle. We did this by writing a cover letter which most agents won't take the time to do.
Type 2 Diabetic Life Insurance Case Study #2
Male, Non-Tobacco User
Type 2 diabetic on Glucophage with a current a1c reading of 7.6. Client didn't have as many details as the last case study and didn't want to take a medical exam. He said his a1c level never was over 7.8 within the last 5 years that he was diagnosed.
We were able to secure a $250,000 life insurance policy with no medical exam and an approval within 3 days. It's highly uncommon to get an approval this quick for someone with diabetes, but this is a good indication that the market is getting more aggressive in underwriting diabetic life insurance for type 2 diabetics.
Our client was thrilled with the result as he was told previously that securing life insurance with Type 2 diabetes would be a "stretch".
Bottom line here is that it really takes an agent that's experienced in underwriting diabetes. With access to over 60 life insurance companies, we constantly monitor their diabetes underwriting by surveying them every month to make sure we always have a pulse on the market.
Even if you've purchased a term life insurance policy with Type 2 diabetes effecting your rates, give us a call or get an instant quote on our website and we'll call you. Chances are we can save you money and if not, we'll tell you. Worst case scenario you get affirmation that you have the best rates available.