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Life Insurance for Insulin Dependent Diabetic Women

Life Insurance for Insulin Dependent Diabetic Women

Life insurance for insulin dependent diabetic women is possible, but some important factors do apply.

At InsureTheQueen (ITQ) we know these factors very well.

By the way, the information in this article applies to both type 1 and type 2 diabetic women on insulin.  As you may already know, women with type 1 diabetes must have insulin delivered by pump or injection to survive.  Type 2 diabetic woman can usually control with diet and exercise.  However, over time medication and insulin are commonly used to control blood glucose with type 2 diabetics as well.

Diabetic Women on Insulin Need Independent Life Agents

 

Every life insurance company has their very own set of underwriting guidelines they follow.  Underwriting for life insurance is not an exact science. It is important to utilize an independent life insurance agent if you are an insulin dependent diabetic woman.  Independent agents have access to multiple life insurance carriers which gives them the ability to shop the best rates.  Plus, a diabetic on insulin is a bit more complex when is comes to getting your application approved with a top rated company.  A medical exam and an attending physician’s statement will be required in order to qualify for traditional life insurance (Fully underwritten).

The good news is that many life insurance carriers are recognizing advances in the ability to accurately control diabetes.  As a result, many underwriting guidelines are being updated to reflect this.  Also, many carriers will even provide credits for wellness and a healthy lifestyle.  So, do not think for a second that you are an automatic decline for life insurance if you take insulin.  You may be surprised to find out that life insurance for insulin dependent diabetic women is attainable.

Now, let’s take a brief look at how an independent life insurance specialist at ITQ will carefully handle your case.

3 Top Factors Insulin Dependent Diabetic Women Must Know

 

insulin top factors

1.  Diagnosis Date

When were you first diagnosed with diabetes?

The higher the age of diagnosis, the better in the eyes of a life insurance company.  Simply because the diabetes has taken less of a toll on your body over time.

ITQ Life Insurance Specialist Insider Tip:

Diagnosed over age 60 and in the last 5 years with an A1c around 6 is a sweet spot with one insurance carrier that could possibly give you a preferred rating if all else checks out.

2.  Recent A1C

When was your last hemoglobin A1C?  And, what was the result?

Lower is better when it comes to your A1C.  The normal range for the hemoglobin A1C test is between 4% and 5.6%. Hemoglobin A1C levels between 5.7% and 6.4% indicate increased risk of diabetes, and levels of 6.5% or higher indicate diabetes.

Reducing A1c by one percentage point can reduce the risk of eye, kidney, and nerve diseases by 40%. – According to the Center For Disease Control and Prevention

ITQ Life Insurance Specialist Insider Tip:

If you have an A1C below 7.0, then you can get a Standard rating from a handful of life insurance carriers if you are generally healthy.   (Of course, you need to be a non-smoker too!)

3. Controlled?

Besides Insulin, how are you controlling your diabetes?

(That song by Janet Jackson from 1986 keeps ringing in my ears…”Control!!”)   I apologize, I needed to lighten the mood a bit.

Ok, back on track ladies!

The best answer a life insurance carrier can hear is that you are 100% compliant with the treatment plan your Doctor or Endocrinologist has recommended you to follow.

Self management will be a huge part of your recommended treatment plan.  This will include regular exercise, following a diabetic meal plan, regular routine check in’s with your Doctor regarding overall health, monitoring blood sugar regularly etc…

ITQ Life Insurance Specialist Insider Tip:

Obtain a letter from your Dr. about your treatment plan and just how well you manage your insulin dependent diabetes.  The more specific the information, the better.  Your ITQ Life Insurance Specialist can submit this letter with your application for the underwriters to review.  A letter like this can go a long way and possibly bump you up a rating.

 

Other Factors, Table Ratings & Complications of Insulin Dependent Diabetic Women

As mentioned above, women with insulin dependent diabetes do have a chance of obtaining a standard rating from a life insurance carrier.  It would need to be an ideal situation of the 3 factors above and the following other factors below.  A Table 2-4 rating is typically a starting point that will be looked at in most cases of insulin dependent diabetes.  Table ratings allow an insurance company to further evaluate an individual in accordance with their risk level. The rating allows them to provide coverage, but at an increased rate depending on the table rating. For example, a person that has a table rate of A can typically expect to pay the standard rate plus up to an additional 25%.

Other Factors

Height & Weight, Blood Pressure, Cholesterol, Average Fasting Blood Sugar…

Diabetic Complications

diabetes complications

Life Insurance for women and diabetes complications

These complications and others will make it challenging to obtain traditional life insurance as a diabetic.  It is a case by case basis, but most insurers will decline to offer.  Be sure to check out the ITQ tip below for one last option if you are faced with this situation.  If can be frustrating, but we are here to help.

Neuropathy- can cause numbness in the feet

Ketoacidosis – can lead to diabetic coma

Nephropathy – kidney disease

Very High Blood Pressure-  raises chances of a heart attack, stroke, eye problems, and kidney disease

Eye problems- i.e. Glaucoma

ITQ Life Insurance Specialist Tip:

Guaranteed Issue Life Insurance is an option if you are declined due the complications listed.  The face amounts are low and a minimum age of 50 will usually be required to even apply.  However, no questions are asked and you are guaranteed life insurance.

A Range of Monthly Life Insurance Cost Examples (Standard to Table 4 Rating)

Scenario:  Non- Smoking 50 year old female (Nearest age 51) seeking a 20 year term life insurance policy for $100,000

Standard: $32.55

Table 1: $39.64

Table 2: $46.64

Table 3: $53.73

Table 4: $60.73

*Rates effective as of 3/28/2015 from Genworth Life Insurance Company

More information regarding Genworth can be found in the following ITQ article:

 

 

Bottom Line Regarding Life Insurance for Insulin Dependent Diabetic Women

 

The reality is that a person with diabetes has a shorter life expectancy and about twice the risk of dying on any given day
as a person of similar age without diabetes.  –  According to the Center For Disease Control & Prevention

Take good care of yourself and document what you are doing on a regular basis when it comes to managing your insulin dependent diabetes.

Find yourself an experienced Independent Life Insurance Agent.  They should be familiar with your medical diagnosis and have access to many life insurance carriers.  This gives them the ability to shop for the most competitive price with a top rated life insurance carrier as I mentioned in the beginning.

Insure The Queen would be your best choice.

Click below to find out why…

10 Reasons Why ITQ is the #1 Life Insurance Resource For Women

Check out this article if your still needing information about diabetes in general and life insurance …. Affordable Life Insurance For Women With Diabetes

Please feel free to reach out to us if you have any other questions about life insurance for insulin dependent diabetic women.  We are happy to assist and there is never any obligation.

You can contact us by phone at:  (619) 933-0736

Email us at: LifeInsLady@gmail.com

Shop quotes online Apply online and get the process started today

Still not sure, check out this article about ITQ and how we get high risk life insurance cases approved!

 

*Written by Ellen Edwards. InsureTheQueen.com and its representatives do not give medical, legal, or tax advice. Please consult your own physician, legal or tax adviser.

 

 

 

 

 

 

 

 

 

 

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Ellen Edwards

Independent Life Insurance Agent at EM Insurance Services
Ellen Edwards is the owner of EM Insurance Services, an online life insurance agency. She is also the creator and lead blog writer of InsureTheQueen.com. You can find her on Google +, Twitter, and LinkedIn. Over the past 7 years, Ellen has successfully consulted individuals across the United States regarding their insurance needs. She is a proud single mom to two daughters and a son.
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