Facts of Life Insurance – Diabetes
Diabetes comes in 2 forms.
Type 1 – diagnosed in children and young adults, and is known as juvenile diabetes. It is the rarer of the 2 types.
Type 2 – considered as adult-onset or noninsulin-dependent diabetes. It is the more common of the two.
With good control and normal A1C score life coverage is attainable. An A1C score under 7 is better for getting approved. It is tougher with scores beyond 8 but, it is still possible.
40yr. Male looking for 1 million of 20yr. Term
Less than $1,800/yr
40yr. Female looking for 1 million of 20yr. Term
Less than $1,500
You may be able to get a better deal on a permanent policy. Many insurance carriers offer underwriting credits. Individuals with diabetes would qualify for those credits. It could result in a substantial reduction in premium.
You should always try to obtain coverage going through normal underwriting channels. Premium wise it should make a big difference in cost. If that method doesn’t work then a client can look at a guaranteed acceptance policy. That should be used as a last resort.
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