how to save money on life insurance for diabeticsCan a diabetic find affordable life insurance? Yes, if you follow these 3 steps. Here is what you need to know to save money on life insurance for diabetics:

1. Control Your Diabetes

You probably know that how well you control your blood sugar makes a big difference in your health. What you may not know is that controlling your diabetes can also make a big difference for your life insurance premiums. How can you control your diabetes?

  • Eat the right foods.
  • Exercise regularly.
  • Keep your weight in a healthy range.
  • See your doctor for check-ups.
  • Take all medications as prescribed by your doctor.
  • Ask your doctor questions about how to better control your blood sugar and following that advice.
  • Check your blood sugar regularly and adjust your eating and/or medication and/or insulin.
  • Keep records of your blood sugar tests, exercise and food intake.
  • Consult with your doctor about what changes might help you keep better control of your diabetes.

Life insurance companies know that a person with diabetes who has good control over their disease is a much healthier person and all companies take how well you control your diabetes into consideration when they rate you for insurance.

2. Use an Independent Agent Experienced in Underwriting for Diabetes

Different life insurance carriers have different underwriting guidelines and different ways of looking at diabetes and other health conditions. This means that one of the most important parts about saving money on diabetic life insurance is finding the right company, one who has better underwriting for diabetics.

An independent agent who has experience in dealing with people with diabetes is a good guide to help you find the right carrier. Moreover, an independent agent with experience in underwriting diabetics can also help you in the application process.  They also know how to talk with the insurance company underwriter if you don’t get the rating expected.

3. Prepare for Your Exam

When you apply for life insurance, you will take a blood test. The AC1 blood test will examine how well you are controlling your diabetes over the past several months. You will also be examined by a paramedic for your height, weight, blood pressure and other health indicators.

Your agent will give you instructions to help you get the best results on your exam. It’s important to get the best results possible because the insurance companies look at your lab results as the most recent information about your health. They review your exam and any doctor records they request to make a determination about your rating. Your rating determines the price you pay.

The Bottom Line
Life insurance for diabetics can be affordable. More importantly, you can help make it more affordable by caring for your health and using an independent life insurance agent to help you find the best insurance.

Photo credit: Chris Potter