How to save on life insurance when living with diabetes – PR News Blog


Did you know that people with diabetes often find that their premiums will be charged to reflect an increased level of risk to the insurance company? What should be a simple task can become too complicated – and expensive – for diabetics.

It’s estimated that one in 11 adults worldwide live with diabetes, so if you’re experiencing this issue, you’re definitely not alone.

In 2022, if you live with this condition, you don’t have to accept paying much more than others as inevitable! Yes, diabetes can be a very serious condition, but if managed well, most people can lead full and normal lives. It’s the difference in severity of the condition that makes it difficult for insurers to standardize their policies and that’s where your personal circumstances come into play.

So how much can you help yourself? There are some simple lifestyle changes and insider tips you can consider in order to get the best coverage for you and your family.

First, it’s helpful to understand some of the factors underwriters consider when considering your application for diabetes life insurance. These will include your lifestyle, age, weight, BMI, recent HbA1c reading, whether you have type 1 or type 2 diabetes, medications you are currently taking and things like d other existing health complications in your medical records.

Remember that the life insurance quote you receive will be based on the answers you give throughout your application. If you are able to demonstrate that your diabetes is under control, you are more likely to be able to get a better deal on your coverage.

Matt Schmidt of Diabetes365 mentions “it is extremely important to work with agents who specialize in working with the diabetes community. Finding life insurance with diabetes can be tricky, and many agents or websites will provide false information. For example, life insurance for type 1 diabetes rates will be significantly more expensive. If you see a website advertising Standard rankings, they are intentionally misleading you. »

Save money by quitting smoking

If you have diabetes and you smoke, quitting smoking will immediately benefit your health. People with diabetes who don’t smoke are better able to manage their blood sugar levels. Evidence suggests that smoking specifically makes type 2 diabetes more difficult to manage and a much more deadly condition. It’s simple: smoking and diabetes are a bad combination. If you smoke, quitting will reduce your insurer’s risk and your premiums should go down.

Save money by watching your weight

Maintaining your healthy weight is one of the easiest ways to save money on your life insurance policy. Weight loss can make a big difference for people with diabetes because it can reduce blood glucose levels, which in turn can reduce the effects of diabetes and make the disease more manageable.

Step back a few numbers on your scale, and you’ll bring your blood sugar more in line and feel better overall.

Life insurance companies will have a formula to assess what is healthy for your height and if you are overweight you will likely be charged more for coverage. Weight loss doesn’t have to be dramatic for you to have a big impact on your confidence. A few pounds off your body should equate to fewer pounds on your premiums!

Save money by managing your blood pressure

Blood pressure is the pressure your heart uses to push blood through your blood vessels and around your body. High blood pressure puts more pressure on your blood vessels, making it harder for blood to flow to vital areas of your body and leading to many health risks.

Lowering your blood pressure and cholesterol is a great way to show insurers that your diabetes is under control and that you are less at risk! A big part of lowering your blood pressure is making the positive lifestyle changes we’ve talked about here.

Save money by becoming active

Being active and staying mobile is great for people with diabetes. Whatever you feel capable of doing, it all makes a positive difference! You can go for a run or swim, or even yoga can help you qualify for lower premiums.

By exercising regularly, you’ll maintain a better weight and most likely watch your diet closely. All of this also helps you manage your diabetes on an ongoing basis.

Life insurance underwriters like to see evidence that their diabetic applicants are active. This is easy to do because you can share FitBit or Apple Watch data with companies. Life insurance and technology are changing, and it’s to your advantage.

Save money by drinking less alcohol

People with diabetes are generally advised to limit their alcohol intake, as it interferes with your blood sugar levels. It can also affect your weight, as alcoholic beverages can be high in calories. As a result, those who drink more alcohol pose more risk to insurers, leading to higher premiums. By controlling your alcohol consumption, you reduce your premiums.

Save Money by Considering a No Medical Exam Policy

Different insurers judge an individual’s risk in different ways. If your diabetes is not currently well controlled, one option is to consider a policy that does not require a medical exam. Standard life insurance generally requires you to take a blood and urine test. These results, along with a review of your most recent diabetes records, would determine the type of rate you will be offered.

Not everyone with diabetes has the best control of their condition. A1C levels tend to fluctuate over time. If your A1C levels are higher, purchasing a no medical exam life insurance policy might be a smart option.

Instead of all the tests, insurers will ask basic health and diabetes questions to give them the information they need to make their underwriting decisions. If a person does not have a favorable A1C, a no-medical policy can save them 10-15% on their premiums. Or, in some cases, policies like these are the only ones you might qualify for.

Getting help from a life insurance expert can help you navigate this process. Don’t feel like you have to do it all alone.


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