Buying Life Insurance After a Diabetes Diagnosis

Published On : 08/16/2022

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Being diagnosed with a chronic health condition is an experience that can only be understood if you have gone through it yourself. There are a million thoughts that run through your mind, and it is a complex topic that encompasses so many different aspects of your life. 

Having a preexisting condition like diabetes is both physically and mentally taxing on the patient. Affected persons are constantly fretting about how many years the disease is taking off of their life. They think about whether they need to worry about how long they will be around to provide financially for their spouse and children. 

Term insurance for higher risk people can be affordable if you can prove to your life insurance company that you are putting in the work to maintain your symptoms and improve your lifestyle in the wake of the diagnosis. Diabetes is a chronic condition, so keeping up with it is an excellent way to lower your insurance rates as you get older and become more of a risk.

We’ll look at some ways you can diet and exercise, go to the doctor, and educate yourself on your diabetes diagnosis. We’ll see how all these factors affect your potential life insurance policy as a person with diabetes. 

What is diabetes?

Diabetes is a chronic disease in which the patient suffers from insulin resistance. They are unable to properly process the glucose in the body, putting strain on the pancreas. There are two types of diabetics.

• Type 1 diabetics are insulin-dependent. They need insulin shots daily because their body doesn’t produce any insulin anymore. 
• Type 2 diabetics can often create their insulin — just not enough to metabolize the sugar entering the bloodstream like a non-diabetic person would be able to.

There is no known cure for diabetes at this point, but the strategies and methods of fighting the illness are more advanced than ever, leading to healthy and fulfilling lives for people of all ages diagnosed with it. 

Changing your diet, getting more exercise, taking advantage of a good night’s sleep, and keeping up with any prescribed medications are all great ways for diabetic patients to monitor and attack their condition head-on. 

Diabetes can be a mentally draining condition, and being diagnosed during the pandemic can compound mental health problems presented during this time. Everyone is thinking more about their mortality right now, which means deciding whether they need to be more urgent in preparing for their futures.  

Life insurance is definitely an option that people with chronic diseases like diabetes should think about signing up for. However, folks with preexisting conditions are prone to higher rates and more haggling with life insurance agents. 

Can you get life insurance with diabetes?

You absolutely can get life insurance with diabetes. Everyone with diabetes should be thinking about their future and how it will impact their loved ones because they are more prone to life-ending complications. 

People with diabetes are at a higher risk for heart attack, stroke, and other fatal health issues because too much glucose in the bloodstream leads to the entire body acting out and displaying physically taxing side effects.

At the same time, insurance groups are aware of the higher risk of taking on a diabetic client. 

They are more likely to have to give a payout to the policyholder than a non-diabetic individual, but that doesn’t mean they are unwilling to work with diabetic patients. If they turned away everyone with illnesses, they would have a much harder time getting customers. 

Insurance companies want to make sure that diabetic people who sign up are taking care of themselves and trying their hardest to fight the disease. This means they will be more accepting of people with diabetes who exercise, eat well, take their insulin and pills, and have regular doctor appointments. 

An A1C under 7 is also a huge plus. This is the average score of all your blood sugar readings over the last three months and gives a great idea of blood sugar control to a healthcare provider. 

A more in-depth example might be more instructive for an audience that isn’t so familiar with diabetes. 

If a patient has an A1C of 6.5, goes to the doctor every three months, works out at a gym four times a week, and eats lots of nutritious proteins that are low in carbohydrates, they will get good insurance rates from a life insurance company.

Suppose a patient has an A1C of 8.5. They only go to the doctor once every two or three years, seldom exercise, and eat at a hamburger restaurant every other night. They will be charged a small fortune on life insurance premiums because they are a high risk for the company. 

Age is also an essential factor. If the patient is in their 20s, they are less likely to die from any illness than someone in their 60s. Let’s talk a little more about that because some people believe that young folks can’t be diagnosed with diabetes. 

Does diabetes affect all age groups?

Diabetes absolutely affects all age groups, and a diagnosis at a young age can be especially devastating. Many type 1 diabetics are diagnosed during childhood — so much so that it has been nicknamed juvenile diabetes in popular culture. 

Type 2 diabetes is definitely rising in young adults, and if they have families, they should think about how to prepare.

Just because you are young doesn’t mean you should ignore the potential complications that will follow you as you get older. Pay attention to your disease and you will have a better life in older age.

Embrace your condition and do everything in your power to stay positive mentally. This mindset will have a tremendous impact on your decisions to change your lifestyle and give you a better chance at a long and prosperous life.

About Author:

Shawn Laib writes and researches for the life insurance comparison site, Clearsurance.com. He enjoys helping people who are struggling through a medical diagnosis. 

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.