If you have a chronic illness like diabetes, it can be scary to think about trying to get life insurance. After all, insurance companies typically base their rates and premiums on risk. How much of a risk is it to insure this person? It would seem like insuring someone with diabetes would be a pretty big risk since diabetes increases your chances of developing other complications, like heart problems. However, assuming that insurance companies only base their premiums on risk is a very simplistic way of looking at it. Believe it or not, there are a lot of life insurance options for diabetics.
Simply having diabetes is not going to make your premium for life insurance spiral out of control. However, if you do not manage your diabetes, it could. By not monitoring your blood sugar levels and making sure that they stay healthy, you are increasing your risk of kidney disease, heart problems and in some cases, loss of limbs. These are clear signs to an insurance company that you are not monitoring your diabetes or, at the very least, not taking very good care of yourself. These are the kinds of things that will be factored into your life insurance.
Life Insurance for Diabetes
Overall, there are a lot of things that insurance companies do to help people with diabetes get insurance. For example, almost all life insurance companies will take a look at a person’s medical history over the past few years. They will see how that person has managed their blood sugar and if there have been any other problems. If that person has kept their numbers in check and has not had other problems related to diabetes, then they would be classified as a very low-risk diabetes sufferer.
The main thing to remember is that just because you are suffering from diabetes does not mean that you cannot get life insurance. What it really comes down to is how well you take care of yourself. Whether you have diabetes or not, life insurance companies are going to take a look at what the risk is to insure you, and your premium is based off that. If you have diabetes and you do not take care of yourself, then yes, your rates will be higher. However, the same can be said for people who do not have diabetes. Diabetes is not stopping you from getting life insurance, so go out there to find the right plan for you!