If you have diabetes, your chosen life insurance carrier is an important factor to consider. Life insurance companies consider your general health, and a diagnosis of type 1 or 2 diabetes could impact your premiums.
According to the National Institute of Health (NIH), studies have shown that the mortality rate for type 1 or 2 diabetics is higher than for those who do not have the disease. This reality can increase the urgency of finding life insurance coverage for some people. Before you select a policy, consider this guide on finding the best life insurance options for diabetics in Georgia.
What Makes the Best Life Insurance Option for Diabetics in Georgia?
The right insurance company will offer competitive rates and coverage that your loved ones can depend on if something happens to you. Despite your diagnosis, your insurance company should work to ensure that you receive the best possible coverage based on your budget.
The process of securing life insurance can be difficult to navigate on your own. Discussing your options with your prospective insurance company could help you make the important decisions that go into purchasing a policy.
The Factors Insurers Consider When You Have Diabetes
A diagnosis of diabetes could cause life insurance providers to look at your case differently. The carrier will take your health into account when determining your eligibility, as well as the cost of your premiums. Some of the factors considered include:
Your Age at Diabetes Onset Plays a Part
Your age of onset will directly impact your insurance rate. In general, the later your age of onset, the lower your rates. Of course, other factors could contribute to an increase in those costs, even if your diagnosis was recent.
Your Treatment of Your Diabetes Can Be a Factor
Insurance companies will pay careful attention to how you have managed your diabetes since your diagnosis. There are different treatment plans available, but insurance companies expect some effort on your part to treat or manage your diabetes. If you follow your doctor’s orders and remain in otherwise good health, your rates could go down.
The Type of Diabetes You Have Matters
The types of diabetes aren’t the same, and life insurance companies won’t treat them as if they were. The rates for a person with type 2 diabetes are typically lower than those with type 1 diabetes. This is because type 1 diabetes is typically diagnosed earlier in life and is almost always managed through medication (insulin), while type 2 diabetes can sometimes be managed with diet and lifestyle adjustments.
Your General Health Will Make a Difference
It’s entirely possible you have other health issues beyond diabetes. That is why the insurance company will look at a complete picture of your health before issuing a policy. Even if your diabetes is under control, other health issues could negatively impact your coverage.
Is a Medical Exam Required to Get Life Insurance Coverage in Georgia with Diabetes?
One of the important questions to consider when looking for insurance coverage is whether or not a medical exam is required. Some carriers will require a medical exam before issuing any policy for life insurance to an individual with diabetes. Other carriers might only require an exam for policies that are over a certain monetary threshold.
The types of exams required by insurance companies can vary. Some will only require a general physical in order to qualify for a policy. If there are concerns about a diabetes diagnosis, some insurance companies might require a microalbumin test. This type of bloodwork determines whether or not any damage to the kidneys has occurred. This condition could be the result of untreated diabetes.
Lowering Insurance Costs for Diabetics in Georgia
The reality for people with diabetes is that life insurance rates take your health into account. However, there are steps you could take to lower your premiums. Some of these tips apply to all policies, like giving up smoking.
Most important of all is managing your overall health. By maintaining a healthy weight, keeping on top of your A1C, and avoiding unhealthy lifestyle choices, you could find your rates decreasing over time.
Regardless of your circumstances, finding affordable life insurance coverage in Georgia is possible.