When purchasing life insurance, there are many underlying reasons that an applicant may have. He or she may wish to replace income, pay off debts for their survivors, or pay hefty estate taxes that may be due. But in any case, to obtain this important coverage, an application must be submitted – and in a traditional life insurance underwriting situation, the applicant’s health situation will also be reviewed.
For those who are in good health, attaining coverage is typically a fairly simple process of filling out the application for coverage, undergoing a paramedical exam, and then waiting for their policy to be approved. But, unfortunately, for those who have adverse health issues such as diabetes, the process is not so easy. This can be the case if the person is taking various types of medication to treat or manage their condition such as Metformin, as these medications can sometimes hinder the underwriting process even more.
How Metformin Works with Treating Diabetes
Metformin is a prescription medication that is used in the treatment and control of Type2 diabetes. When an individual is diagnosed with diabetes, it is important that he or she understands that there are two primary forms of this particular health condition – and they can differ significantly.
When someone has Type 2 diabetes – which is also often referred to as adult onset diabetes – they will typically have an issue with high blood glucose in the context of insulin, as well as relative insulin deficiency.
In further analyzing Type 2 diabetics, there are also several variations of this form of diabetes. For instance, those who have a more severe form of Type 2 diabetes may become more prone to having a stroke, as well as to having cardiovascular problems, to blindness, and / or to having kidney failure.
Conversely, those who experience less severe forms of Type 2 diabetes will typically experience frequent hunger and thirst – often referred to as polyphagia and polydipsia respectively – as well as the need to urinate frequently.
Type 2 diabetes is in contrast to Type 1 diabetes in which an individual will instead have an absolute insulin deficiency. This is due in large part to the destruction of islet cells in the affected individual’s pancreas.
Those who have been diagnosed with Type 2 diabetes may be prescribed Metformin for the control or the treatment of their condition. This is an oral medication that is used for the purpose of treating and in controlling blood sugar levels. Metformin is often used along with insulin or with other types of medication. It is important to note that this medication is not used in the treatment or control of the condition of those who are diagnosed with Type 1 diabetes.
How Taking Metformin Can Affect Getting Coverage
When applying for life insurance, the company’s underwriters will look at some different factors when making their determination regarding coverage. Certainly, these criteria include the applicant’s health condition, as well as the different medications that the individual is taking for treatment or control of such conditions.
What many people may not realize is that all life insurers do not underwrite applicants in an identical manner when they review an individual for coverage. What this means is that an applicant may be denied coverage altogether by one insurance carrier, and they may be accepted as a Standard rated policy by another. With this in mind, it makes a lot of sense to apply to more than just one life insurance carrier – especially if you have an adverse health condition and / or you are taking a medication such as Metformin.
How and Where to Find the Best Life Insurance Coverage
When buying life insurance for diabetics, it is important that you have a good strategy. One way to go about this is to work with a company or an insurance agency that has access to more than just one carrier. In doing so, you will be able to get your application for coverage in front of several different carriers – in turn, multiplying your chances of getting approved for coverage.
This strategy can also help you to compare life insurance companies, policies, benefits, and premium quotes to essentially determine which works the best for your specific situation, as well as for your budget. When you’re ready to start the comparison process, we can help.
We work with many of the best life insurers in the industry today, and we can get you all of the essential information that you need to make a well-informed decision. When you’re ready to start shopping for the best available life insurance coverage for your needs, just fill out the form on this page.
If you should have any questions prior to moving forward concerning finding life insurance while taking Metformin – or even about life insurance overall – please feel free to contact us directly. Our experts will be happy to answer any question or concern that you may have. We can be reached by phone, toll-free, by calling 888-229-7522.
We understand that the purchase of life insurance can be somewhat overwhelming – and we want to ensure that you get all of the details that you need to make a well-informed decision. So please contact us today – and see how we can help you to get the protection that you need.