When people apply for life insurance coverage, some will be able to qualify for the protection that they need much more easily than others. In some cases, an individual will be able to simply complete the application for coverage, go through the paramedical exam, and then wait to hear back about their approval.
For those who have various health conditions such as diabetes, it could be a much more drawn out process – and in some cases, approval for coverage may not come at all. The good news is that there is a way to improve your chances of getting approved for the life insurance coverage that you need. This is the case even if you take certain medications such as Amaryl for treating your diabetic condition.
How Amaryl Works for Treating Diabetes
Amaryl – also known as Glimepiride – is an oral type of medication. It is used for those who have Type 2 diabetes in order to help in controlling blood sugar levels. The medication does so by helping the patient to better respond to insulin that is produced by the pancreas. The medication works best when it is used in conjunction with proper diet and exercise. In many cases, it is also used in combination with insulin or other types of diabetic medications.
There are various side effects that can occur when taking Amaryl. However, these are typically rare. These may include severe hypoglycemia – of which symptoms include confusion, extreme weakness, sweating, tremors, rapid heartbeat, nausea, rapid breathing, seizure or convulsions, and / or fainting.
Can You Qualify for Life Insurance Coverage While Taking Amaryl
There are applicants who can qualify for life insurance type 2 diabetics while taking Amaryl – and it is even possible to obtain a Standard policyholder rate. However, there are criteria involved such as your overall health condition, as well as factors such as your smoking status and family health history.
It is also important to keep in mind that while most life insurance companies will have a similar manner of reviewing their applicants for coverage, not all companies are identical in the way that they qualify those who apply. This means that an applicant who applies for life insurance at one insurance carrier may be approved as a Substandard, while the very same individual may be approved as a Standard policyholder at another carrier.
With this in mind, it is important not to just apply with one single life insurance company. It is a better strategy to go through an entity that has access to many – especially if you have certain health issues and / or if you take a medication that will cause the underwriters to do a more thorough review of your application.
What Will the Life Insurance Underwriters Want to Know When You Take Amaryl?
When applying for life insurance coverage, the underwriters will want to know about an applicant’s overall health and health history. They will also need to know additional details regarding certain types of medications that the individual is taking for various health conditions. This is especially the case for conditions such as diabetes.
On the general application for coverage, the applicant will be asked to provide basic information such as:
- Height and Weight
- Smoking Status
- Alcohol Consumption
- Occupation and Income
- Marital Status
- Hobbies and Habits (i.e., dangerous hobbies such as rock climbing, scuba diving, skydiving, etc.)
- Other Life Insurance In-force (and if so, what is the dollar amount)
- Foreign Travel Frequency (if applicable)
With regard to the taking of Amaryl, the underwriters will typically ask additional questions in order to get a more clear idea of how the medication is being taken, as well as how well the medication is working in order to control the applicant’s diabetes. The questions that are asked of the applicant may include some or all of the following:
- When were you initially diagnosed with diabetes?
- When did you start taking Amaryl for treating your diabetes?
- What is the dosage of Amaryl that you are currently on?
- Has the amount of your Amaryl dosage changed over time?
- Are you also treating your diabetes in other manners (i.e., diet, exercise, etc.)?
- Do you use other types of medication and / or insulin in conjunction with Amaryl?
- Have you experienced any side effects from taking Amaryl?
It is likely that in addition to the application for coverage and the additional questions regarding Amaryl, you will also be required to undergo a paramedical examination as a part of the life insurance underwriting process. This typically entails meeting with a paramedical professional – usually at your home or place of employment. This meeting will usually only take about 30 minutes.
The paramedic will take a heart and a blood pressure reading, as well as blood and a urine sample. These samples will be tested for various risk factors by the insurance company in order to determine whether or not you will present additional risk to the insurer.
Also, it may be requested that the life insurance underwriters review your medical records from your primary care physician and / or from any medical specialist(s) that you see for your diabetic condition.
Once all of your information has been received by the life insurance company, the underwriters may review it in its entirety and can then make a much more informed decision regarding your coverage, as well as an appropriate amount of premium to be charged.
How Much Will Your Life Insurance Coverage Cost?
The cost of your life insurance policy can be dependent on a variety of different factors. Overall, this includes your age and gender, your life expectancy, and your overall health. It will provide the life insurance underwriters with a way to determine approximately how much risk you present to the insurance company – and in turn, they can then come up with a certain amount of premium to help compensate for that risk.
If, for instance, it is found that even with your diabetic condition you are controlling it well through diet, exercise, and taking Amaryl, you could be eligible to qualify for a Standard policy. This means that you could pay the premium rate of the average policyholder in your age and gender classification.
However, should your health be a bit more risky to the insurance company, you may still qualify for coverage – but it may instead be at a substandard policyholder rate. This means that you will pay a rate that is higher than that of the average policyholder in your age and gender class.
For those who have Type 2 diabetes and who take Amaryl, it is not likely that you will be able to qualify for a preferred policyholder rate.
Where You Can Find the Best Life Insurance Quotes When Taking Amaryl
In order to find the best quotes for life insurance when taking Amaryl, it is typically a good strategy to work with either an agency or a company that has access to more than just one life insurance carrier. This way, you will be able to more directly compare – in an unbiased manner – multiple carriers, policies, benefits, and premium quotes. From there, you can then decide which of these will work the best for you and your specific situation.
When you are ready to begin comparing plans, we can help. We work with many of the top life insurers in the industry today – and we can assist you with obtaining all of the important information that you will need for making a more informed life insurance purchasing decision. If you’re ready to move forward fill out the form on this page.
You will then receive the details – including side-by-side premium quotes, all from your home computer quickly and conveniently, and without the need to meet in person with a life insurance agent.
Should you find that you still have any questions as you move through the process, our experts can discuss your needs further. We can be reached via phone, toll-free, by dialing 888-229-7522.
We can assist you with which type of life insurance policy may be right for you, as well as helping you compare the cost of different types of policies. In addition, we can provide you with the differences in the costs of a wide variety of carriers that are available in the marketplace today.
We understand that the process of purchasing life insurance can seem a bit overwhelming. This can especially be the case if you’ve been turned down for coverage in the past. You want to ensure that you have all of the details that you need before you make a final purchase decision. And now you have an ally on your side for helping you to do just that. So, contact us today – we’re here to help.