Obtaining life insurance is an important component of one’s overall financial planning process. However, obtaining life insurance with juvenile diabetes or other various health conditions can be difficult. This is because life insurance coverage is based in large part upon your life expectancy – and therefore, the underwriters at the insurance company will want to review your health.
When a person has diabetes – including juvenile diabetes – it can have an effect on life expectancy. So, depending on the length of time an individual has had the diabetic condition, as well as the severity of it, insurance coverage could be rated as a substandard, or even declined altogether.
If, however, you can apply through a life insurance specialist that works with carriers that may be more prone to accept someone with juvenile diabetes, then your chances of getting a diabetic life insurance policy can be significantly improved. This is where we can assist you as we focus on working with individuals who have various health issues or certain life style choices such as smokers life insurance or needing a specific occupations insurance coverage such as pilot life insurance, to get the life insurance that they need.
How Juvenile Diabetes Can Have an Effect on Your Life Insurance Application
There are two types of diabetes. These are Type 1 and Type 2. Type 1 diabetes is considered to be rarer, and only about 5% of those who have diabetes will contract this form of the condition. Because Type 1 diabetes will typically start in individuals who are under the age of 20, it is often referred to as juvenile diabetes.
When a person has Type 1 diabetes, glucose does not move into the individual’s blood cells. This is because there is no insulin there to help it do so. Rather, it will build up in the bloodstream, in turn, starving the cells. This will then cause the person to have high blood sugar – and this can lead to some complications, including dehydration, weight loss, diabetic ketoacidosis, and other bodily damages such as harm to the kidneys, heart, and eyes.
Medical professionals do not know what leads to Type 1 diabetes. However, they do know that a person’s heredity can play a key role. It is also known that Type 1 diabetes can result when something in the overall environment, such as a virus, notifies a person’s immune system to attack the pancreas. This is because most people who have this type of diabetes have evidence of this attack, which is referred to as autoantibodies – which are present in almost all who have this condition, especially when their blood sugar is high.
Because of the various health complications that it can cause, those who have juvenile diabetes can have a more difficult time in qualifying for type 1 diabetes life insurance coverage – and when applying for life insurance, the insurance carrier’s underwriters will want to know as much as possible about your health and your diabetic condition. Therefore, they will typically ask some condition-related questions before making a determination about your coverage.
What the Underwriters Will Want to Know About You
Regardless of whether you are applying for term or permanent life insurance, there are typically certain steps that you will need to follow. For example, when applying for life insurance, an individual will typically be required to fully complete an application for coverage. Here, they will need to provide information such as their:
- Name and Contact Details
- Height and Weight
- Smoking Status / Tobacco Usage
- Alcohol Usage / Frequency
- Health History
- Family Health History
- Marital Status
- Foreign Travel Frequency
- Other Life Insurance in Force (and the amount of coverage)
In addition to the general application, those who have certain health issues such as juvenile diabetes will usually be asked to answer additional questions about their health. These will include questions such as the following:
- When were you initially diagnosed with juvenile diabetes?
- Do you have any other health conditions due to your juvenile diabetes such as kidney issues or neuropathy?
- Are you taking any medication (such as insulin) for your juvenile diabetes? If so, what type of medication are you taking, and what is / are the dosage(s)?
- Are you using any other methods to manage and / or control your juvenile diabetes?
- Do you regularly visit your doctor or other medical professional regarding your juvenile diabetes?
- What is your current blood glucose level?
- What is your most recent A1C level?
- Have you had any complications within the past six months due to your juvenile diabetes?
- Have you had any relevant lab or diagnostic testing performed over the past 12 months concerning your juvenile diabetes?
In addition to the application and additional questions to answer, it is likely that the life insurance company will want you to take a medical exam as a part of the overall application process. During this examination, you will meet with a paramedical professional who will typically ask you some additional health questions.
Also, you will need to submit a blood and a urine sample. This blood and urine sample will be tested by the insurance company for various risk factors that could have an effect on the insurance coverage.
The life insurance underwriters may also want to review additional information such as your medical records from either your primary care physician, any medical specialist that you see – or both.
After all of your information has been received by the insurance company, the underwriters will be able to make a determination about your life insurance policy, as well as about an appropriate premium amount to charge.
How Much Will Life Insurance for Juvenile Diabetes Cost
For those who have juvenile diabetes, the amount that is charged in premium for life insurance can vary. If you are in extremely good health, other than having juvenile diabetes, a Standard policy rating may be possible.
However, in many cases, a Substandard policy rating may be more in line. While the premium that is charged for a Substandard life insurance will be more than that of a Standard policy, the rate will still vary, depending on the life insurance carrier that you go, though. This is why it is important to shop through an independent agency or company that has access to multiple life insurance carriers, as the premium can vary – even for the very same applicant and the very same amount of insurance coverage.
What If You Don’t Qualify for Medically Underwritten Life Insurance Coverage
In some instances, an individual may not be able to qualify for a medically underwritten life insurance policy. In this situation, getting life insurance is still possible thought a no medical exam life insurance plan.
As the name implies, a no medical exam policy will not require an applicant to go through a medical examination as a part of the underwriting process. Therefore, those who have health issues like juvenile diabetes will have a better chance of qualifying for life insurance, as there will be no medical requirements to contend with.
No medical exam life insurance policies can also be issued much faster than medically underwritten life insurance. This is because the time to go through all of the medical data is not necessary. Therefore, no medical exam life insurance can often be issued within just a few days, or even sooner in some cases.
How and Where to Get the Best Premium Rates on Life Insurance for Juvenile Diabetes
If you are seeking life insurance for someone with juvenile diabetes, we can help. We work with a wide variety of life insurance carriers – and we can help you to find the insurers that may be more apt to work with “higher risk” applicants. This can help to save you a great deal of time throughout the insurance application process. It can also greatly improve your chances of qualifying for the life insurance coverage that you need.
We can assist you in comparing from many of the top life insurance carriers – all from the convenience of your home computer, and without having to meet in person with a life insurance agent. So, if you are ready to move forward, all you have to do is just fill out and submit the quote form on the side of this page.
Should you find that you still have any questions at all regarding life insurance for juvenile diabetes – or even if you just have a question or a concern about life insurance in general – our experts will be happy to assist you. We can be reached directly via phone, toll-free, by dialing 888-229-7522.
We understand that if you have a health condition like juvenile diabetes, you might be somewhat apprehensive about going through the life insurance application process – especially if you have been turned down for coverage in the past. But, the good news is that today, you have many more options that are available to you, and you have an ally on your side who is working to find you the insurance protection that you need. So, don’t leave your loved ones’ future financial security to chance. Contact us today – we’re here to help.