If you've searched for life insurance before, you've probably noticed that diabetics usually have their own section, or a separate coverage plan. In some cases, this means that you'll have to pay more for life insurance coverage just because you have diabetes. So how can you be sure that you're getting a good deal?
Many insurance companies have expensive "high risk" life insurance plans for people with a history of health conditions that can be life threatening, like heart disease, stroke, heart attacks, cancer and COPD. Some companies choose to put all diabetics in this "high risk" category, even though you may not have a severe case or any complications. With these plans, you'll have to pay a much higher rate and you probably won't have the option for a lower rate in the future if your coverage ends or if you cancel the policy.
When searching for coverage, you should make sure that you're being offered the same options that a non-diabetic would be offered. If the coverage amounts on a policy normally range from $25,000 to $200,000, then the coverage offered for diabetics shouldn't be any different. If an agent or company offers you an amount that's much lower, they're probably offering you a high risk plan. Unless you have a severe case of diabetes, have had complications in the past or have additional health conditions, you should not have to settle for the high risk plans.
Also look for agents who represent more than one insurance company. If your agent only works with one company, they probably only have one or two plans to offer you. Agents who work with multiple companies are more likely to have a wide variety of options for you to choose from.
Work with an agent who listens to your needs, asks a lot of questions about you and your family and addresses all of your questions and concerns. The more an agent knows about you, the better they can find or tailor a plan to meet your needs and the needs of your family. If an agent immediately starts talking about their plan options, they probably only have "one-size-fits-all" plans that may not be the best deal for you.
If you're a diabetic or pre-diabetic and would like more information on affordable life insurance coverage, fill out the form or give us a call. Our agents represent more than 10 different insurance companies and will listen to your needs to ensure that you get the best deal. You can also visit our diabetic life insurance page.
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