Diabetes & Circulatory Problems Affecting Life Insurance
Whole Life Insurance and Diabetes
With whole life insurance if you were diagnosed with diabetes after your eighteenth birthday or later you can get whole life insurance coverage.
An amputation due to diabetes would not be acceptable even though an amputation for any other reason would still be.
Diabetes combined with neuropathy can be acceptable but your agent needs to know that in order to connect you with the right life insurance company Prescott as some would decline and others would accept.
Other related issues of circulatory problems caused by diabetes can also get you declined.
We, as your agent need to know what they are up front so that you can be paired with the best possible option.
Whole Life insurance — Smoking, Rheumatoid Arthritis & Diabetes
You can still get life insurance if you are a smoker of any kind, even if you have additional issues like diabetes and circulatory problems.
Since smoking has been proven to increase the risk of various ailments, smokers will pay higher rates than non-smokers who otherwise have the same risk factors.
If you have two applicants, both are in good shape, both have similar family histories and both pass their exam, but one is a smoker and the other is a non-smoker, then the smoker is going to have a higher premium.
According to LifeInsuranceForSmokers.com, even if you have poor health, on top of smoking, you could get as much as $50,000 in life insurance. No matter your condition, you can find insurance. It’s just about how much you’re willing to pay.
That having been said, smoking kills and if you are still doing it you might want to make a real effort to stop now before it’s too late.
If you’re a smoker with diabetes, you’re still fine with whole life insurance. It’s simply going to be structured at a smoker rate and it’s going to be a “no medical exam, start right away” kind of policy.
Rheumatoid arthritis is totally fine for whole life insurance even if it’s a severe case of rheumatoid arthritis, depending on the prescription medicines that may or may not go along with it.
As your agent we need to know about these negative health conditions. That is why we’re so thorough when we ask questions about what’s going on with you medically. We want to make sure that we get you an approval upfront, at the best possible price that will start immediately with no waiting period.
If you are taking Gabapentin for nerve pain, that will also be a consideration for approval or disapproval.
That is something that triggers the automated approval process or automated decline process that a lot of these life insurance companies are using nowadays.
If you have diabetes and you’re taking Gabapentin, then we must categorize the condition as diabetes plus neuropathy. The good news is we can still pair you with something that’s going to be a great fit, for a great price that starts right away.
Term Life Insurance, Diabetes, Smoking & Rheumatoid Arthritis
Term life insurance is a lot harder to qualify for when diabetes and circulatory issues are concerned.
In order to be considered for term life insurance the diabetes has to have been diagnosed by age 30. The way that these insurance companies view this is the later the diagnosis occurred, the more time your body has had to get used to it.
An early diagnosis can indicate deeper problems. That’s why they care about at what age the diagnosis was first made.
Life insurance companies also consider the number of diabetes prescription medicines you are on, setting the cap at two or less prescription pills. If you’re injecting insulin for diabetes you are not eligible for term life insurance.
Further, you need to be a nonsmoker if you have diabetes in order to get term life insurance. There are some, very few, exceptions to that. As your agent, you need to let us know upfront so that we can look at the smaller number of companies that have no problem with that. You’ll get a smoker rate and that’s a given but they will approve you with no waiting period.
Another disease that can affect your eligibility for term life insurance is rheumatoid arthritis, which is very common.
Fortunately, having arthritis will rarely disqualify you from life insurance coverage unless you have rheumatoid arthritis that has caused damage to your central nervous system, lungs, or heart. Depending on your situation, though, life insurance with arthritis premiums may be very expensive.
To be eligible for coverage it must be a mild case of rheumatoid arthritis and it has to be totally under control and presently being treated. You must provide a recent track record showing that you’re taking your medication and there is no need for concern.
Your height and weight ratio is also considered when applying for term life insurance. Be sure to tell us or your agent right away what it is so we can consider that when shopping for the best term life insurance policy possible.
Obesity affects over a third of Americans, according to the Centers for Disease Control and Prevention. It hampers quality of life while increasing your chances of having a stroke and developing coronary heart disease, Type 2 diabetes, some cancers and other conditions that can lead to an early death.
There are severe health issues that can come along with excessive weight, including, severe circulatory problems and things like that. So if your health is good and it’s just that you’re on the heavy side, we as your agent can work with that.
However, you must understand that there overweight you are for your height the higher your premiums will be when considering all of the negative medical conditions being overweight can cause.
We, as you agent, will still shop for the best term life insurance policy that we can for the best coverage and price possible.
Once again, when it comes to term life insurance, you have to be healthier in order to get approved.
Bear in mind that regardless of diabetes or other medical conditions that are not acceptable for term life insurance, we can always turn to whole life insurance or guaranteed issue life insurance as a recourse.
Guaranteed Issue Life Insurance
What Is Guaranteed Issue Life Insurance?
Guaranteed issue life insurance, or guaranteed acceptance life insurance, is a type of whole life insurance policy that does not require you to answer health questions, undergo a medical exam, or allow an insurance company to review your medical and prescription records, according to Investopedia.
Guaranteed issue policies are designed for people with serious health conditions that keep them from buying policies that offer immediate death benefits.
Compared with other types of life insurance, guaranteed policies generally have high premiums relative to their death benefits because their policyholders are in poor health.
Your beneficiaries will still get something; it will just be less than you’d like. Insurance companies put this waiting period in place because if they didn’t, everyone could apply for insurance on their deathbed and pay a few hundred dollars to secure a $25,000 benefit for their family. No insurance company could stay in business this way. Guaranteed issue life insurance provides coverage to sick people who otherwise couldn’t get it.
Guaranteed issue life insurance policies will cover most medical conditions excluded from term life insurance or whole life insurance companies but at a much higher cost because the risks for the companies is so much higher. It’s for people that have health issues and are going to be declined.
Once again, the insured must stay alive for two years before becoming eligible for a full-coverage payout upon their death and if you die during that first two years, it’s quite a reduction. All your beneficiaries would receive if you were to die in the first two years is the sum total of every payment that you make to the life insurance company, plus 10%.
However, as long as you’re between the ages of 50 through 80, any gender, any health conditions, any height, and weight issues you are guaranteed approval. It’s just that there’s a reduction on the payout if death occurs within the first two years.
You live the past two years and it’s a hundred percent payout to your loved ones.
Please contact us through the links below if you have any more questions. We will be happy to answer them. We at protect With Insurance are ready too help you in every way we can get the best life insurance policy possible at the best rates available.