If you have diabetes and know someone that does, and have applied for life insurance, you may have been told point blank that you are simply not insurable. There are a little over 2,000 companies in the country that sell life insurance and I don’t believe I would be stretching anyone’s imagination to suggest that more than 1900 of them don’t want anything to do with anyone who has diabetes.
Of the 100+ companies left I suspect that 75 of those are willing to accept the risk, but at such a high price that it is obvious they would really rather you take your problem somewhere else.
Wait! I started this article saying there was good news. And we are now down to about 25 companies in which to find that good news. This is where it gets interesting, because you actually have companies that haven’t made a decision about you before they see and hear the facts. This is where you need an agency like the Hinerman Group (or you need an independent agent) to help you put together the information and present it to the right companies based on your situation.
There is a good chance, and this is the good news, for better than standard offers on life insurance for those with diabetes. Let me put that in perspective. Standard is average. What I am saying is that you, even with diabetes, can get better than average rates. You have to qualify, just like anyone that applies for life insurance, but if you care about your condition and monitor it carefully, are compliant with your doctor’s orders, and have good control of your diabetes and associated risk factors, the reward is yours.
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