Today’s Question: I am a diabetic, how will that impact my life insurance?
Diabetes certainly has a large impact on your life insurance, but thankfully, insurance companies are a lot more lenient today than they were in years gone by. If you are a diabetic, obtaining a life insurance policy is relatively easy and like anything, it depends based on various factors.
Factors such as your weight, any medications you are on, your blood sugar reading, whether or not your diabetes is insulin dependent or not all impact the premium on a traditional fully underwritten policy.
If the individual is an insulin dependent diabetic or if their diabetes is not under control, they may want to look at a simplified issue policy. These policies have a short series of health questions and no medical tests. The more question that you can answer no to, the better the rate.
It is best to speak to a broker who understands all that restrictions and limitations when it comes to any health problems, that way you get the best possible policy for your particular situation.
Have more life insurance questions? We have more answers for you here!
