If you’re a diabetic, or know someone that is, you know that it can be expensive. Medical supplies, prescriptions, testing equipment, doctor’s bills and health insurance costs can add up quickly. On top of these costs, you and your family need life insurance coverage and most companies make it difficult, if not impossible to afford coverage.
So what can diabetics do? In this blog, we’ll explain what most insurance companies won’t – what diabetic life insurance is, why it’s important and how diabetics can avoid expensive premiums and get affordable coverage.
What is diabetic life insurance and why is it important?
The truth is that diabetic life insurance really isn’t much different than any other life insurance, but lots of insurance companies consider diabetics a risk, so they give the policy a different name and charge a higher premium.
These policies are usually term life insurance policies that will help your family replace your income for a few years, pay off the mortgage, cover everyday bills and other expenses and pay for your funeral and burial. Without this coverage, your family may struggle to make ends meet and may even lose their home in the event of your death. While you may be healthy now, diabetes can cause complications if you become ill or injured, so it’s always good to have coverage in place just in case.
How can I avoid expensive premiums?
It’s no secret that some life insurance companies are more diabetic-friendly when it comes to cost, while others raise their prices because they don’t want the risk. You could shop around and get quotes from many companies, but quotes aren’t always accurate – you have to fill out the entire application to get a real idea of what the cost will be.
The easiest way to find the best company and policy is to work with an agent who is contracted with several different insurance carriers, so they can do the shopping for you. An agent who works with regularly with multiple carriers will know which company has better rates for diabetics, so you won’t have to worry about paying high premiums for the coverage you need.
NAA Life works with several large insurance companies like Mutual of Omaha and Foresters so that we can provide the best rates for all of our clients, whether they have health conditions like diabetes or not.
If you’re interested in finding the coverage that suits both your budget and needs, fill out the form on this page or visit our Diabetic Life Insurance page to learn more. We’d love to help you protect your family at a price you can afford!