What You Need to Know About Tobacco Use and Life Insurance

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If you’re a smoker, you already know all the health risks that have been linked to this expensive habit. You’ve probably tried all the recommended methods for quitting; maybe even a few times. We aren’t here to lecture you – you’re probably surrounded by loved ones that can handle that. Our job is to educate you on how smoking could effect your ability to obtain life insurance.

It’s a common misconception that tobacco smokers are unable to get life insurance. Or, at the very least, that smoking pushes the premium into the “unaffordable” category. The truth is, purchasing a term life insurance policy as a smoker is a fairly painless and affordable process. There are a few things you need to know to insure the best possible outcome.

Cigarettes Aren’t the Only Products Underwriters Are Looking For

Many consumers assume that cigarette smoking is the only thing that is considered in the underwriting process. The truth is, there are a number of other tobacco products that are frowned upon.

  • Chewing tobacco
  • E-cigs/Vape pens
  • Cigars
  • Nicotine replacement, such as gum or patches

If you use any of the above, prepare to pay a higher premium than you would as a non-smoker. When speaking with a life insurance agent, be honest with them about your tobacco intake. Each insurance carrier has a different set of rules regarding what is acceptable and how much additional premium they charge for your habit. In fact, many will even charge a non-smoker’s rate for individuals who partake in a “celebratory cigar” every now and then.

”I Quit Smoking Last Month. Doesn’t That Make Me a Non-Smoker?”

Unfortunately, no. Most carriers require you to be tobacco-free for at least twelve months before offering a non-smokers rate. Two to five years nicotine-free qualifies you for Preferred or Preferred Best rates, assuming all your other medical exam results are in order.

The great news is, just because you only qualify for the Smoker’s class right now, doesn’t mean you’re stuck there forever. Most companies will consider you for a better rate once you’ve hit that one year mark. So, if you have a current policy, talk to your agent about your specific insurer’s requirements for lowering your premium payments. It could be as simple as a blood or urine test.

Marijuana Usage Can Effect Your Premiums Too

When we think of smoking, we naturally think of tobacco. While there have been many changes in public opinion and legalities when it comes to cannibas, it is still illegal in many states. This, coupled with the fact that the federal government still classifies it as a Schedule I controlled substance, leaves a lot of gray area for the life insurance underwriting process.

If this is a concern for you, don’t get discouraged. Each insurer has their own set of guidelines regarding how they underwrite marijuana usage. Frequency of use, reason for use, and method of intaking are all factors that could affect your eligibility and rates. Best plan of action – be honest with your agent. They can assist you in identifying the right policy for you.

How Long Does Nicotine Stay in One’s System?

There are a number of ways to test for nicotine. Cotinine, the predominant metabolite of nicotine, can be detected in the system for longer than nicotine. Therefore, most medical exams bypass the nicotine test altogether, testing for cotinine instead. How long this metabolite is detectable varies, depending upon a number of factors. A menthol smoker’s body expels cotinine at a slower rate than non-menthol smokers.

Additionally, urine tests provide a more accurate reading, while blood and saliva tests are less sensitive. If you enjoy the occasional celebratory cigar, it’s a good idea to wait at least a week before going in for your life insurance medical exam.

Looking for coverage and have no idea where to start? We understand that each client’s situation is unique. To accommodate our customer’s diverse needs, we have partnered with the very best in the industry. One of our agents would love to help you find the best coverage, at the most affordable rate, to fit your needs.

Considering Life Insurance? Don’t Make These Common Mistakes

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When considering which auto or home insurance option best fits their needs, consumers spend hours mulling over their choices. Most consumers meet with their insurance agent prior to making a final decision. Why is it then, that they spend considerably less time on their life insurance decisions; one that promises to affect not just their financial future, but that of their family’s? Read more →

Understanding the Financial Strength Ratings of Life Insurance Carriers

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The primary reason consumers purchase a life insurance policy is to ensure their loved ones have a financial safety net once they’ve passed on. For the vast majority, that safety net isn’t needed for years, even decades, after the policy’s inception. How devastating would it be to have a carrier collect your premium every year, only to find out they’re financially unstable and unable to pay the death claim when it comes up?

While life comes with no guarantees, there are a number of companies that recognize the importance of consumers partnering with financially stable life insurance carriers. They have made it their mission to evaluate each insurers’ financial strength, sharing their findings with the public.

Which Rating Agencies Can You Trust?

There are four major rating agencies:  A.M. Best, Standard & Poor’s, Fitch, and Moody’s. Each has their own method of evaluating insurance companies, but they’re primarily looking at the carriers financial holdings, average amount the insurance company pays in claims, and how much they’re collecting in premiums.

Since each organization evaluates companies differently, it’s a good idea to compare several financial strength ratings before making a financial decision. You will also want to have a clear understanding of each company’s rating scale, as they vary from one to the other.

A.M. Best – Focuses primarily on insurance companies. Access to A.M. Best requires free registration.

Standard & Poor’s – In addition to insurance carriers, Standard & Poor’s rates financial businesses and products. Access to Standard & Poor’s requires free registration.

Fitch – In addition to insurance carriers, Fitch rates financial businesses and products. Access to Fitch requires paid registration.

Moody’s – In addition to insurance carriers, Moody’s rates financial businesses and products. Access to Moody’s will require a free registration process.

Understanding the Ratings

To accurately determine the financial security of a life insurance company you’re considering, you’ll need a basic understanding of their ratings.

Each rating agency will assign one of nine to sixteen financial strength ratings. They are rating long-term financial strength and the carrier’s ability to pay out future claims.

Highest financial strength ratings vary from agency to agency. A.M. Best’s strongest ratings are A++ and A+.  Moody’s top ratings are Aaa and Aa.  Fitch and Standard & Poor’s top ratings are AAA and AA.

Whenever possible, stick with a company who has earned the strongest financial ratings. Steer clear of those who have earned ratings at the low-end of the scale. To ensure accuracy, refer to each agency’s rating scale, located on their website, when making comparisons. Do NOT rely on what the insurance carrier says about their ratings; conduct your own research to ensure accuracy.

While is it natural for price to influence our decision, choosing a life insurance policy based solely on premium is strongly discouraged. Before entering into a legal contract with a carrier, make sure you understand how they conduct business, how long they’ve been in business, and the strength of their financial portfolio, long-term. Your independent insurance agent can help you identify the best policy to fit your family’s needs, which should include assistance researching financial strength and ratings.   

5 Common Reasons Why a Beneficiary Could Be Denied Death Benefits

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One of the most caring things you can do for your family is ensure financial security after your death. For most, this is done through a life insurance policy. In most cases, the death benefit is paid without any issues. Unfortunately, there are situations where the beneficiary is denied pay out, leaving them both financially and emotionally stressed.

Here we explain the most common mistakes consumers make that lead to the denial of a life insurance claim:

1) Material Misrepresentation

Once you enter into your contract/life insurance policy with the insurance company, your two year contestability periods begins. If you pass away during that time, the claims representative will conduct an investigation to ensure everything on your insurance application was truthful and that nothing was left out. If you lied or omitted on your application, the carrier has the right to refuse pay out, regardless of the cause of death.
Once you’ve survived the contestability period, the beneficiary’s risk of being denied due to misrepresentation is significantly reduced.

2) Policy Lapse Due to Nonpayment of Premiums

This is probably the most common reason for claim denial. While premium payment is required for the policy to remain in force, there are times when nonpayment of premium isn’t a sufficient reason for denying a claim. Beneficiaries who are denied for this reason should confirm with the carrier that premium-due notices were sent in a timely manner, to the correct address, and that the notice very clearly warned the insured that a policy lapse was imminent.

3) The Type of Death Isn’t Covered

Historically, life insurance carriers excluded death from dangerous activities such as skydiving, war, or scuba diving. While this is no longer the norm, many carriers will still exclude death by suicide. Many carriers now waive that exclusion once the policy’s contestability period runs out.

4)  Beneficiary Designation Not on File

When filling out the application, be sure to designate both a primary and secondary beneficiary. If no one is designated, your loved one could be denied pay out. Every policy has provisions regarding who should be paid out in this situation, as do most states. While a claim will, eventually, be paid, non-designation of a beneficiary will, at the very least, prolong the process.

5) Post-Divorce Beneficiary Changes

In many divorce cases involving minor children, life insurance is ordered by the court. The ex-spouse is to be listed as the beneficiary on the policy and must be maintained until the minor child is of age. If the parent later violates this court order by changing beneficiaries, the new beneficiary could be denied coverage.

In a perfect world, every life insurance claim would be paid out without delay or question. If you find yourself in this unfortunate situation, be sure to consult with a professional immediately. Make sure you understand your legal rights and obligations and do not accept the denial without going through the appeals process. More often than not, it’s worth the battle.

7 Ways to Support Someone Who is Grieving

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“I’m so sorry for your loss.”

”Let me know if there’s anything I can do.”

”My condolences.”

These are the standard responses we are trained to offer when someone we care about suffers a loss. What can you possibly say that will truly help comfort this person?

The truth is – nothing. There is not a single thing that will magically erase the pain, sadness, and turmoil this person is feeling. What you can do, is be present. Let your grieving loved one know that you’re there for her/him by being open, receptive, and available, both physically and emotionally.

Finding the right balance between being present and overbearing can be a little confusing. So, we’ve compiled a list of suggestions from professionals across the globe, with definitive ways to help loved ones navigate through the grieving process.

How to Make Your Presence Count

1) Open a line of communication as soon as possible. It’s important to remember that grief often makes people feel alone and afraid. Shortly after the loss, contact them, acknowledge the loss, and let him/her know they are not alone. Phone calls, texts, emails, and letters are all acceptable methods of contact.

2)  Share similar bereavement stories. Again, this time can be lonely. Hearing from others who have endured similar situations reminds the person that they will be ok. They will smile and laugh again.

3) Listen. Robert Neimeyer, a psychology professor at the University of Memphis, says, “We need to have big ears and a small mouth when we’re addressing a bereaved person.” Encourage your friend to talk about whatever it is that’s on their mind. Whatever it is they choose to talk about, listen with interest.

4) Think, then speak. While there’s not really anything you can say that will take away the pain, there are many things you can say that could compound it. A good rule of thumb – think about what you would like to hear, were the roles reversed.

  • Don’t ever compare their loss to the loss of a pet. Yes, pets are family too but, this is neither the time, nor the place.
  • Do always remember how personal grief is. Don’t tell your friend how they are feeling or should feel.
  • Don’t be overly optimistic, particularly in the beginning. While your intentions might be true, optimism in those early days only minimizes your friend’s loss.

5) Encourage them to cry when they feel like they need to. Crying is cathartic. Never say “don’t cry.” Their crying might make you uncomfortable but, this isn’t about you. Just be there for them with a gentle touch, hug, or hand held. And if they don’t want to cry, that’s ok too. Again, we all process a loss differently.

6) Let them grieve on their timeline. Being present should last well beyond the first week. Unless you’ve been asked to leave them alone, check in on your friend on a regular basis. Keep a calendar with important dates, such as anniversaries and birthdays, making a special point to touch base on those difficult days.

7) Share memories. Help ensure the deceased’s legacy lives on. Share photos and stories, either in person or written. Make a point to laugh with them as much as you can. If you did not know the deceased, ask to hear stories. You’d be surprised what you might learn about your loved one.

Do:

  • Say the deceased’s name.
  • Be specific when offering to help. Find out what needs aren’t being met and focus on those.
  • Offer to help with paperwork, bills, and opening the mail. These tasks can feel daunting for someone in mourning.
  • Offer to accompany them to sign the death certificate.
  • Make them laugh any chance you get.

Don’t

  • Offer to help and not follow through.
  • Force your help. If alone time is what your friend needs, give it to them.
  • Bring up religion or say things like “He’s in a better place now.”
  • Send flowers right away. Wait a few months, when everything has died down. You have no idea what such a simple act of kindness can do for someone who is trying to get used to their “new normal.”

6 Life Events That Should Prompt You to Reevaluate Your Life Insurance Coverage Needs

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For many of us, life insurance never even crosses our mind until a major life event occurs. Whether you’re purchasing a new home or starting a family, our financial responsibilities will change and evolve over time. For many, this signals the need for life insurance. In fact, 41% of all life insurance purchases are life event-related. Let’s take a look at life’s most significant changes that should motivate you to reevaluate your financial situation and consider adding life insurance to your portfolio.

New Home Purchase

There are few things more exciting that collecting the keys to your new home. Living the “American Dream”, however, comes with a price. Regardless of what happens in your personal life, the mortgage company expects their payments monthly. Would your spouse be able to afford the mortgage payment, should the unthinkable occur? What about property taxes, home insurance, and regular maintenance costs? Having sufficient life coverage can help ensure your family isn’t uprooted unexpectedly.

A New Baby or Other Dependent

Welcoming a new baby into the world is a time for celebration and hope – perhaps the happiest time in a parent’s life. As you’re picking out paint colors and baby cribs, consider examining your financial health. Are you doing enough to save for your child’s future and how would your strategy be affected should you or your spouse suddenly be removed from the picture? Your children will be your most celebrated accomplishment, as well as your greatest responsibility. Start investing now to ensure they grow up in a stable environment and have everything they need to fulfill their dreams.

Whether you decide to bring a child into the world or not, it’s important to keep in mind that dependents come in multiple forms. Many adults find themselves supporting their parents as they enter their later years. Some move them into their homes, while others help pay for home health care. If you find yourself caring for a family member, life insurance can help ensure your dependents are cared for in your absence.

Tying the Knot

When you tie the knot, your life insurance needs shift enormously. You’ve agreed to share each other’s financial responsibilities and support each other through the ups and the downs. Yet a staggering 35% of Americans express regret that their spouse doesn’t have a life insurance policy. Investing in life insurance offers the peace of mind that he/she is protected in the event of your untimely death.

Open a New Business

Once you become a business owner, you’re exposed to a whole new set of financial commitments. When embarking on such a major life change, it’s important to consider who is at risk were you to pass on unexpectedly. Many partnerships build life insurance into their business strategy, with the agreement that one would buy out the deceased owner’s share of the enterprise upon the co-owner’s death. This policy ensures your family, your business, and your employees are protected, should the unthinkable occur.

Change in Marriage Status

While no one enters into a marriage expecting it to end in divorce, many couples find themselves in a position where divorce is the most healthy option for everyone. Life insurance is an effective way for parents to ensure their children are cared for, even after they’re gone. This is particularly effective in situations where one parent pays child support to their ex, to assist in covering the day-to-day expenses of raising a child.

Estate Planning

Consumers who have an estate large enough to be taxed, either federally or on the state level, should consider the tax benefits of adding a life insurance policy to their portfolio. When set up properly, a life policy could help provide the funds needed to pay down estate tax bills. Many families are forced to sell assets to pay for outstanding medical bills, settlement costs, and estate taxes; a step that could be avoided with the proper life insurance coverage.

Always consult with a licensed insurance professional who can assist in the assessment of your current needs, as well any long-term risks and goals.

Purchasing life insurance is a means towards financial piece of mind. And, while few constantly dwell on an inevitable future, we all have considerations now and then about how things will be different after our departure. The events mentioned above, either joyous or more difficult, often cause a person to pause and think about where things are headed in their lives. If you are approaching one of the aforementioned events, or a similar life decision, this can be the perfect time to look into what it will take to purchase a life insurance plan. Contact an agent and see what they can do for you today.

Should I Purchase Life Insurance for My Child?

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Families have long debated whether or not life insurance for children is a worthy investment. Some advisors and agents believe it’s a smart financial move, while others believe the cons far outweigh the pros. The one point that most agree on – purchasing a life insurance policy for a child should be secondary to more critical investments. If you’ve built an adequate emergency fund, invested in a college fund for your child, have a solid retirement plan, and life insurance on yourself, then you can begin thinking about investing in a life policy for your child.

Let’s take a look at the pros and cons and let you decide for yourself.

Your Options

If you have a child under the age of eighteen, there are two types of policies you can purchase:

1) Rider on your own life insurance policy – When purchasing a term life policy for you or your spouse, ask your agent if the carrier offers a rider that would cover your minor child. This rider offers an affordable option for parents looking to buy a small term policy for their children. Coverage amounts are usually limited to $20,000 or less, with term limits of 10, 20, or 30 years.

2) Permanent policy – Your other option is to purchase a permanent policy on your minor child. While these policies are still typically for a small amount, it does extend the option for a little more in coverage. Policy coverage is generally limited to $50,000 or less, with coverage provided for a lifetime, or as long as the premium is paid.

Pros and Cons of Life Insurance for Children

Insurability for the Future

Pros: Many parents choose to purchase a life policy to protect their children later in life. Everything can change on a dime, and none of us really know what the future holds for us. Purchasing a permanent life policy can help protect against those unknowns, ensuring your child still has coverage, even if he/she is diagnosed with a serious disability or illness later on down the road. Not only does this ensure coverage later in life, it locks in the cost at a much lower rate. If your family history puts your child’s future insurability at risk, purchasing a life policy at a young age could prove beneficial.

Cons: While it’s impossible to know what the future will hold for your child, medically or otherwise, the chances of them becoming uninsurable are very small. Although family history will play a factor in insurability and premium, underwriters will also consider medical advances, making it easier to purchase a policy with chronic conditions such as diabetes and cancer. One should also remember that it’s very difficult to determine exactly how much coverage your child will need in the future.

Death Benefits

Pros: While your child doesn’t likely have any income to replace should they pass away, the death benefit is a great way to cover final expenses and any unpaid medical bills. With the proper rider, your child’s policy could even cover medical treatment prior to their passing.

Cons: If death benefits are your primary reason for considering a life policy for your child, there are more affordable ways to ensure these expenses are covered. Consider adding a rider to your own policy or, if this option isn’t available to you, consider purchasing a small, low-cost term policy instead. $10,000 should be enough to cover final expenses and the premium is much more affordable than a permanent policy.

Accumulated Cash Value

Pros: Unlike term insurance, permanent life policies accumulate tax-deferred cash value. This cash value can be used for future planning, such as a down payment on a new home or college tuition. For many, this is an effective way to help contribute to their child’s savings.

Cons: While many consumers find benefit in utilizing the cash value on a permanent life policy, there are some downsides as well. It’s important to keep in mind that policy loans and withdrawals will reduce the overall death benefit. A loan, coupled with annual policy fees, could potentially cause the policy to lapse, if not closely watched. If saving for your child’s future is your primary goal, consider purchasing a small term policy and putting the rest into a savings account. When properly managed, the savings account could yield higher results and offer you greater control over its assets.

Before You Buy

Before purchasing a life policy for your child, take a close look at your current financial situation and goals for the future. Meet with a trusted representative, who can help you paint the big picture, ensuring both your child and finances are protected.

Important Factors to Consider When Choosing A Funeral Home

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The last thing most of us want to think about is the inevitable mortality of ourselves and our loved ones. Death should be in the distant future, not a looming threat. Just the same, not a day goes by without someone finding themselves in a state of grief and shock over the untimely passing of a loved one. Although we shouldn’t fixate on such things, there are some necessary steps and questions to consider, when picking the proper funeral home and director. Furthermore, by getting an idea of the process, before actually needing the service, you will be able to approach the situation with some measure of reassurance in your judgement and decision-making process.

Reputation Speaks Volumes

When choosing which funeral home is the right one for you and your family, consider their years in business or overall experience, as a funeral home. Their reputation, both professionally within the industry, and on a personal level amongst past clients, has to be an important factor. The overall demeanor and reception from the director and staff will be critical, especially considering they will be seeing you or your family at a time when compassion and professionalism are definitely needed.

Fortunately, in our day and age of technology, much of this research can be conducted online. Reviews of past service experiences, as well as ratings from the Better Business Bureau, should be available for potential clients. Furthermore, beware of funeral homes that don’t have any history of service to share with the public. This type of business often bases its success on word of mouth from satisfied customers, so there should be reviews and client testimonies available online.

Research and Compare Pricing

When conducting your research, pay close attention to how each funeral service stacks up to their competition or industry standards. If a funeral service is much more expensive or considerably cheaper than most, be a bit more cautious. Overcharging can be distasteful, but doesn’t mean the service is bad. But a large price tag doesn’t mean the quality of service will be any better, either.

And remember the old adage of “you get what you pay for,” if the price is too low. Asking why a business is able to undercut the competition so much may lead to an understanding of the level of service you can expect. Either way, this is definitely not what you want to be thinking about in your time of need. All the more reason to conduct research ahead of time, when you’re able to think and act with clarity.

Religious Protocol and Additional Services

Another factor to consider – how capable is the funeral home in handling special needs, such as preparations within certain religious standards or practices. If you have specific rules or timeframes to honor, ask ahead of time and make it very clear what you expect and need from the funeral home.

Additionally, any amenities or facilities needed for a wake, viewing, or special ceremony should be discussed and clarified ahead of time, in order to avoid confusion or unwanted surprises.

Contracts and Payment Methods

Finally, it is important to be frank and avoid ambiguity concerning contracts for services and methods of payment for the services rendered. These conversations will be much easier when you can think rationally and can consider the many scenarios which can arise in the future. This will also help you gauge the professionalism of the funeral homes you’re considering. You may also be able to open a more personal line of communication with the director or service you choose, allowing for a more personal touch, when the time comes to call upon this business.

As stated from the onset, this is not the type of planning most people want to do. Even more so, when in an emotional state. Find piece of mind now, and save yourself some amount of grief later.

5 Steps to Take if Your Home or Business has Experienced Hurricane Damage

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Several regions of the United States are still trying to recover from recent hurricane damages, with seemingly no end in sight. With nearly two months left in hurricane season, we thought it appropriate to share some tips and advice regarding the appropriate steps to take after a loss.

Hurricanes Harvey, Irma, and Maria have left many homeless, causing devastation for anyone in their paths. Before Irma had even made landfall, Harvey’s damages were estimated at upwards of $180 billion, claiming the lives of 70 people. Unfortunately, many homeowners lacked the necessary flood insurance coverage, leaving them uninsured and unsure where to turn next.

Here are some tips for residents who have been affected by a hurricane or other natural disaster:

1) Assess and Document Damages

Once it is safe for you to return home, do so. Assess the damages and document everything, with either photos or video. Once damages have been recorded, take whatever measures are necessary to secure your home and safeguard against any further damages.

If your roof was damaged, place a tarp over it to prevent additional leaks. If rising water has caused flooding in your home, move personal property to safety and take measures to dry the area out. Keep records of time and money spent on these temporary repairs. Not only will this serve as proof that took action, many insurers will reimburse you for time and expenses.

Important: As part of the insurance contract, you are required to secure your home after a loss. Failure to do so could result in partial claim denial.

2) Notify Your Insurance Carrier Immediately

Gather all paperwork related to the loss and contact your insurance company or agent to submit a claim. If your area was hit particularly hard, this process could take some time. The insurance representatives are working tirelessly and are likely overwhelmed with the amount of work that requires their attention. Promptly replying to any questions and requests for documentation will help ensure you don’t find yourself at the bottom of your adjustors list.

3) Start a Claim Diary

Keep a diary of all important conversations, instructions, and contact information, regarding your claim. Make sure to include the date and time, name of the person you spoke with, and issues that were discussed.

4) Take Inventory

Take inventory of all your personal property that was damaged or lost due to the storm. If you had an inventory list already prepared, this will serve as a great tool and ensure nothing gets left out. If you have before pictures, provide before-and-after photos to your adjustor.

Check with your insurance adjustor before trashing damaged possessions. While proper protocol indicates you must show your claims representative the items before discarded, some local laws require immediate disposal for safety reasons.

5) Get Written Repair Estimates

While you are not authorized to order permanent repairs, it’s a good idea to get several written estimates from reputable contractors. Make sure each estimate includes an itemized list of materials used, prices, and labor costs.

As Florida residents, we understand all too well how stressful these situations can be. Following these five steps can help alleviate some pressure and help the entire claim process go smoothly. If you find you are not covered for some or all of your hurricane loss, the federal government may offer assistance. Visit DisasterAssistance.org for more information and to apply for aid.

Can I Get Life Insurance if I Have Diabetes?

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If you’ve been diagnosed with diabetes, you’ve probably always assumed an affordable life insurance policy isn’t an option for you. With over 29 million people in the United States (9.3%) now dealing with such a diagnosis, life insurance carriers have recognized the need for affordable options. Many have developed policies specifically geared towards diabetics, many with no exam required.

Let’s take a look at how your diabetes could affect your ability to obtain a policy and what, specifically, affects your rates.

How Does Diabetes Impact Life Insurance Rates?

As with any life insurance policy, the healthier you are, the lower your insurance costs will be. There are a number of factors that go into determining life insurance with diabetes rates.

  • If this is a recent diagnosis, the time to purchase a life policy is now. As time goes on, fluctuating blood sugar levels, as well as blood sugar medications, stand to harm your body.
  • Is your diabetes under control? Are you responding well to treatment? What healthy lifestyle changes have you made?
  • What type of medications are you currently taking?

While a type I diabetic taking insulin is considered more at risk than a type II diabetic taking oral medications or a diabetic controlling their blood sugar through diet, there are options for everyone. The key is to follow your healthcare provider’s treatment plan and remain diligent in controlling your blood sugar.

What Other Factors Might Influence My Rates?

If you’ve been diagnosed with other health conditions, in addition to diabetes, it could influence your ability to find an affordable life insurance policy.

Influencing health conditions include:

  • A history of smoking
  • Uncontrolled blood pressure
  • Uncontrolled cholesterol
  • History of heart disease
  • Kidney disease
  • Neuropathy, particularly in your extremities
  • Vascular disease
  • Obesity

What Aspects of My Diagnosis Will Affect My Eligibility and Rates the Most?

If your diabetes is not under control, underwriting will likely deny your application. Underwriting will also consider the following factors:

Your A1c level: Anything below 7.5 is considered good. Some underwriters, however, will accept an A1c level of up to 8.5.

Your fasting blood sugar level: While applicants with blood sugar levels of up to 180 are often considered, 140 and below is viewed as the ideal range. Some insurance companies consider fructosamine levels during the application process. Ideal levels are 1.5-2.5.

Current medications: What medications are you currently taking and how effective are they at controlling your levels? How well are you monitored by your physician?

Age of diagnosis: What age were you diagnosed? The older in life you were diagnosed, the more likely you are to qualify at an affordable rate.

What Can I Do to Get the Best Life Insurance Rates?

Your best bet is to identify insurance carriers that specialize in high risk policies or one that offers “clinical underwriting.” The “clinical underwriting” process looks at the full picture, evaluating your overall health, rather than focusing on specific health risk factors.

There are a number of insurance carriers that offer affordable policies. When you are ready to begin the process, consider working with a reputable insurance agent in your community. They’ve built professional relationships with each carrier. Their experience will offer invaluable insight into which carrier is the best fit for you and your unique situation. Disclose all details of your health history; surprises could lead to higher rates or, in some cases, policy denial. Most importantly, work daily to live a healthy lifestyle and control your blood sugar. Not only will this assist in finding the most affordable rates, it will ensure your life insurance policy isn’t needed in the near future.