Diabetes is a life insurance for diabetics type 1 condition that requires strict, regular monitoring to maintain optimal health. But it shouldn’t prevent you from buying life insurance to provide your loved ones with a financial safety net if something were to happen to you. The good news is, you’ll have more options than you might think when it comes to getting coverage — even with type 2 diabetes, which typically becomes diagnosed in adulthood.
The key is finding a quality life insurance agency with experience working with diabetics and understanding the unique challenges of the industry. You’ll also want to make sure you take steps to improve your health and make yourself appear less of a risk to the insurance company, which can help you get better rates.
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Life insurance companies will consider a number of factors when assessing your eligibility for life insurance, including your age, overall health, and the way you manage your condition. They’ll also look at your medical history and your blood sugar levels, as well as other health complications that you might have, like high cholesterol or heart disease.
Term life insurance is the most popular option, offering coverage for a predetermined period of time (typically 10 or 40 years) at a relatively affordable rate. You can add a riders to your policy that can enhance it with benefits like an accelerated death benefit. Or you can choose a permanent policy, such as whole life insurance, in which part of your premium goes into building cash value.