A concern many share in regards to purchasing a life insurance policy is health. Because health does play a significant factor in acquiring a life insurance policy, people are worried their current health, as well as their medical history, may hinder their ability to get life insurance. One condition in particular that people often ask about is diabetes. Criss Crombie, the life and financial expert, explains the circumstances in which diabetes can affect a life insurance policy acquisition. Check out his video below!
Not everyone eats as healthily as they should or lives an active lifestyle. As a result, there are many people in America who struggle with weight issues. Oftentimes, those with unhealthy lifestyles are diabetic or pre-diabetic. Because this is becoming more common, underwriters for life insurance companies now check for a history of diabetes. In addition, they look for significant weight gain. They need to know your medical history so they will do a blood and urine test. More specifically, they’re going to look at your A1C numbers to see if you’re pre-diabetic. Ultimately, they want to know if you’re under control or not.
In the end, if you have diabetes and you’re under control with no significant weight issue, then you may still qualify for life insurance. You should receive coverage that’s not too expensive. On the other hand, for those who have diabetes and serious weight issues, there are two outcomes. To start, the underwriters may decline your application. However, they may approve your application, but it may be heavily rated. Now with that being said, we do get coverage for people with diabetes on a regular basis if it’s under control.
Since insurance is oftentimes overwhelmingly confusing, we want to shed light on this industry by answering YOUR questions. So if you have any questions or concerns, comment below and your question may be the topic of our next video!
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