As a mother to a child with juvenile diabetes, I know the frustrations that go along with managing blood sugars as well as the concerns that arise when shopping for life insurance for a diabetic.
Parents of children with juvenile diabetes want to make sure that their child can get a life insurance policy that will be there through their adult years. Once you mention the word diabetes and juvenile onset, the opportunities narrow greatly.
For years the insurance industry has completely closed the door on insuring children with type 1 diabetes.
This issue is twofold. There are many companies that simply do not insure children under the age of 18, and many more companies that will not insure type 1 diabetics – when you put that combination together, you have a challenging time getting an affordable and adequate policy for someone with juvenile diabetes.
If you’ve ever been told that you can’t get life insurance because of a diabetes diagnosis, don’t believe. Regardless of your health condition, there are several options that you can choose from to get insurance coverage for you and your family. Life insurance is one of the best investments that you’ll ever make for your loved ones. It’s the best way to ensure that your loved ones will have the money that they need, regardless of what happens to you.
Why Many Companies Simply Don’t Insure Juvenile Diabetes
Juvenile diabetes, also referred to as juvenile onset type 1, is a condition where the pancreas no longer produces insulin. It is often diagnosed in the early childhood years, hence the the name juvenile diabetes.
This type of diabetes causes great concern for life insurance underwriters because they don’t know much about the disease and there isn’t enough data for underwriters to use regarding the mortality rate of those with juvenile diabetes .
Although there have been many advancements in the control of juvenile diabetes, which include technology like insulin pumps, cams, and better insulin, underwriting standards have not kept up with these changes.
While there used to be zero companies that would insure juvenile onset diabetes, there is a very small window of opportunity to find companies that will offer coverage now. Hopefully this window will get bigger as time goes.
Scenarios For Possible Approvals
Although it is still tricky to find a life insurance policy with juvenile onset diabetes, there are companies that offer coverage, based on a strict set of parameters that differs based on the company.
Here are a few scenarios with recent approvals:
- There are only one or two life insurance companies that will approve children with juvenile diabetes under the age of 18 and have no complications. (Instant Approval ! No exam, and No Medical Records Required)
- A few Insurance companies will approve those diagnosed with Juvenile Diabetes after age 5 and currently over 18 years old. (Exam, and Medical Records Could Be Required)
- Most companies will approve an adult with Type 1 Diabetes over 18 years old who was diagnosed in their teens that has shown good controll. (Exam, and Medical Records Could Be Required)
Non-Med Life Insurance For Type 1 Diabetics
When applying for Life insurance with juvenile diabetes and a child will be the insured, it WILL NOT require an exam, or medical records. In addition, because they are under the age of 18, the juvenile diabetic will not have to fill out, or sign any paperwork. Usually the parents or grandparents of the child will fill out the application and sign as owners of the policy.
These scenarios show a tremendous improvement in the life insurance landscape with approvals for juvenile onset diabetes, though there are still only a few companies that will insure an applicant with juvenile diabetes if they are still a child.
Any life insurance policy that doesn’t require a medical exam could be an excellent option for anyone with type 1 diabetes. There are several different kinds of plans that fit into this category, there is the normal no exam plan and a guaranteed issue life insurance plan. Both of them have different advantages and disadvantages that you’ll need to consider based on your life insurance needs. Our agents can walk you through the process of deciding which is best for you.
What Else You Need To Know For Approval
If you fall into one of the categories above – great! That is the first step in the hunt to find life insurance with juvenile diabetes. Once you have some leeway to get your foot into the door, you have to consider what life insurance underwriters are going to look at it when they determine your risk class and whether or not to insure your specific case.
4 Things We Will Need to Know
- What is your A1C? This measures your long-term blood sugar control. The lower the number the better. 7.0 is typically preferred.
- How much Insulin is required to maintain good control?
- Do you have any complications?
- How old were you when you were diagnosed with juvenile diabetes?
One of the reasons it is challenging to get insured with juvenile diabetes is because statistics show that poor blood sugar control leads to kidney damage, heart disease, strokes, neuropathy and more. The better you control your blood sugars, the less likely you are to suffer with complications.Other factors that are standard to a life insurance review will be considered as well. This includes your height / weight, blood pressure, cholesterol levels, and whether or not you smoke.
The bottom line is that insurance underwriters want to know the long-term risk that you pose the company so the biggest question is do you manage your diabetes or do you have poor control?
The next thing that you should do is start getting regular exercise. Physical activity is an excellent way to improve your overall health by helping you lose weight, lower your blood pressure, lower your glucose levels, and reduce your risk of being diagnosed with other health complications. As a type 1 diabetic, you should always talk to your doctor before beginning any exercise program, but it could have a huge impact on your overall health as well as your wallet.
Work With An Experienced Independent Agent
If you have a child with juvenile diabetes or if you are an adult with Type 1 diabetes or are a type 2 diabetic, it is essential that you do your research. This includes working with an experienced insurance professional for your life insurance needs. After all they will be more familiar with what companies are Diabetic friendly for juvenile diabetes, and what companies to completely avoid. You want to keep “declines” off of your record with the Medical Information Bureau (MIB). This is the record that all insurers check when reviewing a life insurance application to check medical history, prescription history, as well as any denials of insurance. If you have a denial or several, an underwriter will be concerned and want to know why.
Every insurance company is different, and there are some companies that have more experience working with applicants with diabetes. These companies specialize in working with people with diabetes and they are going to give you better rates for your life insurance coverage. It’s vital that you find the best company to meet your needs. Because there are thousands of companies on the market, you could spend weeks looking for the best plan for you, instead let our agents do all of the hard work for you.
Because you never know what life is going to throw at you tomorrow, you shouldn’t wait another day to get the insurance coverage that your family will need if something tragic were to happen to you. If you’re looking for life insurance for yourself or someone else with type 1 diabetes, please contact one of our agents today. We know that it can seem like an impossible task, but our agents are here to help. We work with dozens of highly rated companies across the nation, and we know which companies are going to give you quality coverage at an affordable price. We can walk you through the process and make it as stress-free as possible.
If you have any questions about getting life insurance with type 1 diabetes or the different options available to you, please contact one of our agents today. We would be happy to answer those questions and connect you with the best available plan to meet your needs. Contact one of our agents today and we can get the process started.