No Exam Life Insurance for Diabetics

No Exam Life Insurance for Diabetics

Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s the best safety nets that you could ever invest in. When you’re shopping for life insurance, there are dozens and dozens of different factors that you’ll need to compare.

One option for life insurance is to purchase a no exam plan. These policies allow you to get life insurance coverage without having to take the medical exam. These no exam plans are an excellent option for a lot of people, but they are a specialized type of coverage that doesn’t work well for some people.

As an applicant with diabetes, it’s important that you find the best possible plan. You might have been told that you won’t be able to find affordable life insurance because of your pre-existing condition. That couldn’t be further from the truth. Regardless of your health or any conditions that you have, it’s possible to get quality insurance at a lower price.

No Exam Life Insurance

no medical exam insurance for diabeticsThere are several different kinds of life insurance plans that you will need to compare before you purchase coverage. Each type of plan has its advantages and disadvantages. This article is going to explore no exam life insurance plans for applicants with type 1 diabetes or type 2.

One of the most notable benefits of these no exam plans is how quickly you can get approved for life insurance protection. With a traditional insurance plan, you have to wait for the insurance company to schedule the medical exam, get the results from the exam, and then review those results based on their medical underwriting. The whole process could take up to a month. With a no exam plan, on the other hand, you can get approved for life insurance in a matter of days. If you want to get life insurance as quickly as possible, then a no exam plan is going to be the best option.

Another benefit of these plans is that your current health won’t impact how much you pay for your coverage. If your health has declined since the last time that you’ve gone to the doctor, then the insurance company is going to charge you more for life insurance protection, but with a no exam plan, they won’t get an idea of your current health.

The Cons of No Exam Life Insurance for Diabetics

On the other side of the coin, there are several drawbacks to these plans that you should take note of when you’re shopping for insurance protection. It’s essential that you realize what the disadvantages of these plans are to ensure that you’re getting the best plan out there.

The most significant pitfall of these policies is that they are going to be significantly more expensive than a traditional policy with a medical exam. The purpose of the medical exam is to give the insurance company an idea of how much risk that you are to accept for coverage. Without the information, the insurance company is taking a much greater risk, and they are going to offset that by charging you drastically higher premiums. If you want to get the cheapest insurance coverage as an applicant with type 1 or type 2 diabetes, then you will need to apply for a traditional policy.

Another potential disadvantage to these plans is that you’re going to be limited to the amount of life insurance that you can buy. Most no exam insurance companies are going to let you purchase around $250,000, with some companies letting you get a max of $500,000 worth of protection. For most families, this isn’t going to be enough insurance coverage. It’s vital that your family has enough money if something tragic were to happen to you. Before you purchase one of these plans, you will need to determine what your life insurance needs are.

If you think that a no exam life insurance policy is your only option because of your diabetes, you couldn’t be more wrong. There are plenty of life insurance companies on the market that specialize in working with high-risk applicants with diabetes. These companies have much more experience working with diabetes, and these companies are going to accept you for more affordable coverage.

Finding the Best Life Insurance Company for People with Diabetes

There are hundreds and hundreds of companies on the market, and all of them are going to give you different rates depending on their medical underwriting and rating system. Finding the perfect company is the difference in getting an affordable life insurance policy or getting one that is hundreds of dollars more expensive. Your quotes are going to vary drastically depending on which company that you get the quote from.

Instead of wasting hours and hours to contact all of those companies, let one of our independent insurance brokers do all of that hard work for you. Unlike a traditional insurance agent, our independent insurance agents work with dozens and dozens of highly rated companies across the nation. Our agents can bring you quotes from the best insurance companies for people with diabetes. We know which companies are going to give you the best plan to meet your needs.

Because no exam plans don’t require a medical exam, and the insurance company is getting a lot less information about you, the quotes between companies could vary drastically. No exam plans are going to vary more than a traditional plan. It’s easy to see why it’s so important to compare dozens of plans before choosing one.

Getting Cheaper Life Insurance for Diabetics

While no exam life insurance is not going to be the cheapest option for coverage, there are some ways that you can lower your insurance rates. Making a couple of changes can save you thousands and thousands of dollars every year. We already mentioned working with an independent insurance agent, but that’s not the only thing that you can do when you’re shopping for insurance protection.

The first thing that you should do when you are looking for cheap coverage is to apply for a plan that requires a medical exam. Taking a medical exam might be annoying, but it can save you hundreds and hundreds of dollars every year. In addition, you should work to improve your overall health before you apply for one of these plans. Taking a medical exam, and getting good results from that exam can help you get drastically lower premiums. As a diabetic, one good way to do that is to manage your condition and control your blood sugar levels. You can do this by sticking to a healthy diet and getting regular exercise. Not only will that help you manage your glucose levels, but it will also help you lose weight and reduce your risks of being diagnosed with other severe health complications.

Another way to save money is to cut out any tobacco that you currently use. If you’re a smoker or you use chewing tobacco, then you should expect to get drastically higher premiums for your life insurance coverage. Before you apply for life insurance, quit your bad habits. If you smoke, you’re going to pay at least twice as much for your insurance coverage versus what you would pay if you didn’t smoke. With some companies, you will pay three times as much for your life insurance protection. Kicking those bad habits will save you thousands and thousands of dollars throughout your loan.

No Exam Life Insurance for Diabetics

You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance coverage, then your family would be responsible for a massive amount of debt and other final expenses. Don’t wait another day to get the coverage that your family deserves.

If you have any questions about getting no exam life insurance with diabetes or questions about the options available to you, please contact one of our experienced agents today. We would love to answer those questions and connect you with the best possible plan for you and your family. We know that shopping for life insurance is never a fun task, but it’s one of the most important things that you can do.

Regardless of your health or your diabetes condition, we can give you an affordable life insurance policy. If you’ve ever been told that you can’t get a cheap life insurance policy, don’t believe it.

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