Today there are more than 100 million Americans that are living with some form of Diabetes or Pre-Diabetes. Personally, we all know someone living who is affected with the disease and sometimes this could be a struggle for some. The good news is that there are Americans who have control over managing their diabetes by taking the necessary medication to help maintain it. As some Americans worry about this disease, their overall health becomes a concern. They take a look holistically at the effects that could potentially interfere with their livelihood and lifestyle. Some are concerned with how this will affect their health insurance premiums as well as as being able to qualify for life insurance. Let’s take a deep dive into the world of what carriers are favorable to diabetics.
As independent agents we are familiar with companies and what they look for in underwriting with someone with diabetes. Some carriers are very particular with whom they take on the risk for. If you are young, your choices may be limited, whereas an older individual that has been affected by diabetes for a period of time and long enough; they have a idea on how to manage it. Life insurance carriers are somewhat forgiving in that if they are to see a history of good health along with dieting and exercising then the underwriters are going to reward the insured (with credits) with decent rates.
A company who specializes in the impairment approved several of our clients whom were in their early 30’s with gestational diabetes. Sometime this happens due to pregnancy issues. Individuals over the age of 50 had more options that we could choose from. Say like ANICO, Phoenix, Royal Neighbors just to name a few. Because of the history of the insured they are able to gain access to their medical records and/or receive information from their Primary care doctor to verify that it is under control. Let’s take a look at one carrier to establish the framework.
ANICO is listed as one of the top five carriers for Diabetics.
How ANICO Life Insurance Underwrites for Diabetes.
American National has been around offering insurance since 1905. It was one of Forbes 2017 America’s Most trustworthy financial companies and An AM Best A Rated carrier. As one of the carriers that does offer coverage to those who suffer from Diabetes their guidelines are pretty liberal. If you suffer from the disease more in particular Type II, you may be rated Standard to table 3 thru 8 depending on age of on-set and other factors (under age 30). You may be able to obtain Standard Plus if it’s one of their permanent policies. As long as there are good indicators of health factors to contribute to a healthy lifestyle such as low Blood Pressure, good lipids and build (height & weight) then this could certainly be an option to consider.
Medications that may affect life insurance rates for ANICO.
Most americans who are diabetic would be taking one of the following: Glipizide, Metformin Glimepirizide. There may be a statin drug such as Atorvastatin and an Insulin medications such as Humulin, Novolin, NovoLog and FlexPen. There are others on the market however these are the more common ones. If there are 2 or more medications taken for the condition then ratings can have an impact on the rates. The key is as long as they are controlled.
Types coverage with ANICO?
Anico offers term, Whole, Universal, Guaranteed Universal and Index Universal Life. They are known for their robust underwriting on their Xpress and Xpress Plus products, especially their non-medical type policies..
How to get Coverage with ANICO
Through their Noninvasive underwriting Xpress program, You would Complete an application, without the need for automatic calling for labs or Paramedicals. An Underwriting decision can be made within 72 hours with no additional requirements needed. ANICO Utilizes the MIB, MVR and Prescription Databases.
At Ron L. Reed and Associates, our mission is simple, “To be Clear, Concise and Conversational with our potential and current clients. Our values are People, Respect, Opportunity, Passion, Excellence and Loyalty.” Give us a call or get an instant life insurance quote by filling out the form to the right.