Burial Insurance For Diabetics
Burial insurance for diabetics is available today! You can get low-cost affordable burial insurance with diabetes. There are several companies that offer quality burial insurance for diabetics with an easy-approval process.
It all depends on the severity of your diabetes and if you have other health conditions. However, before we go any further, let’s briefly discuss what is burial insurance so you have a clear understanding.
What Is Burial Insurance
Now burial insurance, which is properly called “final expense life insurance,” is a small whole life policy intended to cover end of life expenses. Coverage amounts typically range from $2,500-$50,000 in coverage. There are no medical exams or need for blood and urines samples when you apply.
Burial Insurance offers an easy-approval process where you will know if you are approved immediately or in a matter of days.
It also one of the best options when planning to cover funeral and burial expenses. It offers low-cost affordable rates that work well even for someone on a fixed income!
Now burial insurance for diabetics may offer three different types of coverage – first day coverage, modified coverage, and guaranteed issue.
With first day coverage, your loved ones can receive the death benefit from the day the policy is inforce.
On the other hand, modified coverage offers a 2-year waiting period with partial benefits being available after year 1 and full benefits available after year 2.
Guaranteed issue coverage typically has a 2-year waiting period with a return of premium in the first two years and full benefits available after year 2.
If you are applying for burial insurance for diabetics, the type of coverage you receive will be based on your health and the company you choose.
That’s why its important to know what your available options are first before you make any decisions! Nevertheless, as a diabetic looking for burial insurance coverage, you have many options available to you.
Newsflash: Diabetes Is Quite Common!
By definition, diabetes is a chronic condition caused by insulin deficiency associated with abnormally high levels of sugar (glucose) in the blood.
Unfortunately, having diabetes is common in today’s world. Research shows 1 in 4 adults over the age of 65 are affected with diabetes.
That being said, you are not alone if you are looking for burial insurance for diabetics and I am here to help.
The final expense insurance companies know diabetes is quite common.
Therefore, when someone is applying for burial insurance as a diabetic, there several factors the insurance company will consider.
For example, the insurance company will consider factors such as the type of diabetes, insulin usage, A1C levels, etc.
Therefore, let’s discuss some of the factors so you may see what are your options for burial insurance when you have diabetes.
Burial Insurance for Diabetics – Type 1 & Type 2 Diabetes
Type 1 Diabetes
If you are considering applying for burial insurance, it is important to identify if you have Type 1 or Type 2 Diabetes. First lets start with burial insurance for diabetics who have Type 1 diabetes.
Type 1 diabetes makes you insulin dependent and generally occurs in your childhood. This form of diabetes is also called juvenile diabetes.
Type 1 diabetes occurs when your immune system attacks cells in the pancreas that are responsible for making insulin.
This form of diabetes only accounts for 5% of individuals with diabetes.
That being said, if you have type 1 diabetes, your chances of getting burial insurance coverage are lower but not impossible.
Insurance applications often if you were insulin dependent prior to age 50. If that is the case, you become ineligible for first day burial insurance coverage.
However, you likely may end up with modified coverage (2-year waiting period with partial benefits) or a guaranteed issue policy (2 year waiting period). We will discuss these types of policies later.
Next is burial insurance for diabetics who have Type 2 diabetes.
Type 2 Diabetes
Now according to the National Institute of Diabetes and Digestive and Kidney Disease, Type 2 diabetes is the most common form of diabetes.
With type 2 diabetes your body does not use insulin properly and is often referred to as being “insulin resistant.”
Type 2 diabetes can generally occur at any stage in life. However it is often seen in middle-age adults or adults age 65 and older.
Now there are several factors underwriters consider when underwriting an application for someone with type 2 diabetes.
They will consider if your diabetes is under control with current treatment and if there are health complications due to diabetes.
Let’s explore some of these underwriting considerations in more detail.
Underwriting Considerations Related To Diabetes
1. Diabetes Under Control or Not Under Control
One factor underwriters consider for burial insurance for diabetics is whether or not your diabetes is under control with treatment.
A measurement of your blood glucose levels and your A1c values can normally tell if your diabetes is under control.
Glycosylated Hemoglobin (HbA1c) is the gold standard in determining diabetic control and should be less than or equal to 7.5. This should be measured every six months. If HbA1c is not available, your Fasting Blood Sugar (FBS) should be less than or equal to 150.
Readings over these ranges indicate that your diabetes is not under control with current treatment.
Some burial insurance applications ask about your A1c levels so this is important.
Underwriters are also concerned if you have experienced insulin shock or a diabetic coma.
Insulin shock is when your blood sugar levels have fallen dangerously low. A diabetic coma is when you pass out due to either dangerously high or dangerously low blood sugar.
Both insulin shock and a diabetic coma are related to your diabetes not being under control. Many burial insurance applications ask if you’ve recently been diagnosed with either health condition.
Therefore, it is important for you that your diabetes are under control with current treatment. If your diabetes is not under control, you may still qualify for a burial insurance policy.
However, it would most likely be issued with modified coverage (2-year waiting period with partial death benefit).
2. Favorable Build
Now there is a link between diabetes and being overweight or obese. Being overweight or obese can contribute to insulin resistance. Also, your risk for heart disease can increase if you are both overweight or obese and diabetic.
Therefore, when considering burial insurance for diabetics, underwriters will determine what is called your “Body Mass Index” or “BMI.”
BMI is a measure of your body fat based on your height and weight. Using tools such as a BMI table, underwriters can determine an estimation of your body fat and determine if you are overweight or obese.
Now many insurance carriers allow for pre-screening of your height and weight before you apply for coverage.
This helps you to avoid a possible declination from the insurance company if you have high body fat based on their BMI tables.
That’s why it is important to have a favorable build or body mass index, especially for diabetic applicants.
Nevertheless however, it may still be possible to obtain burial insurance for diabetics who are overweight or obese.
3. Complications Due To Diabetes
If you are considering burial insurance for diabetics, you must also consider if you may have had any complications of diabetes. Complications of diabetes includes but is not limited to:
- Retinopathy – damage to the blood vessels in the tissue at the back of the eye or the retina
- Nephropathy – damage to blood vessels and other cells in your kidneys
- Neuropathy – damage to nerves in the body often occurring in the legs and feet
If you have complications of diabetes, you may disqualified from burial insurance policies with first day coverage. However, you may still be able to qualify for modified coverage (2-year waiting period with partial death benefit).
In addition, to the factors listed above, underwriters also consider if you have any history of coexisting conditions. It would benefit a diabetic applicant if they have no coexisting conditions such as:
- Chronic Obstructive Pulmonary Disease (COPD)
- Heart Attack(s)
- Atrial Fibrillation
- Kidney Disease
This list is not exhaustive and may vary depending on what company you apply to for insurance. Nevertheless no history of coexisting conditions is good for your approval chances!
Cost of Burial Insurance For Diabetics
Believe it or not, the cost of burial insurance for diabetics is quite affordable.
If you have no other health conditions, your diabetes are under control with current treatment, and the onset of your insulin usage was after age 50, here are some non-tobacco rates for different coverage amounts:
Sample Burial Insurance Rates
These are fantastic rates and are quite affordable even if you are on a fixed income! Also, don’t forget burial insurance for diabetics can also offer an easy approval process when you apply for coverage.
Don’t be misinformed and apply with the wrong company and get sky-high rates
Your best option to get these great rates and to find the right companies that offer an easy approval process is to work with an experienced agent.
Work With An Experienced Insurance Agent Today!
With underwriters considering so many variables regarding your diabetes, it would be best to work with an experienced insurance agent. An experienced insurance agent will be able to guide you to the best companies that offer burial insurance for diabetics.
Also, an experienced agent can pre-qualify you before you apply for coverage. This will help you to avoid being denied coverage now and in the future.
That being said, if you are looking for an experienced agent, I will raise my hand! I am more than happy to assist you with getting the coverage you deserve!
I have over a decades worth of experiencing working with folks just like you and I am licensed to sell insurance across the USA!
So start by getting a FREE quote for burial insurance for diabetics below!