How Can Diabetic Seniors Qualify For Life Insurance

Being diagnosed with diabetes at any point in your life is stressful. However, now we know that some insurance companies have updated their policies to cover seniors who have been diagnosed with diabetes.

Do Your Research

It is now possible to find an insurance company that will offer plans to seniors with diabetes at the same rate they would charge seniors without diabetes. While these rates vary due to factors such as the person’s age and the age they were when they were diagnosed with diabetes, rates are affordable for most senior citizens.

AARP Membership

Members of AARP are often qualified to receive diabetic life insurance. Many times, Medicare will not pay for diabetes care for senior citizens and this is where being an AARP member comes in handy. The “Medicare Complete” program offered by AARP does cover pre-existing conditions, including diabetes. For certain AARP members, enrolling in this program is free. Those applying for these programs that have diabetes are not subject to limitations concerning provided coverage.

Manage Your Diabetes

To qualify for life insurance coverage as a diabetic you must have your condition under control. If you have other risk factors, such as high blood pressure you cannot control you may not qualify for life insurance coverage. You may also be disqualified if you are diabetic and are severely overweight or you smoke. If you do qualify for life insurance you may have to pay extra fees due to your diabetes. This extra fee can end up being a flat extra premium, which usually involves paying as much as an extra $1,000 a month for insurance coverage.

Improve Your Condition

If your diabetes improves somewhat after you have paid for life insurance as a diabetic you may be able to get your rates lowered in some cases. Your best bet is to call your insurance company.

If you have either Type One Diabetes or Type Two Diabetes who can apply for whole, universal, variable and term life insurance. In most cases term life insurance for diabetic seniors is your best bet for becoming completely insured. Term life insurance will last a predetermined amount of time and will allow you to borrow cash against your insurance policy if you need it.

Though it may be more difficult it is possible to qualify for life insurance if you are a diabetic senior.

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