How to find the Best Final Expense Burial Insurance with Type 1 Diabetes?
How to find the Best Final Expense Insurance with Type 1 Diabetes?
Most often referred to as juvenile diabetes, type 1 diabetes is far less common than type 2. Actually, most type 1 diabetics are usually diagnosed prior to the age of 20. Type 1 diabetes makes your pancreas produce little to no insulin. While, with type 2 diabetes, your body becomes resistant to insulin or doesn’t make an adequate amount. Unfortunately, as of right now, there is no cure for type 1 diabetes. However, modern day medicine has produced many successful ways to maintain this disease.
It’s quite a challenge to find affordable final expense life insurance when you have diabetes. Especially when your diabetes is type 1. As an experienced agent, I’ve had quite a lot of conversations with type 1 diabetics that searched endlessly for burial insurance with little to no success. They usually can’t find an adequate solution because they either:
· Face decline
· They are offered extremely high prices
· Or they are modified or graded plans which include minimum 2 year waiting periods
When having type 1 diabetes, navigating the burial insurance waters can be tricky. With that, my intent behind this article is to clear up this matter. I am going to show you exactly how insurers respond to type 1 diabetes, the options you have, and how you can find the best insurance policy. Basically, I am pouring my experiences and hours of research into this one article for you. You will not find a more comprehensive burial insurance guide online for type 1 diabetes.
Learn More About Final Expense Burial Insurance
So What’s The Deal With Type 1 Diabetes?
In essence, there are insurance companies that are fine with this disease and there are some that are not. But the reality is that you can absolutely find an affordable burial insurance policy even if you have type 1 diabetes.
The secret is to find the final expense carriers that either:
· Don’t care about people having type 1 diabetes
· Their application process doesn’t apply to their current situation.
You have to remember that an application for burial insurance does not require a medical exam of any kind to qualify. So for this reason, we would only consider insurance companies that care very little about type 1 diabetes.
How do you find these insurance companies you ask? You have to talk to an experienced independent agent, like myself, that specializes in burial insurance. The reason why you would only want to talk to an independent agent is because we usually have 10+ carriers that can offer the customer the lowest price for their current situation. In this case is having type 1 diabetes.
How Burial Insurance Companies react to Type 1 Diabetes
Like most health conditions, final expense companies can respond in one of the following three actions:
· They will decline you
· They will charge you a higher premium and impose a partial or full waiting period
· They will do nothing because they are perfectly fine with type 1 diabetes
It’s important to keep in mind that each insurance company will respond differently. In most cases, the majority of final expense companies will not accept applicants with type 1 diabetes. Unfortunately, this is just a risk that most insurance companies are not willing to accept. However, there are insurance companies that are just fine with it.
How Insurance Companies ask about Type 1 Diabetes
Usually, final expense companies don’t ask about type 1 diabetes. What I mean is they don’t actually use the words “type 1 diabetes” in their health questionnaires. Instead, they will usually have questions about being diagnosed with diabetes at a certain age. For example, it’s very common for burial insurance companies to ask if you were diagnosed with diabetes, or were taking insulin, prior to the age of 50/40/30/etc. Every final expense carrier differ when it comes to age.
Another common question is usually asked is if the insured has had insulin shock, diabetic coma, amputation caused by diabetes, or asked if they have been taking insulin? This indicates that the insured is a type 1 diabetic.
Lastly they usually ask if the insured has been diagnosed for diabetic neuropathy. Diabetic neuropathy is a type of nerve damage most likely caused by diabetes. Having high blood sugar or glucose can injure the nerves throughout the body. Diabetic neuropathy most often damages nerves in the legs and feet, a common battle for people with diabetes.
These are the most common ways final expense companies ask if a person is a type 1 diabetic.
What Medications Insurance Companies Look For?
The application health questions are their principal source of underwriting for every insurer. In addition, virtually all insurance companies will run a history of prescribed prescriptions. In a nutshell, they will electronically scan your entire medication history as a means to diagnose what health conditions you may currently have. This is a common practice with most insurance companies out there.
Although, with type 1 diabetes, they will be on lookout for certain medications and the amount of units of insulin is taken. The data, along with your date of birth, will tell them if you had diabetes prior to an age they may not be okay with. Here are some of the most common medications they will be checking for:
· Afrezza
· Apidra
· FlexPen
· Humalog
· Humulin
· Humulin N
· Lantus
· Levemir
· Novolin
· NovoLog
· Symlin
· Tresiba
There may be other medications available, but these are the most common drugs they will be on the lookout for. If they see you were taking these medications at ages they are not okay with…they will not respond favorably.
What is the Best Burial Insurance for Type 1 Diabetics?
So now you know what insurance companies look for, how they ask about it, and how they will respond to it. By now, you must be wondering how you can find the best final expense policy for a type 1 diabetic. It’s actually quite simple and won’t require a lot of work on your behalf. However, we need to clearly identify what constitutes a policy to be the best burial insurance for a type 1 diabetic.
The best insurance plan is simply:
· the one that costs the least amount of premium for the most amount of coverage
· goes into effect as soon as possible with no waiting periods
· A policy you can afford to have
Nothing more and nothing less. Very simple.
Now that we know what makes the best policy one can have, let’s talk about what to look for.
At the end of the day, what you need to look for is a final expense insurance policy that does not link diabetes or insulin usage to an age. Ideally, you want a plan that mentions no diabetic age whatsoever.
If the insurance company does not mention an age when they ask about these things…it means that they don’t care. It’s only an issue if the insurer specifically mentions an age when they ask about diabetes or insulin usage.
There are burial insurance companies that do not ask about having diabetes/insulin usage prior to a certain age. In addition, there are also carriers that have various diabetic age limits as well. And these might be sufficient too. For example, let’s say you’re starting to take insulin at age 35. All the carriers that ask about insulin usage prior to 30 would be great to consider. Since you were 35, you would answer “no” to any of the questions that ask about insulin usage prior to age 30.
Here’s where it gets a bit tricky.
Now that you know what to look for in a final expense plan, the question is…which insurance company matches this profile?
It’s at this point where we start getting the wheels in motion. Pin pointing which exact insurance company to go with is something quite hard to suggest. In reality, it could be one of many different insurance carriers. And on top of that…you alone cannot find these companies.
This may sound off putting at first, but there is a very good reason why I say this. First, there are a lot of insurance companies out there that you may have never heard of. They are not on TV or in magazines, so their company name may not be familiar to you. They are still very trustworthy and reputable companies. They just don’t have a business model that involves advertising. Because they do not get into the game of mass media advertising…these are the companies where you will find your best plan. The only way you will know of their existence, not to mention find them, is when you deal with an independent agent like myself.
You may have already picked up on this…If not, I will make this very clear for you.
To find the best burial insurance with type 1 diabetes, you have to rely on the professional services of a highly experienced independent agent that partners with lots of insurance companies in your state. Ultimately, your broker will compare plans from each insurance carrier in your state to identify which ones are most accepting of your type 1 diabetes. Then it’s just a matter of choosing which of those charges the least.
But do you know the benefits you’ll receive when you shop around a final expense plan with an independent agent?
First things first, it won’t cost you a thing. Your insurance will cost the same amount as it would if you were to shop around with anyone else. There is literally nothing to lose by working with a broker like myself. When you think about it, working with an agent like myself is just like walking through a burial insurance mall. Instead of you walking around comparing prices…I do all the leg work for you. Not to mention, you tap into my vast experience dealing with all these insurance companies. Many times, I have gotten the best rate for a type 1 diabetic so I know how each insurance company will respond. More often I can clearly determine which carrier would be the best for you after just speaking with you for few minutes.
All things considered, we would identify all the burial insurance companies that do not ask about age when they ask about diabetes. That will produce a small number of companies to select from. From there, it’s just a matter of choosing which one is going to offer you the lowest price for the coverage amount you seek.
In Conclusion
Clearly, this article is about type 1 diabetes and getting burial insurance coverage in spite of this condition. It’s important to remember that type 1 diabetes is just one piece of an overall puzzle. Every burial insurance plan will ask about a variety of health issues. The goal for us is to find you an insurance company that views your health the best for all of your conditions. That will be the best final expense insurance company for you.
I tell you this because there are certain companies that are very friendly to type 1 diabetics. With that, you could have other health conditions that hinder your chances. This is why it’s important to speak with a professional or with me. I need to know more details about your entire health profile so I can properly recommend the right insurance company for you.