Life insurance rates and premiums can vary greatly depending on a variety of factors, including age and health. In most cases, a serious health condition will make it difficult for insurers to provide coverage for an individual. However, a major life insurance company says that is changing.
"Many people who in the past have been declined life insurance and long-term care insurance solely on the basis of their type 1 diabetes diagnosis are now seeing some of the barriers come down," says Danny Mensh, a representative from the insurance provider. "Under certain circumstances, several major carriers are now willing to underwrite and issue both long-term care insurance and term life insurance policies."
In a statement, the insurance provider says most people with the condition are in stable health which can be verified with an insurer through medical records.
People with type 2 diabetes may also be subject to more critical analysis when applying for life insurance. However, unlike type 1, type 2 diabetes can frequently be prevented through diet and adequate exercise. Eating right and staying active are correlated with better overall health.