Life and Long-term Care Insurance Becoming Increasingly Available for Those With Type 1 Diabetes

| Dec 14, 2010

If you have type 1 diabetes, you know that the process of obtaining life insurance or long-term care insurance has been a long, tough road, most often leading to the dead end of declined coverage. In fact, most insurance companies have classified anyone with type 1 as an automatic decline, without any consideration of each case individually.

The reason? Type 1 is classified as a chronic condition that has traditionally been associated with more care as a person ages and with a shorter life expectancy. Consequently, many companies have been leery of providing even minimal insurance coverage. Long-term care insurance is especially difficult to obtain because it covers so much that standard medical insurance does not. It provides for the cost of long-term care over a predetermined period, including nursing homes, home care, assisted living, adult daycare, respite care, hospice care, nursing home care, and Alzheimer's facilities. It will pay for a visiting or live-in caregiver, companion, housekeeper, therapist, or private duty nurse up to seven days a week, 24 hours a day, up to the policy maximum. As many families have discovered, long-term care is expensive, and long-term care coverage has saved many a family who would not have had the resources to support an ailing loved one without it.

But as medications, blood glucose monitoring, and life expectancy have improved, so have your chances of obtaining both life insurance and long-term care insurance. Over the past two to three years, insurance carriers have begun reconsidering those with type 1 diabetes, and many have expanded underwriting guidelines for those who have the disease under control.

According to Danny Mensh, president of Mensh Insurance, the basic underwriting criteria for issuing policies to a person with type 1 diabetes may include the following: A1C less than 8%;  controlled weight; average fasting blood sugar less than 200; blood pressure less than 140/90; no transient ischemic attacks (TIAs) within the past five years; no smoking within the last two years; no cardiac complications or retinopathy associated with eye impairments; and no chronic steroid usage. All of this means that a road of financial responsibility and planning previously unavailable to people with type 1 diabetes is now open to be traveled.



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Categories: A1c Test, Blood Glucose, Blood Sugar, Diabetes, Diabetes, Health Insurance, Type 1 Issues

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Posted by lenrobbins on 14 December 2010

Having been an independent life insurance agent for over 20 years, I have seen an increasing ability for diabetics (both type 1 and 2) to obtain coverage at reasonable rates.
Lenny Robbins

Posted by Anonymous on 14 December 2010

I comply the criteria! Where can I get the insurance?
I need the CGM.

Posted by Anonymous on 15 December 2010

Not all companies follow the same underwriting criteria for Diabetes. Work with a local agent who knows which companies might use the more favorable criteria.

Richard F. O'Boyle, Jr., LUTCF, MBA
"Life Insurance for Diabetics"

Posted by MenshInsurance on 15 December 2010

Very well written article...glad to have helped provide useful information. let us know if we can help further.

Posted by LMWMediaMarket on 15 December 2010

Great article! Thanks for posting!

Posted by Anonymous on 17 December 2010

Yeah Right, well those requirements eliminate at least 90% if not more..

and who's to say, it won't follow in the foot steps of Met Life who is Pulling out of the LTC business?

Or they just Go broke...?

again, only for the rich as well..
that can afford to pay $5,000 yr for LTC and for many yrs prior to needing it.. and Guess what else? The Insurance Co.'s Do the Math and know 90% won't live long enough to use it..

Posted by MenshInsurance on 20 December 2010

First, let me say that this isn't "my insurance." Our organization has been independent for 40 years and represents all of the top carriers in the Life and LTC marketplace.

Secondly, we have had success with major household recognized carriers issuing Life and LTC Insurance to adults in their 30's and 40's with with Type 1 Diabetes who have been controlled for many years.

Lastly, unfortunately, poorly trained or mal-intentioned insurance agents must be showing LTC premiums at over $5000/year for a blanket statement to have been made in a previous comment. Depending upon one's age and what rate class they are approved for, we have seen annual premiums in the $1500-$2000 annual range for those in their 40's...we work with carriers who have been selling policies for over 30 years and do our best to help clients secure the best available plans. The fact remains, there is a great need for coverage, most are uninsured, many who CAN be insured believe they can't be, and we are simply trying to help educate and provide access to information. Let us know if we can help!

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