Final Expense Insurance For Diabetics

Final Expense Insurance at a Diabetic Cost? 

Have you thought of applying for final expense insurance but think you might get declined because you are diabetic, have diabetic complications or have developed gestational diabetes?

Good news, you are eligible to purchase final expense insurance if you have any diabetic complications such as neuropathy, retinopathy, cardiovascular disease, insulin shock, nephropathy, or diabetic amputations.

Most importantly it is very important that as a diabetic you want to ensure that you do purchase final expense insurance in order to help pay with burial expenses such as funeral related expenses, burial, and other outstanding medical bills. 

According to the Centers for Disease Control and Prevention (CDC), among the United States population, estimates from 2018 report that 34.2 million of Americans develop Diabetes, that is almost 11% of our population. If you are one in 34.2 million Americans diagnosed with Diabetes, it may have been the most life changing event in your life, one in which you had to drastically change your eating habits, incorporate daily exercise, and in most cases, possibly start new medications. However, having diabetes does not imply you do not qualify for final expense insurance, on the contrary, you have options. 

Many Great Options To Consider

Whether your diabetes is controlled, under care or not, you can definitely lock in a final expense insurance policy. There are many options and companies that you will be able to choose from, many who will be able to immediately cover your burial expenses and secure your premiums at an affordable price. You are not alone if you ever thought that as a diabetic, you wouldn’t be able to find the right plan for you. 

When you are on your journey to find the right company, and the right plan that fits your needs, you will encounter many issues, however this does not mean you do not qualify. As different companies have different underwriting they simply want to know more about your diabetic history. Most often, Final Expense Insurance companies will ask some of the following questions, such as your current medications, if you have had any amputations due to diabetes? What type of diabetes were you diagnosed with (Type 1 or Type 2) if you have ever gone into insulin shock? If you had any Neuropathy, Retinopathy, or Nephropathy issues due to diabetes? And height and weight. These are all possible questions that you may be asked when you are applying or searching for the right final expense insurance policy. 

Available Plans Even For Those With Many Complications

Final expense insurance offers applicants an easier way to guarantee coverage with a Guaranteed Issued Policy. This policy is a great option for those who have uncontrolled diabetes and have diabetic complications mentioned previously. Your approval is guaranteed regardless of your medical condition. This type of policy requires no medical examinations, that is, it requires no physical exams, nor will you need any blood work or urine exams either. 

What you need to know about the Guaranteed Issued Policy is that it is easy to obtain, for either yourself or a loved one. The insurance company will ask no questions regarding yourself or the insured, therefore any history that you have had with diabetes, any complications, issues, or medications will not be needed by the insurance company for this type of policy. Of course,

because there are no questions being asked, the prices for these policies are typically higher than those that do require medical records. Also, you may want to know that with a Guaranteed Issued Policy, there is a waiting period of two years. This means that if the insured passes away within the two year waiting period, the policy will only pay out the premiums that were paid plus an additional percentage of interest. However, if the insured passes away after the two years of the policy’s effective date, the full death benefit will be paid to the beneficiary. 

Making Sure To Choose The Right Amount of Coverage

Once you are able to get approved for the insurance policy you need, while having diabetes, you may also need to know the amount of coverage you will need. The policy you buy, will have to cover all your cost for funeral related expenses. According to the National Funeral Directors Association a funeral and burial can cost an average of $7,630. Funerals and Burials are often the biggest expense your family will make in their lifetime. While they grieve for their loss, you will want to ensure that it is not a financial burden to them or at the very least lessen the amount of the burden so that they will not be as financially impacted if nothing had been done about it in advance.

As a diabetic, you want to ensure that you are covered, as death can be unexpected no matter how healthy or ill you are. When it comes to coverage, no matter if you have type 1, type 2 or have developed gestational diabetes during pregnancy, you can have the certainty that you will be able to be covered and qualify for a Final Expense Insurance policy. The best option for you, regardless if you have had any diabetic complications/issues, such as neuropathy, insulin shock, or retinopathy, to name a few, is that there will be a plan for you. As each company has different underwriting guidelines you may be surprised to even qualify for immediate coverage. Each person is different, and depending on the severity of their illness or the health of the applicant, both the policy and death benefit will vary as health and age are big factors in determining premiums. Therefore, when you are applying for final expense insurance you want to make sure to understand the severity of your diabetes. This information will help insurance companies provide you with the most accurate rates possible. Do not be discouraged if some companies turn you away, there are many out there that are diabetic friendly.