Applying for life insurance with a pre-existing condition such as diabetes can be a frustrating and invasive experience. Requests for medical records, biometric screenings, and the endless follow up questions from the insurance company are but a few of the common pain points. Unfortunately, even after cooperating fully with the process, the applicant receives a letter notifying them that they have been declined.
But, there is hope. While many traditional life insurance companies turn away diabetics, there are now companies that specialize in underwriting this condition. They understand that many diabetics are otherwise healthy and taking steps to responsibly manage their condition thereby leading to longer, healthier lives.
Furthermore, many of these "special risk" insurance companies have removed the traditional pain points by offering their life insurance policies on a simplified issue basis. This means that a medical exam or biometric screening is not required. Instead, applicants answer between 10-15 medical questions. The life insurance is approved or declined based upon the answers. A response is received in a matter of days not months.
Finally, it is important to work with an experienced life insurance agent who specializes in pre-existing conditions. Many of the radio and TV ads related to life insurance are targerted to those who have no pre-existing conditions whatsoever. If you are a resident of Delaware, Pennsylvania, or Maryland and would like more information or would like to request free, no-obligation quotes, you can submit a quote request by cliking this link: https://www.emeraldsecure.com/form.cfm?ID=68&UID=91585&SSLID=91585&SN=1794859669&CFID=437974696&CFTOKEN=20719671
About the author: David A. Iobst is a Certified Financial Planner™ with nearly 20 years of combined financial planning and insurance experience. He is located in Bear, DE and maintains securities and insurance licenses in Delaware, Pennsylvania, and Maryland. You can find out more about David by visiting his web site http://www.davidiobst.com.
David offers securities and investment advisory services through LifeMark Securities Corp. 400 West Metro Financial Center Rochester, NY 14623. Member FINRA/SIPC.