When you apply for life insurance protection, the insurance company is going to look at dozens of different factors to decide how much they are going to charge you for insurance protection, or if they will accept your application. The insurance company is going to review everything from your job to your hobbies, but one of the most important things that they are going to look at is your health. They are going to see if you have any health problems.
Having any type of health issue can make it difficult to qualify for life insurance. This can be true for pregnant women who have gestational diabetes – unless you know where to look for coverage.
There are many cases, though, where a woman who is in her first two trimesters of her pregnancy can not only qualify for coverage, but could actually even obtain a preferred premium rating if she has not had any complications and is in extremely good health.
Life insurance is one of the best purchases that you’ll ever make for your loved ones. It’s one of the only ways that you can guarantee that they will have the money that they need, regardless of what happens to you.
This article is going to explore the different factors of getting approved for life insurance as an applicant with gestational diabetes. We know that shopping for life insurance is not a fun experience, but that’s why we are here to help.
Will You Be Approved for Life Insurance with Gestational Diabetes?
Many of those who have gestational diabetes can obtain life insurance coverage. It will require taking a medical exam as a part of the underwriting process. This will entail a giving blood and urine sample. These samples will be reviewed for various health factors that could pose additional risk factors to the insurance company if they approve you for life insurance coverage.
In addition, the underwriters will also want to know additional information about your condition, such as the following:
- When was your initial diagnosis with diabetes? The underwriters will need to know whether you were diagnosed with diabetes before or after you became pregnant. This is because the condition is easier to manage if it was diagnosed prior to that time, due to your existing history with it.
- Are you currently pregnant? If you are not currently pregnant, but you have a history of having gestational diabetes, then it is possible that you may be approved for coverage right away. If, however, you are currently pregnant, the underwriters may require you to wait until after your child is born before approving you for coverage.
- When was the most recent visit with your endocrinologist? The underwriters may also request the most recent records and information from your endocrinologist in order to obtain the most accurate and up-to-date information on your medical condition.
- What, if any, relevant diagnostic testing have you had performed over the past six months? If you have had any recent lab testing performed such as RBS, OGTT, or FBS, the underwriters will be able to confirm information regarding your blood sugar levels, as well as confirm how you are managing your condition.
In addition, the underwriters will also consider other factors as well when reviewing your application for coverage, including your:
- Height and weight
- Blood pressure and cholesterol
- Smoking and alcohol habits
- Riskiness of occupation and / or hobbies
- Overall health
- Family health history
Once the underwriters have been able to obtain a good idea of your health and your condition, they will be better able to make a determination regarding coverage, as well as the amount of premium to be charged for your policy.
How Much Will Your Life Insurance Coverage Cost?
Depending on your overall health status, as well as how you are controlling your condition, your policy rating and corresponding premium could fall into one of three broad categories. These include:
- Preferred – While it is unlikely that you will obtain a preferred rating, there are some cases where a woman who is in extremely good health and has no complications from gestational diabetes could get a preferred rating.
- Standard – It is much more likely that if you are in good health – other than your controlled gestational diabetes – you will obtain a Standard policy rating. This means that while your health is not exceptionally good, it is also not bad. In this category, the rates are considered to be average as compared to others who are of average health, height, and weight.
- Substandard – An insured who is given a Substandard rating is considered to be a higher risk to the insurance company than someone who is a Standard. This is because they may have a certain health issue that could make their likelihood of filing a claim higher. Therefore, their premiums are also higher in order to compensate for the higher risk to the insurer.
No Exam Life Insurance
One way that you can get affordable life insurance protection is to buy a no exam life insurance plan. As you can guess from these plans is by purchasing a no exam life insurance plan. There are several advantages and disadvantages to these plans that you should be aware of when you’re shopping for insurance coverage.
One of the most notable disadvantages of these policies is that they are going to be more expensive than a traditional insurance plan that requires a medical exam. The purpose of the medical exam is to give the insurance company an idea of how much risk you are to insure, but without that life insurance, the company is taking a much greater risk. If you want to get the most affordable plan, then you will need to apply for a traditional life insurance policy.
The other drawback of these plans is that you’re going to be limited on how much coverage that you can buy without the exam. Most companies are only going to allow you to buy around $250,000 worth of protection. For most companies, this is not going to be enough insurance. Not having enough life insurance can be almost as bad as having to life insurance at all.
How to Apply for Coverage When You Have Gestational Diabetes
The best course of action to take when you have gestational diabetes is to apply through a life insurance professional who is experienced in working with higher risk cases, as well as one who has access to more than one insurer. Most importantly, make sure they understand how to secure life insurance for people with diabetes.
We can help you to steer clear of the insurance companies that automatically decline or charge exorbitant rates for those with gestational diabetes and apply only with those who have a history of accepting applicants with this condition at affordable premium rates.
Every insurance company is different, which means all of them are going to view your gestational diabetes differently. Some companies are going to be more favorable towards your condition than other companies. Finding the right company is going to be the difference between getting approved for an affordable life insurance policy or having to pay for a policy that breaks your bank every month. There are thousands of different life insurance companies on the market, and all of them have different medical underwriting and rating systems, which means that you’ll get drastically varying rates depending on which company that you get the quote from.
Instead of wasting hours and hours calling different companies to get quotes, let one of our agents do all of the hard work for you. Unlike traditional agents, our independent agents work with dozens of highly rated companies across the nation, which means that we can bring all of the best insurance plans are rates directly to you. As we mentioned, every insurance company is going to be different, and we can help you find the policy that is going to work best for you.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance coverage that your family If something were to happen to you, and you didn’t have life insurance, your family would be responsible for a massive amount of debt and other final expenses. Losing someone that you love is never going to be easy, but leaving them with thousands and thousands of debt is going to make the situation that much worse.
We know that nobody wants to think about his or her own death, but it’s important that you always plan for the worst. Not planning for your own passing is the worst thing that you can do for you loved ones. We are here to make your life insurance search as quick and simple as possible.
If you want to get a quote for life insurance you can use our quote form on this page or contact us at 888-552-6159.