Having any type of health issue can make it troublesome to get approved for a life insurance plan. 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.
We are going to look at the 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. 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.
They will also ask for 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 looking at your application:
- 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 understand your health and will have a better idea on how much to charge you.
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.
No Exam Life Insurance
There are some attractive alternatives, like no exam life insurance. You don’t have to be a life insurance genius to understand the concept of these plans. To help you understand the options, we are going to detail problems with these plans.
Let’s get the worst out of the way to start, and it’s the price. These no exam options aren’t the cheapest. If you want the lowest premiums, you have to take the exam. The more info the company gets, the less they can charge you.
Another reason people don’t choose no exam as their first option is because of the coverage limitations. Each company has a different protection ceiling, but very few offer more than $500,000. More than likely, this plan won’t be large enough to protect your family.
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.
Each company views gestational diabetes differently. Some are going to be more warier than others. You need to find a company who offers cheap coverage for applicants with gestational diabetes.
That’s where we come in. You don’t need to spend your precious time combing through companies or researching plans. We are experts in high-risk life insurance, which means you don’t have to be.
We can work with you to find a quality insurance plan for you. Life insurance is confusing, but it’s even more confusing if you have a severe health problem like gestational diabetes.
It’s a morbid thought, but everyone is going to pass away eventually. 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.
Let’s get started. Call us at 888-552-6159 or fill out the form on the side.