The 7 important factors of a diabetics insurance rating part 2
4 – HbA1c readings
HbA1c is a long-term measure of how you are managing your blood sugar levels.
A good insurer will be interested in your readings. Different insurers we spoke to have different sliding scales for qualifying for life insurance. Having too high a reading can rule out insurers completely.
HbA1c levels should be under 6.5% if possible
For the best quotes, a HbA1c reading of 6.5% or under is desirable. More tolerant insurers quoted a level of 8% as desireable, but readings over 9.9% on your A1c Hemoglobin Test can spell real problems when it comes to qualifying for life insurance.
Some insurers will base their decision on your last fasting glucose or glycohemoglobin reading instead. The bottom line is, whether you have Type 1 or Type 2 diabetes, try to ensure that your A1C is as low as possible, that you control your blood glucose level appropriately, and that your general state of health is good.
The provider may ask questions regarding how you manage your diabetes. Do you use a controlled diet, oral medication, or Insulin? If it is insulin, what is the amount taken daily? Is the treatment under good control? If you have a lower A1C, good blood glucose control, lead a healthy lifestyle, and do not have complications from diabetes, chances are your rate will be more reasonable too.
All things being equal, an insulin-dependent diabetic will pay a higher premium than those who don’t depend on insulin.
The insurer may also enquire about how often you visit your doctor, to guage to what level you monitor your diabetes.
Body mass index uses height and weight to broadly categorize your body state
The provider will ask your height and weight. With the perceived link between obesity and complications in diabetes, being overweight can have a big effect on the policy decision the insurer will ultimately make. Try to keep your body mass index between 18.5-25 before applying for your policy, to avoid any red flags.
Some providers ask more specific questions about the amount of exercise you do and the type of diet you have. All of these things can greatly count for and against you when applying for a life insurance policy as a diabetic, so it’s important to be as healthy as possible.
Everyone who applies for life insurance, whether diabetic or not, will be asked general health questions. You may be asked about high blood pressure, your cholesterol levels, and whether your diabetes has had any complications. Information from your GP here can be very valueable.
Diabetics are also more likely to suffer renal damage, neuropathy, retinopathy and heart disease, problems with circulation, eyes, heart, infections or kidneys. This is another reason to apply for your life insurance early. If you suffer these complications, getting life insurance will be much harder.
In summary, a number of factors affect your insurance rating. If you keep in general good health and manage your diabetes well, keep your glucose readings within acceptable limits and apply early, you are in very good stead to save a lot of money on your insurance premiums.