Many times, you will find that people are denied insurance policies solely based on their current health condition as well as their medical history. Some may not even be aware of an existing condition at the time they are applying for insurance benefits and don't find out until they have to go through the exam that most insurance companies require for coverage.
So, is there a kind of insurance policy you can purchase when you have diabetes or another health condition? Absolutely.
In the United States alone, approximately 30 million people have Type 2 diabetes. In some cases, they become insulin dependent and must take medication regularly to help. For this reason, it may be harder to find affordable insurance rates when you need them the most.
Insurance for Diabetics
When a person has diabetes, it means that their body can’t normally use insulin to help combat the high sugar that is found in their blood. This can cause damage to the blood vessels and nerves and can ultimately lead to a stroke or heart disease.
When you have diabetes, you are probably already well aware of how this condition can affect insurance rates. It can make insurance rates more expensive, and you may not even qualify for certain policies. When an insurance company sees these kinds of serious health conditions, they see the person as being high risk.
However, as a diabetic, the insurer also is obligated to see how well you are able to manage the condition as well.
Burial insurance is something that can provide a person with the money they need to help cover the costs of their burial and funeral arrangements. The policies are generally affordable, and they have different coverage levels to choose from.
The typical coverage amount is $25,000, and a medical examination is not required as a condition for eligibility. For this reason, your diabetes will not affect the overall cost you would pay for this kind of policy.
Should You Choose Burial Insurance?
Burial insurance is good coverage for those who are looking for a small amount of protection, those who can't afford a large policy, and those who have existing health conditions like diabetes that may hinder them from obtaining another kind of insurance policy.
It is also ideal coverage for someone who has fewer financial dependents and is looking for a more affordable alternative to other insurance policies.
Burial Insurance Rates
For men and women with diabetes, the rates may differ, but you will generally see monthly payments of between $23 and $221 per month depending on the amount of coverage selected. It is a cheaper alternative than term life insurance.
When it comes to finding the best burial insurance rates for diabetics, it is important to shop around and compare rates. Speaking with an agent also allows you to compare rates and policies for different insurance companies to see what the best fit for you and your family would be.