Life Insurance is the most necessary instrument for covering any unwanted mishaps or happenings in life. Health issues and deaths consume a big chunk out of that long list of happenings.
Back in times, insurance brokers used to avoid unhealthy persons, but things have changed with the change in time. Since diabetes is a household disease in the present times, the insurance companies have come up with newer products & packages like diabetic life insurance that are exclusively for diabetic affected individuals but the premium for that insurance always hits the upper circuit. And that could be a big headache for anyone!
Blood Sugar levels & their influence on insuring a person
The perfect blood sugar level for a regular man or woman is 100- 125 mg/dl of blood under fasting conditions. Anyone crossing the benchmark of 140 mg/dl of blood under a fasting condition is considered diabetic. However, coverage vendors or insurance brokers may also permit human beings with blood sugar degrees of as much as 180 mg/dl of blood because blood sugar levels beyond 180 mg/dl of blood is glycosuria and that itself is a separate disease.
Impact of diabetes on life insurance
Interestingly, getting oneself or a DM affected close one insured is not a big issue, but the annual premium of diabetic life insurance is of course one. The premium is calculated for an individual depending on his/her health conditions where the HbA1c value plays the most important role.
For those who are unaware of HbA1c, it is glycated hemoglobin. It is formed when oxygen-carrying red blood cells combine with glucose present in the blood plasma. This gives a brief picture to the physicians regarding the degree of variation in the blood sugar levels.
The high the HbA1c value, the higher is the risk and so is the annual premium
Noteworthy parameters in calculating a policy premium
Apart from glycated hemoglobin, other noteworthy factors that contribute to the insuring term and value of the insurance are as follows:
- How long the person has been diagnosed with diabetes mellitus?
- What kind of diabetes it is? Diabetes mellitus is generally of 2 types: Diabetes Mellitus I & Diabetes Mellitus II
- How serve dosage of oral hypoglycemic drugs are being administered to the patient?
- Does the patient require regular insulin shots?
- Associated complications like retinopathy, nephritic diseases, diabetic neuropathy. Is the patient getting treated for them also?
- Sleep cycle
- Basal Metabolic Index
- Health retarding issues due to aging
We are in collaboration with some of the best insurance brokers/providers in the nation to provide diabetic persons a hassle-free life covering policy at the best possible price.