anybody been denied life insurance because of being diabetic

[MYDEAR]

hi all

i have a small amount of insurance and have always wanted to to get more, but i was waiting to reach 50 so i could get one of those golden oldies policys. you know the ones where you don't have to have a medical but have to answer 3 simple health questions.

well one of the question's are: if you have been diagnosed with diabetes in the last 2 years or are you being treated for it?

i'm just wondering if anyone has gotten any new insurance after being diagnosed. or is it a waste of time trying to get more insurance on myself

[JediSkipdogg]

My guess would be you would pay out the pocket alot more for it. But I don't think they would deny you for being diabetic. But that's just me. Keep in mind I'm only 24 years old, so I have a while to go before thinking about that.

[JediSkipdogg]

Here is some more info from the ADA...

http://www.diabetes.org/advocacy-and-legalresources/healthcare/lifeinsurance.jsp

Just in case that may be helpful to you.

[MarkMunday]

When I applying for insurance, my premiums have been loaded by up to 150%. The fact that I concientiously manage this condition and will probably live to a ripe old age is not taken into account. The loadings are based purely on historical mortality tables, which are completely out of date anyway.

I think it really stinks! I took out insurance when my kids were small because it was the responsible thing to do. But the older you get, the less you need insurance. And I cancelled all my policies 7 years ago.

Cheers,

Mark

[JediSkipdogg]

While I was researching this online I found quite a few resources that said you need to find an insurance company that asks you about your treatment methods. You don't want one that lumps you into a diabetic premium but one that asks you what your A1Cs have been, how you currently manage it, any complications you have ever had from it, etc, etc. Now, if you have had any problems you may be better going with a life insurance that lumps all diabetics together, but for someone that has treated it greatly in the past, you can look at saving quite a bit, upwards of 50% in premiums from the lump sum diabetic premium.

Remember, all companies have to give quotes before you accept. So while it may take longer, doing your research properly may find you an excellent deal.

[MYDEAR]

thanks

i'm not looking for a lot of insurance. just enough to pay for my final expenses with a little left over for my kids and grandkids.

[JediSkipdogg]

thanks

i'm not looking for a lot of insurance. just enough to pay for my final expenses with a little left over for my kids and grandkids.

If that's all you really want open a savings account at a bank and put $50-$100 in it a month. And then just put the account in your will or have your name as the only one on it with Payable to so and so upon your death.

[MYDEAR]

you know jedi

someone else mentioned that to me a while back. i'm going to look into it in the morning. that just might be the answer, but dam interest rates are sooooo low on saving account.

[JediSkipdogg]

you know jedi

someone else mentioned that to me a while back. i'm going to look into it in the morning. that just might be the answer, but dam interest rates are sooooo low on saving account.

But I think it's better than paying $1000 a year for life insurance for 15 years (hopefully more) to get $8000 in money to pay for your funeral. The ultimate option would be do some CDs or some other money item where you can invest a little at a time but get a high interest rate.