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In Today’s Presentation I’ll Be Covering How You Can Qualify For Burial Insurance Even If You Have Diabetes
NOTE: Would you prefer me to present this information to you in video format? Watch the video below for the compete presentation on qualifying for burial insurance with diabetes. Enjoy!
- Can A Diabetic Qualify For Burial Insurance?
- Why Should A Diabetic Get Burial Insurance Coverage?
- Individual Breakdown Of Different Diabetic Issues And Coverage Options
- Other Factors That Could Affect Insurability
- Final Thoughts And Next Steps
- Burial Insurance Rates, Age 40 to 90*
- Next Steps
Can A Diabetic Qualify For Burial Insurance?
Let’s answer the first question you probably have. Can a diabetic even qualify for burial insurance in the first place? The short answer is yes, yes, yes, yes, yes, yes. You do have the ability to qualify for burial insurance even if you’ve got some form of diabetes, whether it’s mild or severe.
Now, there’s a long answer, of course. There’s always two sides of every coin, right? So let me describe what I mean in a little bit more detail.
It depends on a number of circumstances. Do you have type 1 diabetes or type 2? Do you take insulin or not?
What is the length of time since you were originally diagnosed? Were you diagnosed as a youngster with type 1, or were you diagnosed in adulthood with type 2?
When did you start taking the insulin? Did you start as a child or as an adult?
Diabetic complications also factor into your ability to get coverage. Do you have diabetic neuropathy, nephropathy, or kidney disease? Do you have blindness or underwent amputation due to complications of diabetes?
Other health factors such as heart health history, kidney health history, and other factors can also affect your ability to qualify for affordable and quality burial insurance.
Now, before I jump the gun, the thing I want you to understand is we’re going to break down each of these particular conditions and go into detail about what they are, how they work, and what carriers and companies tend to be the most flexible.
I’m going to show you rates. I’m going to show you companies. I’m going to give you my analysis as a burial insurance specialist in order to indicate which companies are going to be most suited, not a guarantee, but most suited to provide quality coverage for you depending on the severity, or lack thereof, of the diabetes you had.
Type 1 Diabetes
Type 1 diabetic are diabetics that have had diabetes since childhood. Everybody else that got it in adulthood is a type 2 diabetic.
Case in point, my grandmother was a type 1 diabetic. She took insulin for many, many years. She started off in early childhood with insulin dependency because of her inability to create insulin on her own.
A type 1 diabetic takes insulin to manage their blood sugar levels. It’s almost a guarantee that if you have type 1 diabetes, you’re taking some form of insulin to control and manage your blood sugar.
The good news is, in many cases, type 1 diabetics may qualify for first-day full coverage. I know this is a relief to a lot of people because a lot of companies out there don’t want to deal with you whatsoever when they see type 1 diabetes.
Individual Breakdown Of Different Diabetic Issues And Coverage Options
What I’m wanting to do now is actually take a look at some carrier options and rates that I know of that will actually get you coverage. We’re going to look at say 60, 70, and 80 for males and females, and as we’re looking through the rates, I’m going to point out which carriers are going to allow type 1 diabetics.
The goal here is to show you how affordable a whole life burial insurance policy can be in addition to showing you who’s actually going to be able to qualify you potentially for first-day full coverage. So let’s take a look.
What you’re looking at here is a quote profile of a variety of companies for a 60-year-old male that can get $10,000 in first-day full coverage. I’m going to point out to you the carriers that, based on my personal experience in helping people with type one diabetes, will usually offer first-day full coverage.
So first of all, we take a look at Security National Life. As long as the client takes insulin but does not have complications of diabetes, they will offer what’s called standard coverage. That actually is right here at a price point of about approximately $51.51 for $10,000.
I also know that Liberty Banker’s Life is another company here that will offer first-day full coverage for insulin-dependent type 1 diabetes under certain circumstances. The price for $10,000 in coverage is $59.24.
Lastly, looking at TransAmerica Life Insurance Company, they will offer standard pricing for $59.30 for $10,000 in coverage. So here are your options.
Again, this is what your capability is to actually qualify for something. This is all contingent upon whether or not you have complications of diabetes and the age which you actually began taking insulin.
Of course, these are just estimates from a computer program. Ultimately, the best thing you can do is talk to me, and then I can run a full health profile on you to give you a better idea of what exactly you would qualify for.
So here’s a 70-year-old male for $10,000 in first-day full coverage. As long as you qualify based on their health questions, you’re looking at somewhere between an $80 to $110 premium depending, of course, upon how the health questions are answered.
Lastly, for an eighty-year-old, insulin-dependent male, for $10,000 in first-day full coverage, you’re looking somewhere between $150 to $215 or so a month.
For a female who has first-day full coverage and is insulin-dependent type 1, you’re looking at somewhere between low $40s to mid $40s for $10,000. A 70-year-old is going to be paying somewhere between the mid $50s to mid $60s to the upper $70s for $10,000 in first-day full coverage, and an eighty-year-old female, type 1 insulin-dependent diabetic for $10,000 in first-day full coverage, non-smoker, is somewhere between $120 to $150 for $10,000 in coverage.
Type 2 Diabetes
Now we’re going to take a look at type 2 diabetics that do not use insulin. The good news is that most burial insurance companies will accept applicants with type 2 diabetes if you have no insulin use.
What we’re going to do is just look at the carriers based on a 60, 70, and 80-year-old males and females, and then also discuss if diabetic complications with these carriers potentially would be a shortfall.
For a $10,000 policy for a nonsmoking female, you’re looking at somewhere between $30 to $35, maybe $40 a month, no more than that, for first-day full coverage, even if you’re diabetic. Again, most of these companies, do not care about diabetic implications.
Now, some of them you’re looking at here are going to care about if you have diabetic complications. So there’s several here off the top of my head that would not take you at preferred rates if you have diabetic neuropathy, while others would. I can tell you which ones those are, and I’m happy to help you qualify for the ones most appropriate and most competitively priced.
A $10,000 plan with type 2 diabetes, no insulin, depending on complications of diabetes is somewhere between mid to upper $40s to mid to upper $50s.
For $10,000 in coverage for an 80-year-old female that is applying for first-day full coverage that is type two diabetic and doesn’t take insulin, who may or may not have complications, is looking at low $90s to $110s, depending again on whether or not the person has complications or other health factors.
A 60-year-old, $10,000 first-day full coverage, type 2 diabetic with no insulin use, male is going to look at upper $30s to upper $40s for $10,000 in coverage.
Seventy-year-old male with the same product description as above is lower $60s to mid $70s.
An 80-year-old, $10,000 first-day full coverage, type 2 diabetic, no insulin, potential complications but maybe not, somewhere between low $120s to upper $140s.
Now we’re going to look at type 2 diabetics that use insulin. Now, in many circumstances, you may qualify for first-day full coverage with many burial insurance plans as long as the type 2 diabetic takes insulin shots, depending on the carrier and state you reside in.
Some carriers aren’t as flexible if you have diabetic complications, so let’s take a look at some of the options considering insulin without diabetic complications. What you’re looking at here are some of the carriers that will offer a $10,000 first-day full coverage plan. Specifically, we’re looking at a male who has type 2 diabetes and takes insulin.
Now, I can tell you based on my experience when it comes to a type two diabetic, the main question that many of these carriers will ask you is, what age did your diabetes start? So for example, there are carriers on here that ask, did you start insulin before or after the age of 50?
For example, Standard Life & Casualty has that question on their application. If you started insulin prior to the age of 50, even if you’re just a type 2 diabetic, they will not approve you for coverage.
Whereas if you look at a company like Family Benefit, as long as the applicant started insulin after the age of 40, then they’re potentially eligible for first-day full coverage. Prior to 40, they’re only eligible for what’s called graded insurance, which isn’t first-day full coverage.
There are other companies like that who look at the age at which insulin was started, and there are other companies that don’t care about age and only care about diabetic complications.
Take TransAmerica, for example. As long as you started after the age of nine, in most circumstances, they don’t care when insulin started and they don’t care about diabetic complications either, but you pay a standard price, which is a little bit more expensive than preferred.
Other Factors That Could Affect Insurability
This can all be kind of confusing. It just totally depends upon the circumstances individually too. You could have other health issues in combination with this that may detract from you even qualifying for the preferred product.
I mentioned this to show you that there are options and ultimately it’s going to come down to what your health is in totality and allowing me to actually do a quick interview with you to figure out what those options would be.
Now let’s take a look at diabetic complications such as neuropathy. That’s where you get nerve ending pain in your fingers and your feet. Nephropathy is kidney disease oriented around the progression of diabetes. Blindness, of course, and any sort of health issue resulting from diabetes are also possible complications.
Diabetic complication can pose more difficulties in qualifying for coverage, although it’s not necessarily impossible to get quality coverage on the books.
We’re going to look at the same rates again, and I’m going to go through which carriers are going to be okay with diabetic complications and those that aren’t. Again, ultimately, a consultation with me is necessary to get the best idea of what your options are.
Again, we’re looking at a couple of companies here, and I can tell you that many of these companies are very negative against first-day preferred coverage if you have complications with diabetes.
For example, I can just tell you by memorization, Assurety does not approve people for preferred coverage or simplified level if you have diabetic complication. Same thing with Mutual of Omaha, Security National, Settler’s Life, Prosperity Life, and Liberty Bankers.
But there are carriers here like Family Benefit or even Standard Life that do not care about diabetic complications nearly as much. Americo will as well under UP2 or Ultra Protector 2 product, and I’m pretty sure that American Continental is fine with it as long as you don’t have heart history complications. So we’ll talk more about that momentarily.
So the last thing to consider when you’re trying to qualify for burial insurance and have a history of diabetes is other combinations of health problems you have.
You see, diabetes has an effect on your entire body. That’s why it’s so dangerous.
It starts off as just having high blood sugar issues, but progressively worsening blood sugar causes your body to shut down and deteriorate in all forms and fashions.
Insurance companies recognize this. The medical community at large understands this. So insurance companies will restrict coverage under certain circumstances.
For example, if you have a combination of heart problems and diabetes, that may remove your ability with certain companies to get first-day full coverage. Same thing with kidney problems or stroke history.
The key thing here is to make sure you work with a broker that can navigate around those options while still providing quality burial insurance coverage.
Many of the companies that we just looked at on the chart there will allow somebody with heart, kidney, or stroke history to get preferred coverage, but only under certain circumstances. Again, this is why it’s so important to work with a broker that has the ability to work with different life insurance companies.
Let me give you some final thoughts on getting qualified for burial insurance. Whenever you qualify for some kind of life insurance, you’re probably going to be broached with the potential of doing an exam or not doing an exam. It’s usually optional with any kind of what we call simplified issue products.
What that means is that most life insurance products that are designed for a burial type of plan do not require an examination to determine insureability. You simply fill out the application and return it to the home office where they underwrite it.
From there, they pull necessary medical records to determine whether or not you’re going to be insured. The process usually takes days or weeks, as opposed to months with the traditional fully underwritten examination type of approach.
Most people agree they prefer not to do an exam if they can get away with it. Luckily, with this particular type of product, it’s totally optional, and it’s something that can be a huge benefit to most people who want it.
Another question to ask yourself is, if you’re looking for burial insurance that will get you good coverage and you’ve got diabetes, should you use an agent or not?
Maybe you should use a company that mails you junk mail or you see their stuff on TV. I understand why people feel this way. Look, I’m a salesperson, but I also deal with salespeople too.
Funnily enough, salespeople feel the same way about salespeople. They don’t want to be bothered either.
But the thing is in this business, there is a clear separation between guys who only sell one particular product and don’t have the expertise or experience versus an agent like me who’s been doing this for a long time and intimately understands the companies and which ones are going to be the best, depending upon your unique health profile.
So it’s important to pick someone you can trust, that you feel comfortable with, that you can see they understand their craft, they know how to deliver, and they know how to help you out. So finding an agent you can trust is the best.
The next thing is to make sure you ask the question, are you a captive agent or are you an independent agent?
Independent agents are agents like me who are not beholden to one particular insurance company over another. Even more importantly, what we are beholding to is you the client.
Our job is to profile you and your health, then go to the marketplace to see which carrier will give you the best deal. Captive agents are 180 of that.
They are an agent to the company. They represent one company, and when they sit with you, they only sell you what their company has, which is one company, one product. As we know, when you have a limitation of options, it potentially reduces the benefits.
Many times in our business, when we deal with captive agents, they are selling an insurance product that’s too high. You’re going to pay more than you have to, or the coverage isn’t comprehensive.
They often force you to wait two years. Some health issues are completely unacceptable. They may give you the wrong kind of coverage. Hopefully you realize that working with a broker instead of a captive agent gives you the best chance of getting the best product the first time.
You can ask them outright, “Hey, are you a captive agent?” They’ll say, “What do you mean?
Well, how many companies can you represent? Show me and tell me what names of the companies are.” They’ll say, “Well, XYZ company.”
Ask to see some brochures. You can find out exactly where they stand.
If somebody asked me that question, I would say, “I represent TransAmerica, Mutual of Omaha, Security National, Assurity, Standard Life.” The list goes on and on and on because I represent all these companies.
Burial Insurance Rates, Age 40 to 90*
Rates For $5,000 In Burial Insurance
Rates For $10,000 In Burial Insurance
Rates For $15,000 In Burial Insurance
Rates For $20,000 In Burial Insurance
Rates For $25,000 In Burial Insurance
*Burial insurance premiums are subject to underwriting, based on rates as of 8/20/2018, from state-regulated life insurance companies offering final expense burial whole life insurance protection. Understand that in order to potentially qualify, you must submit an application to see if you’re eligible. Rates are subject to change. Give Buy Life Insurance For Burial a call at 888-626-0439 now to see what program you may qualify for.
You get the point. Work with an independent agent, one that you can trust and that’s going to give you the best chance of getting the best deal.
Let’s talk about how to qualify for a life insurance program that covers these kinds of burial insurance costs as a diabetic. Applying is very
simple. Pick the agent you like. This guy, hopefully. =) I’m happy to help you out no matter where you are in the country.
After that, your agent listens to your life insurance needs and draws up a quote. If you like what you see, our next step together would be applying over the phone or the internet.
You don’t need a visit from me anymore. Everything is done over the phone or over email. It’s very simple.
It usually takes a couple of days, maybe weeks, and your coverage is approved. Then you get your policy and that’s it. It’s a very, very simple process.
If you like the information I’ve delivered today, if you think it would be of value to you and you want to qualify for one of these final expense life insurance programs, here’s what you need to do.
You can call me at 888-626-0439. I’m happy to give you a free quote. It takes about five or 10 minutes tops to do it. You can go to my website at BuyLifeInsuranceForBurial.com and get a free quote there.