Juvenile Diabetes: Life Insurance Options For Patients

Juvenile diabetes, also known as Type 1 diabetes, is generally more challenging to manage than Type 2 diabetes as it often involves insulin therapy. While it is possible for individuals with Type 1 diabetes to obtain life insurance, they may face higher premiums and more limited options compared to those with Type 2 diabetes. Life insurance companies typically view Type 1 diabetics as high-risk applicants due to the potential for diabetes-related complications. However, by shopping around, staying on top of diabetes management, and working with specialised brokers, individuals with Type 1 diabetes can increase their chances of obtaining life insurance at more competitive rates.

Type 1 vs Type 2 diabetes

Juvenile diabetes is also known as Type 1 diabetes. People with Type 1 diabetes can generally get life insurance, but it may be harder to obtain than for those with Type 2 diabetes. This is because Type 1 diabetes is considered harder to control and therefore a higher risk for insurance companies. As a result, people with Type 1 diabetes may face higher insurance costs than those with Type 2.

Now, let's delve into the differences between Type 1 and Type 2 diabetes.

Type 1 and Type 2 diabetes are both serious conditions that result in elevated blood sugar levels due to issues with the hormone insulin. However, there are several key differences between the two types.

The primary distinction lies in insulin production. In Type 1 diabetes, the body's immune system attacks the insulin-producing cells in the pancreas, leading to a complete lack of insulin. As a result, people with Type 1 diabetes rely on synthetic insulin medication to survive. Type 1 diabetes is, therefore, an autoimmune disorder.

On the other hand, in Type 2 diabetes, the pancreas still produces insulin, but the body becomes resistant to it. This is known as insulin resistance, where the body's cells in the muscles, liver, and fat stop responding to insulin effectively. Type 2 diabetes is not an autoimmune condition.

The causes of Type 1 and Type 2 diabetes differ. Type 1 diabetes is an autoimmune disorder caused by an overactive immune system. While the exact trigger is unknown, it is believed to be influenced by genetic factors. Type 2 diabetes, on the other hand, is primarily linked to having too much body fat, although it also has inherited or genetic aspects.

The onset of symptoms also varies between the two types. Type 1 diabetes symptoms tend to appear more rapidly, whereas Type 2 diabetes symptoms develop more slowly and can be easier to miss.

In terms of treatment, Type 1 diabetes is managed by administering synthetic insulin, along with lifestyle changes such as a healthy diet and regular exercise. Type 2 diabetes may not always require insulin or medication, and in some cases, it can be managed through lifestyle modifications alone.

The prevalence of the two types of diabetes also differs significantly. Type 2 diabetes accounts for more than 90% of diabetes cases, while Type 1 diabetes affects approximately 8% of people with diabetes.

The impact of diabetes control

When it comes to life insurance, the level of control an individual has over their diabetes plays a crucial role in the underwriting process and subsequent ratings and premiums. Here are some key points regarding the impact of diabetes control:

• Better control, better rates: Individuals with well-controlled diabetes, whether type 1 or type 2, may qualify for competitive rates and traditional term or permanent life insurance policies. Demonstrating good health and effective diabetes management can lead to lower premiums.
• Impact on health-related quality of life: Diabetes control can significantly impact an individual's health-related quality of life (HRQOL). Young adults with type 1 diabetes may struggle to balance disease management with other aspects of their lives, affecting their physical, emotional, and school/work functioning.
• Age at diagnosis: The age at which diabetes is diagnosed can also influence insurance rates. Being diagnosed with diabetes later in life may result in lower insurance rates compared to someone diagnosed in their 20s.
• Compliance and risk: Insurers consider the risk of non-compliance with medication and doctor's orders when assessing applications. The risk of non-compliance is higher for individuals with type 1 diabetes due to the necessity of lifelong medication management.
• Transition to adult care: The transition from pediatric to adult health services for individuals with type 1 diabetes can be challenging and may negatively affect their health. Regular assessments of HRQOL and discussions about work and education-related issues are important during this transition.
• Lifestyle and dietary changes: For type 2 diabetes, insurers consider factors such as regular exercise, a healthy diet, weight loss, and medication compliance when determining rates. Lifestyle changes can positively impact diabetes control and, consequently, insurance ratings.
• Medical exams and history: Insurers will often require medical exams and review medical history when evaluating applications. It is crucial to be honest about your condition and treatment to ensure accurate underwriting and avoid potential issues.
• Specialized programs: Some insurance companies offer specialized programs for individuals with diabetes, such as John Hancock's Aspire program, which provides technology, coaching, clinical support, and rewards to help manage the condition.
• Riders for additional protection: Individuals with diabetes may consider adding critical illness or living benefit riders to their policies. These riders provide additional protection in the event of qualifying illnesses or the inability to work due to the disease.
• Re-evaluation of rates: If an individual's health improves, and their diabetes control becomes more effective, they can request the insurance company to re-evaluate their rates. Improved health may lead to lower premiums.

The role of insurance brokers

People with diabetes can generally get life insurance, although the options available to them will depend on the type of diabetes they have, how well their diabetes is managed, and other factors such as age, overall health, and lifestyle.

Insurance brokers who specialise in finding insurance for people with medical conditions can help their clients navigate the complex world of insurance and make empowered choices. They can help their clients understand what cover is available, and guide them through the application process, which can be lengthy and complex.

For example, people with diabetes will usually need to provide insurers with information such as their latest HbA1c reading, a list of medications and treatments, blood pressure readings, their height and weight, and any diabetes-related complications. They may also need to provide a full medical report from their doctor. An insurance broker can help their client gather and present this information in a way that improves their chances of being accepted for cover.

Brokers can also help their clients find an insurer that will cover them at a reasonable rate. People with diabetes will often have to pay higher premiums, but the amount they pay will depend on how well their diabetes is managed, as well as other factors such as heart problems, smoking, and other medical conditions. Insurance brokers can help their clients find an insurer that will offer them a competitive rate, and they may be able to help their clients save money by shopping around and comparing rates.

In addition, insurance brokers can provide ongoing support by helping their clients review and update their policies as their health changes. For example, if a client's health improves, their insurance broker can help them negotiate lower monthly payments with their insurer.

Overall, insurance brokers play an important role in helping people with diabetes find and secure the right insurance policy for their needs, at the best possible rate. They can provide expert guidance and support throughout the process, from finding the right insurer and policy to making sure the application is comprehensive and accurate, to reviewing and updating the policy as the client's health changes.

The timing of insurance applications

The timing of your insurance application can have a significant impact on the policies and rates available to you as a person with diabetes. Here are some key considerations regarding the timing of insurance applications:

Get Insurance Before Developing Diabetes

If you already have a life insurance policy before being diagnosed with diabetes, your premiums will generally be lower than if you apply after the diagnosis. It is important to note that you should not hide a diabetes diagnosis from your insurance provider, as this could be considered insurance fraud and potentially nullify your policy.

Wait for Gestational Diabetes to Resolve

If you have gestational diabetes during pregnancy, it may be advisable to wait until after giving birth to apply for life insurance. Gestational diabetes is often temporary, and if you are otherwise in good health, waiting for it to resolve can result in more favourable rates.

Apply When Your Diabetes is Under Control

Demonstrating that your diabetes is well-managed can help you access lower rates. Maintaining stable blood glucose and A1C levels within the range recommended by your doctor for a year or more can lead to more coverage options and lower premiums. This shows insurers that you are taking active steps to manage your condition.

Apply Early if You Have Type 1 Diabetes

Type 1 diabetes is generally considered harder to control and, therefore, poses a higher risk to insurers. As a result, it can be more challenging to qualify for standard life insurance with Type 1 diabetes. The earlier you apply, the better your chances of securing coverage at a more affordable rate.

Shop Around for Insurers

Different insurance companies have varying rules and policies regarding diabetics. By shopping around and comparing quotes, you may find insurers that are more flexible and offer competitive rates for people with diabetes. This is especially important if you have Type 1 diabetes, as some carriers may not provide coverage for this type of diabetes.

The importance of lifestyle choices

Lifestyle choices are crucial for people with diabetes, as they can help manage the condition and prevent complications. Here are some key lifestyle choices that can make a significant difference:

Healthy Diet

Eating a healthy, balanced diet is vital for people with diabetes. This includes consuming plenty of vegetables, fruits, whole grains, non-fat dairy, and lean meats. It is important to limit foods high in sugar and fat, as carbohydrates can significantly impact blood sugar levels. A healthy diet can help keep blood sugar levels stable and within the recommended range, reducing the risk of diabetes-related complications.

Regular Exercise

Engaging in regular physical activity is essential for people with diabetes. It doesn't have to be intense—even a 30-minute walk, bike ride, or playing active video games can make a difference. Exercise helps control blood sugar levels and lowers the chances of heart disease, a common complication of diabetes. It also aids in weight loss and stress relief, which are beneficial for overall health.

Stress Management

Stress can negatively impact blood sugar levels, so finding healthy ways to manage stress is crucial for people with diabetes. Techniques such as deep breathing, yoga, or engaging in relaxing hobbies can help reduce stress levels and improve overall well-being. Managing stress can also help individuals stay focused on their diabetes management routines, such as exercising, healthy eating, and taking medications as prescribed.

Smoking Cessation

Smoking increases the risk of diabetes-related complications, including heart disease, eye disease, stroke, and kidney disease. Quitting smoking can be challenging, but it is crucial for improving overall health and reducing the risk of these complications. Talking to a doctor about smoking cessation methods and support can be a good first step.

Alcohol Moderation

Excessive alcohol consumption can interfere with blood sugar control. Therefore, it is important to drink in moderation, as recommended by the American Diabetes Association: no more than one drink per day for women and no more than two drinks per day for men. Checking blood sugar levels before drinking and eating while drinking can also help prevent blood sugar spikes.

Regular Checkups

People with diabetes should see their doctors regularly, at least twice a year. These checkups are important for monitoring cholesterol, blood pressure, and A1C levels, which are crucial for diabetes management. Additionally, annual eye exams and foot checkups are recommended to detect any early signs of diabetes-related complications in these areas.

Making these lifestyle choices can empower individuals with diabetes to take control of their health, improve their overall well-being, and reduce the risk of diabetes-related complications. It is important to work closely with a healthcare team to determine the best course of action for each individual's specific needs and situation.

Frequently asked questions