World Diabetes Day: Three factors to consider while choosing a life insurance policy
insurance, especially term plans that safeguards the future of your loved ones. It's important to dispel the misconception that diabetes automatically translates to declining of life insurance. In fact, there are tailored plans available that offer affordable coverage without compromising on the quality of protection.
If you are diabetic, consider certain factors when it comes to obtaining life insurance: 1. Type and severity of diabetes: Knowing which type and severity of diabetes you have is important since insurers consider such factors. Better disease management and keeping the HbA1c (globally recognised standard for measuring blood sugar) levels controlled can be a significant factor in deciding whether you can buy a life insurance plan and at what premium.
2. Choosing the right provider: Insurers with a customer first approach will always try and figure out ways that can safeguard your family's finances if you are not around - diabetes should not be a hindrance to that. Hence, be prudent in researching the products and insurer before you purchase your life insurance policy.
3. Diabetes management: Managing diabetes requires consistent efforts in maintaining a healthy lifestyle. Displaying consistent good health practices and effectively managing diabetes over time can broaden your options while trying to choose the suitable term plan.
It can significantly help in more affordable premiums and some insurers even offer incentives for proactive efforts. There has been an emergence of tailored plans offering both quality and affordable protection for individuals with Type II diabetes whose HbA1c levels are below 8%. They even incentivise policyholders who actively manage their health condition by offering discounts on
. Read more on livemint.com
