Wondering how applying for life insurance while taking Metformin may complicate the process, or even increase your rates?
Metformin is one of hundreds of prescription medications we see on applications regularly. Because diabetes is a growing concern in America, the rise has directly resulted in greater medication use, and Metformin is atop the list.
We can help.
Easy Approvals For Life Insurance While Taking Metformin
For over 20 years, Metformin has been helping those with with diabetes. The active ingredient in Metformin, hydrochloride (hcl), helps the person’s body better accept and use the insulin their body is creating. By helping a person’s blood react normal to the levels of insulin being produced, their blood sugar can stay more consistent.
You may not know Metformin by it’s true name, but here are some others you may recognize:
There may be other generic or brand names, but these are most common.
Why Metformin Affects Life Insurance
Taking the drug means you’re working to control or moderate your diabetes, and diabetes is a serious condition for life insurance underwriters. In addition, someone who takes Metformin may also be taking another prescription, like insulin, to help control high blood glucose. The combination, over a long period of time, can be harmful to the body, especially the kidneys.
Any time a person requires a long term medication, like Metformin, there are potential health draw backs. To get a better idea, here is what the life insurance company needs to know:
- How long have you been on Metformin?
- What is your current dosage and frequency of the medication?
- When is the last time you had to change the dosage or frequency?
- What symptoms are you experiencing while taking Metformin? (polyuria, polydipsia, polyphagia, etc.)
- Are you taking insulin, as well?
- How stable is your diabetes, and how long have you been stable for?
- Have you taken any other prescription besides Metformin for your diabetes?
These are just a few examples of what will be asked to help provide a clear picture of stability and control. Stability and control of diabetes are the number one factors affecting your premiums, period.
Assuming your diabetes is under control and there are no other health factors or pre-existing conditions to consider, you can receive as high as a Standard rating from several different life insurance companies. A few insurers may only go as high as Sub-Standard Table 2, but we’ll help you to navigate away from them.
If you’re not under control, you’re having problems with your weight, or have other significant health conditions which would otherwise be a concern, expect no better than a Sub-Standard rating, meaning you’ll pay more.
In some cases, if control is not prevalent, or the dosage and frequency are very high, you could be declined.
What We Can Do For You
We’re independent, meaning we don’t work for just one life insurance company. In fact, we can work with whichever life insurance company is best fit to you, and your situation.
We have worked with many, many people to find affordable life insurance with diabetes, and we can help you, too. We highly recommend you avoid using your property & casualty agent, the person who helps you with your car insurance or homeowner’s insurance, because they don’t know the complexity of the concern.
Many agents might be able to get you insured, but we get you the best life insurance rates, period.