Having any kind of health concern can make you think twice about applying for life insurance, especially if you have diabetes and are taking Pramlintide. However, rest assured, life insurance while taking Pramlintide is not much different than any other applicant with diabetes.
It’s true, life insurance companies will consider an applicant’s overall health when deciding whether to issue a life insurance policy and whether the application warrants charging a higher rate, or premium. Individuals who disclose diabetes on their insurance applications, or note they take Pramlintide, will alert the insurance carrier to take a closer look at the application.
We will get to know more about you so we can steer you towards the companies who will likely approve your application even if your diabetes is not currently well-controlled. Let’s briefly discuss your options.
How to Get Cheaper Life Insurance While Taking Pramlintide
Diabetes was the seventh leading cause of death in the United States in 2010, according to the American Diabetes Association. This statistic is a cause of concern for life insurance companies. Insurers are also aware over 29 million Americans had diabetes in 2012.
Insurance carriers will take into consideration additional factors on an individual’s application form, including age, gender, family history, and ethnicity. The rate of diabetes in seniors over the age of 65 is high, at about 25.9%, so insurance companies will respond more favorably towards younger applicants.
Certain ethnicities have a lower than average rate of diabetes. Non-Hispanic whites, Asian-Americans, Chinese, Central Americans, South Americans, and Cubans all have lower rates of diabetes.
Still, another concern for life insurance companies are other complications or health conditions sometimes accompanying diabetes. Common illnesses include:
- Hypoglycemia (low blood sugar)
- High Blood Pressure (hypertension)
- Cardiac Issues (cardiovascular disease, stroke, heart attack)
- Eye Disease or Blindness
- Kidney Disease
- Dislipidemia (elevation of plasma cholesterol, triglycerides or both)
Insulin is a bodily hormone regulating glucose, or sugar. Having the right amount of insulin is important because it breaks down the sugars and starches in our diets and converts them to a simple sugar called glucose. The body retrieves glucose from the bloodstream and converts it to energy.
Individuals living with Type 1 diabetes have bodies who don’t produce insulin. This causes a condition called hyperglycemia, where the person’s glucose level becomes higher than normal. Type 1 diabetes is usually diagnosed in children and young adults. In the past, it has also been referred to as juvenile diabetes. Five percent of young people are affected by Type 1 diabetes.
Adults are more likely to be diagnosed with the most common form of diabetes, which is Type 2 diabetes. Individuals living with Type 2 diabetes are able to produce insulin in their bodies, but their bodies don’t use the insulin well enough to properly break down sugars and starches or convert them into enough glucose. In the initial stages of the disease, the pancreas will work overtime to produce extra amounts of insulin, but it can’t produce enough insulin to regulate the glucose at normal levels for an extended length of time.
All diabetics should be under the care of a physician. Many diabetics are able to regulate their glucose levels by modifying their diets and getting plenty of exercise. Others require a prescribed medication or injection of a man-made, or synthetic insulin, along with making dietary and lifestyle changes.
Here are some common symptoms of diabetes:
- Frequent urination
- Having excessive thirst
- Feeling hungry despite eating often
- Extreme tiredness
- Blurry vision
- Slow-healing wounds
- Weight loss (Type 1)
- Tingling, pain, or numbness in the hand and feet (Type 2)
Pramlintide is an injectable medication which effectively lowers glucose levels for individuals with Type 1 and Type 2 diabetes. Insurance companies will recognize diabetics who take Pramlintide are actively working towards stabilizing their glucose levels and will regard this favorably on their insurance application.
Pramlintide is a synthetic hormone resembling the human hormone amylin, which is produced in the pancreas. The body releases amylin into the blood after you eat food. The job of amylin is to regulate the levels of glucose in the blood. Amylin slows the rate of food absorption in the intestine. It also inhibits glucagon, another hormone produced by the pancreas, while glucagon is in the liver. This slows down the production of glucose by the liver.
Pramlintide is an FDA approved drug which also reduces appetite. Studies have shown Pramlintide has a proven track record of reducing glucose levels, which is a positive benefit when applying for life insurance.
Filling Out the Application
Diabetics taking Pramlintide can expect to pay a higher rate of premium than non-diabetics and diabetics who are able to control their illness with diet and exercise alone. This shouldn’t discourage you from applying, however. Just answer the questions honestly and be sure to highlight lifestyle changes having a positive impact on keeping glucose levels regulated.
Remember Pramlintide holds a strong reputation in the medical community for helping people have flexibility and control over their condition. Add any of these positive lifestyle conditions to a cover letter for your underwriter if you think it may help.
Every application is different, but they ask some common questions about your health, including:
- How old were you when you were first diagnosed with diabetes?
- Do you have Type 1 or Type 2 diabetes?
- Are you taking medication for diabetes (other than Pramlintide)? If so, please indicate the name and dosage.
- Do you receive injections of insulin? How often?
- How often do you check your glucose levels?
- Do you consume a healthy diet?
- How often do you exercise?
- Have you ever been hospitalized for diabetes?
- Have you ever had tingling in your arms, legs, fingers, or toes?
Weighing Your Options
Don’t be discouraged by all of the medical questions. We can help you find a life insurance policy which suits your needs and budget.
In some cases, we will recommend a term life insurance policy where you can get a specified limit of life insurance for 10, 20, 30 years or longer. In other cases, we may suggest a more permanent solution, when needed.
We also offer policies for those who don’t quality for term or permanent insurance policies. These are guaranteed-issue policies with few or no medical questions and don’t require a physical examination. These are last resort type policies, as they tend to be the most costly, per thousand.
Don’t assume you will be in a high risk category just because you have diabetes. We will present you with the insurance carriers who are most likely to approve your application. We’re happy to answer any questions or concerns you have about filling out your life insurance application and selecting the best policy.
Contact us today and we’ll get to work on finding you the best policy with the cheapest rates.