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The Alemian File: Good News for Diabetics Who Want Life Insurance

By David Alemian

According to the centers for disease control and prevention (CDC) there are 30 million Americans living with diabetes, and another 84 million are living with prediabetes. Indeed, in my own family, my mother, my aunt, my uncle all had diabetes when they were alive. My brother-in-law, along with the best man at my wedding, are living with diabetes, and my cousin is living with prediabetes. It’s safe to say, if you’re reading this, you are either living with diabetes or you know someone who is living with diabetes.

An insurance industry survey of people living with diabetes revealed the following:

  • 81% agree that life insurance can help provide for their family
  • 50% say it offers peace of mind
  • Nearly 50% assume they won’t qualify
  • 45% think it will be too costly

I’ve been a licensed life insurance agent for 23 years. I’ve tried to help many people living with diabetes apply for life insurance. The result was they would either be rated so high that it was not affordable or they would be declined. My best man at my wedding came to me wanting life insurance. I can’t tell you how hard I tried to get him covered, or how difficult it was for me to tell him that he had been declined.

Recently, I was absolutely stunned when I got an email informing me what John Hancock, one of the country’s top A-rated insurance carriers, is doing for people with type 2 diabetes.

For the last 18 months or so, over 90% of people with diabetes who applied for life insurance with John Hancock were qualified. Moreover, 88% were rated standard or better. The company even offers a rewards and savings program that includes a free Fitbit, discounts at health clubs, and savings at over 16,000 grocery stores for healthy food purchases. The idea is to change the conversation about diabetes and to encourage and reward people with diabetes for living a healthy lifestyle.

If you know someone who is prediabetic, or has type 1 or type 2 diabetes, please forward this article to them, because there is a high likelihood that they will benefit from this information. For those who are interested and would like to talk with an insurance agent about this insurance, Lowest Quote Life is an agency that is appointed by the insurance carrier.

If you have comments or questions, send an email to David@TheAlemianFile.com. For more information, check out The Alemian File Facebook page. Please make sure you “Like” the Alemian File Facebook page when you visit.

About David Alemian

Successfully creating affordable retirement plans guaranteed to last a lifetime is a unique, specialty skill. It’s a challenging arena but respected writer David Alemian makes it look easy. Alemian is a leading retirement expert and nationally recognized authority whose expertise is shared via video columns, numerous journals, and talk-shows.

His national recognition results from both revolutionizing and revitalizing how organizations and individuals like you and me plan and save for retirement. Alemian is considered “The Go-To Guy” for creating and implementing absolutely irresistible, lifetime retirement pension programs.

Formerly the host of “It’s About Money” Radio Show, Alemian has also produced and is featured in over 200 financial education videos. Additional content can be found in many well-respected, publications including: MD Magazine, Physician’s Money Digest, Physicians Practice, Journal of Clinical Oncology, Consultant Live, Psychiatric Times, Cancer Network, OB/GYN.net, and The Healthcare Executives Network.

This article reflects the thoughts and opinions of the author and is being provided for educational and informational purposes only. It should not be considered financial or tax advice. Please consult your financial or tax advisor about your situation.

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