Every year in the US there are nearly 2 million new diagnosed cases of diabetes. Receiving the diagnosis means joining the ranks of nearly 26 million other Americans who suffer from this condition. There’s no doubt that diabetes, and more specifically Type II diabetes, is a growing epidemic in our nation- and an expensive one at that. An estimated $132 billion is spent annually on medical costs and lost productivity. With 8.3% of the population suffering from this condition, many are faced with learning how to control their diabetes, as well as how to handle added costs and new challenges. When it came to purchasing a life insurance policy, for instance, the diabetic has been destined to pay higher rates, if they can get insured at all. Many diabetics have just accepted this reality as another side effect of their disease. Now ING is changing the game when it comes to life insurance for type II diabetics.
ING has just announced that applicants for insurance who suffer from type II diabetes can still qualify for preferred rates provided that they meet the proper criteria. This is great news for many who maintain a healthy lifestyle and control their diabetes properly. If he or she can qualify as a true Standard applicant, meaning that they require no credits to achieve a standard rate class, and they meet the parameters set for type II diabetics, then they are eligible to receive Preferred consideration.
An example of a type II diabetic who would meet the Preferred rate criteria would be someone who has been diagnosed within the last five years, maintains compliance with their medication and has their blood sugar in excellent control. If the candidate has no other significant medical history and lives an otherwise healthy lifestyle, then he or she will be considered eligible for the Preferred rate. Millions of Americans are receiving word that they suffer from type II diabetes, and many more are estimated to fall into a pre-diabetic category and may soon face a diagnosis. This move by ING helps to insure that they have better options available to protect their loved ones in the future.
If you have been diagnosed with type II diabetes and have been afraid to look into life insurance policies due to higher rates, now is a great time to see if you can qualify for some of the best coverage at the best rates available. It is important to talk with your doctor about the proper ways to manage your diabetes and determine healthy habits. This will increase your chances of being able to take advantage of this opportunity. If you have any further questions about life insurance rates for diabetics, be sure to discuss them with your life insurance representative.