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Juvenile Diabetes and Life Insurance

Juvenile Diabetes and Life Insurance

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Published by LennyRobbins
Information on how juvenile diabetes is viewed by life insurers.
Information on how juvenile diabetes is viewed by life insurers.

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Published by: LennyRobbins on Nov 20, 2009
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11/19/2009

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 Juvenile Diabetes and Life InsuranceUnderwriting life insurance has always been a conservative undertaking, andnowhere has this been more evident that when it comes to underwriting theindividual with juvenile diabetes. Also known as Type 1 diabetes, this diseaseaffects newborns, children and adolescents.In the non-diabetic, the pancreas produces a hormone, insulin, in the correctamount to change glucose in the blood into energy.  Type 1 diabetics do not produce insulin. They must inject the proper amount sothat their bodies do not build up glucose in the blood causing high blood sugar, alsocalled hyperglycemia. The key to control is using the correct amount of insulin. Toolittle or too much can cause serious damage to the body’s systems, and cantherefore lead to difficulty when it comes to purchasing life insurance. Current underwriting by insurance companies has not kept pace with the manyadvances in the control of juvenile diabetes. In the past, the amount of insulinnecessary to perfectly compensate for the body’s lack of insulin had been anapproximate decision at best. However, in the past few years technologicaladvances have made the amount of insulin one needs a more exacting process. Tofurther complicate matters, insulin need changes as individuals’ age and dietchanges. So how does the client with Juvenile Diabetes purchase life insurance? The answeris not simple. Many carriers will not insure type 1 diabetics. The underwritingguidelines simply put these individuals outside their scope of insurable persons.While this complicates insurability, it does not mean the type 1 diabetic isuninsurable. The type 1 diabetic should only apply to those carriers whoseguidelines allow for “table ratings” sufficient to accommodate the juvenile diabetic. Table ratings are premiums above standard or preferred ratings and are used toaccommodate risk associated with various illnesses, build and other factors that canaffect insurability. Type 1 diabetics should make sure that their blood sugar levels are under control. This is important not only for insurance, but for the diabetics’ well being. Most

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