Diabetics Individual can also buy Term Insurance Plans
Term Insurance plans usually cover the risk of an individual after his death. The family receives the assured sum after the demise of the policyholder. But the term insurance companies check the health of an individual before giving any policy. Some individuals have a common problem of high sugar, high blood pressure and many more and that restricts the individual from taking the plan. So, in this article, you can see the best term insurance plan for diabetics individuals. Mostly all the term insurance plans cover the risk of diabetes but their premium may vary. Therefore, you must have a look at the factors that might fluctuate the premiums of the policy taken by a diabetic individual.
Factors that Fluctuates the Premium of the Term Insurance Policy for Diabetics
Before buying any term insurance plan you must have a self-health test for diabetes. See the health factors that might affect the premium of the policy.
Age Diagnosed with Diabetes- The insurance companies check the age at which you are diagnosed with diabetes. The premiums may differ depending upon the age at which the individual is diagnosed with diabetes.
Type of Diabetes
The type of diabetes simply means whether your sugar level is moderately high or extremely high. So the companies measure your body sugar level and if you are having extremely high sugar levels on the consecutive check-ups then the premium of the policy may be high.
Fasting Measurement
The fasting sugar test is usually done when the individual has not eaten anything in the morning. So, the level of fasting tests can also be a factor responsible for the fluctuation in the premium of term insurance.
Any Running Treatment
The insurance companies also check the past health record of the individual before giving the term insurance plan. If you are having any running treatment then the premium of the term insurance plan may vary.
Frequency of Consulting a Doctor
Frequency of consulting a doctor simply means whether you are taking a follow up for the disease or not. If you are having diabetes then you must take necessary precautions to keep the sugar level low. So, having a proper check-up with the doctor is necessary and thus the premium of the term insurance policy for diabetics may vary.
Any other Health Problem
The companies also check the other diseases related to diabetes before deciding the final premium amount. The health issue related to diabetes is kidney problem, heart problems, and many others. So, if you are having any other health problem then the amount of premium for the policy will be high. Therefore consider the above factor before paying the premium for the best term insurance plan for diabetics.
Things to do before buying a Term Insurance Plan
There are some other necessary things that you must notice before taking any health insurance plan.
Compare the Policies Online
As most of the insurance companies are selling their policies online so first you must have an online comparison of all the policies. After comparing all the plans choose the best one for yourself that covers your family risk after you.
Decide your Budget
After comparing the policies, you must also compare the premiums of each plan and what other benefits they are giving with the policy. Choose the term insurance plan as per your budget and only increase your budget if you find that the terms insurance plan is unique from other plans.
See the Insurance Cover
Finally, you must see the sum assured in the policy. The amount of money assured depends on the premium you pay. If you are paying a high amount of premium then your assured sum will increase and vice versa. So, before taking any term insurance plan for diabetic, see the total sum assured in the policy.
Conclusion
Now, you know that almost all the Term Insurance Plan covers the risk of diabetes and diabetic patients can take the plan. But you must go through the factors that affect the premiums of the term insurance and see which factors might affect your amount of premium. There are certain things as well that you must observe before deciding the best term insurance plan for diabetics.