Long-Term Care Insurance and Type 1 Diabetes

by | Apr 1, 2019 | Health Conditions

Long-term care insurance and type 1 diabetes may not seem like they go together. Shopping for a long-term care insurance policy may seem confusing especially if you have type 1 diabetes. Getting long-term care insurance with type 1 diabetes is possible if you work with a long-term care insurance specialist that will help you shop for a policy. 

Can I qualify for long-term care insurance if I have type 1 diabetes?

If you have type 1 diabetes you may qualify for long-term care coverage. Every insurance company has different criteria to determine who they can insure. It’s important to work with an experienced, independent agent who is familiar with the four main types of long-term care coverage. An independent, long-term care specialist can recommend the perfect policy for you based upon your health history.

Which type of long-term care policy should I buy if I have type 1 diabetes?

There are four main types of long-term care coverage: traditional long-term care insurance, long-term care partnership programs, life insurance with long-term care riders, and annuities with long-term care riders. Everyone’s situation is unique. Click here to try our proprietary “Policy Finder” tool (no phone required). It will give you an instant ranking of the four types of policies based upon your answers to a few short questions.

Which type of policy is right for you?

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Will I pay more for long-term care insurance if I have type 1 diabetes?

You will pay more premium for long-term care insurance if you have type 1 diabetes. However, every long-term care insurance company is different. Some long-term care insurers may charge applicants up to 20% more for type 1 diabetes. Other insurers may charge applicants 50% more for type 1 diabetes. That’s why it’s important to work with an long-term care insurance professional who can help you shop around and compare several different policies. 

Can I qualify for long-term care insurance if I have a family history of type 1 diabetes?

Yes, you can qualify for long-term care insurance if you have a family history of type 1 diabetes. Most long-term care insurance companies are not concerned when there’s a family history of type 1 diabetes.

Can I qualify for long-term care insurance if a genetic test shows I may develop type 1 diabetes?

We always advise our clients to apply for long-term care insurance before they get genetic testing. If you have a genetic test that shows you could develop type 1 diabetes, you will probably still be able to qualify for long-term care insurance. To make sure, click here to schedule a 15-minute conversation with one of our long-term care insurance specialists (no obligation). 

If I have type 1 diabetes will I have to take a physical in order to qualify for long-term care insurance?

Some long-term care insurers do not require a physical if you have type 1 diabetes. Most long-term care insurance companies will review your medical records in order to determine if they can insure you. Ask your long-term care insurance specialist what underwriting criteria each company will use before deciding which long-term care insurance policy is best for you.

Can I qualify for long-term care insurance if I’ve already applied for and been denied coverage due to type 1 diabetes?

Long-term care insurance specialists have less than 20% of their applicants declined. Insurance “generalists” have about 50% of their long-term care insurance applications declined. With over 25 years of experience, we can pinpoint exactly which company (and which type of policy) you’ll be able to qualify for. We have about an 80% success rate in helping our clients get approved even if they were previously declined.

If you have type 1 diabetes, a long-term care insurance specialist will ask you the following questions to determine if you can qualify for a long-term care insurance policy and calculate your premium:

When were you first diagnosed with type 1 diabetes?

What prescriptions have you taken in the last year for type 1 diabetes?

Have you ever been hospitalized or required an emergency room visit due to type 1 diabetes? If so, when?

What were your A1c readings over the past 12 months?

Have you used any type of tobacco in the past 12 months?

How many units of insulin do you use, on average, each day?

Do you have heart disease? If so, what kind?

Do you have any carotid artery disease?

Have you ever had a retinal artery occlusion?

Have you ever had a retinal vein occlusion?

Do you have any diabetic complications, like macular edema, neuropathy, numbness or tingling in your extremities or nephropathy?

Do you have retinopathy? If so is it mild and non-progressive?

Have you had any skin ulcers or amputation due to diabetes?

Have you ever had a stroke or a mini-stroke, also known as a Transient Ischemic Attack (T.I.A.)

Have you ever had a stroke, also known as a Cerebral Vascular Accident (C.V.A.)

Request a 15-minute phone call from an LTCi specialist. No obligation.

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