Tag Archive for: life insurance policy

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All You Need to Know About Life Insurance for Diabetics

If you are a diabetic, you may have concerns about whether or not you qualify for life insurance. When you have questions, your agent will help you find the answers you need.

Diabetes is a serious medical condition. There are two types of diabetes, Type 1 and Type 2. With today’s medical advancements, individuals with either form of diabetes are living longer, more productive lives. Understanding how to manage your condition is the first step in reducing your risk of a life-threatening event. Individuals with both types of diabetes are now eligible for various types of life insurance policies. The key is working with both your doctor and your insurance agent to ensure everyone is on the same page and that you can manage your condition properly.

Are Diabetics Eligible for Life Insurance?

Advancements in medical treatment have made it possible for diabetics to be eligible for life insurance. The ability to properly manage your diabetes through diet, medication and insulin has dramatically reduced the risk of life-threatening events. Insurance companies are now more comfortable than ever in offering diabetic patients the life insurance coverage they deserve. If you are diabetic and interested in learning more about life insurance, you should immediately reach out to your insurance agent to see what they have to offer.

What Factors Are Considered?

Several factors are considered when determining if a diabetic person is eligible for a life insurance policy. These factors include:

  • A person’s age
  • The type of diabetes they have been diagnosed with
  • The severity of their condition
  • Their treatment plan and whether or not it is under control

An extensive review of a person’s medical records may be required. Keeping your agent up to date on what is going on with your health is extremely important. Maintaining control of your diabetes is easier now than it has ever been before. If you work with your doctor and report any changes to your insurance agent, you will be able to live with your condition and have the life insurance you need to protect your family.

The Overall Cost

When covering patients with diabetes, especially Type 2, there are two types of coverage you have to consider.

  • Standard
  • Preferred

A standard policy is more expensive and is often easier to get if you are younger. It isn’t as outrageously priced as many people think. Older individuals may be more likely to qualify for the preferred life insurance policy options. To make the right choice, you will have to go over your options carefully with your insurance agent. Understanding the difference between the two policies is important. Asking questions as they arise will also help you to make an informed decision.

You can get affordable life insurance even if you are a Type 2 diabetic. Understanding the risks involved with diabetes and also knowing how to properly manage your disease will help you get a policy you can afford. If you need assistance with your life insurance coverage, contact the experts at James Page Insurance. We’re always available to answer all your insurance-related questions.

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Life Insurance for Kids: What You Need to Know

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life-insurance-for-kids-what-you-need-to-know

Parents have different opinions when it comes to buying a life insurance policy for their kids. While some believe it’s a great financial tool to protect a child’s future, others doubt whether it is required.

Before making your final decision, go through the advantages and disadvantages of buying a life insurance policy for your kids.

Advantages 

The Earlier, the Better

A child with a chronic disease may not be eligible for life insurance later. If you have a history of congenital conditions in your family, you might want to insure your child early. Once they are insured as a healthy child, they will be covered for the entire policy’s duration even if they fall sick later on.

Future Financial Protection

Most child life insurance policies are whole life policies that come with a savings account. Along with low premiums, your child will also benefit from the savings they can access for future needs or emergencies.

Coverage for Unexpected Expenses

A life insurance policy can provide you cash to cover the unexpected medical and other expenses. The policy will ease your burden during financial difficulty.

Disadvantages 

Unnecessary Expense

Life insurance is ideally taken by the breadwinners of the family to protect their families after death. Children rarely earn any income to support their families, which minimizes the need to have them covered. Besides, the cost of losing a child cannot be covered.

Alternative Saving Options

Experts who advise against purchasing a life insurance policy for kids say that such plans are outdated, and there are better options for protecting your child’s future.

Consider the requirements and your financial stability before buying a life insurance policy for your kids. To learn more about life insurance, contact the experts at James Page Insurance today. We can help you find the right insurance policy that meets your coverage needs and budget.

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