How Can I Preclude Life Insurance Blacklisting With Diabetes Ii?
Tuesday, January 19th, 2010I have a case of Type II Diabetes and I have found that qualification for life insurance requires a blood test. Based on blood testing, companies will charge much more if a person has Type II Diabetes. I was wondering if there is some way to fool the company to make them believe that I am normal. Perhaps I could work out just before the test?
Diabetes Living says:
January 20th, 2010
12:20 am
My wife has worked for several life insurance companies and worked for one for 23 years. She’s now in surety bonds but keeps in touch with many people in the industry.
First off, if you lie on the application, you void the coverage. A life insurance application will ask about Diabetes. You won’t fool anyone but yourself. Second, the blood test won’t show Diabetes if you are in control on your blood glucose. Third, for many companies, you authorize them to obtain your medical records and many of those are held by your health insurance company and they are very willing to share authorized requests for data, most are interrelated in one way or another, owned by same parent company, using the same re-insurance company, etc. so its beneficial for all insurance companies to keep claims down.
There are some insurance companies that realize that in-control Diabetics live a healthier life than most other people and are beginning to price their policies accordingly and at least bringing them down to close to the same costs as a non-diabetic person. Shop around and find one of those companies. Get copies of your last few years A1C scores and show them that you are in control and therefore a good risk. This way, you’ve been up-front and honest and they can’t void your coverage for insurance fraud.
Michael M says:
January 20th, 2010
2:08 am
Most insurance companies will obtain your medical records and will find out anyway.
Also as others have mentioned you are essentially committing insurance fraud, which is a felony. At the very least, if something happens to you the company won’t pay out the benefits and leaving your loved ones who were counting on that money in a bind.
Just be honest and try to get the best rate that you can. Talk to an independent agent that can deal with multiple companies and has knowledge of the different underwriting guidelines. Some companies will give very good rates to type 2 diabetics.
zygote22 says:
January 20th, 2010
8:04 am
I would be amazed if you could even try to fool the insurance company without voiding any coverage you might obtain as a result. Your proposal goes beyond the routine language in most policies about “failure to disclose existing medical conditions”. Instead of merely keeping quiet about your diabetes (which by itself would void your policy), you are actively trying to hide the condition.
Carlisle says:
January 20th, 2010
9:16 am
Would that not be fraud? Then what would happen when you die and your family is denied the benefits?