JDRF Piedmont Triad Chapter-Family Chatter Newsletter Article

As Seen in the Piedmont Triad Chapter Fall Issue of “Family Chatter”

New developments in
Life Insurance and Long-Term Care Insurance
for people with type 1

by Danny Mensh
Board member – JDRF Piedmont Triad Chapter, and Owner – Mensh Insurance Agency

In the simplest terms, “insurance” provides a contract between an insurance company and the person it insures. For most people, the concept of insurance—and the process of securing it—is fairly straightforward and clear. However, for people with a chronic illness or a disease that requires daily monitoring and maintenance, the topic of insurance becomes far less clear and perhaps even downright sickening.

All too often, those with type 1 have fallen into “pre-determined” categories of “declination”; solely on the basis of their diabetes, they simply haven’t been able to get what their neighbors or friends have secured. While there are solid actuarial reasons for how insurance carriers have dealt with chronic conditions in the past, we finally have good news to report. Some of the barriers have come down, and it’s time for many with type 1 to start looking at insurance as a valuable financial planning tool that finally may be available to them.

For example, due to current medications and proven stability among people with type 1, we have found several major carriers that are now willing (under certain circumstances) to underwrite and issue both Long-Term Care Insurance and Term Life Insurance policies. Without going into all of the underwriting criteria, here are some of the basics:
• Controlled A1c<8
• < 60 units of Insulin
• Controlled Height/Weight
• Average Fasting Blood Sugar <200
• Blood Pressure < 140/90
• No TIA’s within past 5 years
• No Smoking within past 2 years
• No cardiac complication or Retinopathy associated with Eye impairments
• No Chronic Steroid usage
While it is still undeniably frustrating to be judged by an insurance company, we are finding a major shift—from an automatic “No, thank you,” to “Sure, we’ll take a look and issue if you meet some important criteria.”

Unfortunately, many will still be unable to secure Life Insurance to replace lost income and protect debt or Long-Term Care Insurance to pay for in-home, community, or facility-based care for prolonged healthcare needs. However, many people with type 1 are very stable and can easily demonstrate via medical records that they should qualify for approval from major insurance carriers.

If you fall into the category that has routinely flipped the magazine page when you see an advertisement for LTC or Life Insurance, go ahead—read the ad! And then go ahead and see if you qualify.

If you have any questions, please call the Piedmont Triad Chapter office at (336) 373-1768.

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