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Can I Get Life Insurance If I Have Diabetes? | Quotacy's Health Check - YouTube
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Hey everyone, we鈥檙e Jeanna and Natasha from Quotacy,
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an online life insurance agency
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where you can get life insurance on your terms.
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At Quotacy, our goal is simple:
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to make it easy for everyone to buy the right amount
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of life insurance to protect their loved ones.
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Today, we鈥檙e talking about diabetes and
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the impact it has on the life insurance buying process.
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The good news is, just because you have type 1 or type 2 diabetes,
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doesn鈥檛 mean you鈥檒l automatically be declined for life insurance.
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When it comes to diabetes, there are a few key things,
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such as your A1C levels and how well it鈥檚 managed,
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that will dictate how the life insurance companies
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evaluate your application to determine the price you鈥檒l pay.
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However, if you have diabetes,
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you will pay more for coverage than the average
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healthy person that does not have diabetes.
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For example, this graphic shows how diabetes affects
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the cost of a 20-year $250,000 term life insurance policy.
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These quotes are for three 35-year-old males
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who are otherwise completely healthy except
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the man on top has type 1 diabetes,
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the man in the middle has type 2,
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and the man on the bottom has neither.
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To make sure you鈥檙e getting the best possible price,
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work with an independent broker like Quotacy
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because brokers are not tied to one insurance company.
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They can shop the market to find a policy
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that fits your needs and budget.
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Not all life insurance companies evaluate
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health conditions in the same way.
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For example, for diabetes specifically,
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the way companies view A1C levels can vary.
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Let鈥檚 look at another illustration.
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Here is a 65-year-old male.
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He does not smoke and is otherwise healthy
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except he was diagnosed with type 2 diabetes five years ago.
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His A1C level is 6.5.
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He's applying for a 10-year term policy with $250,000 of coverage.
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Insurance Company A offers him Standard,
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putting his price around $227 per month.
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Insurance Company B offers him Standard Plus,
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putting his price around $164 per month.
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Insurance Company C offers him Preferred,
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putting his price at $135 per month.
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This is why working with Quotacy can help you.
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Your agent will anonymously shop the details of your case
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with all the top-rated life insurance companies we work with
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to match you with the company who will give you the best offer.
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This is how it works.
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Once you choose a policy and complete your online application,
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first your dedicated Quotacy agent will introduce themselves,
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and if needed,
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ask a few follow-up questions about your diabetes via email.
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This is to make sure we have a clear understanding of your unique situation
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so we can set realistic expectations upfront.
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It鈥檚 important to mention that we are on your side,
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so the more we know, the better we can assist you.
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From there, your agent will send any and all details you鈥檝e provided
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to our research team that has over 30 years of experience
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reviewing and underwriting life insurance applications.
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If our research team feels that a different insurance company
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other than the one you chose online is going to give you a better price,
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your agent will present some options to you.
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The choice to either stay with your original pick or switch
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is 100% up to you.
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We just want to be completely transparent about your options.
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Whatever decision you decide,
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your agent will be your advocate and keep you updated
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every step of the way through the process.
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It鈥檚 important to note that if you have diabetes,
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online life insurance quoting tools alone
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can鈥檛 give you 100% accurate information.
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There are just too many variables for a computer to calculate.
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If there is a company out there showing you a cheaper price
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than what your Quotacy agent can find,
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that other company is likely only showing you a best-case scenario price
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and not factoring in your diabetes properly.
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There are no coupons or promo codes when it comes to life insurance.
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It鈥檚 all very tightly regulated.
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To find out how much life insurance would cost you,
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head on over to Quotacy.com,
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run a quote and apply right online.
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It takes less than five minutes and there is no obligation to buy.
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If you aren鈥檛 satisfied with the life insurance policy Quotacy finds you,
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you can walk away.
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There is no cost to apply for life insurance.
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No fee to cancel the process.
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And no hard feelings.
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If you want more in-depth information about
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how diabetes affects life insurance pricing,
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check out the blog link in the description below.
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To get your price, we also included a link to our quoting tool.
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Thanks for watching!
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Bye!
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Thanks for sticking around.
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We'd appreciate it if you Liked the video
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and hit that fancy little Subscribe button
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to see us every week.
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Bye!
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