Have you been denied life insurance due to living with diabetes? Or have you considered buying a life insurance policy for people living with diabetes but been discouraged by the high cost?
If you live a healthy and active life, it can seem really unfair that your diabetes should play a role in whether you can obtain life insurance coverage and how expensive it should be. People living with diabetes can live long, healthy, and full lives, so they should get affordable life insurance coverage.
That’s why I jumped at the opportunity to write about Health IQ and Protective Life’s new life insurance product for people living with diabetes.
Health IQ and Protective Life offer the first life insurance specifically for people living with diabetes that takes lifestyle into account. This new offering is specifically for people living with type 2 diabetes, but Health IQ hopes to model a similar plan for people with other types of well-managed diabetes in the future. Individuals with type 1 diabetes can still secure coverage with Health IQ through a variety of carrier partners.
This post is sponsored by Health IQ but all opinions are my own.
How the Health IQ life insurance plan for people with diabetes works
Health IQ actually started as a company doing quizzes for people living with diabetes. This gave them health data from millions of people living with diabetes and proved that people with type 2 diabetes who exercise, eat a healthy diet, and in general manage their diabetes well, only have a slightly higher mortality rate than the average population.
This is what allows Health IQ to create a life insurance program specifically for people living with diabetes.
The product works by asking you to take the Health IQ Diabetic Quiz and showing evidence of self-management or activity tracking through a variety of options:
- Verify your A1c (average blood sugar)
- Take a medical exam (in your own home)
- Take the Health IQ and Diabetes IQ quizzes
- Track physical activity with an app, through gym memberships, etc.
Based on your answers and lifestyle, Health IQ can create a more personalized life insurance option with significant savings over traditional life insurance for people with diabetes.
I really like the idea of a product based on how YOU live your life and manage your diabetes rather than just the average of everyone living with diabetes in the United States!
You of course always have the option of buying a no-exam life insurance plan or a guaranteed issue insurance policy without having to discuss your diabetes with the insurance provider. The benefit of those plans is that they cover everyone, but the downside is that they are often are very expensive.
To figure out if you qualify for a Health IQ plan, simply answer a few questions on the Health IQ website and leave your contact information. An insurance agent will get back to you to discuss your insurance needs.
I really look forward to doing this myself when there is a more specific product for people with type 1 diabetes!