Life Insurance for Diabetics

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Can someone with diabetes get life insurance coverage?

Yes, many applicants with diabetes can qualify for life insurance. People with well-managed conditions and who are generally healthy can find affordable life insurance.

If you have a chronic condition like diabetes, it is even more critical to protect your family in an emergency.

Costs Of Life Insurance For Diabetics

Generally, life insurance for people with diabetes costs more than for those without it. This is because life insurance companies look at how long they expect you to live when setting your rates. A chronic health condition like diabetes usually means a shorter lifespan.

Your type of diabetes can also affect how much you pay for life insurance. The good news is that if you manage your diabetes well, you may still get a competitive insurance price. Here are some examples of how the cost can be different for people with different types of diabetes.

Life Insurance For Type 1 Diabetes

Life Insurance Rates For Type 1 Diabetes

People with Type 1 diabetes need to take insulin through a pill or a shot. Because of this, life insurance for people with Type 1 diabetes can be harder to obtain or cost more than for people with Type 2 diabetes.

The younger someone is diagnosed with Type 1 diabetes, the more expensive life insurance will be. This is because the person’s life expectancy may be shorter. However, every person is different, and insurance companies will look at your profile to find a fair rate. The cost of life insurance for diabetics depends on age, blood sugar levels, diet, and exercise habits, how well you take your medication, and whether your diabetes has caused any health problems with major organs.

Life Insurance Rates For Type 2 Diabetes

People with Type 2 diabetes, who make up about 95% of all people with diabetes in the U.S., often pay less for life insurance than people with Type 1 diabetes. This type of diabetes generally develops in people aged 45 or older, but it is becoming more common in children and teenagers.

Type 2 diabetes is when your body doesn’t use insulin properly. This causes your blood sugar levels to go up. Many people can control their diabetes with medication instead of using insulin. This is often seen as being easier to manage. That’s why life insurance companies often offer more competitive rates to people with this form of diabetes. However, some of the risks for Type 2 diabetes, like being overweight and complications like heart or kidney disease, can also increase costs.

How To Increase The Chances Of Getting Life Insurance Coverage

If you are looking for life insurance for diabetics, finding the best life insurance policy that fits your needs and budget is essential. You can do this by making simple lifestyle changes that will help improve your health and make you look like a less risky investment to the insurance company.

  • Eat Healthily And Exercise Regularly
  • Stop Smoking
  • Follow Your Medical Treatment Plan

Use our life insurance quote tool to get a free quote today

Best Life Insurance For Type 1 Diabetes

Underwriting Factors In The Decision Process

  • Type of diabetes
  • Age of the applicant
  • Age at diagnosis
  • Blood sugar and glycohemoglobin levels (HbA1C)
  • Compliance with treatment
  • Kidney function test and urinalysis results
  • Tobacco use
  • Presence of other health concerns, including cerebrovascular disease, coronary artery disease, neuropathy, retinopathy, nephropathy, obesity, and peripheral vascular disease.

Insider Tips

Insurance underwriters view Type 1 diabetes as a more serious condition compared to Type 2, which can often be rated just below Preferred rates. The primary determinant in setting life insurance premiums for individuals with diabetes is the A1C reading.

A1C LevelCategory
5.4 and underNormal
5.5 to 5.9Pre-diabetes
6.0-7.5Controlled diabetes
7.6-8.5Average controlled diabetes
8.5-10Poorly controlled diabetes
10.1 and upVery high (automatic decline for some companies)
11+Very high (automatic decline for nearly all companies)
For fully underwritten insurance policies, companies typically set the maximum acceptable A1C level at 10.9; any reading above 11 is grounds for automatic decline by nearly all companies. It’s also important to note that even small variances in A1C levels, such as an increase from 7.5 to 7.8, can significantly impact the insurance underwriting decision.
  • Co-morbidities like obesity and heart disease may complicate underwriting but could still result in a policy offer.
  • An earlier diagnosis of diabetes is given more weight by insurance companies when determining rates.
  • The dosage of insulin used is not considered during the insurance underwriting process.

Underwriting Life Insurance Pre-Diabetes

Underwriting Life Insurance for Diabetics

Best Life Insurance Companies For Diabetics (We Recommend)

If you have been diagnosed with diabetes, you may wonder if you can still get life insurance.

  • The good news is that United Home Life offers whole and term life insurance policies to people with diabetes without a waiting period.
  • You can get up to $50,000 in coverage; the company does not ask about your diagnosis, type of diabetes, or A1C reading.
  • United Home Life is a reputable company that has been in business since 1948 and is rated A-.

Whether you are looking for whole life insurance or term life insurance, United Home Life is a great option for diabetics.

Contact us for a free quote today

Diabetes Life Insurance Quotes

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Frequently Asked Questions

What Is Type 2 Diabetic Life Insurance?

Type 2 diabetes life insurance is a type of life insurance policy that is designed for individuals who have been diagnosed with type 2 diabetes. This type of insurance takes into account the individual’s medical history and current health status, including their diagnosis of type 2 diabetes, when determining the terms and conditions of the policy.

Can I Qualify For A Permanent Life Insurance?

If you have a mild to moderate diabetes diagnosis, you can qualify for a term life insurance or permanent life insurance policy. However, those with severe diabetes with complications could benefit from guaranteed issue life insurance (but this type of insurance comes with its own disadvantages we described above).

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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