Life Insurance for Diabetics

Eric Van Haaften Life Insurance with Pre-existing Conditons

Living with diabetes can be challenging, and finding affordable life insurance can also be problematic.

However, securing the coverage you need to protect your loved ones is crucial in case something happens to you.

Fortunately, many companies specialize in providing life insurance to diabetics.

Here are some helpful tips for finding the best life insurance policy for individuals with diabetes.

quick navigation links

Life insurance for diabetics
Applying for a life insurance policy
Diabetic case studies (well-controlled vs. moderate control)
Types of life insurance
Buying tips for people with diabetes
Diabetic life insurance rates

Life Insurance for Diabetics

If you currently have diabetes, you certainly are not alone! In 2024, it has been estimated that over 34 million Americans currently have type 2 diabetes.

That’s more than 10% of the population! And out of those 32 million, a good chunk is not even aware that they have the disease.

The scary thing is that diabetes is one of America’s leading causes of death. It can lead to heart disease, stroke, blindness, and kidney failure.

The rising rates of diabetes in the United States have led to a higher demand for diabetic life insurance.

So, can I get life insurance as a diabetic?

Most insurance companies use a glycosylated hemoglobin (A1C) test to measure how well you manage your diabetes. The lower your A1C level, the lower your premium will be for coverage.

If you cannot maintain a low A1C level, you may not be able to get life insurance!

Managing your diabetes is essential to getting the best life insurance rates possible.

However, it is often difficult to know precisely the premiums you will pay until your policy goes through the underwriting process.

Anyone considering diabetic life insurance should consult with one of our independent agents, who can compare rates from various insurers.

The risk classification the life insurance company gives you is the key to finding cheap life insurance for people with diabetes.

Our goal is to find you a “diabetic-friendly” company that will save you the 25-50% increase in cost associated with a substandard rate class.

The Life Insurance Rate Classifications

Preferred Plus	Table A = 25% above standard rates
Preferred	Table B = 50% above standard rates
Standard Plus	Table C = 75% above standard rates
Standard	Table D = 100% above standard rates

Life Insurance with Pre-Diabetes

What is astonishing is that 87 million people in the United States may have pre-diabetes, according to the American Diabetes Association.

If you have been recently diagnosed with pre-diabetes, you may be wondering if life insurance is an option for you.

If you don’t have life insurance, now is the time to lock in coverage before your medical condition gets more serious.

Pre-diabetics in good health under direct doctor supervision can always get a reasonable rate on coverage.

In some cases, you can still obtain a preferred rate class, provided you’re controlling your diabetes with your diet and following your doctor’s advice.

Diabetes Controlled by Diet

As a person with diabetes, you know that maintaining blood sugar levels is key to your overall health.

But what you may not know is that your diet can also significantly impact your life insurance rates.

Many folks with adult onset can control their condition without taking any medications.

The good news is that many life insurance companies are happy to offer coverage to people with diabetes as long as they observe their diet.

Controlling your condition with a strict diet may help you qualify for a preferred or standard rate.

Life Insurance for Diabetes Type 2

If you have diabetes, staying healthy by taking medication, eating right, and exercising regularly is helpful.

Thankfully, buying life insurance for people over 50 with adult-onset type 2 diabetes is also possible.

Many life insurance companies usually view people with type 2 diabetes well controlled with medication as standard risk.

You will typically receive an insurance rating similar to someone in average health without diabetes.

The insurers typically offering standard rates for well-controlled diabetics are Protective Life, Pacific Life, and Prudential.

Some companies have even changed their rules and will now offer standard plus ratings if you are not a smoker, overweight, and have an excellent medical history.

American General and Banner Life are more liberal underwriting and offer a standard plus rate class to well-controlled diabetics.

Both American General and Banner Life also offer lower substandard rates for diabetics who are heavier and are struggling to keep their A1c in check.

Life Insurance for Type 1 Diabetes

Getting a decent rate for life insurance for type 1 diabetics is a little more complicated. However, carriers are becoming more aggressive and offering better rates each year.

Most life insurance offers for type 1 diabetes will be issued with a substandard rating, which is a higher premium.

Only on a rare occasion will an applicant with Type 1 Diabetes qualify for a standard rating.

Some companies will outright decline all people who have Type 1 diabetes.

For instance, if you have been diagnosed with diabetes at a younger age, many companies will not even consider coverage.

People with type 1 diabetes controlled through insulin therapy from an early age will benefit from using a simple or guaranteed issue product without taking an exam.

How Much is Life Insurance for Diabetics?

Select Duration
Select Amount
Press Get Quote

Applying for Diabetic Life Insurance

People seeking life insurance after a diabetic diagnosis should be prudent and use only niche carriers familiar with the risk factors presented in underwriting people with diabetes.

Can I find affordable coverage without doing a medical exam?

A few companies do not require an exam, provided you only have Type 2 diabetes.

However, the premiums may be more expensive because the insurance company cannot measure your risk factors accurately.

This is why we usually recommend that you take a medical exam with only companies using clinical underwriting.

Clinical underwriting considers your overall medical history and control level when applying for coverage.

Insurance companies that do not use this underwriting philosophy automatically issue a substandard rate to most applicants treated for diabetes.

So, we suggest following our step-by-step program if you need life insurance and have a medical condition.

underwriting life insurance with diabetes

How clinical underwriting works:

First, your medical history is evaluated to determine which company may be best suited for your diabetic condition.
Then, we start the application process by having you complete a life insurance blood pressure test, urine and blood sample, and height and weight measurement.
Please also try to have the following medical information put together for your nurse:
- Have the name, address, and phone number of the doctor treating your diabetes.
- Check with your physician to ensure they have all the documentation for your treatments.
- Keep a current list of all medications and the dosage for each prescription.
Then, we order the required medical summary, including your follow-up on your diabetes, from your regular doctor.
Finally, your medical profile is presented to multiple life insurance companies to determine which can offer you the best rates.

Taking these critical steps, combined with a clinical approach to underwriting your policy, allows us to secure a reasonable offer that you can live with.

It is vital to work with an agile independent agency with knowledge of diabetic underwriting, which is not typically found in big call centers like Accuquote, Select Quote, and Matrix Direct.

⊕

Case Study #1:

Diabetes with Excellent Control

Here is a practical example illustrating the difference in price between two companies assuming excellent control.

Ronald applies for a $500,000, 2o year term life insurance with diabetes when he is 62 years old.

Diagnosed with diabetes at age 55
A1C level 5.8
His condition is controlled by diet only (no medication)
Routine follow up appointments with his doctor
No other medical history
Underwriting decision: Approved at a standard rate class
Premium: $5,900 annually

	Company A	Company B
Rate Class	Standard Rate	Table 2 Rate
Premium	$5,900	$9,023

Company A applies clinical underwriting and issues, Ron, a policy with standard rates, while company B only permits a sub-standard rating.

Wow, that is close to $3,0000 in savings per year for Ron, with nearly $60,000 in savings over 20 years!

⊕

Case Study #2:

Diabetes with Moderate Control

Here is another example illustrating the difference in price between two companies assuming only moderate control levels

Tina applied for term life insurance with diabetes when she was 55 years old.

Diagnosed at age 52
A1C level 7.5
Diabetes kept in check with medication
Routine follow up appointments with her doctor
No other medical problems
Underwriting decision: Approved at a Table 2 rate class
Premium: $1,229 annually

	Company A	Company B
Rate Class	Table 2 Rate	Table 4 Rate
Premium	$1,229	$1,823

Company A applies clinical underwriting and issues Tina a policy with only moderate sub-standard rates!

Types of Life Insurance for Diabetics

There are a few different types to choose from when it comes to life insurance.

Depending on your needs, one type of policy might be better suited for you than another. Here is a rundown of the most common types of life insurance policies:

1. Term life insurance is the most basic type of insurance policy. It lasts for a set number of years (usually 10-30 years) and pays out if you die during that period.
2. Permanent life insurance doesn’t have a set expiration date like term life insurance. It lasts your entire lifetime and can also be used as an investment vehicle.

Term life is cheaper because it only covers a specific need for a fixed period, while whole life insurance is more expensive for people with diabetes and is guaranteed for life.

We always recommend locking in your term insurance rates for as long as possible or buying permanent life insurance for your entire lifetime.

Tips for Buying Diabetic Life Insurance

If you were recently diagnosed with diabetes, we suggest waiting at least six months to allow any potential policy to be based on a track record of control.
Long-term diabetics should ensure their A1C is under eight before applying for coverage.
Apply for a diabetic life insurance carrier policy that uses “clinical underwriting.”
Shop online, by phone, or through referrals to find an experienced agent.
Life insurance rates are based on age and health, and you should purchase the largest amount you can afford while you can still qualify for coverage.
Type 2 diabetics have a better chance of getting affordable diabetic life insurance rates when taking an exam.