Can Diabetics Get Life Insurance?

Getting the best life insurance for diabetics can be tricky. Most individuals with diabetes can get coverage; however, you will have to be able to show you have controlled A1C levels, no history of diabetic coma or insulin shock.

The type of diabetes, type 1 or type 2, will influence the ability to get covered as well. A diabetic is considered a High-Risk applicant, buying life insurance for someone with diabetes is a complex, often misleading and almost always frustrating effort if you have an agent who does not know the carriers underwriting guidelines.

The good news is this: We understand the seriousness of this condition – we advise clients who have diabetes – and we have the independence and proven ability to identify the best life insurance rates for a man or woman fighting this disease.

We also know that, based on reports published by the Centers for Disease Control and Prevention (CDC), more than 29 million Americans have diabetes (Type I or Type II). Approximately 12 million of those individuals are 65 or older. Disease-related complications include blindness, amputation (of the feet or legs), heart attack, stroke or death.

Botley Life Agents is your guide for buying life insurance if you have diabetes because we take the time to review your medical history – we search for any favorable factors that can reduce the price you will pay for life insurance – so you can have the coverage you want, and the protection your loved ones deserve.

Still, many life insurance companies deny coverage to applicants with diabetes because these people have one or more of the following complications: High blood pressure, high cholesterol, and obesity – in addition to frequent tobacco use.

So can diabetics get life insurance? Yes, if you have a good agent who knows exactly what they are doing.


Diabetes Underwriting Guidelines

Preparation is essential when trying to secure life insurance for people with diabetes.

Among those applicants who have their blood sugar levels under control, either as a result of sound nutrition or oral medication and among those individuals, aged 50 and over, who are newly diagnosed as diabetic, there is a good chance that these men and woman can qualify for affordable life insurance with standard rates.

This process is simple: The healthier you are, and with blood sugar levels under 100 (or A1C numbers under 7), the more likely you will qualify for a STANDARD life insurance rates.

Bear in mind, too, when getting life insurance there are a number of insurance companies that accept applicants with Type 1 or Type 2 without requiring these individuals to undergo a medical exam. Since we want to find you the most affordable and comprehensive coverage, your answers to the following questions are critical:

  • What type do you have (Type 1 or Type 2)?
  • How old were you when first diagnosed with diabetes?
  • What are your current glucose/hemoglobin levels?
  • What types of medications and dosages were prescribed to you?
  • What is your current height and weight?
  • Are there any other health risks such as high blood pressure, cholesterol, etc?

Possible Outcome and Cost

Type 1

Best case: Table rating 3-4
Typical case: Table rating 5-8
Worst case: Decline (complications, poor or A1C levels not controlled)

Type 2

Best case: Standard
Typical case: Table 2-4
Worst case: Decline (complications, poor or A1c Levels not controlled)

Type 1 Diabetics:

It is hard to get life insurance for a type 1 diabetic. Type 1 cannot be controlled without insulin injections. Securing a policy while taking insulin can be tough. But if your diabetes is well maintained, your chances of approval are greater.

However, you will most likely have a substandard rating, which simply means your monthly cost will be a tad more than the average applicant. For example, a $500,000 20 year term policy could cost about $40 for a standard rated 40-year-old male while a customer with type 1 diabetes can expect to pay 125-200% more per month for a similar policy.

Type 2 Diabetics:

Type 2 is often linked to excess body weight and is usually treated with a prescription pill such as metformin. You have a better chance at obtaining affordable rates with Type 2 if your A1C levels are stable, there are no complications and you are regularly monitored by your physician.

It is important to keep in mind that the assessment of risk is not consistent across all life insurance companies. A high rating from one company doesn’t mean any hope for insurance. Remember, there are many companies that specialize in understanding your certain condition. It’s a matter of shopping around with the right life insurance agent.

Gestational Diabetics:

Gestational is a temporary form of diabetes in women during pregnancy, and can sometimes turn permanent as a type 2 diabetes.

Gestational diabetes is not a significant risk factor for life insurance plans.

Diet and exercise can control this type of diabetes during pregnancy. The concern is the potential for a female with gestational diabetes to have type II diabetes following her pregnancy.

Women with gestational diabetes good chance of getting coverage if you haven’t developed type II diabetes. Some individuals could even see a receive a preferred rate class, though a standard rate class is more hopeful.

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