How To Get Life Insurance With Diabetes [2024]
How to get term life insurance with diabetes starts by finding a good provider with low rates. Term life insurance coverage for a diabetic can be found with rates as low as $11/mo if you are carefully managing your symptoms. Get a free customized rate right now using our free rate tool below and get a head start that can save you money on your life insurance coverage and secure your family for the future.
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Joel Ohman
Certified Financial Planner
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...
Certified Financial Planner
UPDATED: Sep 16, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Sep 16, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- It’s possible to get term life insurance for people with diabetes, although it may be more costly
- Proper maintenance of diabetes can help you get approved for an affordable life insurance policy
- Some companies offer better rates than others on life insurance coverage for diabetics
Thousands of people will apply for term life insurance quotes with diabetes this year. And for those people, the outcomes of their applications will vary widely.
Term insurance for people with diabetes can be costly but there are ways to improve your chances of being approved for the best rating class with the lowest premium possible.
How? You first need to understand how life insurance companies handle term life insurance with diabetes. What do they look for? How can you prepare? What is the likely outcome?
In order to truly understand your life insurance options whether you are shopping for term life insurance for diabetics or whether you are just shopping for insurance that will secure your family’s future, get affordable term life insurance rates with diabetes by comparing quotes from our free rate generator. Get connected with a top affordable life insurance company and low term life insurance rates with diabetes right now.
The Impact of Diabetes on Your Term Life Insurance Policy
When you apply for a term life insurance policy, you will have to take a medical exam. During this exam, you will be asked questions about your family history, medical history, lifestyle, and smoking and alcohol usage. The person administering the exam will measure your height, weight, pulse, blood sugar levels, and blood pressure.
Before you worry about rate classes and qualifying for various rates, take a look at the table below to get a sense of how much you might pay for quality term life insurance.
Term Life Insurance Monthly Rates by Age, Gender, & Coverage Amount
Age & Gender | $100,000 Policy | $250,000 Policy | $500,000 Policy | $1,000,000 Policy | $500,000 Policy, Male | $500,000 Policy, Female |
---|---|---|---|---|---|---|
25-Year-Old Male | $15 | $19 | $30 | $48 | $23 | $19 |
25-Year-Old Female | $14 | $15 | $23 | $34 | $24 | $19 |
35-Year-Old Male | $18 | $21 | $29 | $49 | $24 | $19 |
35-Year-Old Female | $17 | $15 | $23 | $37 | $29 | $24 |
45-Year-Old Male | $30 | $40 | $57 | $103 | $36 | $33 |
45-Year-Old Female | $27 | $35 | $44 | $78 | $54 | $47 |
55-Year-Old Male | $78 | $90 | $149 | $268 | $79 | $62 |
55-Year-Old Female | $66 | $70 | $108 | $194 | $79 | $95 |
65-Year-Old Male | $188 | $230 | $373 | $612 | $213 | $144 |
65-Year-Old Female | $151 | $180 | $300 | $500 |
It’s important to note how much cheaper insurance rates are at younger ages. If you have a family history of people with diabetes, securing a rate earlier can make it easier to qualify and help you lock in low rates.
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What do life insurance companies look for?
Life insurance companies are concerned that people with diabetes are taking the proper precautions to keep it under control. A medical history of regular physician checkups is important to the company.
The life insurance company you apply with will be looking specifically at:
- When you were diagnosed
- What your type of diabetes is
- Age at diagnosis
- Course of disease
- Response to treatment
- What steps you have taken since your diagnosis
- The degree of control as illustrated by medical records, height/weight, and, lab test results
- What type of treatment
- Any other medical conditions present
- Whether you are a tobacco user
The table below provides some loose guidance on which rate class you might qualify for with particular medical conditions.
Read more: Life Insurance Illustration (Terms Explained)
Life Insurance Rating Classes for Specific Medical Conditions
Medical Conditions | Preferred Plus | Preferred | Standard Plus | Standard |
---|---|---|---|---|
Alzheimer's | No | No | No | No |
Anxiety/Depression | No | Yes | Yes | Yes |
Asthma | No | Possible | Yes | Yes |
Cancer | No | No | No | Yes |
Crohn's Disease | No | No | Possible | Yes |
Epilepsy/Siezures | No | Possible | Yes | Yes |
Headaches | No | Yes | Yes | Yes |
Heart Disease | No | No | No | Yes |
Hepatitis A & B | No | Possible | Yes | Yes |
Hepatitis C | No | No | No | Yes |
Kidney/Liver Disease | No | No | No | Yes |
Lung Disease | No | No | Yes | Yes |
Lupus | No | No | No | Yes |
Multiple Sclerosis | No | No | No | Possible |
Rheumatoid Arthritis | No | No | No | No |
Sleep Apnea | No | No | Possible | Yes |
Stroke/TIA | No | No | No | Possible |
Tuberculosis | No | No | No | Yes |
Type I Diabetes | No | No | No | No |
Type II Diabetes | No | No | Possible | Yes |
Of course, each application goes through a complete underwriting process and outcomes can vary from individual to individual.
Read more:
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- How To Get Life Insurance With Bipolar Disorder
- How To Get Life Insurance With Hepatitis
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How to Prepare for Your Term Life Insurance Application When You Have Diabetes
No matter the type of diabetes you have, there are important measures you can take to prepare yourself before applying for term life insurance. Doing so will help your chances of getting approved for the best rating class possible. Use the following tips to put yourself in the best position to win:
- Have all doctors’ name/address/phone available.
- Make sure your doctor(s) has copies of all records regarding the cancer treatment, pathology reports, and follow-up reports.
- Have a list of all medications and their dosages available.
- Do not skip any follow-up visits with your doctor.
Life insurance for diabetics in the U.S. might be more difficult to come by depending on the severity of the disease, but it is definitely possible to if you work hard to manage your symptoms with diet, exercise, and close management with your doctor.
Is diabetes covered under insurance?
If you have been diagnosed with diabetes you probably have a few specific questions. The most urgent is, which health insurance is best for your type of diabetes? Diabetes care can be expensive, but the good news is that most states mandate that diabetes care supplies be covered by insurance.
After that, you might want to figure out who are the best life insurance companies for type 2 diabetes. Since diabetes is so prevalent in the U.S., most companies will compete for customers with diabetes, but you will need to do your homework.
We’ve helped thousands of people apply for term life insurance, and many of those people had diabetes. Here are a few things we’ve learned:
- Premiums are lower for those who diet and exercise or keep their diabetes under control with medication.
- It’s also important to consider which of the health insurance for diabetics is best. You want to ensure that you have preventative care options that can prevent diabetes or at least manage milder symptoms with diet and exercise.
- Premiums are higher for those who do not follow up with a doctor regularly.
- We recommend getting a policy in force first at a premium rate you can afford. You can then focus on improving the rating class through better control or lab results.
Finally, know what type of plan you need for your lifestyle. If you are looking to just secure a low-cost plan, you can stick to finding term life insurance quotes and providers and use our free quote tool to get started.
If you are looking to build cash value and are willing to pay more for whole life insurance in order to build value for your family in the plan, you can look at whole life insurance for diabetics.
In fact, you may have a child with type juvenile diabetes and may want to investigate and options that provide whole life insurance for type 1 diabetes.
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Term Insurance for a Diabetic Person: Real Examples From Real Customers
Good Outcome
Don applied for Prudential Life insurance term life plan when he was 56 years old.
- Diagnosed at age 50
- A1C level 6
- Condition kept stable through diet
- Positive results from follow-up appointments with doctor
- No other medical conditions
- Outcome: Approved at a Standard rating class
- Premium: $509.00 annually
Not So Good Outcome
Sara applied for term life insurance when she was 45 years old.
- Diagnosed at age 42
- A1C level 7
- Condition kept stable with medication
- Positive results from follow-up appointments with doctor
- No other medical conditions
- Outcome: Approved at a Table 4 rating class
- Premium:$1,303.00 annually
Poor Outcome
Jerry applied for term life insurance when he was 38 years old.
- Diagnosed at age 34
- A1C level 10
- No treatment as Jerry did not believe he had diabetes
- Has not seen her doctor in over two years
- No other medical conditions
- Outcome: Denied life insurance because of diabetes
You can see Don had the best outcome, due to a low A1c level that was caught early and treated. Being over age forty and having regular follow-up appointments with his doctor also helped.
Sara’s diabetes is more severe and, although she had no other medical conditions and good follow up appointments, her disease being slightly less under control gave her a slightly worse prognosis.
Finally, Jerry was the youngest of the group when he was diagnosed. However, his lack of routine follow-ups resulted in his application being declined.
What is Diabetes?
Diabetes mellitus is the clinical term for diabetes. It is a group of metabolic diseases that occurs when the pancreas does not produce sufficient insulin or the cells of the body to not respond properly to the insulin produced. This results in high blood sugar in the affected individual.
There are three main types of diabetes:
Type 1 – Insulin-Dependent Diabetes Mellitus (IDDM) or Juvenile-Onset Diabetes
- The pancreas is not capable of producing insulin.
- The body’s immune system destroys the pancreas’ beta cells, which are needed to make insulin.
- Insulin must be injected into the body by a pump or manual injection.
Type 2 – Non-Insulin-Dependent Diabetes Mellitus (NIDDM) or Adult-Onset Diabetes
- This is caused by a resistance to insulin in which the body’s cells fail to use insulin properly.
- As a result, the pancreas gradually loses its ability to make insulin.
- This is the most common form of diabetes. 90-95 % of all adult diabetes cases are type 2.
Gestational – Glucose intolerance during pregnancy
- This is usually temporary and resolves after the pregnancy ends.
- The high glucose levels during pregnancy may cause the actual development of permanent type 2 diabetes.
Diabetes Statistics
As of 2012, the following numbers show the significance of diabetes:
- An estimated 29.1 million Americans have been diagnosed with diabetes.
- 1.4 million Americans are diagnosed with diabetes every year.
- Another 57 million have prediabetes, which means they are at risk of developing the condition.
- It is estimated that 65 percent of those with diabetes will die of a heart attack or stroke.
In fact, diabetes is so pervasive, the American Diabetes Association has set up a community to help people raise awareness on how to prevent or fight diabetes. The American Diabetes Association provides fundraising tools to help support people with the disease.
American Diabetes Association life insurance donations are a great way for people to help. For people who aren’t ready to make a charitable donation now, naming the American Diabetes Association as a beneficiary to a charitable trust or insurance policy can be a great way to help the cause after you’re gone.
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Case Studies: Term Life Insurance With Diabetes
Case Study 1: Good Outcome
John, a 52-year-old individual with well-managed diabetes, applied for term life insurance. He diligently followed his doctor’s recommendations, maintained a healthy lifestyle, and had regular check-ups. As a result, he secured a favorable rating class with lower premiums.
Case Study 2: Not-So-Good Outcome
Sarah, a 42-year-old with diabetes, applied for term life insurance. While she managed her condition, her A1c levels were slightly higher, indicating less optimal control. As a result, she received a slightly higher premium compared to individuals with better-controlled diabetes.
Case Study 3: Poor Outcome
Mark, a 35-year-old with diabetes, applied for term life insurance. Unfortunately, he had irregular doctor visits and struggled with managing his symptoms effectively. Due to his lack of consistent medical care, his application was declined by the insurance company.
The Bottom Line: How can I get life insurance With diabetes?
The good news about applying for term life insurance when you have diabetes is — yes, you can qualify for coverage. The bad news is the approval, and rating class can be very unpredictable and subjective.
However, if you follow the advice we’ve provided and, more importantly, compare companies to find the best term life insurance company for diabetics, you can have a positive outcome.
But remember, waiting to secure good life insurance can cost you whether you are trying to buy term life insurance with diabetes or not. Get a free customized rate right now using our free rate tool and get a head start that can save you money and secure your family for the future.
References:
Frequently Asked Questions
Can I get life insurance if I have diabetes?
Yes, you can qualify for life insurance even if you have diabetes. The approval and rating class may vary depending on your specific circumstances.
What do life insurance companies look for when insuring someone with diabetes?
Life insurance companies typically consider factors such as your overall health, A1c levels, diabetes management, lifestyle choices, and regular medical check-ups when insuring individuals with diabetes.
How can I prepare for a term life insurance application with diabetes?
To increase your chances of getting approved for the best rating class, it’s important to manage your diabetes effectively through diet, exercise, and regular medical follow-ups. Taking these steps can improve your overall health and demonstrate your commitment to managing the condition.
Is diabetes covered under insurance?
Most states mandate that insurance companies cover diabetes care supplies. It’s important to research and compare different insurance companies to find the best coverage for your specific type of diabetes.
Can you provide examples of term insurance outcomes for individuals with diabetes?
Outcomes can vary based on individual circumstances. Factors such as age, severity of diabetes, control measures, and follow-up appointments with doctors can influence the insurance application outcome. It’s essential to compare quotes from different insurance providers to find the best options for your situation.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Joel Ohman
Certified Financial Planner
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...
Certified Financial Planner
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.