Affordable Life Insurance for Diabetics

by Jeff Rose on May 26, 2017

in High Risk Insurance


Life insurance is one of the most important investments that you’ll ever make for your family. Without the proper insurance policy in place, your loved ones could be left with massive debts and no resources to pay for those bills that they are responsible for.

diabetic life insurance policies

When you have diabetes, you may worry that you can’t get life insurance at all. In fact, nothing could be further from the truth.  Even with diabetes, you’ll have plenty of options for affordable and quality insurance coverage for both you and your family.

Approximately 8.3% of the U.S. population has some form of diabetes, making the disease one of the most prevalent health concerns in the country. Because it’s such a common health complication in the United States, there are a lot of insurance companies that have started to specialize in insuring diabetics. The more experience a company has, the better rates you’ll receive.

Getting affordable life insurance with diabetes can take some extra effort, but it is possible to get a policy with a favorable rate.  Don’t let the hard work or long process scare you. We can walk you through the process and make it as quick and easy as possible.

How Does Diabetes Affect Life Insurance?

With diabetes, just what your medical treatment is like and how well your condition is managed can make a big difference. Be sure to let insurance companies know whether or not you have to take medication to control your diabetes and what dosage you take. Knowing your average blood sugar level can help you to get more insurance offers and better rates if you have good control over your levels.

If your diabetes is generally under good control, you can expect plenty of offers and reasonable rates for life insurance with diabetes. The time that you were diagnosed with the condition is also important to insurance carriers. If you were diagnosed as an adult, you can expect better rates. Insurance companies also prefer diabetics who have not had the condition very long.   The longer that you’ve been diagnosed with the condition, the higher the chances are that it has severe impacts on your body.

Diabetes Questionnaire – What You Need Handy

If you have any type of diabetes and you’re looking to get approved for a high risk life insurance term policy, you’ll need to have all your medical records handy.   Below are some sample questions to which you will need to have the answers to.

1.      Date of diagnosis:  Age at onset:

 2.      Most current glycohemoglobin test reading:  Date:  Average A1C:  It is very important to have these numbers for any useful pre-underwriting premium estimate.  If the proposed insured is unaware of recent values for this test, please have her/him obtain these values from their healthcare providers.  A typical value lies between five and nine often expressed with a decimal such as 7.3.  Slightly higher or lower levels are possible.

 3.      How often does the proposed insured visit their physician for a diabetic checkup:

  • Monthly:
  • Every three months:
  • Every six months:
  • Once a year:
  • Less than yearly:

 4.      The proposed insured controls his/her diabetes by:

  • a. Diet/exercise:
  • b.  Oral medication:
  • c.  Insulin (units per day):

 5.      Recent readings:

  • Current height:
  • Weight:
  • Weight one year ago:
  • Reason for change:
  • Average fasting blood sugar reading:
  • Blood pressure:

 6.      Does the proposed insured take any other medications?  If yes, please list name of medication, prescription or otherwise, dates used, reason for Rx, diagnosis date.

 7.      Has the proposed insured experienced any of the following, if yes please provide details below under question number eight.

8.      Weight problems:

  • Coronary artery disease:
  • Neuropathy:
  • Protein in the urine:
  • High blood pressure:
  • Abnormal ECG:
  • Retinopathy:
  • Albuminuria:
  • Chest pain:
  • Elevated lipids:
  • Kidney disease:
  • Glycosuria:
  • Insulin shock:
  • Diabetic coma:
  • Alcoholic or drug abuse:

 9.      Please provide any additional details regarding the proposed insured medical condition:

It’s not required to have the info for the phone interview, but any info you have just expedites the process and helps us determine which life insurance carrier is going to be the best for you.  If you do not like this process it is possible to get approved for life insurance without an exam but you will typically pay higher rates than if you can get approved through underwriting.  All of these are going to play an important role in how much you pay for your life insurance coverage and your chances of being approved.

 Other Medical Problems

Simply having diabetes doesn’t have to be an enormous risk for life insurance companies, but it may be one if there are other medical problems in addition to it. Smoking, having heart problems, being overweight or having a history of cancer will multiply your medical risk to insurers. With multiple medical problems, you can expect fewer insurance offers and increased rates. has put together a list of the top 5 most expensive medical conditions when you’re buying life insurance. If you have one of these conditions make sure you shop around to get the best rates.

  1. Heart disease
  2. Diabetes
  3. Cancer
  4. Obesity
  5. Pulmonary disease

No Medical Exam Life Insurance

As we mentioned earlier, one option for coverage is to buy a no medical exam policy. These plans will allow you to buy life insurance without being required to take the medical exam. These policies are an excellent option for anyone that would be declined with a traditional policy that requires an exam, but there are a few disadvantages that you should be aware of when you’re shopping for insurance coverage.

The biggest disadvantage is that these policies are going to be more expensive than a traditional plan. The purpose of the medical exam is to give the insurance company an idea of what your overall health is, but without the exam, they don’t know how much of a risk you are to insure. No medical exams are going to be significantly more expensive, if you want to get the most affordable coverage, you’ll need to apply for a traditional policy.

Another pitfall of these plans is that you’re going to be limited on how much life insurance you can buy without taking a medical exam. Most insurance companies will only allow you to buy around $250,000 worth of life insurance, which isn’t going to be enough coverage for most families.

Affordable Life Insurance with Diabetes

If you’re looking to get affordable life insurance, there are several changes that you can make to get the lowest rates available. Because there are so many variables that the insurance company looks at, it’s important to present yourself as the best candidate to get the lowest monthly premiums. This could save you hundreds, or even thousands of dollars on your life insurance every year.

Your overall health is going to play an important factor in calculating your monthly premiums. Your health is going to be looked at to determine how much of a risk you are to ensure, which then translates to how much you pay for that coverage. The first thing you should do is ensure that you’re following all of your doctor’s orders.

Additionally, you’ll need to improve your health through diet and regular exercise. Both of these can help you regulate your diabetes, lose weight, lower your blood pressure and much more. Sticking to a healthy diet and getting the recommended amount of exercise every week can work wonders on your health as well as your insurance premiums.

Another way to improve your health is to cut out any tobacco that you’re using. If you’re a smoker, that’s one of the worst things you can do if you want to get affordable life insurance. On average, smokers are going to pay twice as much for their life insurance as a non-smoker is going to pay. Coupled with your diabetes, that’s a sure way to pay a fortune for your life insurance.

Smoking cigarettes drastically increases your risk of being diagnosed with other health complications like cancer and cardiovascular complications, which means that you’ll pose a much great risk to the insurance company. We all know that smoking is bad for your health, but it can also be terrible for your wallet. If you’re looking for any extra motivation to quit smoking, just think of the thousands of dollars that quitting will save you. Wait a year before you apply for insurance to quit smoking. Your lungs and your wallet will both thank you.

If you smoke cigars, but you only smoke them on celebrations, then there is a chance that you could still secure non-smoker’s rates. Some insurance companies will allow applicants to smoke occasional cigars and not automatically lump them in with smokers. It’s important that you find a company that will look at your cigars more favorably.

One of the best ways to ensure that you’re getting the cheapest life insurance rates is by working with an independent insurance agent, like our agents at Life Insurance by Jeff. Unlike traditional life insurance agents, our agents don’t represent one single company, instead they represent dozens of highly rated insurance companies from across the United States. There are several advantages to working with independent agents, mostly they save you both time and money on the life insurance search.

Instead of having to call dozens of insurance companies yourself, we can do all of the work for you. We can bring all of the lowest quotes directly to you, without the hassle of answering the same questions over and over.

How much Life Insurance do you need?

Aside from finding the perfect policy, you’ll also need to decide how much life insurance your family is going to need as well as when should you get life insurance. There are several different factors that you’ll need to account for to ensure that your family has the protection that they need.

One of the first things that you’ll need to add up is your debts and any other unpaid expenses that your loved ones would be left with. This should include your mortgage, funeral expenses, student loans, car payments, and anything else that they would inherit after your passing. Make sure that you purchase enough coverage for your family to pay off all of those expenses.

The next factor to consider is your annual salary and how much of your family members rely on that income. The goal of life insurance is to replace your paycheck if anything tragic happens to you, especially if you’re the main income earner in your household. It’s suggested that you get around seven to ten times your annual income to help your family get through the difficult time of losing a loved one without adding any financial strain.

It’s easy to see why life insurance is so important. Without it, your loved ones would find themselves with thousands of dollars of debt and no source of income to help pay off those expenses. You can’t predict the future, but you can always plan for the worst. Don’t wait any longer to get the life insurance that your family deserves.

Getting life insurance with diabetes is a complicated process, but it is possible to get the coverage you need if you take the time to apply to many insurance companies and let them know any positives about your condition. For many people with well-managed diabetes, the rates are comparable to rates given to non-diabetic insurance applicants.

If you have any questions about getting life insurance for diabetics or your different options, don’t hesitate to contact one of our agents today. We would be happy to answer any questions and ensure that you’re getting the best life insurance protection for you and your family. We know that finding the perfect policy can be a long and difficult process, but it doesn’t have to be. We can make the process quick and easy for you.

Your diabetes diagnosis impacts every area of your life. Everything from your diet to your job. It can be difficult to manage your condition, but it shouldn’t keep you from getting an affordable life insurance policy. It’s our mission to ensure that you’re getting the best possible insurance coverage for a diabetes patient.

Previous post:

Next post: