Life insurance for diabetics

Life insurance is a foundation for many financial and estate plans. A life insurance policy can offer you living benefits and replace lost income for your loved ones in the event you die or leave a legacy to a family member, charity or friend. People with diabetes might assume that they won’t be able to get life insurance because their health is so important.

This assumption is false, fortunately. Although it is possible to find coverage for people with diabetes, it will take some planning and research. Bankrate may be able to help you find companies that have policies for diabetics. Your insurance search could be made easier by learning about life insurance for diabetics.

Are people with diabetes eligible for life insurance?

People with diabetes can obtain life insurance coverage. The amount you pay will depend on your specific diagnosis and medical condition. Your premium might not be as high if your diabetes is under control and you are otherwise healthy. Your premium will increase if you have a more serious condition.

What type of life insurance is available for diabetics

There are no special types of life insurance that are better for people with diabetes. Diabetes patients can generally get the same type of life insurance coverage that those without it.

People with diabetes may pay more for life insurance. It is possible that you will not be able buy the same amount life insurance. The results of your medical exam could impact the amount of insurance you are able to buy. A company may limit the coverage they offer if it receives poor results from a medical exam.

Are there any types of life insurance that is specialized for diabetics.

Many life insurance companies will offer policies to those with diabetes. However, your answers to the application questions and results of your medical exam may affect your premiums and coverage level. You may be able to get policies without a medical exam and guaranteed issue policies if your condition is more advanced.

What are the factors that affect diabetics who are looking for life insurance?

When it comes to life insurance underwriting for diabetics, there are many factors that can influence the outcome. These factors include:

Types of diabetes

Type 2 diabetics may have a harder time getting life insurance than those who have Type 1. Type 1 diabetes is considered more risky than Type 2. Therefore, you will pay more for the same coverage.

Manageable diseases

Lifestyle changes can help you manage diabetes better than taking medication. You will pay more if you depend on insulin.

Other health concerns

You may not be eligible for life insurance if you have any other health issues, such as high blood pressure, heart disease, or cancer. Although your premium may be high, a guaranteed-issue policy might be the best choice in these cases.

The best life insurance companies that diabetics can choose from

Many life insurers offer coverage for people with diabetes. Some offer tailor-made policies for diabetics while others offer policies that are guaranteed to be issued with no underwriting requirements. Here’s a list of companies that diabetics could use for coverage:


AIG offers a range of life insurance products including guaranteed issue whole-life. This allows you to skip the medical exam. You may be eligible for universal or term coverage if your condition is under control.

Mutual of Omaha

Mutual of Omaha offers a variety of life insurance options, including universal, whole, and term. There are guaranteed issue policies available which can make it easier to find life insurance coverage.

All over the country

Nationwide offers a variety of life insurance products including universal, whole, and term life for people with type 2 diabetes. It does not offer coverage for people with type 1 diabetes.


Prudential offers both whole and term life policies. There is no minimum age for diagnosis. Prudential also offers many online resources for life insurance.

If I’m diagnosed with diabetes, what happens to my existing policies?

People who are diagnosed with diabetes after purchasing a life insurance policy do not have to be concerned. The policy will remain in effect if a diabetic is newly diagnosed. Permanent policies such as universal life or whole life are protected at the same rates you paid before being diagnosed.

Your payments for a term policy will not change until the end of the term. This is usually five, 10, 20, or 30 years. You have the option to either let your policy lapse, or convert it to a permanent policy prior to the expiration date. Policyholders can convert their policy to avoid the need for a medical exam. They will be able to use their original application’s health rating.

Your health will be assessed if you wish to renew your policy. If your diagnosis is confirmed, your rates will change accordingly. You may not be able to renew your policy if you have severe diabetes. In this case, you might need to consider a guaranteed-issue policy.

Questions frequently asked

Which is the best life-insurance company?

Your specific rating factors will determine the best-life insurance company. This includes your health, type of policy, desired coverage, and any optional riders. The best company for you is different for every person, just like home insurance or auto insurance. You might get quotes from multiple companies to help you choose the right carrier for your needs.

Important to remember that life insurance companies may change their guidelines at any time. This means that the best company today might not be the best in the future. It may be necessary to re-shop your insurance company after you have chosen an insurance company.

What happens if my diabetes diagnosis is confirmed?

You can get better health with a policy that has a standard rating or rated rating. Also, there are changes to the mortality tables. It is best to shop for your policy to see if you can find a better rate.

You can exchange your cash build-up permanent policy to your new policy for 1035 and avoid tax consequences

Why is life insurance more expensive for diabetics?

Life insurance premiums, like all insurance policies are determined by risk. Diabetes can increase your risk of developing heart disease, nerve damage or other conditions. This is why life insurance companies charge higher premiums to compensate. Your diabetes severity and control will affect how high your premium.