How To Get Life Insurance With Diabetes [2023]

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.

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.

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:

• https://diabetes.org/ways-to-give/planned-giving/making-gifts-while-providing-inheritances/questions-about-life-insurance