Affordable Life Insurance With Diabetes

by Chris Huntley

Life Insurance for Diabetics

Just because you’ve been dealt bad cards, doesn’t mean you’re out of the game.

If you have diabetes and are looking for life insurance, do not be discouraged!

It is possible to qualify for good, and in some cases, the best rates for life insurance with diabetes.

At Huntley Wealth, we specialize in finding the most affordable life insurance for people with medical conditions.

Here are the most important questions for life insurance shoppers with diabetes:

  • What sort of treatment are you under?
  • Is the diabetes under control?
  • Are there other medical issues?
  • How long has it been since you were diagnosed?

Factor #1 – Treatment

Are you able to keep your diabetes under control with diet and exercise only, or do you have to take a pill?  Or are you insulin dependent?

Insurance companies like to see fewer medications for better ratings.

Factor #2 – Is Your Diabetes Under Good Control?

If you know your a1c level and it’s lower than 7.0, that’s considered good control by many insurance carriers, and assuming no other health issues are present, standard rates (or possibly better) may be possible.

Between 7.0 to 7.5 is considered average control, and you can still get insurance.

Factor #3 – Weight, Tobacco use, and other Medical Issues

If you smoke cigarettes or are overweight, these compound your risk factor as a diabetic and make you a riskier client to insure.  If you’ve had any other medical impairments, such as coronary artery disease (clogged arteries) or you once had a heart attack, this also multiplies the risk to insure diabetics, so expect sub-standard ratings if this is the case.

Factor #4 – Age and Time Since Diagnosis

Insurance companies give better ratings to people who are older when they are diagnosed and if they were diagnosed just in the past few years.  The thinking here is that diabetes is such a slow progressing disease, that let’s say you’re 65 when you get diagnosed, chances are something else is going to kill you other than diabetes.

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Recent Offers for Life Insurance with Diabetes

As someone who specializes in finding affordable insurance for clients with medical issues, I am often contacted by diabetics looking for a good deal. Here are a few recent offers I have found:

64 Year old male, 5′10, 235 lbs, non smoker, 4 years since diagnosis.  On medication for blood pressure and cholesterol, on two diabetes meds, and takes 1 insulin injection per day.  Recent a1c was 6.9.  RBC/Liberty Life offered standard non tobacco.

69 Year old male, 5′10, 213 lbs, non smoker, 6 years since diagnosis.  Just on 1 med, glucophage, for diabetes, also controls it with diet and exercises 3x per week.  Recent a1c was 7.2.  ING/Reliastar’s offer was standard non tobacco with 2 tables.

One of my insurance companies will give their preferred best rating if your average a1c for the past year is 6.5 or lower, along with the level on your labs for the insurance policy.  There are other variables here, though, but you can see if some companies will possibly give their best rating, there is definitely affordable life insurance for diabetics to be found.

Free Life Insurance Quote for Diabetics

It’s crucial to use an independent agent to assist you in finding life insurance with diabetes.  In the example of my 69 year old above, I put the details of his health out to about a dozen different companies, and several company underwriters came back with standard offers with 2 tables.  If my client had gone to an agent who didn’t take the time to shop the case, he would have ended up paying about 50% more in premium than he needed to!

If you have any questions about life insurance with diabetes, give us a call here in the office at 877-443-9467, or you can also get started by getting an instant quote using our form on the upper right of this page.

*Written by Chris Huntley. Huntley Wealth Insurance and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.
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Chris Huntley
Chris Huntley is the owner of Huntley Wealth Insurance, a San Diego life insurance agency. You can find him on Google + and Facebook. Over the past 8 years, Chris has consulted with over 2000 individuals about their insurance needs. He is a proud husband and father to three adorable girls.
Chris Huntley
Chris Huntley

{ 6 comments… read them below or add one }

Long Term Care Insurance Alabama December 2, 2010 at 11:32 pm

Diabetics have always worried that it is next to impossible to buy insurance. It’s nice to know that there are some things within their control (like how well they take care of their health despite their condition) that can make insurance-buying a possibility.

Reply

Liver Diet July 24, 2011 at 12:30 pm

I have some people in my family with diabetes and I have to confirm it is very difficult for them to get insurance.

Reply

Chris July 25, 2011 at 4:50 pm

Actually, we get diabetics life insurance all the time. I don’t think I said in my article that it’s very difficult. Some diabetes cases can be more challenging, but we’ve had great success helping diabetics for the most part.

Reply

Ingrid January 16, 2012 at 7:05 am

please call me in the afternoon.

Reply

Tom February 13, 2014 at 9:46 pm

It’s definitely tough for diabetics. Just think – would u want to insure somebody that has over a 50% chance of dying from their medical condition?
Anyways, you gave an excellent explanation on how life insurance companies view applicants with diabetes. It’s unfortunate, too many people believe they are ineligible or pay too much for their life insurance policies just because they have diabetes.
All you can really do is call around, get quotes, and see what they say. I think the ADA also has some info on their website pertaining to this topic with links for further info.

Reply

Chris Huntley February 26, 2014 at 11:28 am

Hey Tom,
Thanks for dropping by (and I love your site, by the way.)

Reply

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