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?
- Are your diabetes under control?
- Are there other medical issues?
- How long has it been since you were diagnosed?
Life Insurance Options For Diabetics
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.
Here are some common variables that can affect the rates you may receive as a diabetic seeking life insurance coverage.
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.
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.
Weight, Tobacco use, and other Medical Issues
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.
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.
Life Insurance Quotes 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, you can get started by getting an instant quote using our form on the upper right of this page.*While we make every effort to keep our site updated, please be aware that "timely" information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.