How to Secure the Best Life Insurance for Diabetics in 2024

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Overview:

Embarking on a journey to secure life insurance with diabetes starts with engaging a knowledgeable agent and a versatile insurance provider who have an understanding of pre-existing medical conditions.

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Best Life Insurance for Diabetics – A Comprehensive Guide for [2024]

Are you living with type 1 or type 2 diabetes? Our experienced staff specializes in providing life insurance coverage tailored specifically for individuals such as yourself.

We understand the unique challenges and complexities of living with diabetes, and we’re here to help you secure the affordable protection you need.

With our extensive experience and expertise in the field, we’ve helped numerous individuals with diabetes obtain life insurance coverage that meets their specific requirements.

We work closely with insurance providers who understand the conditions and are willing to offer competitive rates.

Don’t let your diabetes stop you from getting the life insurance coverage you deserve. Take the first step towards securing the future and financial well-being of your loved ones.

Contact us today to learn more and find the right life insurance policy that suits your needs and budget. We will cover the process of securing life insurance with both type 1 and type 2 diabetes.

 

What Is Type 1 Diabetes?

Type 1 diabetes is a disease where the pancreas does not produce a sufficient supply of insulin. Insulin in your body is an actual hormone that promotes sugar in the blood to enter the human body’s cells, so it can be used to create energy for the body to run on, just like gasoline in your car.

If you don’t have an ample supply of insulin, your blood sugar will build up to a dangerous degree. On the other hand, too much blood sugar will cause damage to your body’s internal organs, and you will suffer from the many symptoms of type 1 diabetes. Type 1 diabetes can be diagnosed at any age, but it is usually found in children and younger adults.

It is also known as juvenile diabetes and is the most severe form of the two types of diabetes. Prevention of this disease is unknown and can be inherited by other family members.

 

What is Type 2 Diabetes?

The second type of diabetes is type 2 diabetes, in which the human body regulates and burns its sugar for fuel. The result is that the body has too much sugar flowing through its circulatory system.

The result will be side effects and damage caused to the blood circulatory system, the nervous system, and the immune system. 

Not only does type 2 diabetes cause your pancreas to fail to create enough insulin, but it also causes your blood cells not to consume enough sugar. Type 2 diabetes is more common in older adults but probably in younger children due to juvenile obesity. 

There is no known cure for type 2 diabetes, but eating well and losing weight can help reduce the severity of the condition. Diabetic medication may be needed and proper insulin therapy for more advanced cases.

 

Does Diabetes Affect Life Insurance Rates?

Your rates will be affected if you have type 1 or 2 diabetes. Rates are impacted by the health classification you are placed in after applying. Type 1 diabetes will cause a higher increase in rates than the type 2 version. Choosing the most liberal company for diabetes will be your most crucial step.

Every insurer will underwrite applications with high-risk medical conditions differently than another will. Your agent (hopefully we) can help you choose the right company and assist you throughout the entire application process. 

 

Can I Get Approved for Life Insurance With Diabetes?

In short, you should apply and get approved for life insurance as long as your diabetes is controlled and you don’t have any severe side effects from diabetes, you should be fine. This will be held for people with type 1 and type 2 diabetes.

Making it a practice of not smoking, keeping your weight under control, and going to the doctor regularly makes a difference. Also, applying with the right life insurance company and working with an experienced independent agent (broker) makes all the difference.

 

How Can I Find the Best Life Insurance Rates With Diabetes?

This will involve working with an experienced life insurance agent such as us who works with high-risk conditions such as diabetes, heart disease, cancer, and other health issues. For example, finding the best life insurance rates for diabetics will require the expertise of a life insurance specialist.

An auto insurance agent that dabbles in a life insurance policy here and there is a scenario you want to stay away from at all costs. If you apply and get declined or receive an undesirable offer, you can always re-apply with another carrier. The only side effect is that the next company you apply with will be able to see that you applied previously and were declined.

This raises a red flag as to why a previous company declined you. You would be starting on the wrong foot. We want to ensure your application is submitted through an experienced independent agent and the results are a total success the first time. 

 

How Does Type 1 Diabetes Compare to Type 2 Diabetes?

Over 34 million people in America have some form of diabetes. However, medical experts and statisticians report that approximately 1 in 5 Americans don’t know about having diabetes in any one of the two forms.

Usually, they find out after the symptoms worsen, and they finally go to a doctor. Read about the two types below:

Type 1 Diabetes:

 Type 1 diabetes is less common than type 2 diabetes but is considered a more severe condition. With type 1, a diabetic’s pancreas either does not make any insulin or does not have enough insulin. Insulin is a member of the hormone family that promotes blood sugar to enter the cells in your entire body, where it can be stored and used for energy.

Without any or enough insulin, blood sugar can’t enter the cells and then builds up in the bloodstream to a higher-than-average degree.

Too much blood sugar can easily damage the human body, which can then cause many damaging effects, symptoms, and complications. Usually, a person with type 1 diabetes is dependent on receiving insulin injections in many cases.

Type 2 Diabetes:

Type 2 diabetes is when the body cannot properly regulate and burn its glucose (sugar) as fuel. The condition is chronic and can go on for years, resulting in simply too much glucose flowing through the bloodstream. Too much blood sugar can lead to disorders of the nervous, circulatory, and immune systems in a diabetic’s body.

When a person has type 2 diabetes, they have two different problems. First, their pancreas does not create enough insulin, and their blood cells do not respond appropriately to the insulin, which causes them to take in less sugar. Type 2 diabetes can lead to more severe type 1 diabetes.

However, in many cases, a change in diet, weight loss, and more exercise is all it may take to handle and even eliminate type 2 diabetes.

Prudential will be one of your best choices for life insurance for people with diabetes. They are very liberal with high-risk medical conditions.

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Questions Insurance Companies Will Ask

• Do you smoke cigarettes or use any other tobacco products?
• What type of diabetes do you have?
• Have you had any other tests for your diabetes?
• Are you overweight or obese?
• Do you have any other medical conditions other than diabetes?
• Do you have any related complications, such as hypertension, vision, or kidney issues?
• What is your current diet and exercise routine?
• Are you on Dialysis?
• Have you ever had a diabetic or insulin coma?
• What chronic medications do you take?
• What is your height & weight?
• Does diabetes run in your family?
• Do you monitor your glucose levels yourself?
• What are your past a1c levels and current readings?
• How old were you when you were first diagnosed?
• Have you been diagnosed with coronary artery disease or kidney disease?
• Are you taking insulin, oral medication, or a combination of both?
• What type of insulin do you use, such as Novolog, Humalog, Lantus, etc.?
• How many units of insulin do you take each day?

 

How to Get the Best Life Insurance Rates?

If you can answer (yes) to these questions, you have an excellent chance of getting approved with the lowest possible rates:

• Does not have hypertension (high blood pressure)
• Do not smoke or use any tobacco products
• Has an A1C of 7.0 or less
• He or she exercises regularly and has a healthy diet
• Do not have any diabetic-related complications
• Has glucose under 130
• Was diagnosed after the age of 50

 

What is Gestational Diabetes for Pregnant Females?

Anytime a woman is pregnant, the female body naturally becomes more resistant to insulin. This is perfectly normal, and life insurance companies understand this. This is done by the body to nourish the babies with additional glucose.

When a woman’s body needs more insulin to process the excess glucose in the blood, the pancreas secretes more as required. However, if the pancreas does not keep up with the increased demand for insulin, blood sugar levels may rise too high.

This is usually because the cells aren’t using the extra glucose fast enough. The result is called gestational diabetes. The excellent part is that gestational diabetes is usually a temporary condition. Most insurance companies are not very concerned about this.

The number 1 concern is whether diabetes continues after pregnancy has concluded and now becomes type 2 diabetes. As long as there is no indication of diabetes after pregnancy, obtaining low rates on your life insurance application should not be an issue.

 

What Are the Best Types of Life Insurance for Diabetics?

These are the general types of life insurance to consider; you will find that term life insurance for diabetics will be the most cost-effective plan design available. 

Term Life Insurance:

Term life insurance for most people is the only way to go. Especially if you want the lowest possible premium and the highest face amount to fit your budget, the very affordable term life insurance products have term periods between 10 – 40 years and can be converted to permanent policies.

Universal Life Insurance:

Universal life insurance is a plan that lasts for the rest of your life as long as you pay your premiums. Many people purchase universal life because they don’t want to be limited to a designated time like they would with term insurance. 

Usually, universal life costs more than double what a term does. However, you can also purchase term life insurance for your most financially liable time and add a small universal life plan to run for the rest of your life.

You will then have the perfect life insurance portfolio for protection and cost.

No Medical Exam Life Insurance:

No medical exam life insurance does what the name implies; no medical exam will be needed. Most companies offer no medical exam policies because they are prevalent because of no exam and blood test. Also, because they are fast to be approved and placed into force, some companies offer approval times of less than 24 hours.

Return of Premium Life Insurance:

Return of premium life insurance policies is a term policy. They have a rider that will return every dollar you pay if you outlive the term period of your policy. The return of premium policies costs more, but you might get all your money back. Most people outlive their term periods regularly, making gambling a good choice.

 

Four Main Rating Factors for Type 1 Diabetes?

• Results From A1C Tests
• Daily Dosage of Insulin Requirements
• Your Age When First Diagnosed
• Medical Conditions Triggered By Type 1 Diabetes

Life insurance companies will look in detail at the four main rating factors for type 1 diabetes to determine your health classification. Here is a closer look in more detail to further explain these categories:

Type 1 Diabetes A1C Test Results:

As most diabetics know, the A1C test is one of the most critical rating factors when determining your type 1 and even type 2 diabetes severity. This one rating factor will directly impact your decision to decline or approve it and what your premium will inevitably be.

The medical terminology will be called the “Glycated Hemoglobin Test.” This test will inform the insurance company of your glucose levels. The lower the number in this test will indicate how well your diabetes is managed and staying under control. The lower the number, the lower your premiums may be.

People that do not have diabetes will come through with a test result of an A1C level of 5.0 or less. As a type 1 diabetic, having an A1C level of 6.5 or less will help you receive an excellent health classification that spells very affordable premiums. 

Higher A1C results, such as a 7.5 – 9.0, usually mean higher premiums, and over 9.0 could end with a decline in your application. Trying to reduce your A1C number consistently should be your goal for good health and getting the best life insurance rates for type 1 diabetics.

Your Daily Dosage of Insulin:

Your daily insulin dosage is another critical factor when applying for life insurance for type 1 diabetics. The more insulin you have to use, spell out the severity of your condition. Conversely, if you have a dosage of 20 units or less, you can get a better health classification.

You can still get approved with higher dosages, but you’re moving into a higher-risk classification with higher rates. If you require over 45 units daily, you are walking on a thin line to be declined.

Health Conditions Triggered by Diabetes:

Conditions such as type 1 diabetes are well known for creating more health issues, such as an increased risk for strokes, heart disease, kidney failure, and nerve damage, heart disease, stroke, kidney failure, and nerve damage.

Nerve damage is usually known as neuropathy, which commonly affects the hands and feet with pain. Other risk factors commonly associated with type 1 and type 2 diabetes are high blood pressure, being overweight, and high cholesterol. If you have any diabetes or smoke, stop as soon as possible. 

If you have any other health issues other than diabetes, keep in mind that these will also be placed under the microscope in the underwriting department. Additional health concerns amplify your goal of getting approved. For example, anytime someone applies, and they are overweight and smoke simultaneously, these are noted as conditions you can control.

Being overweight and smoking can undoubtedly spell a decline in your application when incorporated with diabetes.

Your Age When Diabetes Was Diagnosed:

The age at which you were first diagnosed with type 1 diabetes is significant on a life insurance application. Being diagnosed before or after age five can make a substantial difference in your application for juvenile diabetes.

Being first diagnosed before age five can be critical to your application. Your health classes can be negatively affected, leading to higher life insurance rates. As a rule, the later you are first diagnosed with type 1 diabetes, the better from an underwriter’s point of view.

When they are first diagnosed, the younger someone is, the greater the chances of damaging internal organs usually affected by diabetes. 

 

What Are the Effects of Smoking On Diabetes?

If you have diabetes, it is crucial to stop smoking right away. People with diabetes who smoke cannot manage their blood sugar reading, unlike non-smokers with diabetes.

As the years have progressed, it has become a known fact that smoking has become a significant factor in developing type 2 diabetes.

People who smoke cigarettes have approximately a 45% higher chance of developing type 2 diabetes. People with type 1 diabetes usually use a lower insulin dosage daily, and their condition is much easier to manage.

Smoking cigarettes or using any form of tobacco, for that matter, is like giving poison to a person with diabetes. In a way, smoking is a poison when you consider nicotine is classified as a poison if ingested.

Smoking Can Also Lead to:

Poor Blood Circulation:

Poor blood circulation to the legs and feet can lead to ulcers and infections that everyone has heard of, which leads to the dreaded amputations of feet, legs, and toes. Amputation is one of the most terrible results of a history of diabetes.

Kidney Related Issues:

Tobacco use can also promote kidney-related issues, leading to a complete shutdown of the kidneys, known as kidney failure. Also, kidney-related issues directly impact high blood pressure (hypertension). The result will be dialysis and possible death due to Uremia (uremic poisoning).  

Heart Disease:

Heart disease is also at the top of the list. The heart can be affected by diabetes anyway, but smoking promotes restricting arteries, lung damage, and heart valve failure. Heart disease is the number 1 cause of death in the United States. 

Blindness:

Blindness due to retinopathy can also be a side-effect of diabetes, especially when promoted by smoking tobacco products. However, the most common type of retinopathy is directly related to diabetes.

Diabetic Retinopathy:

Diabetic retinopathy can be what medical science refers to as proliferative or non-proliferative. This refers to the growth of abnormal blood vessels in the retina.

Peripheral Neuropathy:

Last but not least is peripheral neuropathy which is nerve damage to the arms and legs that can cause poor coordination, pain, weakness, and numbness.

Poor blood flow in the legs and feet can lead to infections, ulcers, and possible amputation (removing a body part by surgery, such as toes or feet).

Gangrene can be triggered due to poor blood circulation and is almost impossible to stop. This is where the amputations come into prognosis.

*As if all this above is not enough, smoking tobacco products while you have diabetes tells the life insurance companies you don’t care about your health. So attempt to reduce the severity of your diabetes and give up smoking if you smoke.

 

Should I Connect With an Independent Insurance Agent?

When shopping for life insurance with diabetes, choosing an independent insurance agent will always be able to provide you with the best rates.

The independent agents are also known as Brokers. They represent virtually all the top-rated insurance companies. They can help you choose the best life insurance companies for people with diabetes who wish to apply for life insurance coverage.

As independent agents, we partner with over 40 life insurance carriers to shop the market for the lowest rates. Captive agents such as State Farm use only one company and would not be competitive. These captive agents work for carriers that specialize in homeowners and auto insurance.

Independent insurance agents have the advantage of life insurance companies that provide high-risk life insurance for people with severe medical conditions.

 

How to Pre-Screen Your Condition Before You Apply

Pre-screening your condition with diabetes is an absolute must. Your agent needs to know all the essential facts to choose the right company and expect us to advise you properly.

A medical assessment only takes a few minutes to accomplish and is nothing more than a few minutes of questions and answers. We have a short pre-screen form on our pre-screen page that can take less than five minutes to complete.

Be as accurate as possible so your agents can do their best to help you. Your agent is the liaison between yourself and the life insurance company you have placed your application with.

 

How to Apply for Life Insurance for Diabetics?

You will always have three different ways to apply for life insurance. The first is a page paper application with over 25 pages which we don’t recommend due to heavy time and writer cramps.

Paper applications are obsolete, but it was the only way to use them years ago.

The second is the online application, which is fine, but many people can run into software glitches or slow internet issues. 

A quick and straightforward telephone application is the best way to apply. Modern telephone applications take about 15 minutes to complete.

All you have to do is sit back and answer the questions and let a representative from the telephone application department do all the work for you.

We use a simple SnapApp system for all our applicants today, and they appreciate the quick, streamlined process.

 

Best Term Life Insurance Quotes for Diabetics

As stated earlier in this blog post, term products will be the best choice, especially when looking for affordable life insurance. You can activate our instant quoting system and compare over 40 companies side-by-side in less than a minute.

Use “Standard” in the drop-down menu under “health classification.” You can compare term life insurance quotes for people with diabetes but remember to use this as an essential guide.

Your current health class will have to be calculated with a quick 10-minute medical pre-screen that we can perform for you at no cost or obligation. To compare accurate term life insurance quotes for type 1 and type 2 diabetics, we need to know what health classification to base the rates on.

 

Our Final Thoughts

If it appears that applying for diabetic life insurance is rather involved, that is true. Just keep in mind that the insurance carrier does all the work. All you have to do is answer some questions on the phone application and then you can just sit back.

Applying for life insurance for diabetes can be very simple if it is performed by an insurance professional that understands medical conditions.

We have been helping people find the best life insurance products for over 25 years.

You can contact us seven days a week and during evening hours. I hope this article has helped you understand diabetes and its relation to life insurance.

All the best,
Jack Venturi

*For any questions you might have, our live chat system is at your disposal or call us at 815-390- 7545 and we will provide a quick answer.