You’ve probably heard that applying for life insurance for Diabetics will always be expensive and complicated to get approved with most carriers. That used to be the case years ago, but now it is different. People can control their diabetes more efficiently and more accessible than ever before. Years ago, people with diabetes who applied for life insurance could quickly be declined, but not anymore.
That is where the medical profession has learned new ways to prevent diabetes from advancing. Thankfully, people with diabetes live in a new era for their condition. Because of this, life insurance companies are much more liberal with their underwriting criteria. We will cover type 1 and type 2 diabetes in this article, so sit back and keep reading.
Table of Contents
- What Is Type 1 Diabetes?
- What Is Type 2 Diabetes?
- Does Diabetes Affect Life Insurance Rates?
- Can I Get Approved for Life Insurance With Diabetes?
- How Can I Find the Best Rates With Diabetes?
- How Does Type 1 Diabetes Compare to Type 2 Diabetes?
- What Type of Questions Do Insurance Companies Ask?
- How to Get the Best Life Insurance Rates With Diabetes?
- What Is Gestational Diabetes for Females?
- No Medical Exam Life Insurance Policies for Diabetics
- Best Companies for Diabetics That Require Medical Exams
- What are the 4 Main Rating Factors for Type 1 Diabetes?
- What Are the Effects of Smoking With Diabetes?
- Should I Connect With an Independent Insurance Agent?
- How to Pre-Screen Your Condition Before You Apply
- How to Apply for Life Insurance With Diabetes
- I Already Applied, and My Application Was Declined!
- Life Insurance Rates Are Regulated by Law
- Best Term Life Insurance Quotes for Diabetics
- In Conclusion
Type 1 diabetes is a disease where the pancreas does not produce a sufficient supply of insulin. The 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.
The type 1 version of 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 found to be inherited by other family members.
The second version of diabetes is type 2 diabetes, a disease where 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 do 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.
If you have type 1 or type 2 diabetes, your rates will be affected. 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 towards diabetes will be your most crucial step. Every insurer will underwrite applications with high-risk medical conditions differently than another will. Your agent (hopefully us) can help you choose the right company and assist you throughout the complete application process.
In a short answer, you should apply and get approved for life insurance. As long as your diabetes is controlled and you don’t have some severe side effects from diabetes, you should be fine. This will hold 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 world of difference. Also, applying with the right life insurance company and working with an experienced independent agent (broker) make all the difference.
This will all revolve around the assistance of an experienced life insurance agent who works with high-risk conditions such as diabetes, heart disease, cancer, and other serious 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 the scenario you want to stay away from at all cost.
If you apply and get declined, you can always go out and use it again. The only side effect is the next company you apply with will be able to see 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. You want to make sure your application is submitted through a seasoned veteran independent agent, and the results are right on the money.
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 itself 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 a condition where the body cannot properly regulate and burn its glucose (sugar) as fuel. This condition is chronic and can go on for years, and the result is 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 are all it may take to handle and even eliminate type 2 diabetes.
The Prudential Life Insurance Company will be one of your best choices for life insurance for people with diabetes. They are very liberal with high-risk medical conditions.
The insurance companies can ask questions and even a few by ourselves to pre-screen your condition and choose the best company correctly.
- 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 reading?
- 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?
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)
- Does not smoke or use any tobacco products
- Has an A1C of 7.0 or less
- Exercises regularly and has a healthy diet
- Does not have any diabetic-related complications
- Has glucose under 130
- Was diagnosed after the age of 50
Anytime a woman is pregnant, the female body naturally becomes more resistant to insulin. This is perfectly normal, and the 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 simply secretes more as required. However, if the pancreas does not keep up with the increased demand for insulin for any reason, 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 gestational diabetes is usually a temporary condition. Most insurance companies are not very concerned about this. The number 1 concern is if diabetes continues after the pregnancy has concluded and now becomes type 2 diabetes. As long as there are no indications of diabetes after the pregnancy, obtaining low rates on your life insurance application should not be an issue.
If you meet the underwriting guidelines for these companies, you can purchase a life insurance policy with no medical exam required.
- Mutual of Omaha – Type 1 and 2 diabetes with a maximum diagnosis age of 50 and a face amount up the $250,000.
- Assurity Life – Controlled type 2 diabetes only. Up to a $50,000 face amount.
- American National – Controlled type 2 diabetes only with a maximum diagnosis age of 50 and a face amount up to $250,000.
- Sagicor Life – Controlled type 2 diabetes without insulin used. A maximum diagnosis age of 50 and a face amount up to $500,000.
- 5 Star Life – Type 1 and type 2 diabetes. Up to a $100,000 face amount.
- United Home Life – Type 1 and type 2 diabetes. Up to a $50,000 face amount.
- North American – Controlled type 2 diabetes without insulin used. Diagnosis age up to 40 years and a $500,00 face amount.
These companies below all require a medical exam. A conventional application with an exam will provide the lowest rates most every time.
- Banner Life – Controlled type 2 diabetes with a face amount up to $500,000.
- Prudential – Controlled type 1 and type 2 diabetes with a $20,000,000 face amount.
- Protective Life – Controlled type 2 diabetes only. Up to a $10,000,000 face amount.
- American National – Controlled type 2 diabetes and some type 1 cases. Up to a $1,000,000 face amount.
- AIG American General – Controlled type 2 diabetes with a diagnosis age of 30. Face amount varies by age.
Applying over the telephone usually takes about 15-20 minutes. However, obsolete paper applications from years ago could take well over an hour!
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 simply a plan design 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 times and then 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 less than 24 hours.
Return of Premium Life Insurance:
Return of premium life insurance policies is term policies. They have a rider that will return every dollar you paid in if you outlive the term period of your policy. All of the return of premium policies cost more, but you very well might get all your money back. Most people outlive their term periods regularly, making it a good gamble to choose.
- Results From A1C Tests
- Daily Dosage of Insulin Requirements
- Your Age When First Diagnosed
- Medical Conditions Triggered By Type 1 Diabetes
The life insurance companies will look at the four main rating factors for type 1 diabetes in detail 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 the severity of your type 1 and even type 2 diabetes. This one rating factor will directly impact the decision to decline your application or approve it and what your premium will inevitably be. The medical terminology will be referred to as 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. In essence, 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, which usually mean higher premiums, and over 9.0 could end with a decline of your application. Trying to reduce your A1C number consistently should be your goal to good health and getting the best life insurance rates for type 1 diabetics.
Your Daily Dosage of Insulin:
Your daily insulin dosage will be another critical factor when applying for life insurance for type 1 diabetics. The more insulin you have to use with spell out the severity of your condition. Conversely, if you have a dosage of 20 units or less, you have an excellent chance of getting a better health classification.
You can still get approved with higher dosages, but you’re moving into a more high-risk classification with higher rates. If you require over 45 units a day, you are walking on the thin line to being 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. The nerve damage is usually known as neuropathy which commonly affects the hands and feet with pain.
Some of the other risk factors commonly associated with type 1 and type 2 diabetes are high blood pressure, overweight, and high cholesterol. If you have any form of diabetes and smoke, make sure to 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 just 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 of your application when incorporated with diabetes of any form.
Your Age When Diabetes Was Diagnosed:
The age at when you were first diagnosed with type 1 diabetes is significant on a life insurance application. If you were 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 class can be negatively affected, which will lead to higher life insurance rates.
As a rule, the later in life when you were 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.
If you have diabetes, it is crucial to stop smoking right away. People with diabetes who smoke cannot manage their blood sugar reading near and 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 dosage of insulin each day, 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.
Using tobacco products can have a significant impact on other health conditions, which can be looked at as a spin-off of type 1 or type 2 diabetes such as:
- Poor blood circulation in 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.
- Tobacco use can also promote kidney-related issues, leading to a complete shut-down 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 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 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 can be what medical science refers to as proliferative or nonproliferative. This refers to the growth of abnormal blood vessels in the retina.
- 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. That is where the amputations come into the 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 do smoke.
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 even be competitive. These captive agents work for carriers that specialize in homeowners and auto insurance. The independent agents have the advantage of life insurance companies that provide high-risk life insurance for people with severe medical conditions.
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 to advise you properly. A medical pre-screen 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 agent can do his best to help you. He is your liaison between yourself and the life insurance company you have placed your application.
Applying over the telephone is the best method possible!
You will always have three different ways to apply for life insurance. The first is the page paper application with over 20 pages which we don’t recommend due to the heavy time and writer cramps. Paper applications are an obsolete way to apply, 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.
The best way to apply would be with a quick and straightforward telephone application. 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 the simple SnapApp system for all our applicants today, and they appreciate the quick, streamlined process.
This can happen at times but don’t get discouraged. When people apply and get declined, they apply with a company that was a poor choice for life insurance with diabetes. Not every company will be diabetes-friendly, and they possibly have had a lot of claims in the past. They would then decide to become more stringent with their underwriting guidelines.
Another reason is that you used a captive agent such as a State Farm or Country Financial agent who does not specialize in life insurance and is afraid of high-risk health conditions. These agents look out for their company’s best interest and not their clients as an independent agent does.
If this has happened to you, call us to help you get approved with a company that has no qualms with type 1 or type 2 diabetes.
Most consumers do not realize that all insurance rates, including life insurance rates, are regulated by law. This means that there is no variation in premium between agents for the same life insurance plan design and carrier. However, the rates change for a given plan design between the life insurance carriers themselves. As a result, some companies have higher or lower rates for the same product type. Choosing the company with the lowest rates is how you can save money.
The life insurance company actuaries generate their rates, and then they have to be approved by each state’s Department of Insurance. When the rates are approved, they can be published for the consumers to compare. This means bouncing around from one website to another and running quoting engines is redundant. The rates you will be looking at for a given company will be the same nationwide regardless of the website you are reviewing them on.
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. Make sure to 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 actual health class will have to be calculated with a quick 10 minute medical pre-screen we can perform for you with no cost or obligation. To compare accurate term life insurance quotes for type 1 or type 2 diabetics, we need to know what health classification to base the rates on.
Suppose you are planning on applying for life insurance for people with diabetes. Call us today, and we will show you all your options without any BS or sale fluff you will find with most other agents. Applying for life insurance with diabetes can be very simple if it is performed by an insurance professional that understands high-risk 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 sincerely hope this article has helped you understand diabetes and its relation to life insurance.
All the best,
If you have any questions about type 1 or type 2 diabetes or any other medical conditions for that matter, contact us today and let us help with no cost or obligation. Remember that we are brokers and work for our clients and not for the insurance companies. Our job is to help you get approved for the best policy for your needs with the lowest rates possible. You can also set up a specific time to get all your questions answered.