Critical Life Insurance for Diabetics: Types 1 & 2 (Companies + Rates)

There are tons of people out there that think it’s impossible to get life insurance just because they have diabetes. Well, this article will help show not only that it is possible but that it’s becoming easier as time goes on.

Diabetes is a manageable disease, and insurance companies are coming around to that fact. However, life insurance will probably cost more than it would for someone without a pre-existing condition.

By the end of this, you will know how to get the best rate if you have diabetes.

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What is diabetes?

Diabetes is a disease with no cure that can be easily managed, but every case must be taken seriously. The condition revolves around the pancreas and whether it’s producing insulin and using insulin effectively.

The human body breaks down the carbohydrates it consumes into blood glucose (blood sugar), which then converts it into energy. The insulin that’s produced by the pancreas transfers the glucose from the blood into cells.

If the pancreas doesn’t produce any insulin, that person has type 1 diabetes. If the pancreas does not produce enough insulin or can’t use it effectively, that person has .

Of course, a visit to the doctor is required to know for sure. Most doctors administer an A1C test, which can be used to identify prediabetes, diagnose diabetes, and monitor current diabetic conditions. Usually, the test is taken twice a year.

The A1C test measures the percentage of hemoglobin (found in red blood cells) that is coated with sugar. Even though each person’s target percentage can vary based on age and other factors, more than 7 percent is not good. Higher than 6.5 percent is considered diabetes, and from 5.7 percent to 6.5 percent is prediabetes.

Diabetes can occur in people of every age, race, size, and shape. Let’s dive into some of the symptoms, causes, and risks type 1 and type 2 diabetes pose before exploring how someone with diabetes can get life insurance.

Type 1

Over 1.25 million Americans have type 1 diabetes, and another 40,000 will be diagnosed this year. As was mentioned earlier, with type 1 diabetes, the body doesn’t make any insulin. This occurs when the immune system attacks and destroys the cells in the pancreas that make insulin.

Type 1 was previously referred to as juvenile diabetes or insulin-dependent. Typically, type 1 is diagnosed in children and young adults; and the symptoms tend to come on rather quickly.

There is no known cure, but it can be managed. Those diagnosed with type 1 must take insulin every day to live. Although it can’t be prevented, there are conditions where the disease seems to be more prevalent.

Triggers

In 1889, Joseph von Mering and Oskar Minkowski discovered the relation of the pancreas and diabetes. Twenty-one years later, Sir Edward Albert Sharpey-Schafer found that the lack of insulin caused diabetes. Over the last century, dozens of studies have been conducted to understand the disease better.

A few commonalities have been found throughout all the studies and experiments. Most cases need risk factors from both parents to develop type 1 diabetes. Data from Diabetes.org has shown that type 1 is more prevalent in whites.

There are factors beyond genetics that could increase the odds of diabetes developing. The environment is considered one of those factors.

It seems that type 1 diabetes develops more often in cold climates.

Another possibility is that some viruses that do nothing to some people may develop type 1 in others. Early diet is also considered; type 1 is less common in those who were breastfed.

Many of these broad statements have been formed over time, and more research will continue to be refined. Hopefully, a cure will eventually be found because of such research.

Who’s At Risk

Every parent worries about their children developing diseases or getting injured. That’s why many parents now consider the genetic probabilities via their own research or with a specialist.

Since we know that type 1 is typically diagnosed at a young age, parents are going to be responsible for making sure it’s controlled, and that becomes a habit for the child. Before we go any further, let’s discuss what the odds are that a child will develop type 1 diabetes.

Those with type 1 only account for 5 percent of those with diabetes. The odds of a man with type 1 having a child who also develops it is 1 in 17. The chances for women are a little bit different.

If a woman with type 1 has a child before the age of 25, the chances are 1 in 25. However, if the child is born after the age of 25, the chances improve to 1 in 100. If either parent developed diabetes before age 11, the odds for the child double.

Type 2

Type 2 diabetes is the more common type. Unlike type 1, where the body does not produce any insulin, those with type 2 do not make enough or use it properly.

People of all ages can develop type 2, with the majority being middle-aged or older.

Now let’s discuss further the who, when, why, and how of type 2 diabetes.

Triggers

Obesity or just being overweight is attributed to why type 2 develops over time. Extra weight can cause insulin resistance when muscle, liver, and fat cells do not use insulin well, leading to the body requiring more.

Many factors can negatively affect one’s chances of developing type 2 diabetes.

• Family history
• Age
• Ethnicity
• High blood pressure
• Being overweight and lack of physical activity
• Low level of HDL (good) cholesterol or a high level of triglycerides
• History of heart disease or stroke
• History of gestational diabetes or giving birth to a baby weighing more than nine pounds
• Depression
• Polycystic ovary syndrome

These factors may increase some risk of developing diabetes. However, type 2 diabetes is very manageable. A sustainable and healthy diet alongside regular physical activity is the best way to prevent or postpone the development of type 2.

Who’s At Risk

Genetic and environmental factors play a significant role in the event of type 2 diabetes. The elements of obesity and eating habits are always at the forefront.

Obesity tends to run in families. Children get their eating habits from those families in which obesity runs. Then they grow up and teach the same practices to their children. Many of them will develop type 2 diabetes at some point in their adult lives.

The cycle may seem breakable, but it’s not always an easy feat. Changing one’s eating habits and increasing physical activity is an excellent place to start, but it’s better to catch it at the prediabetes stage rather than when it’s full-blown.

Prediabetes

A significant difference between type 1 and type 2 diabetes is prediabetes. Prediabetes only occurs before type 2 diabetes is fully developed.

The other names for prediabetes are impaired fasting glucose or glucose intolerance. A1C levels are higher than normal but not quite in the diabetes range. As mentioned above, the prediabetes range is when 5.7 to 6.5 percent of the hemoglobin is coated in sugar.

Often, people do not take prediabetes seriously because borderline diabetes isn’t actual diabetes. This thinking is flawed, considering most of those people develop full-blown diabetes.

About one-third of Americans have prediabetes. Prediabetes is often referred to as borderline diabetes.

On top of doing physical activities you enjoy and eating foods that are healthy and make you feel good, you should also visit the doctor regularly. The A1C test is there to help monitor both diabetic and prediabetic conditions.

Symptoms and Complications for Both Types

With type 1, symptoms can come on rather quickly. Type 2 tends to develop slowly and sometimes without symptoms. Remember, though, every case of diabetes is serious.

Many possible complications can occur due to diabetes. Below is a table of symptoms and possible complications caused by diabetes.

These are only some of the symptoms and complications. Roughly 30 million children and adults have diabetes in the United States, and each one has a unique story regarding their diabetes.

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Types of Policies Available to Diabetics

There is a handful of different types of life insurance policies, starting with whether the policy is temporary or permanent. When purchasing term (temporary) life insurance, it is advisable to buy the longest coverage possible.

With permanent life insurance, you are always covered as long as your fees are paid.

Permanent life insurance policies are more expensive than term life and sometimes have a savings component, as well.

Of course, having a pre-existing condition like diabetes will increase your rates for a term and permanent life insurance policy. The trick is keeping your diabetes under control in order to help keep your rates down.

There are certain types of policies that those with diabetes really never qualify for. For example, Preferred or Preferred Plus, which is a category of policies for those who are the healthiest of us all, typically does not include those with diabetes.

Most life insurance policies go through the process of underwriting — the process of assessing the risk posed by the individual in consideration. However, guaranteed issue policies have very little if any underwriting.

Let’s explore further a few different types of policies and how they work with diabetes in the mix.

Standard and Substandard

People who have type 1 diabetes will rarely be offered a standard policy. Typically, sub-standard or table-rated pricing will be applied — meaning higher premiums.

Table ratings tend to increase rates by 25 percent per rating category. Complicated medical histories cause more expensive ratings.

Type 2 is generally diagnosed after the age of 40, so taking an interest in buying life insurance before that would be a good idea if in search of a standard life insurance policy.

Modified

A modified life insurance policy allows for smaller premiums for the first three to five years, after which the premiums increase to higher than normal.

If you foresee your income increasing a few years down the road and wish to lock in the prices that are offered to you today, a modified life insurance policy may be the way for you to go.

Taking this route has more to do with one’s financial situation and outlook rather than the fact that they have diabetes.

Simplified Issue

With simplified issue life insurance, the underwriting process consists of only a few health questions. This type of policy is typically used by those with pre-existing conditions like diabetes.

A physical exam is not required and with less information within the underwriting process, the more expensive the policy is going to be. The pool of people with simplified issue life insurance is automatically considered high-risk.

Guaranteed Issue

There are still times when people with diabetes get denied for any category of life insurance. However, there is always the option of guaranteed issue, and it is pretty much exactly what it sounds like.

Guaranteed issue is usually a last resort kind of policy. Without medical exams or health questions, these types of policies can be very expensive.

Before deciding on any policy, it is important to talk it over with family or a financial advisor, as well, and understand and weigh all of the options.

How to Get the Best Rate with Diabetes

Insurance companies are starting to come around to the fact that diabetes is a manageable disease, and there are real ways to monitor someone’s consistency, the A1C.

It is a good idea to wait to apply for life insurance after two or three A1C results come back normal, signifying control over the situation.

Checking your blood sugar regularly and keeping up on your insulin shots will no doubt help achieve such.

A few more important aspects to focus on are keeping in shape, eating healthy, getting plenty of sleep, and relaxation. The healthier you are, the more inclined an insurance company is to provide you will adequate coverage.

What are the insurance companies looking for when insuring Type 1 diabetes?

Life insurance can be tough to figure out, especially if you have a pre-existing condition like diabetes. Everyone wants to understand why they are being charged, whatever the rate may be. Insurance companies go through a lot of work to provide themselves with the most information to give a fair and informed price.

Although finding a policy may require more effort and research, it is possible to get coverage, even with diabetes.

People from every walk of life have diabetes, and each one should be allowed peace of mind for their loved ones, just like anyone else. Let’s take a look at some of the factors that life insurance companies use to charge consumers.

Type of Diabetes

People with type 1 diabetes are expected to have a shorter life compared to those with type 2 and those entirely without. For those with younger-onset diabetes live on average 16 years less than those without and 10 years less than those with adult-onset.

Those with type 1 need insulin every day, sometimes multiple times a day to live. Life insurance companies do not always look at that as low-risk. On the other hand, many people with type 2 can change their habits.

That is not to say that insurance companies trust people to choose to change their habits, but insurance companies can see improvement in control over their disease.

Unfortunately, the earlier one is diagnosed generally means the higher one’s life insurance rates. Those with type 1 typically pay more than those with type 2. The next section addresses how age might overall affect life insurance rates.

Demographics

Even The Center for Disease Control (CDC) has gathered a vast array of information on who has diabetes.

Let’s take a look at how many people are diagnosed with diabetes in the United States. The tables below will be based on gender, age, race, and education.

Gender affects rates because women tend to live longer than men; therefore, men should be charged more. Let’s relate this back to diabetes for a moment. Below is a table of the percentage of men and women that have diabetes.

The table shows that a higher percentage of men have diabetes than women. Men who have diabetes or other pre-existing conditions will pay a higher premium than women in the same situation.

Before discussing the impact age has on rates for diabetics, let’s look at what percentage of people within three different age groups have diabetes from 1980 to 2017.

As we can see from the table above, a tiny percentage of people ages 18 to 64 have diabetes. This matches up with what was said earlier about type 1 diabetes; type 1 is generally diagnosed at a young age and only makes up about 5 percent of those with diabetes.

Being diagnosed with diabetes in your later years has less of an impact on your life insurance rates.

From the table above, we see that after the age of 45, there is an increase in the percentage of people with diabetes.

The next table is an age-adjusted (percentage) breakdown of diagnosed diabetes by race. Earlier it was mentioned that type 1 is more prevalent in whites, but the table below will show that with type 2 included, that is not the case.

In general, blacks have a higher percentage of diagnosed cases than the other three races. Hispanics also have a fairly high percentage, with both races hovering in the low double-digits.

Asians and whites have percentages that average out pretty equally. The most important thing to note from this table however, is that as time goes on the percentage of people diagnosed with diabetes increases across all races.

Actually, the next table will confirm that across all demographics, percentages are increasing as time goes on. The next table is an age-adjusted breakdown of those diagnosed with diabetes by education, whether people have more or less than a high school diploma.

Education can play a role in nutritional knowledge and access to proper healthcare. The data points us to the conclusion that more education can help reduce the chances of developing diabetes.

Sometimes our decisions are not always based on intellect, but rather convenience. There are so many convenient options that make nutrition take a backseat.

So, the characteristics of one person may affect one’s odds but cannot ultimately make decisions for that person.

Treatment

As has been mentioned a few times before, diabetes is an extremely manageable disease. The first order of business when it comes to being diagnosed with diabetes is whether you must take insulin every day.

Those who are diagnosed with type 1 must take insulin every day in order to live because their pancreas does not produce any insulin. Not too long ago, that would stop you from qualifying for life insurance, but times have changed.

Diabetes can be a fairly expensive condition, so the fact that life insurance for diabetics is becoming cheaper comes as a great relief to many.

According to Sam Goldsmith, a licensed insurance broker, “[Insurance companies] recognize people are not going to die prematurely if they’re compliant with their doctor’s recommendation.”

While getting coverage with type 1 may be more expensive, those with type 2 who are not on insulin and have their diabetes “fairly under control” may pay the same rates as someone without diabetes but with another chronic illness.

Insulin is not the only form of medication that is given to type 2 diabetics; sometimes, oral medication is prescribed to help control blood sugar. Prescription history always has the possibility of increasing life insurance rates.

Whether you have type 1 or type 2 diabetes, a doctor will always prescribe regular exercise and recommend dietary changes that will improve your overall health.

The process of limiting one’s extra weight helps reduce insulin resistance. This will help insulin work the most effectively, whether injected or naturally produced.

Date of First Diagnosis

Age at onset is the first and most crucial question in deciding your chances for approval. Simply put, if you seek life insurance with Type 1 diabetes and you are between the ages of 0 to 17, you will not be eligible for coverage. You’ll need to be over the age of 18 to apply.

The older you are when it was first diagnosed, the less time since onset, the better rates you can get. Without going off topic too much, there are many studies to validate concerns about developing chronic health conditions later in life for individuals who were diagnosed with Type 1 diabetes earlier instead of later in life.

One research suggests that individuals diagnosed before the age of 10 have a 30-times higher risk of serious cardiovascular outcomes like a heart attack.

Years Since Diagnosis

This is another significant factor in estimating your risk to the insurer and calculating your rates. The longer you have been living with diabetes, the higher your prices will be.

The apparent reason is the longer you have lived with the ailment, the higher the chances for complications to occur such as heart attack, stroke, or vision loss, which may lead to early death and force the insurance company to pay claims. Life expectancy for people with Type 1 diabetes is approximately 12 years less on average than the rest of the general population.

The insurance underwriters are well-informed pros in statistics, studies, and company’s guidelines and will surely take this under consideration when concluding your application for coverage.

See also rates class qualification on the next section below to determine your rates based on your age.

Have you had any complications?

Living with Type 1 diabetes is extremely challenging. Your body doesn’t produce insulin, and your job is to manage your blood sugar by injections or insulin shots before various activities such as eating, sleeping, and even working out.

Keep in mind that any time there are any complications as a result of your diabetes, you will be denied coverage and may need to consider guaranteed issue plans.

Here are a few of the complications Type 1 diabetes can cause:

• Nerve damage
• Heart and blood vessel disease
• Amputation
• Vision loss
• Neuropathy

Overall Picture

Now, of course, diabetes is not the only thing life insurance companies look at. Other medical results will factor in, like if you have high cholesterol or are struggling with high blood pressure. There a handful of other common factors that insurance companies use to determine rates.

Now there is also the matter of lifestyle choices that will affect life insurance rates. Insurance companies can be nosy; smokers should beware. Habits such as smoking or reckless driving can hike up your rates.

If you partake in skydiving or other dangerous activities on a regular basis, some insurance companies may not want to insure you or will charge you an arm and a leg.

Occasionally, some policies become void due to the manner of death. For example, if you were to have a skydiving trip go wrong or commit suicide within the first two years of the policy, some companies will not pay out the death benefit.

It is always important to fully understand any policy you purchase.

Control

What matters more to the insurance company than the fact that you have diabetes is how well controlled your diabetes is. Consistently monitor your blood sugar and schedule regular visits to the doctor for A1C tests.

Before applying for life insurance, it is a good rule to have two or three back-to-back good A1C tests across a span of at least six months.

Maintaining a healthy diet, exercising, and taking any medication or insulin that your doctor has prescribed are three main areas that will help improve A1C results.

One way to approach life insurance for those who have type 2 diabetes run in the family is to buy permanent life insurance in their thirties before the risk of developing type 2 increases and before control ever becomes an issue.

What rate class can I qualify for if I have Type 1 diabetes?

As a broker, I work with more than 50 insurers but only aware of four companies who will consider individuals with Type 1 diabetes. My point is: You need someone on your side before you attempt to apply for life insurance.

Below is an estimation of the average prices you may qualify for, provided Type 1 diabetes is your only health condition, you have no complications, and you are compliance with your doctor’s orders. As you can tell, table ratings increase with younger ages, longer times since onset, poor control, or complications.

• Ages 0–17: Declined
• Ages 18–34: Table E–G (125%–200% over the standard rate)
• Ages 35–49: Table D–F (100%–125% over the standard rate)
• Ages 50–65: Table C–E (75%–125% over the standard rate)
• Ages 50–65: Table C–E (75%–125% over the standard rate)
• Age 66+: Table B–D (50%–100% over the standard rate)

What other questions will the underwriter ask?

Here are a few other questions you will need to answer:

• Current age
• Gender
• State of residence
• Height and weight
• Income and liabilities
• Occupation
• High-risk hobbies (if any)
• Current and past health history
• Family history
• Foreign travel
• Smoking habits
• Alcohol habits
• Driving history
• Criminal history
• Prescription usage

What are the insurance companies looking for when insuring Type 2 diabetics?

All insurance companies have different criteria when it comes to underwriting an individual for a life policy. However, they all have a very similar way of evaluating someone’s diabetes to see if he/she can get approved and which risk class they can get.

Managing Your A1c Level

I’m sure you don’t think about it often, unless you see your doctor or talk to an insurance broker, however, your A1c level may be the most important factor in getting standard plus rates. The A1c score is a blood test used to diagnose type 1 or 2 diabetes and to assess how well you’re managing your disease. The result paints a picture of your average blood sugar level for the past 2 or 3 months.

The A1c level also used to come up with a treatment plan and see how well it’s working (or not working). The higher the number, the worse you are managing diabetes, and the more prone you are to complications or an early death.  The lower it is, the better for you. According to the Mayo Clinic, for someone who doesn’t have diabetes, a normal A1c level is below 5.7 percent. Someone who’s had uncontrolled diabetes for a long time might have an A1c level above 8 percent.

Typically the insurance companies are looking for A1c levels below 7 percent to qualify for standard plus rating. If your A1c is over 10, you will be declined.  Make sure you apply only after the A1c has been controlled for a minimum of 6-12 months.

At what age were you diagnosed?

Life insurance companies understand that the longer you have had diabetes, the more predisposed to complications and issues in the future you are. The older you are when first diagnosed, the better, preferably over age 50.

Type of Medications Used

Oral medications, such as Metformin, are better than insulin when it comes to getting the best rates. If you don’t use Insulin for blood sugar control, you can get better rates. In fact, there are a few companies who will deny your application if you are insulin-dependent. Some other companies, such as Banner, will offer you a “table shaving” opportunity (getting a better rating class) if everything else is under control.

Lifestyle Changes to Control Your Diabetes

Type 2 diabetes is usually related to being overweight or having some other underlying health issue, such as high blood pressure or high cholesterol. It’s also highly related to one’s lifestyle choices, which include everything from the food you are eating to your movement habits. This is actually good news because it means that it’s in your control.

We can choose to eat healthier or move more often and therefore improve our situations. Life insurance companies love to see some lifestyle changes. If you can control your blood sugar with healthy eating and healthy lifestyle choices rather than with insulin shots, you will get rewarded for it, not only with your improved health but also with a lower premium for your policy. You should qualify for standard plus.

Height & Weight

As mentioned above since type 2 diabetes is highly related to your weight, this will be the second question (after your A1c levels) you would be asked by your insurance broker. Generally, you will need to fit the standard weight table and not the preferred (since you will already be rated as standard rating). For instance, a male 6’0” can weigh up to 280 lbs and not be considered overweight by the insurance company.

How Well Are You Following Your Doctor’s Orders

Are you getting a check-up once or twice per year? Do you take your medications accordingly? If you don’t follow your doctor’s orders, you will have a hard time getting insurance. The insurance carrier will order an APS (attending physician statement) and can confirm whether or not you are doing as you are told.

Anything other than the doctor’s order will show them that you’re too risky and they will deny the application. On the other hand, anything that shows that you are improving, getting your A1c lower every time you visit the doctor, and losing weight would all give you a better chance for lower rates.

Diabetes Complications

Diabetes complications include neuropathy, retinopathy, foot ulcers, and amputations, among others. If you ever experienced complications related to your diabetes, it will increase your standard rating to table ratings (higher rates). It will depend, off course, on how severe it was, but you should expect to pay more.

Are you a smoker?

Smokers pay 2-3 times as much as non-smokers, depending on age, gender, and other health factors. If you are a smoker and also have type 2 diabetes (which also may include other issues like being overweight or having high blood pressure), you could find yourself in the table rating category, paying more than 400% of the standard rate, or even being denied altogether.

Overall Health Is the Insurance Company’s Main Concern

Sure there are many other variations they are looking at, such as your driving history, family history, occupation, and hobbies, among others, but after all, it’s your overall health that they are interested in the most. If you have don’t have high blood pressure or cholesterol and are making improvements when it comes to your lifestyle, you have a very good chance to get better table ratings and enjoy a lower premium.

What if I was denied life insurance with diabetes?

First, we will need to find out what the reason was that you were declined. However, you may still have four other options:

• You could try to apply for a simplified issue policy, which doesn’t involve any exam and only has a few health questions to which you will need to answer “no.” The max death benefit is usually up to $50,000, and Assurity Life would be an excellent choice if you haven’t had any complications due to your diabetes. This is a permanent policy which lasts for as long as your premiums are paid and also carries a cash component in it.
• You could apply for a guaranteed issue life insurance. They will not pay the full death benefits if you die within the first two years of the policy. This is last resort type of a policy for individuals who can’t get a traditional policy.
• You could apply for an accident plan. Although, I wouldn’t call this life insurance since they will only pay if you die from something accident-related.
• You decide to manage your diabetes and buy nothing now. Probably not the best choice insurance-wise, although it’s great for your diabetes and that you are getting healthier. You choose to get better and apply at a later time when you have your weight and other health issues under control.

Shopping for Life Insurance with Diabetes

About half of the 30 million people with diabetes don’t have enough life insurance or have no life insurance at all. Diabetes is no longer a black and white factor, and in fact, diabetes may be changing the game for insurance companies.

Some companies are taking advantage of technology and the new territory to bolster efforts of maintaining healthy lives and thus extending overall life expectancy. The changing view on the manageability of diabetes allows room for productive creativity on the part of the companies.

Top Providers

In the age of fitness watches, tech giants are making a lot of money from the people who are trying to stay fit and healthy. John Hancock life insurance and Verily Life Sciences teamed up to get in on the action and save people money.

Life insurance underwriting can sometimes be a hassle and not as accurate as it could be. With the huge leaps and bounds in technology over the past couple of decades, it comes as no surprise that the life insurance industry is beginning to hop on board.

By using technology to help manage and improve diabetic conditions, life insurance companies are able to decrease their odds of having to payout.

Those enrolled in Aspire™ from John Hancock back in November 2019 are the first people with access to a tech-enabled wellness program that can ultimately cut off a quarter of their life insurance premium.

It is only a matter of time until programs like this become standard.

When consumers have access to health and fitness coaching, clinical support, and education resources, life insurance companies consider the risk to minimize, thus rewards and discounts.

So, let’s cut to the chase and look at some ballpark estimates of monthly rates. First, males that are 35, 45, or 55 years old.

For most people term life is the way to go. Although whole life is more expensive, it may be worth it down the road if you have the money. It is advised to have a 401k retirement plan or other savings vehicles in addition to a whole life policy.

It was mentioned that women pay less in life insurance premiums than men. The table below backs that conclusion.

Of course, you must be realistic about your finances when buying a life insurance policy, but it is important to strive for buying a policy early for the longest term possible.

Don’t sell your life short, especially when life expectancy continues to rise for everyone.

What can you do?

Let us summarize here the many things one can do to benefit their situation regarding diabetes. First off, do not wait to see a doctor. Most life insurance companies require underwriting, which includes accessing medical records.

It is essential to talk with your doctor about your current medical status and what possible steps could be taken to improve your health.

If you receive an A1C test with prediabetes or diabetes range results, it must be monitored.

When applying for life insurance, it is best to have a couple of A1C test results that show consistent control over one’s blood sugar. The best way to keep one’s blood sugar under control is by first examining one’s weight and lifestyle choices.

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Case Studies: Securing Life Insurance With Diabetes

Case Study 1: John’s Type 1 Diabetes Journey

John, a 32-year-old software engineer, was diagnosed with type 1 diabetes at the age of 14. As he grew older, he realized the importance of securing life insurance to provide financial security for his family in case of the unexpected. John approached several insurance companies to find a suitable policy for his needs.

Insurance companies recognized that type 1 diabetes posed higher risks, and John was offered substandard pricing with higher premiums. After carefully comparing different policies, John chose a modified life insurance policy that offered lower premiums for the initial three years. He believed that his income would increase in the future, allowing him to handle the higher premiums later. John committed to maintaining a healthy lifestyle and regular insulin management to improve his prospects for better rates in the future.

Case Study 2: Mary’s Type 2 Diabetes Management

Mary, a 55-year-old marketing executive, was diagnosed with type 2 diabetes at the age of 50. Concerned about securing life insurance for her family’s financial protection, Mary explored her options. She was proactive in managing her diabetes, following a healthy diet, exercising regularly, and taking prescribed medications.

Mary considered different types of life insurance policies and found that simplified issue life insurance was suitable for her situation. With this policy, Mary didn’t need to undergo a physical exam, and the underwriting process only required answering a few health questions. Though the policy came with higher premiums, Mary valued the simplicity and convenience of the application process, ensuring her coverage without hassle.

Case Study 3: Robert’s Guaranteed Issue Policy

Robert, a 67-year-old retired teacher, had struggled with type 2 diabetes for many years. Having faced multiple rejections from various insurance companies, he felt discouraged about securing life insurance. Despite his efforts to manage his condition, Robert knew he needed to find a last resort option to ensure financial protection for his loved ones.

Robert opted for a guaranteed issue life insurance policy, which did not require medical exams or health questions. This policy was his final option for obtaining coverage, even though it came at a higher cost. Though the policy wasn’t ideal, Robert found comfort knowing his family would receive financial support upon his passing.

The Bottom Line

Anyone with diabetes knows how important it is to stay on top of your disease and not let it run you. Life insurance companies are now starting to realize the power one has to control their diabetes.

Done are the days where diabetes was an automatic disqualification. This transformation of life insurance for diabetics has allowed for several different policy options, all with varying rates depending on other health and lifestyle factors.

Are you ready to stop letting the excuse of diabetes stop you from financially protecting your family? Start comparison shopping now! Use our FREE online quote tool below.

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