Life Insurance for People with Diabetes

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The average a1c for a non diabetic is 5.0.  For many diabetics who have their diabetes under control, this number may range from 6.0 to 8.0.  And for uncontrolled diabetes this level may approach the teens or even twenties, which would be classified as extremely dangerous blood sugar levels.  As far as life insurance companies are concerned, the lower your a1c, the better.

The other factor affecting your life insurance diabetes pricing is your current age.  Better rates are typically available the older you are.  If well controlled, diabetes is a slowly progressing disease, so how risky is it really for an insurance company to insure a 70 year old who was recently diagnosed as a diabetic?  Not too risky.  Chances are something else will lead to his demise other than diabetes.  But if you’re 47 years old and diabetic, you’re young enough for the disease to possibly progress and affect your life, (and life expectancy).

Other medical issues combined with diabetes will affect your overall health rating.  For example, combining health impairments such as obesity, heart disease, or tobacco use will greatly increase your premiums, since the health risks are exponentially compounded when adding to the diabetes.

To sum up the cost of life insurance polcies with diabetes question, your absolute best deals and lowest prices will be offered to diabetics over age 60, diagnosed recently (within 5 or 10 years), who control their blood sugar well.

How Will Taking Insulin Affect the Cost?

We find for many of the large life insurance companies, whether you take insulin or any other medication for that matter, is not their main concern.  Their concern is that your blood sugar levels are well maintained.

Does Type of Term or Whole Life Affect Rating?

Some of our diabetic clients ask if they buy a short term policy such as 10 or 15 year term life insurance, will the insurance carrier give them a better rating.  After all, they argue, I’m only going to keep the policy for a10 year duration.

The truth is life insurance companies do not distinguish between ratings based on length of term, because most term policies, even 20 year term and 30 year term, have conversion options.  So a diabetic client can’t argue he will only keep the policy for 10 years, since if he’s unhealthy or dying at the end of year 10, he could convert the policy or pay on an annual renewable term.

You may obtain life insurance approval at a better rating for term life insurance if you apply for over $250,000 of coverage with United of Omaha.  At this level, you would be eligible for their FIT credits, allowing someone with a substandard rating possibly get back to standard with credits for things like being a lifetime non smoker or having a college degree.

Diabetics may also find better ratings applying for a permanent type policy, such as whole life insurance or universal life insurance rather than term.

How to Get a Quote

For the fairest estimate, you can start by using our quote form on the right to get a life insurance diabetes quote.  Rate yourself as regular, or standard.  But please understand you may not qualify for standard, depending on the factors described in this article.  Diabetics can also call us for a personalized term life insurance quote at 877-996-9383.