Quick Tip: Choose “Regular” health class on the quoter on the side of this page and view rates on the next screen. If you’re a well-controlled Type 2 diabetic diagnosed over age 50, you can qualify for the rates displayed. Otherwise, you can still get coverage (with no medical exam even), but it will be a little more expensive.
Securing life insurance as a diabetic can be very affordable, depending on the life insurance company you use and how well your diabetes is controlled.
This article will give you the info you need to get a no exam plan as an applicant with diabetes. Consider it the definitive guide.
Here’s what we’ll cover:
- 5 Things to Know About Life Insurance for People with Diabetes
- How Much Will Life Insurance Cost with Diabetes?
- Life Insurance with Type 1 vs Type 2 Diabetes
- Life Insurance with No Medical Exam for Diabetics | Best Companies
- Burial Insurance for Diabetics | Best Companies
- How To Apply for Life Insurance for People with Diabetes
We know the journey of securing cheap life insurance for diabetics can be frustrating.
Diabetics are declined for coverage all the time, and it’s usually because they used the wrong company.
Many diabetics are paying too much in premiums for life insurance coverage.
There’s an increasing amount of life insurance companies looking more favorably at diabetes, including many carriers who sell no medical exam life insurance policies.
In this article, we’ll show type 1 and type 2 diabetics how to secure the best life insurance rates, including top companies.
5 Things to Know About Life Insurance for People with Diabetes
Before purchasing life insurance, know these general facts about securing life insurance with diabetes.
- If your diabetes is under control, you’ll have no problems securing coverage. It’s a huge misconception that you can’t qualify for affordable life insurance coverage.
- The most important part of this process is actually securing coverage. We find that many diabetics think the traditional process is too long and give up midway through the process. We recommend securing coverage without an exam first (if you qualify) and getting coverage in force NOW, then apply with a medical exam. Cancel whichever one is most expensive.
- If your diabetes isn’t under control or you have other health complications, you can still find an affordable life insurance policy.
- A life insurance agent will need to know your current a1c levels and how they’ve been for the last year, your current medications, your build, when you were diagnosed, and of course if you have type 1 or type 2 diabetes.
- Every life insurance company will look at your diabetes differently. It’s up to you or your insurance agent to find the company with the lowest rates. In other words, there isn’t a specific company that will be best for every diabetic.
How Much Will Life Insurance Cost with Diabetes?
This depends on the health classification a life insurance company will assign your risk.
Every company has different standards for applicants with diabetes. The best life insurance rates will be given to those with well-controlled diabetes who were diagnosed later in life.
If your diagnosis was recent, the life insurance underwriting process will typically require 2 or 3 follow up visits to demonstrate control.
The more expensive life insurance rates will be given to uncontrolled diabetics. Also to those who don’t take their treatment seriously, like smokers and overweight people who don’t try to control with diet and exercise.
Life Insurance Health Classes for Diabetics
Here’s a brief summary of the different health classes and how they relate to people with diabetes.
Preferred Plus: This is the best class you can qualify for. This is reserved for those without any health issues. Diabetics cannot qualify for preferred plus rates.
Preferred: This health class is typically given to those with very minor health issues – something like controlled cholesterol or high blood pressure. You must have been diagnosed over age 60 and have your diabetes under control. This is the best you’ll get as a person with diabetes.
Standard Plus: This health class is given to those with above-average health. For diabetics, if you’re diagnosed over age 50 and have everything under control, you could potentially get this health classification as long as there are no other health or lifestyle issues.
Standard: Consider this an average health class – what most of the country qualifies for. If you were diagnosed with diabetes after age 50, you could qualify for this health classification.
SubStandard (Table Rating): This group of health classifications ranges from Table 1 (+25% of standard rates) to Table 8 (+200% of standard rates). It’s reserved for those with health complications. Most diabetics fall within Table 1 – Table 8 health class.
Now that you have all of this information, you have to understand, every company and situation is different. These are standard guidelines, but you may not have a standard application.
At Rootfin, we’ve seen the following trends.
- Preferred rates for controlled type 2 diabetics onset over age 60 and controlled with diet and exercise. We currently know of only one company doing this.
- Standard rates for controlled diabetics onset after age 50. If this is you, run an instant quote on our website at Standard rates.
- A substandard rating will be given to people whose diabetes onset under age 50 or those that aren’t under control.
- As a general rule of thumb, type 1 diabetics will start at a “table 4” substandard rating.
The best advice we can give you is to contact us and let us provide you with the information you need to make an informed decision.
What Affects Your Life Insurance Health Class?
In general, it depends on 3 factors:
- Your A1C levels – current and over the last year. Basically, underwriters want to know how well controlled your diabetes is.
- Your current age and when you were diagnosed. If you’re diagnosed over age 60, you can still qualify for preferred rates. For people diagnosed over age 50 and you can qualify for standard rates. For over age 40 you’ll qualify for Table 2 rates most likely (some exceptions).
- What type of diabetes do you have? Type 1 or 2?
There’s a lot more information we need to accurately assess your diabetes, but knowing these 3 pieces of information, we can determine your health classification.
How Diabetics Can Find Affordable Life Insurance Policies
The best way to receive lower rates for life insurance, especially for type 2 diabetics is to take the following steps.
- Effectively manage your diabetes through a healthy diet and exercise
- Control your diabetes
- Lower your A1C
- Reach a healthy body weight
- Take less medication
If you don’t know what a “healthy body weight” is, look at a body mass index chart. These charts have underweight, healthy, and obese, weights for your height. Inside of the healthy range should be your goal for getting better life insurance rates. If you are overweight, you can still get life insurance for overweight people.
Aside from lowering your blood sugar levels, a healthy diet, and regular exercise will improve your overall health and reduce your risk of other health complications like heart attacks, kidney problems, strokes, and much more. Just like with non-diabetics, having a having lower cholesterol, and lower blood pressure will mean lower rates.
Your life insurance rate will also factor in other risk factors. A family medical history of cancer or heart disease (something you have no control over) can impact your rates. If you skydive, scuba dive or do any other hazardous activities, your rates will be impacted. Same goes for any DUIs, reckless driving tickets or an excessive amount of speeding tickets.
As you can see, it’s not just your diabetes you have to be mindful of, when searching for affordable life insurance rates.
Life Insurance with Type 1 vs. Type 2 Diabetes
Does it matter to life insurance companies which type of diabetes you have?
Yes, it typically does matter. In most cases, type 1 diabetics will have a more difficult time finding life insurance, especially with no medical exam. However, it’s not impossible.
Life Insurance for Type 1 Diabetics
The truth is, a lot of life insurance companies won’t write life insurance for type 1 diabetics and most of the companies that do, will give you very expensive rates.
There are a few companies really leading the pack in more favorable type 1 diabetes life insurance underwriting. Here’s what you’ll want to consider narrowing down the companies that will work with type 1 diabetics best:
- A1C levels (current and past)
- Age diagnosed
- Insulin type: Novolog, Lantus, Humulin, Humalog, Apidra?
- How many units per day?
- Any other medications?
- Any diabetic complications?
- Any other health issues?
Every carrier views Type 1 diabetes differently, so it’s important to pinpoint the company that will view your situation most favorably.
For those who have their type 1 diabetes under control, affordable rates are available under these conditions:
- Compliance with medications and testing. Underwriters want to see documented results and know you’re serious about controlling your diabetes. The best offers are given to those with consistent follow up on their diabetes with proof in their medical records.
- No diabetes-related complications. If you have any eyes, foot or skin complications, you’ll have a hard time finding affordable rates. Depending on the severity, it may still be possible to get your insured, but you may have to settle for a graded death benefit policy.
- For juvenile type 1 diabetes, you must be over age 30 and have consistent a1c levels below 7.
- For adult-onset type 1 diabetes, it must be at least 1 year since your diagnosis, and you must have a1c levels below 7.
The biggest mistake type 1 diabetics make when searching for the best diabetic life insurance rates is contacting their bank, State Farm, Farmers or Allstate agent, or even a life insurance call center.
These agencies are great at their core business but aren’t specialists in your risk. Most of the declines we see are from banks, local insurance agents, and call centers.
Life Insurance for Type 2 Diabetics
If you have type 2 diabetes, you will have an easier time obtaining life insurance. However, you should still compare companies to find the best rates. Choosing the first company you see could cost $1000’s more over the lifetime of the policy.
Still, with type 2 diabetes, you’ll get better rates if you have your diabetes and other health issues under control.
What About Gestational Diabetes?
When you are pregnant, the body naturally becomes more resistant to insulin than before so that there is enough glucose available to nourish the baby. With gestational diabetes, the pancreas isn’t keeping up with the demand for the insulin, which causes blood sugar levels to get too high because the body isn’t adequately using the glucose.
When it comes to gestational diabetes and life insurance, many life insurance carriers don’t put much weight on it because it is usually only a temporary condition and most of the time goes away when the baby is born.
However, there may be a concern if the diabetes continues after the pregnancy and turns into Type 2 diabetes. If you did not show any signs of diabetes before you became pregnant, you should still be able to find affordable life insurance rates despite gestational diabetes.
Life Insurance with No Medical Exam for Diabetics
Despite what many TV commercials and life insurance companies say, diabetics can qualify for life insurance with no medical exam.
There are a couple of carriers which offer life insurance for both Type 1 and Type 2 diabetics with no exam required in term or whole life policies.
5 Best No Medical Exam Life Insurance Companies for Diabetics
Here are the top 5 life insurance companies who don’t require a medical exam for diabetics:
If you’re a Type 2 diabetic and have your diabetes under control without any other major health complications, Foresters may approve you within 1 week and sometimes within 24 hours. Up to $400,000 of coverage. Factor in the living benefits and member benefits, and we highly recommend this product if you can qualify.
For their “Express” product (48-hour approval), Type 1 and Type 2 diabetics can secure up to $400,000 of coverage if under control and over age 30.
Their “Safe Harbor” product will be less expensive and go up to $500,000, but Nassau RE (formerly Phoenix) will pull your medical records and make a decision based on those (4+ weeks for approval). Phoenix will also pay up to 95% of the death benefit for any heart attack, cancer diagnosis, stroke, or renal failure. A big benefit for diabetics.
For well-controlled Type 2 diabetics, you can get coverage approved within 24 hours for a Sagicor life insurance policy.
You must be diagnosed over age 40, taking oral medications or controlling with diet and exercise. You can get up to $500,000 of coverage. You must be in excellent health, only taking one other minor medication. If you can qualify for this product, you’ll get some of the best non-med rates available.
Mutual of Omaha Term Life Express
Mutual of Omaha’s simplified issue product is a bit more expensive than the other 3 carriers mentioned, but they come into play for diabetics in 2 instances:
- If you’re over age 50 and can’t qualify due to your height and weight with the other 3 carriers
- If you haven’t seen a doctor in 3 years
Mutual of Omaha doesn’t have a build chart over age 50 and doesn’t have the question if you’ve seen your physician in the last 3 years.
Mutual of Omaha offers coverage up to $300,000 from age 18-50, and $250,000 for age 51-65. There are also living benefits included with the policy, which means you can access the death benefit while living if you have a covered chronic or critical illness.
United Home Life
United Home Life has a 20-year term product that takes Type 1 and Type 2 diabetics. It’s the best priced “no exam” term life insurance policy for Type 1 diabetics. It only goes up to $50,000 of coverage. Even if you don’t have full control over your diabetes, you may still qualify for this policy.
January 2018 Update: We removed American National (ANICO) because they recently started requiring an exam for diabetics. We removed Americo in favor of Foresters.
September 2019 Update: We removed 5 Star life insurance company and added Mutual of Omaha.
Securing life insurance with no exam as a diabetic is not hard if you know where to look. We always recommend going the no exam route (if you can qualify), just to get coverage in force. You can always cancel your policy if you find a better rate with a medical exam.
Burial Insurance for Diabetics
Burial life insurance is simply a small whole life policy to cover final expenses. There are no medical exams, and it’s an easy policy to get. You can actually have coverage in force within the next 30 minutes, depending on the company.
Burial insurance is usually $5,000 to $50,000 of coverage guaranteed level coverage.
These burial insurance policies, also known as “final expense” policies are the easiest way to secure coverage as a diabetic and a very popular one for the over age 50 crowds with some other health issues beyond their diabetes.
Most diabetics can get $10,000 of coverage for around $40-$60 per month in their 50’s, and around $60-$90 per month in their 60’s. These are ballpark numbers just so you know what to expect.
When looking into burial insurance that is affordable, many insurance companies will ask you a series of questions relating to your diabetes. For example, they will ask if you were diagnosed before you turned 50, what medications you are taking, if there have been any health complications as the result of your diabetes, how many units of insulin you are taking per day, and more.
For burial insurance, however, they will not typically inquire about your A1C levels, how many years you have been diabetic, and they never really ask about your family medical history.
Make Sure You Get 1st Day Coverage
The number one thing to know about burial insurance for diabetics is to always make sure you’re getting “first-day coverage.” This means there’s no waiting period until you receive coverage.
There are many burial insurance companies that advertise on TV, radio and online that have a 2 year waiting period (known as the “Graded Death Benefit”) and they advertise as if this is normal.
Well, it’s not normal, and it’s very expensive. Your coverage should start as soon as you make your first premium payment. You’ll have the coverage for as long as you pay the monthly premiums on the plan.
Best Burial Insurance Companies for Diabetics
With all that said, here are the best burial insurance companies specifically for diabetics that you can purchase over the phone. All underwriting notes are what it takes to get “first-day coverage” described above.
Type 1 and Type 2 diabetics taken. Great member benefits beyond the life insurance coverage.
Most Type 2 diabetics accepted, even with Neuropathy and Retinopathy. For Type 1, as long as there’s been no insulin before age 30.
Most Type 2 diabetics taken. If you’ve had a diabetic coma over 2 years ago, you can qualify for first-day coverage. Type 1 diabetics taken if you didn’t become diabetic before age 9.
Mutual of Omaha
Type 1 and Type 2 diabetics are taken as long as your diabetes is under control. This is the most popular option due to Mutual of Omaha’s name recognition and low rates.
AIG Guaranteed Issue
This AIG policy is guaranteed issue coverage with no health questions asked. There is a 2-year waiting period. Only use this burial insurance policy when all other companies won’t take you.
If you’re over age 50 and have diabetes and are considering burial insurance coverage (also known as final expense), consider those 5 companies above. They’re diabetic-friendly and have very competitive rates depending on your unique diabetes risk.
What Life Insurance Underwriters Need to Know
Once you have completed your life insurance application, the underwriting process begins. One part of the underwriting process is an interview in which you will most likely be asked health questions.
They will inquire about the type of diabetes you have, the age when you were first diagnosed, and they will want to know what your most recent labs have said. These labs include A1C, cholesterol, fasting blood glucose, proteins, and creatinine.
Many insurance companies will ask you these health questions, and some will require a medical exam. But in this article, we are focusing on life insurance for diabetics that do not require any kind of medical exam for approval.
Remember, though, all of your risk factors will still be taken into consideration. They will also want to know about any other additional health issues, if you have any pre-existing health conditions, and any complications you may be experiencing due to your diabetes.
Making sure that all of your information is organized can help you more adequately and completely answer these health questions.
The Impact of Not Having a Medical Exam
Many insurance companies ask for a medical exam before offering life insurance to prove that the applicant is in good overall health. However, some insurance companies as you have learned here do not require this and instead only ask that you answer some simple health questions.
So, what is the impact of not having a medical examination?
Life insurance with no medical exam is often costlier than if you did have a medical exam. Most insurance carriers offer rates based on a person’s risk.
On the other hand, with a medical examination, you may find that you may have pre-existing health conditions you were not aware of, you can face denial of your application due to a health condition, or the medical examiner may find a more serious health problem that can also affect your rates.
How To Apply for Life Insurance for People with Diabetes
Searching for life insurance is never an easy task, even for someone without diabetes, but for someone with diabetes, it’s extra difficult.
Instead of having to call dozens of insurance companies, fill out the quote form on this page and give us a call. We will be able to compare multiple companies and life insurance quotes for you to find the best rates available.
Even if you’ve ever been denied life insurance coverage because of your diabetes diagnosis or you’ve been told that you’ll have to pay a fortune for life insurance coverage, don’t believe it. There are affordable life insurance options for people with type 1 or type 2 diabetes that you can choose from.