Diabetic Life Insurance | The bank rate

For many people, life insurance is the foundation of financial and estate plans. A suitable life insurance plan can give you living benefits, replace your lost income for loved ones if you die or give a gift to a family member or charity. Since life insurance rates are often heavily influenced by your overall health, people with diabetes may assume they won’t be able to find a policy.

Fortunately, this assumption is wrong. People with diabetes can find coverage, although it may take a little more research and planning. Bankrate’s research can help you choose companies that offer policies for people with diabetes. Knowing more about life insurance for diabetics could make your insurance search easier.

Can people with diabetes buy life insurance?

The short answer is yes; people with diabetes can get life insurance coverage. However, the specifics of your diagnosis and condition will affect how much you pay. If your diabetes is well controlled and you are otherwise healthy, your premium may not be much higher than for someone without diabetes. The more serious your condition, the more you will pay for your coverage.

What types of life insurance are available for diabetics?

There is no specific type of life insurance that is better suited or more widely available to people with diabetes. Generally, diabetics can get the same types of life insurance coverage as those without this condition.

However, people with diabetes will likely pay more for life insurance. You may also not be able to purchase the same amount of life insurance. If your life insurance requires a medical examination, the results could also affect the amount of insurance you can buy. Poor medical exam results could mean a business will cap the amount of coverage it is willing to offer.

Are there specialized life insurance policies for diabetics?

Most life insurance companies will sell policies to people with diabetes. However, premiums and levels of coverage may depend on the answers to the questions in your application and the results of your medical examination. If your condition is advanced, you may want to consider policies that do not require a medical exam or guaranteed issue policies.

What factors affect people with diabetes looking for life insurance?

There are several factors that can play a role when it comes to purchasing diabetic life insurance. Some of these factors include:

Type of diabetes

People with type 2 diabetes may have an easier time qualifying for life insurance than those with type 1 diabetes. Most insurance companies consider type 1 diabetes to be more risky than type 1. 2, so you can expect to pay higher premiums for the same amount of coverage.

Disease management

If your diabetes is well controlled through lifestyle changes, you will likely pay lower premiums than if you had to take medication. If you are dependent on insulin, you will likely pay higher rates.

Other health problems

If you have other health conditions, such as high blood pressure, heart disease, cancer, a history of drug abuse, or taking other medications, it can be difficult to qualify for life insurance. A guaranteed issue policy might be the best option in such cases, although your premium will likely be high.

Best Diabetic Life Insurance Companies

A lot life insurance companies provide life insurance coverage for people with diabetes. Some of them offer bespoke policies designed specifically for diabetics, while others simply offer guaranteed issue policies with no subscription requirement. Here is a brief list of companies that diabetics can turn to for coverage:

Life insurance company Do they offer policies for diabetics? Is medical underwriting compulsory?
AIG Yes No
Mutual of Omaha Yes No
At national scale Yes Yes
Prudential Yes Yes


AIG offers a range of life insurance products, including guaranteed issue whole life insurance, which means you can skip the medical exam. If your illness is well under control, you may also be eligible for universal or temporary life coverage.

Mutual of Omaha

Mutual of Omaha offers several types of life insurance, including term, whole and universal life. Guaranteed issue policies are available, which may make it easier to find life insurance coverage.

At national scale

Nationwide offers a range of life insurance products including term, whole and universal life insurance for people with type 2 diabetes. However, it does not cover people with type 1 diabetes.


Term and whole life policies are available from Prudential, and no minimum age of diagnosis is required. The company also offers many online life insurance resources.

What happens to existing policies if I am diagnosed with diabetes?

Those who are diagnosed with diabetes after purchasing a life insurance policy have nothing to fear. If a newly diagnosed diabetic has already purchased a life insurance policy, the policy will not change. For permanent policies like whole life insurance and universal life insurance, this means you are covered for the rest of your life at pre-diagnostic rates.

If you have a term policy, your payments will stay the same until the end of your term, typically five, 10, 20, or 30 years. At the end of your term, you can choose to let the policy expire or convert your policy to a permanent policy before the expiration date or the maximum age dictated by the policy. Converting your policy will allow insureds to bypass the medical examination and use their health assessment from their initial claim.

If you wish to renew the policy, your condition will be assessed and your new rates will reflect your diagnosis. If your diabetes is severe, you may be denied the opportunity to renew your policy and you may need to consider a guaranteed issue policy.

Frequently Asked Questions

What is the best life insurance company?

the best life insurance company will depend on your specific pricing factors, including your medical condition, the type of policy you want, the amount of coverage you are looking for, and any optional endorsements you may want to add. Just like with Home Insurance and car insurance, the best business is different for everyone. Getting quotes from multiple companies can help you find a carrier that meets your needs.

It is important to note that since life insurance companies can change their guidelines, the best company today may not be the best in the future. Once you’ve chosen an insurance company, it can be important to shop later.

What if my health improves after being diagnosed with diabetes?

Improving the health of a policy with a standard or rated rating and changes to life tables are the two times it’s usually best to shop around for your policy to see if a better rate is available.

If you have a permanent policy with cash accumulation, you can exchange those 1035 funds for your new policy and avoid any tax consequences.

Why is life insurance more expensive for people with diabetes?

Like all insurance policies, life insurance premiums are risk-based. Diabetes can make you greatest risk to develop heart disease, nerve damage, kidney damage and other conditions, therefore, life insurance companies charge more to offset this risk. This is also why your premium will depend on the severity of your diabetes and how well it is controlled.

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