Applying for Diabetic Life Insurance

The premiums you pay for life insurance with diabetes will ultimately depend on both your control level and overall health.

Many diabetics think they are not insurable, which is simply not the case!

Most people can find affordable life insurance for diabetics, especially those who control their blood sugar levels well with diet or oral medications.

People seeking life insurance after a diabetic diagnosis should be prudent in their search to find the best prices in today’s marketplace.

We simplify your search by using only niche carriers familiar with the risk factors presented in underwriting people with diabetes

Can I find cheap life insurance for diabetics without doing a medical exam?

In 2019, there are a few companies that do not require an exam provided that you only have Type 2 diabetes.

Instead of an exam, your underwriting information is gathered through traditional underwriting sources including; an application, a MIB check, a motor vehicle report, and your prescription drug records.

However, the premiums may be more expensive because the insurance company is not able to measure your risk factors accurately.

This is the reason we normally recommend that you take a medical exam with only companies using clinical underwriting.

Clinical underwriting considers your overall medical history and your control level when you are applying for coverage.

Insurance companies not using this underwriting philosophy automatically issue a substandard rate to most applicants being treated for diabetes.

So, if you need life insurance for pre-existing conditions and would like to have more options for coverage, we suggest following our step by step program.

Here is how the life insurance exam process works:

First, your medical history is evaluated to determine which company may be best suited for your diabetic condition. Then, we start the application process by having you complete a life insurance blood pressure test, urine and blood sample, and height and weight measurement. Please also try to have the following medical information put together for your nurse: Have the name, address, and phone number for the doctor treating your diabetes.

Check with your physician to make sure they have all the documentation for your treatments.

Keep a current list of all medications and the dosage for each prescription. Then, we order the required medical summary including your follow-up on your diabetes from your regular doctor Finally, your medical profile is presented to multiple life insurance companies to determine which company can offer you the best rates.

Having your medical history available will simplify the process of finding affordable life insurance for diabetics.

Thankfully, Type 2 or adult onset applicants have a easier path to finding life insurance with better rates then those who were diagnosed earlier in life.

Although applicants with Type 2 will usually not be eligible for preferred rates, many can still be insurable at standard plus or standard rates.

Typically, the best life insurance rates for diabetics can be found at the Banner Life Insurance Company.

Diabetic Life Insurance Case Studies



When looking into a life insurance with diabetes, it is often difficult to know exactly the premiums you will pay until your policy goes through the underwriting process.

With many common medical conditions, many agents give quotations based on the best rate class in order to win your business.

But, the risk classification the life insurance company actually gives you is the key to finding cheap life insurance for diabetics.

The Life Insurance Rate Classifications

Preferred Plus Table A = 25% above standard rates Preferred Table B = 50% above standard rates Standard Plus Table C = 75% above standard rates Standard Table D = 100% above standard rates

Our goal is find the company which will offer you a “standard plus” thus, avoiding the typical 50% increase in cost associated with a substandard rate.

This classification is only available if you are in excellent overall health; meaning you are not a smoker or overweight, and have a good medical history.

Instead of being assessed a table rating just because you are being treated for diabetes, the exam process validates both the control of your condition, and compliance with your physicians plan for treatment.

This allows you to get into the standard plus category which usually equates to over a 50% savings for our happy clients!

This differs dramatically from the preferred plus rates underwriters offer for high blood pressure or how they classify cholesterol treatment.

Life Insurance with Diabetes with Excellent Control

Here is a practical example illustrating the difference in price between two companies assuming excellent control.

Horace applies for a $500,000, 2o year term life insurance with diabetes when he is 62 years old.

Horace applied for term life insurance with diabetes when he was 62 years old.

Diagnosed with diabetes at age 55

A1C level 5.8

His condition is controlled by diet only (no medication)

Routine follow up appointments with his doctor

No other medical history

Underwriting decision: Approved at a standard rate class

Premium: $5,900 annually

Company A Company B Rate Class Standard Rate Table 2 Rate Premium $5,900 $9,023

Company A applies clinical underwriting and issues Ron a policy with standard rates, while company B only permits a sub-standard rating.

Wow, that is close to $3,0000 in savings per year for Ron with nearly $60,000 in savings over 20 years!

diabetic life insurance with Moderate Control



Here is another example illustrating the difference in price between two companies assuming only moderate control levels

Tina applied for term life insurance with diabetes when she was 55 years old. Diagnosed at age 52

A1C level 7.5

Diabetes kept in check with medication

Routine follow up appointments with her doctor

No other medical problems

Underwriting decision: Approved at a Table 2 rate class

Premium: $1,229 annually Company A Company B Rate Class Table 2 Rate Table 4 Rate Premium $1,229 $1,823 Company A applies clinical underwriting and issues Tina a policy with only moderate sub-standard rates! Many life insurance agencies do not have the expertise or breath of companies to find these great offers for you! So, it is very important to work with a nimble independent agency with knowledge of diabetic underwriting, which is not typically found in big call centers like Select Quote or Matrix Direct.

Types of Life Insurance for Diabetics



Please take the time to shop around and most affordable policy for your unique planning needs.

Many people are not aware of which carriers offer favorable life insurance rates for diabetics.

You could always apply to a bunch of life insurance companies, so that you can find out who offers the best type of policy for you.

This takes time and effort!

We work with many life insurance companies, and know which companies can offer the best life insurance rates for diabetics.

There are a few different types of life insurance policies to consider:

Term Life Insurance – Term life offers guaranteed death benefits and level premiums for an initial period such as 10, 15, 20, or even 30 years.

Term coverage offers cheap life insurance for diabetics to cover a specific need for fixed period of time.



Universal Life Insurance – This is a form of permanent life insurance with a guaranteed premium and death benefit guaranteed for your entire lifetime.

Getting approved for affordable diabetic life insurance rates is not that difficult, but may take a bit more time and patience.

Once you are approved, we always recommend locking in your rate for as long as possible.

This is because obtaining life insurance for diabetics become more expensive or even impossible if you ever become insulin dependent.

Permanent life insurance for diabetics is good idea because the coverage will remain with you for your entire lifetime.



Regardless of your health!

How Much does Life Insurance for Diabetics Cost?

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