Life Insurance with Diabetes

Planning for your Future

Life Insurance with Diabetes [ A In-Depth Guide to Obtaining Affordable Rates]


     Obtaining Life insurance with diabetes can be an intimidating task. It shouldn’t be. People are often told they can’t obtain a life insurance policy or if they can, the price will be too high. Absolutely not true.  You have plenty of options.  Plenty of strong affordable options to obtain life insurance with diabetes.  Let’s dive into the specifics.

Problem number 1 obtaining life insurance with diabetes-  Speaking to a Life Insurance Agent with limited options.  Some Life Insurance Agents are known as Captive Insurance Agents.  They have one option for the product.  Obtaining Life Insurance with diabetes with these Agents can prove difficult.  It’s no fault of there own.  Underwriting guidelines just make it difficult to obtain the life insurance with diabetes.

Working for a captive company would limit the agent’s ability to look for rates favorable for the client. This will force the agent to state that “I don’t have anything that will work with high risk” situations. An agent may even inform the client that they may decline.  This may be the case attempting to obtain life insurance using that particular life insurance company.

I discuss this before.  Obtaining Life Insurance with diabetes or any impaired risk should always be done carefully.  Obtaining the life insurance with diabetes will require special attention and underwriting. “9 reasons why to choose an Independent Agent as opposed to a Captive Insurance Agent to obtain your life insurance.”

Life Insurance with Diabetes – Preparing for the Unexpected


Without getting too much involved in that topic lets dive into one of the most common medical concerns in America. Let’s really take a look at how to obtain life insurance with diabetes.

Life Insurance with Diabetes
Life Insurance with Diabetes- Where to Begin?

You are looking for Life Insurance while diagnosed as a diabetic. It is never going to be an enjoyable task. It should not be viewed as a daunting task!

Plenty of options exist for Life Insurance Policies for individuals with diabetes. I can currently list 20 plus companies that will underwrite diabetes. You can still get the insurance very affordable! Is the rate going to be the same as if you didn’t have diabetes? No. Stop and think of what sparked the interest in obtaining life insurance in the first place. Are you going to allow the difference in premium to force you to not consider life insurance? Do you know, not see the importance of protecting your family? The answer to that question is no! It is a matter of a few small things to make sure you get the Life Insurance for much cheaper than you thought.

Diabetes should never be a reason one decides not to buy Life Insurance.

If you choose someone who can represent you and your needs, you will be fine. Find an agent with a vast amount of knowledge of carriers and underwriting guidelines. The task should not be all that complicated. Life Insurance Agents across the United States have the tendency to submit cases. They then hope that it sneaks by, but I can tell you first hand, it doesn’t work like that. Life Insurance Carriers have dedicated departments designed to underwrite these cases. Submitting with no effort and no proper care will not achieve a decent rate and will never work.

If you are an individual with diabetes choose your agent with care. Choose an Agent who is willing to take a little extra time to ensure you will get approved for Life Insurance. You should get the most desired rate for your situation as possible.

Moving into some more of the medical details. Life Insurance takes into consideration all details related to your diabetes. First off, IT DOES NOT MATTER IF YOU HAVE TYPE 1 OR TYPE 2 DIABETES! You can still get Life Insurance! It can still be affordable if you take your time with a Life Agent that knows the ins and outs. You also need an agent experienced at underwriting. Access to all the Life Insurance carriers is icing on the cake.

I secure my Life Insurance clients coverage daily with or without diabetes. I can also usually do so at a price that they have specified is within there budget. My client’s situations differ every time. The first thing a client needs to be aware of is the MIB report. Life Insurance companies all share data through a system known as the MIB. This is a large pool of applicant’s information and prior application attempts. The companies share and provide more updated information on clients every day!

Most Primary Physicians also report certain medical information to the MIB. It’s always imperative to disclose all relevant information to your Agent. If you don’t, guess what? The carrier will still know in the end. An Agent who knows the business can navigate to find the best options for you if you are honest and forward.

Always think “the more information the better”!

You need to allow your Life Insurance Agent to ask for more detail. Asking tough questions can and should happen! You may feel the questions are a bit personal at the time. Remember your agent is trying to secure you most affordable rates.

What determines your rate? Let’s take a look. The rest of this post will also provide detail about your eligibility to get Life Insurance.

To get started, let’s give a brief overview of what diabetes is. Diabetes causes an interruption in your bodies tendencies to turn food into glucose. This is your primary source for energy. Your body should be converting this hormone into sugar under normal circumstances. When you have diabetes, your body does not produce insulin or use it in any manner that is efficient. When this process occurs, your body builds up the extra sugar. The sugar remains in the blood instead of flowing to the cells.

You can then break down diabetes into 3 different types-

Type 1 Diabetes

Type 1 Diabetes is often referred to as insulin-dependent diabetes. It is where the pancreas is no longer producing any insulin. The individual has to take an insulin syringe to help offset or rely on an insulin pump.

Type 1 Diabetes will be treated in the eyes of the Life Insurance Carriers a bit differently. This is because the condition can be more serious or harder to control. It can also be more life-threatening. Choosing an effective Life Insurance Agent in these situations is even more crucial.

Type 2 Diabetes

Type 2 Diabetes is by far the most common situation I see almost daily. Luckily type 2 diabetes can often be underwritten like any other case. It always depends on the individual and I prefer to handle case by case.

Gestational Diabetes

This occurs in pregnant women. Sometimes they never had issues prior related to diabetes. After the pregnancy, the issues tend to resolve itself. Without proper care, it can still hurt your application in the long run.

We have now covered some of the basics for obtaining life insurance with diabetes. Now how do we do so effectively? Life Insurance rates may differ based on where your diabetes currently stands. The biggest thing to remember, life insurance carriers use mortality tables. The mortality tables help to determine rates. It’s no hidden secret that Diabetes could shorten a lifespan. It can also become a more serious mortality risk. This causes the Life Insurance Carrier to consider it much more. This is not a bad thing! It means you need your Life Insurance Agent to do the same for you and handle it with care.

Major Factors that Will Determine your Rating and Price.

A1C Levels

Anyone with diabetes is most likely familiar with there current A1C Levels. Life Insurance Carriers want to know the number reflected from the A1C levels! They also want to know how long it has been stable. A safe number should be 7.0 or below with 90% of Life Insurance Carriers.

Medications-

Whether your diabetic or not, medications matter with Life Insurance. They can and will impact your rates. An Agent should always work on your behalf to find you the best rates available.

Age of Diagnosis

Age of Diagnosis could be one of the biggest factors when it comes to obtaining Life Insurance. The longer you have had the condition, usually the less favorable rates. Additionally, the younger the age of diagnosis, the less favorable the rates will be.

Family History

With or without diabetes family history plays a large factor. If you have not caught on to the trends the same considerations apply for someone with or without diabetes. Everything factors into your Life Insurance Application. What will your final rating and price be?

So again, not to beat a dead horse, you need an Agent who will ask the difficult medical questions. The agent should always make calls on your behalf to carriers. It’s also crucial they have a basket full of carriers they can use and turn to. I personally love to submit a cover letter with the application. I send this to the Life Insurance Carrier explaining the medical history. If you give insight to the individual and the reason for wanting to get coverage, it can go a long way. This extra step can help provide the carrier with a clear picture. It shows what this client’s life is like, and how risk adverse they may be. It will provide an in-depth look at the reason for wanting to get coverage. With Life Insurance, every little bit helps and goes a long way.

Other Considerations-

What we have currently looked at before in the article is the bulk what Life Insurance Carries look at. We also covered how to navigate the life insurance industry while having diabetes. Many more factors go into the final consideration for coverage. The above listed are of utmost importance.. A seasoned Life Insurance Agent will always ask questions in depth.

It should always be easy to spot if your Life Insurance Agent has much experience with these cases. As stated before, a majority of Life Insurance Agents submit applications. After the fact. they cross their fingers and hope for the best. In the Life Insurance Industry, it’s crucial to be methodical and to take things one step at a time.

I have helped countless people who have diabetes. Life Insurance with diabetes can be just as easy as if you didn’t have it. At one time or another, they have had issues obtaining Life Insurance with diabetes. Reason being, the previous agent did not ask the correct questions. This tends to leave the life insurance carrier declining the case. Even worse it can leave the client feeling hopeless about obtaining Life Insurance. I have even had to convince the same clients time after time that they can indeed get Life Insurance with Diabetes. Often times, unfortunately, they are so dead set on the idea that an agent has already told them no once, so why try again?

Well, the reason to try again is simple. Your first Life Insurance Agent likely did not do a diligent job with your case. You definitely have a very strong likelihood of obtaining Life Insurance with Diabetes regardless of previous outcomes. I guarantee the rates will be more affordable than you expect if handled with care.

This article was written by Joshua Martin, President of Martin Insurance and Financial Services Team LLC. Josh has helped hundreds of people get Life Insurance. This includes high-risk clients and clients having diabetes.

I would love to hear any experiences or stories related to your life insurance pursuits.

Updated and Published 3/29/2018

Life Insurance

Josh Martin is an Independent Life Insurance Agent licensed in 47 U.S. state helping hundreds of people in finding Life Insurance for affordable rates with Reputable and strong Life Insurance Carriers.