Getting life insurance coverage with a diabetic or any other medical condition is hard to find but not impossible. A medical condition like diabetes does not directly disqualify you from gaining the benefits of insurance coverage. The payments will be more than people without preexisting medical conditions. The payments will depend on the insurance policy type and diabetes type along with other factors. 

Melissa Thompson with Diabetes 365 mentions “many people think that a condition such as diabetes will eliminate them from life insurance coverage.  That simply is not true.  In fact, life insurance for diabetes rates are at all-time lows, and there are countless life insurance providers to choose from.”

How does diabetes type impacts life insurance coverage cost?

The insurance premiums are based on your expected longevity. However, an existing medical condition reduces life expectancy therefore life insurance for diabetics is expensive. Even if your blood sugar is controlled well, the disease has the potential to trigger other risky issues. If it is left controlled then this can cause serious health problems, which is fatal.

  • Hypertension
  • Heart problems
  • Stroke
  • Obesity
  • Neuropathy
  • Kidney failure
  • Issues with teeth, eyes, and other organs
  • Limb amputation

Every diabetic patient is not evaluated in the same way. The insurance provider rates the applicant’s risk based on genetics, medical history, age, lifestyle, and current health. The insurance provider determines if the diabetes is controlled well or not and how it can impact health down the road. 

You will have to undergo a medical underwriting procedure, where questions regarding your diabetes will be asked. It helps the insurance provider the risk level. Your medical records are also essential to verify your health history. A physical exam may be required including a microalbumin test to identify kidney damage signs. There are insurance policies without medical checkups but they are extremely costly.

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There is two kind of diabetes and each one impacts the insurance rates differently. 

  • Type I diabetes [Insulin resistant diabetes] – It is hard to control as it has badly affected your entire body and health. Children and teens are often diagnosed with type I making it high risk, so connected with higher premium rates.
  • Type II diabetes – It is diagnosed in the late 40s, so the effect on your body is less. You are aware and have taken steps to control the sugar levels with exercise and diet. You can qualify for the most affordable rates but due to complications if you are insulin-dependent then the insurance policy options are limited and premiums higher because of high risk. 
  • Gestational diabetes – It is a temporary condition triggered because of hormonal fluctuations during pregnancy. Wait until childbirth before applying because there is a strong possibility that diabetes will vanish. You can buy a less costly life insurance policy.  Life insurance for gestational diabetes will normally be less expensive compared to those with type 1 or type 2 diabetes.

Insurance policy types for diabetics

  • Term life insurance is the least expensive because large death benefits are offered. Nevertheless, the term policy offers coverage for a limited time and has no cash value. People who had purchased a term policy before diabetes can switch to permanent life insurance before the term expires without the need for medical underwriting.
  • A whole or universal life insurance policy builds cash value, which can be used for expenses in the future. The sooner you buy this policy the better because as you grow elderly the premiums also rise and diabetic conditions can increase the cost further. 
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Discuss your diabetic condition with the insurance provider. Discuss the steps you take to manage your sugar levels, so the insurance provider considers it! There are several online resources out there such as to assist the diabetes community.

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