No medical exam policies for diabetics can tend to be difficult to find with a reasonable price. What is great news is that Phoenix Safe Harbor has partnered with Diabetes Life Solutions to provide diabetics with a real choice for getting a policy without an exam. As with any life insurance policy there are some qualifications.
If you are not a tobacco user and your diabetes is under control then you can get approve for this policy. This is even true if you are on insulin or oral medication to control your diabetes.
You cannot have any other major health conditions. This also includes a history of cancer or circulatory disorder.
This is also a good policy for smokers. If they do not have any other health conditions then they too can qualify for a no exam policy through Phoenix.
Details of the Policies
Phoenix has really come to the table with a strong offering. These no exam policies can be taken out from $50k to $400k in face value and they are available in 10 year to 30 year terms. You cannot find that kind of policy without an exam anywhere else.
To help you get a better understanding of the rats you could receive we ran rates for a 40 year old male who is taking insulin or oral medication, has controlled diabetes, is not a tobacco user and has no other health conditions.
Rates for $100,000 of Term Life Insurance Coverage*
Rates for $250,000 of Term Life Insurance Coverage*
*Rates may vary
The policy has three riders for living benefits:
- Critical Illness
- Chronic Illness
- Terminal Illness
The ability to exercise these riders is based off of a needs assessment. You can accelerate up to 95% of the death benefit.
Critical Illness Rider
This rider gives you the option of accelerating your death benefit if you are diagnosed with a heart attack, stroke, cancer, renal failure, major organ transplant or ALS. This gives people the chance to cover the extra medical costs as well as lost wages if diagnosed with a critical illness
Chronic Illness Rider
This rider protects you from being unable to perform your normal duties due to chronic illness. If you cannot perform two activities of daily living and can get that certified by a doctor you can get approved for this rider.
Terminal Illness Rider
This rider comes into account when you have been diagnosed as terminally ill with less than 12 months to live. The accelerated money can be used for anything. So a person with 10 months to live but still feeling well can use a portion of the death benefit to take a final trip with family or friends. Or it can be used to help with medical and home care expenses.
Where is the Policy Available
Currently the policy is available in every state in the United States except for New York. In other words, this is a widely available policy and will be a huge opportunity for millions of people to get affordable life insurance.
What Does This Mean for Diabetics?
There is no other company on the market that can offer such favorable policies to diabetics. This puts truly affordable life insurance with no physical examination in reach for millions of diabetics across the country.
At Diabetes Life Solutions we specialize in getting diabetics approved for life insurance and we are proud to be working with Phoenix Safe Harbor to provide this wonderful policy. If you or someone you know is diabetic and would like to get quotes for a no medical exam policy use the form on the side of this page or give us a call at 888-629-3064. We will be happy to work with you and answer any questions you may have as we go through the process.