Last Updated: Oct 16, 2018 @ 9:26 pm

Life insurance is an excellent safety net that you can purchase to ensure that your loved ones have the money that they need, regardless of what happens to you. When you’re applying for life insurance, there are dozens of different factors that the insurance company is going to look at when reviewing your application.

Diabetes is impacting nearly 31 million people in the United States alone. Not to mention almost 85 million people having pre-diabetes. Having this type of chronic illness makes applying for life insurance, a little tricky.

Whole Life Insurance for Diabetics may be the best option.

People with Diabetes can often feel like their options are very limited and that protecting their family in the event of something unexpected is not an option. Fortunately though, this is not at all the case and whole life insurance for diabetics can definitely be obtained, and much more easily than you might think.

The main thing to remember when applying for whole life insurance with diabetes, is to always work with a trusted life insurance agency who specializes in diabetes life insurance, like us, who can ask you the right questions and help you come up with the right answers (truthfully) to be able to keep your rates down as much as possible. Having Diabetes isn’t a death sentence, but not all life insurance companies will view your health profile the same. Don’t let this worry you, as this is where we come in to help. We communicate to these companies on behalf of the clients, and will make your health profile look as positively as possible.

life insurance for diabeticsWhole life insurance is one of the most common life insurance products out on the market place today. People with diabetes usually can qualify for these type of plans, without too much effort. A whole life insurance policy will offer a permanent life insurance product for the insured, assuming premiums are paid to keep the policy in force.

With whole life insurance, the death benefit is usually a specified amount, defined in the policy contract. Most policies will receive dividend payments. The owner of the policy can choose to have dividend purchase additional life insurance coverage, which in turn increases the death benefit over time. Majority of policies also allow for riders that can waive premiums if you become disabled, or even living benefit riders. These types of riders allow you to access the death benefit, while living if you were diagnosed with a chronic, terminal, or critical illness.

These types of policies also include a cash value account, in addition to the death benefit. This cash value is a savings component that may accumulate interest on a tax-deferred basis. Cash value based policies may be beneficial to you and your family, if seeking a policy that offers more then just a death benefit. Your cash value can be utilized thru a ‘loan’ of the policy, or should you choose to cancel the policy at a future date, the cash value would be paid to the policy owner.

Just like for any other person, applying for whole life insurance for diabetics means you will have to go through an underwriting process. This goes for people who have Type 1 Diabetes as well as Type 2 Diabetes. Certain companies will be more friendly to the Type 1 Diabetes, where others are more favorable to the Type 2 Diabetes Community. This is where we come into play, as we’ll help you navigate the diabetic whole life insurance market place.

When it comes to life insurance, the job of the underwriter is to assess the amount of risk you present to the insurance company by reviewing your health and the severity of your condition. Each whole life insurance company will have specific underwriting guidelines, that will determine your rates, and eligibility.

Obviously, the more severe your condition is, the more risk will be perceived by the insurance company and the more you will end up paying for your whole life insurance. At Diabetes Life Solutions we are dedicated to helping you get the best life insurance for diabetics. We work on the behalf of our clients, and work to secure them the best types of policies, based off their financial objectives.

Whole life insurance is not the cheapest form of life insurance. However, if wanting a permanent life insurance policy, that accumulates cash value, this type of policy may be a good fit for you. Or if not needing a permanent policy, maybe a term life insurance policy for Diabetics is a better fit. What many people with Diabetes don’t realize, is that you will more then likely qualify for the same types of life insurance policies, as person who doesn’t have Diabetes.

No Medical Exam Life Insurance Plans

If you’re a diabetic, one option to get affordable life insurance is to purchase a no medical exam policy, which will give you life insurance without being required to take a medical exam. These types of policies are ideal for people who do not want companies to collect and blood or urine sample, nor review their medical records. If you fall into this category you’d have a wealth of options available to you.

Because you have diabetes, the insurance company may give you higher rates, or even decline your application. Again various companies will have underwriting guidelines in place. Depending on your overall health profile, you may NOT pay higher premiums, compared to a person who doesn’t have diabetes. Here are some sample diabetes questions that non-medical exam companies will ask, on their whole life insurance applications:

– Do you have type 1 or type 2 Diabetes?
– How many units of insulin do you take daily, on average?
– What age were you first diagnosed with Diabetes?
– Do you use any type of Diabetes related technology?
– What are your most recent A1C levels?
– Do you have diabetes related complication?
– What type of medications do you take to control your Diabetes?
– Do you watch what you eat, and have an exercise program?
– Are you seeing an Endocrinologist?
– What is your approximate height and weight?

In addition to asking basic health questions, insurance companies will do a prescription drug background check, and a Medical Information Bureau review. These findings allow them to make a decision.   Good news for people who want an IMMEDIATE decision on their application. When applying for a non-medical exam whole life insurance policy, companies will make a decision in 48-72 hours.

There are several advantages and disadvantages that you should consider before purchasing a no medical exam plan.


The most obvious benefit to these plans is that almost anyone can purchase life insurance coverage, regardless of health or any pre-existing condition that you have. Everyone should be able to get life insurance coverage, and your health shouldn’t stop you. Even people in poor health, with less than ideal control of their Diabetes, can qualify for burial insurance policies. Usually they would qualify from ages 25-85. These whole life insurance policies would approve anyone who has Diabetes, along with any other significant health issues.

Another advantage to these plans is that you can get whole life insurance coverage much quicker than you can with a traditional policy that requires you to take a medical exam. With a normal life insurance plan, you’ll have to wait to schedule the exam, wait for the results, and then wait for the insurance company to review your results. Instead of waiting for approximately 30 days, you can get an approval in a matter of days. Some whole life insurance applications can be approved in a matter of minutes.


One of the disadvantages of these non-medical exam policies is that they may be much more expensive than a traditional plan that requires a medical exam. The purpose of the exam is to give the company an idea of what your health is, but with a no medical exam, they don’t get that picture of your health. When working with an agency like us, we’ll help you determine which possible policy, is the best for your situation.

Because the insurance carriers don’t know your overall health, they are taking a higher risk to give your life insurance, and they may offset that by giving you higher monthly premiums. If you want the most affordable coverage, you’ll generally want to seek out a policy that requires a medical exam plan. This isn’t always the case though, and is an important reason why you’d want to speak with us beforehand.

Another significant pitfall of no medical exam plans is that there is going to be a strict limit on how much life insurance coverage you can buy. Most insurance companies will only allow you to get around $50,000 to $100,000 of life insurance without taking the exam.

Most applicants with Diabetes are going to need more coverage than that, which means that you’ll need to purchase more than one policy or apply for a traditional policy that requires further underwriting. Good news is, if you wanted to, you could take out multiple policies to address your financial concerns.  When working with an agent from Diabetes Life Solutions, they will help you make the best decision for you and your family.

How to Save Money

While we can help you to answer the questions in the correct way, we can’t help your overall health profile. What we can recommend is that you follow everything your doctor has suggested for your particular condition.  Also, if you see an Endocrinologist, majority of life insurance companies will view you as a more favorable risk, compared to a person who does not.

People who are applying for a policy that requires a blood and urine test, should make sure their diabetes is under optimal control If you go into your physical and your blood sugar levels are all over the place, you can be pretty confident in the fact that you will end up paying an unnecessarily high price for your whole life insurance policy. Or if your medical records aren’t ideal, companies can decline you all together.  Life insurance companies want to be sure that your diabetes is under control, and that you are compliant with your Doctor’s orders.

The first thing that you should do is improve your overall health. There are several ways that you can do that, like starting a diet and getting regular exercise. Both of these are going to help you manage your diabetes, lower your cholesterol, shed extra weight, lower your blood pressure, and much more. All of these are going to translate into lower monthly premiums on your diabetes whole life insurance policy.

The next thing that you should do is eliminate any tobacco that you currently use. Smokers or chewing tobacco users are going to pay much more for their life insurance coverage versus what a non-smoker is going to pay. In fact, smokers pay almost twice as much for the same amount of life insurance protection. If you want to get the most affordable plan available, you’ll need to kick those bad habits once and for all. Also, if you do take out a policy as a tobacco user, and refrain from tobacco use for 12 months, you can always reapply and receive a better priced policy, as a non-tobacco user.

If your diabetes condition is worsening, or you feel you don’t have a good chance of receiving a clean bill of health from the doctor – and ultimately a lower rate on your insurance, you might consider going for another type of insurance altogether.

There are types of insurance such as Guaranteed Issue Life Insurance which can be expensive for people who are in average to above average health, but a great option for people who are in poor health and are anticipating that having to cash out on their insurance policy in the near future is a very realistic situation. Whole life insurance policies like these should be a last resort. When working with out agents, they will review your health profile, and let you know what whole life insurance plans, you will qualify for.

Calculating Your Life Insurance Needs

Before you apply for any coverage, it’s vital that you get enough life insurance protection for your loved ones. When you’re determining what your insurance needs are, there are several factors that you should consider. Our agents are more then happy to assist, and to have a brief conversation with you to help determine the proper amount of life insurance.

The first number to crunch is your debts and final expenses that you would leave behind to your family members. If something tragic were to happen to you, your loved ones could be left with a massive amount of debt, which can make an already difficult situation a thousand times worse. Many individuals may need $10,000 to $20,000 to cover various final expenses and funeral expenses.

The main goal of your life insurance is to give your family the money that they need to pay off those bills and unpaid costs. IN addition to burial expenses, there may be other type of debt. Cell phone bills, utility bills, credit card debt, or medical expense. Whole life insurance policies are designed to cover your entire life, and would pay a death benefit to your beneficiaries, to cover expenses like this.

The next number to look at is your salary. The secondary goal of your life insurance is to replace your paycheck if something tragic were to happen to you. If you’re one of the main providers in your house, your loved ones would suffer financially if you were to pass away. According to Dave Ramsey, you should have 10 times your salary in life insurance. While not everybody needs this amount of insurance, it does give you a starting point, to begin thinking about how much you need.

Your life insurance policy will give them the money that they need to pay for basic expenses without having to sacrifice their standard of living. By replacing your income your family can continue to live in their house, maintain current lifestyle, or provide enough money to put children thru college. Whole life insurance policies pay out a tax free death benefit, and your beneficiaries will have complete control, of how to use these funds.

The most important thing to remember though, is that just because you have Diabetes, whole life insurance is definitely not out of reach for you. There is no reason that your family should have to go through life worrying about what will happen to them if something were to happen to you.

Stop thinking that you are unable to be insured and contact a trusted diabetes life insurance representative who can help to walk you through the process of getting yourself a policy you can actually afford.

We know that finding the perfect life insurance plan can be a long and difficult process, especially as a diabetic. Our agents can help you find the best plan to meet your needs at an affordable rate. Our goal is to make this process as simple as possible.

You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. There’s never a better time to start having discussions, about your need for coverage.

Not having life insurance is one of the worst mistakes that you can make for your loved ones. If something tragic were to happen to you, you would leave you family with a massive mountain of debt and it will make an already difficult situation a thousand times worse.

Contact one of our agents today at 888-629-3064 and we can get the process started. The initial phone call takes 5 minutes or less. We love working with the diabetes community, as we are apart of the diabetes community.