Getting a life insurance policy can be complicated, but the situation becomes even more difficult if you have a serious precondition such as diabetes (type 1 or type 2). There are 3 different categories of Life Insurance that applicants can choose from: traditional, simplified or guaranteed issue.
Various life insurance policies are available for applicants with diabetes but they may vary depending on your condition. There are also differences in insuring different types of diabetes: Type 2 diabetes is easier to insure than type 1, but the overall decision will depend on such factors as age of the applicant, blood sugar levels, treatment being in place, etc. If you are interested in getting a free quote for Life Insurance with Diabetes, please, click on the button below or complete a form below.
If you are interested in understanding better various life insurance types such as traditional life insurance (also called standard life insurance), simplified issue life insurance and guaranteed issue life insurance and want to know what types of life insurance are available for you, have a look at our infographic further below. It will also inform you what life insurance types are available for other serious preconditions.
Diabetes as a precondition: Key question asked by insurance companies
Most insurance companies that provide life insurance for people with diabetes will be interested in the following question: “Do you have an advanced stage of diabetes or you are insulin-dependent?” That will determine the type of an insurance policy that you can apply for.
No, your diabetes stage is not advanced
If you do not have an advanced stage of diabetes and you are not insulin dependent, you can often qualify for traditional life insurance. It means that your maximum coverage limit can vary between $3,000,000 and $5,000,000.
Yes, you have an advanced diabetes stage
If you have an advanced diabetes stage or you are insulin-dependent, you can almost always qualify only for simplified issue life insurance. It means that your maximum coverage limit can typically be between $50,000 and $300,000. You can also always apply for guaranteed issue life insurance, but that insurance policy comes with significantly lower coverage (up to $25,000) and does not required any medical test or answering medical questions. It makes sense to consider this policy only in the worst cases when all other policies are not available to you.
Interested in life insurance with diabetes?
There are insurance companies who can insure applicants with diabetes (both type 1 and 2). It is important to work either with these companies or with an insurance broker who specializes in such cases.
Contacting an experienced, licensed broker (see a form below) will help you to find a life insurance for diabetes that fits you needs or simply answer all your questions related to this topic. Discussion with broker is entirely free and there is absolutely no obligations to buy.
Key insurance types and serious preconditions
An overview below provides a brief overview of various life insurance types including life insurance and diabetes. It also explains what insurance types are available to you, if you have a serious precondition. Any other question left? Please feel free to connect with an insurance professional to discuss your situation in details.
Click on the link if you are interested in downloading this infographic Life Insurance and Diabetes as PDF.