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life insurance policy for diabetics

life insurance policy for diabetics You can purchase life insurance if you have diabetes. you may have a more limited set of coverage options and a policy will likely cost more since you’re considered higher-risk by insurers. In addition to your other health factors, the type of diabetes you have will significantly impact how life insurance companies evaluate your application, since each type of diabetes affects your health differently.

Life Insurance for Type 1 Diabetics

People with Type 1 diabetes are generally considered higher risk than those with Type 2 diabetes, and therefore may have a more challenging time purchasing life insurance. Life insurers consider Type 1 diabetes to be less manageable, particularly as it often requires insulin in order to be controlled. In addition, life insurance companies consider the age of diagnosis when evaluating risk for a person with diabetes, as a diagnosis later in life means there are fewer years it will impact your body and health. However, Type 1 diabetes is often diagnosed when a person is a child or teen, which would cause you to be viewed as a higher risk when applying for life insurance.

Life Insurance for Type 2 Diabetics

Type 2 diabetes is generally considered lower risk by life insurance companies, particularly if you’re able to manage it with lifestyle adjustments or oral medication and have had no complications. And, since Type 2 diabetes is often diagnosed once you’re an adult, you’ll also more likely to be viewed favorably by insurers, since a later diagnosis is considered lower risk. So long as you’re otherwise healthy and haven’t had complications, having Type 2 diabetes will affect your life insurance rating, increasing how much you pay for coverage, but it shouldn’t prevent you from getting a policy.

Life Insurance with Gestational Diabetes

Gestational diabetes can occur in pregnant women due to hormonal changes in the body and is often a temporary condition that goes away soon after giving birth. However, this isn’t always the case, and it will cause some women to develop Type 2 diabetes. Life insurance companies will therefore rate you as higher risk, meaning you’ll pay higher rates than a woman without gestational diabetes.

If you’re already pregnant and have gestational diabetes, you may want to wait until several months after you’ve given birth before applying for a life insurance policy. The condition may go away after pregnancy, in which case you’ll have an easier time qualifying for life insurance and likely receive lower quotes.

Why is it Hard for Diabetics to Get Life Insurance?

Life insurance is consistently harder to qualify for and more expensive for people with pre-existing health conditions. Life insurance companies rate applicants based upon their expected mortality, which is influenced by both your current medical conditions and likelihood of developing additional critical conditions. Since diabetes is often accompanied by other health issues, such as obesity, and is a risk factor in developing other medical conditions, it can be particularly difficult to find a life insurance policy with good rates as a diabetic.

life insurance policy for diabetics

There are a number of conditions and operations that diabetes increases your likelihood of, including:

  • Stroke
  • Heart disease
  • Hypertension
  • Negative impact to organs, eyes and teeth (due to uncontrolled glucose levels)
  • Kidney disease or failure
  • Neuropathy
  • Surgeries (such as bypass surgery or limb amputation)

Given the severity of these side effects, even diabetic-friendly life insurance companies will consider you a high-risk applicant if you’ve had any complications or your application shows signs that your condition isn’t well-controlled.

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