Best Life Insurance Companies For Diabetics in 2023

Your current health and your past medical history will determine whether you are eligible for life insurance. You might think you aren’t eligible for life insurance if you have type 1 or 2 diabetes. People with diabetes who are well-managed can often get life insurance. They will also be able to find a rate that suits their budget.

It is crucial to choose the right provider if you are looking for life insurance as someone with diabetes. Best life insurance companies for diabetics offer low rates, multiple policy options, and living benefits riders. These are our top recommendations for those with type 1 or type 2 diabetes.

Most Frequently Asked Questions

Are Diabetics able to get life insurance?

Although diabetes is a preexisting condition it’s still possible to obtain life insurance for diabetics. It’s generally easier to get coverage for type 2 diabetes.

Type 2 diabetes can often be diagnosed later in life, and is easily managed. Type 1 diabetes, on the other hand, is more difficult to treat. Type 1 diabetics are more likely to be covered than those with type 2.

Many life insurance companies require proof that you have diabetes under your care. It will help you qualify for coverage and can reduce your rate.

Type 2 diabetics can get life insurance. Type 2 diabetics are more likely to be covered than those with type 1. Type 2 diabetics generally have a better chance of getting coverage than type 1.

Studies have also shown that type 1 diabetics have a shorter life expectancy than those with type 2. This can make it harder to get life insurance. 3

Are Diabetics able to get whole-life insurance?

A whole life insurance policy is available to diabetics. However, the type and cost of the coverage will depend on the person’s overall health and how they manage their illness. A whole life insurance policy will cost more for diabetics than it would for healthy individuals.

Are Diabetes and Other Disabilities Possible?

Yes. The Americans with Disabilities Act protects diabetics.

Is life insurance worth it?

Life insurance is not an investment. Life insurance is not an investment. It is there to protect you, your loved ones, and your business partners against financial loss in the case of your death. If you have dependents, life insurance may be worth it. While your estate is being sorted, life insurance can cover your funeral expenses as well as your living expenses for your dependents. You can also get life insurance to pay for care for terminal or chronic illnesses.

Life insurance is not for everyone. You probably don’t need it if you don’t have any financial dependents or debt. The money you would have to pay for life insurance premiums could be better deposited in an emergency fund or put into a retirement account.

How we chose the best life insurance companies for diabetics

Our comprehensive life-insurance methodology was developed by us starting with research on what consumers want from life insurers. We used J.D. Consumer Studies to do that. Power’s 2021 U.S. Life Insurance New Business Study. The 2021 Insurance Barometer Study was done by Life Happens, LIMRA.

We gathered over 50 data points about 91 life insurance companies to help us make these findings. This includes ratings for financial strength, customer satisfaction, and customer complaints as well as information on years in business, cost, and online tools.

We favored companies that had high financial stability, low customer complaints, and a strong product and resource portfolio. We valued online quoting, application tools, transparent pricing, no-exam policy options, and online quoting. Ratings were boosted if customers could access customer service via live chat.

By comparing individual offerings among companies, we delved deeper into product details, such as maximum coverage amounts, maximum issue age, included riders, and available programs. We also compared the application processes for each product. This research was used to identify the best companies for various products and consumer groups, such as life insurance for diabetics.

We compared all the companies to find the best financial stability, the fewest complaints, the lowest cost, and the most generous no-medical exam options.

Updated: December 25, 2022 — 9:50 am

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