Can I get life insurance if I am diabetic?
Concerned you can't get life insurance because you have diabetes or are overweight? You may not have to be worried about whether or not you can help protect your family.
These medical conditions don't have to prevent you from finding effective coverage. Life insurance for diabetics does exist. Though health may be a factor in some policy details, the bottom line is you could get life insurance even if you've been diagnosed with diabetes.
Why could diabetes affect life insurance?
People with chronic illnesses, like diabetes, are often concerned that their disease will stop them from getting life insurance. Why? Because these health issues can increase risk for the provider. And while that's true, it doesn’t mean getting life insurance is impossible.
Per the CDC, an estimated 129 million Americans have at least 1 major chronic disease, and 42% of Americans have two chronic diseases or more1. If chronic illness = disqualification, then many people would be without life insurance. Luckily, that’s not the case. CDC statistics show that about 38 million American adults have diabetes2. That’s about 10% percent of the population2. Yet many of these people are able to find life insurance.
Life insurance for people with diabetes
If you've been turned down before because of Type 1, Type 2 or gestational diabetes, don’t be discouraged. In many cases, finding coverage comes down to working with the right life insurance companies for diabetics.
Even if your diabetes is under control, some providers may have strict standards that you don’t meet. Others have better options that may be just what you’re looking for.
Are medical exams always required?
When doing your research, consider looking for companies that require minimal health information. You may assume medical exams are required by every provider. Not true.
You could get life insurance without having to take test after test after test. Exam results and insurance approval doesn’t have to be tied together.
Some providers may only ask that you complete a small set of health-related questions. Even if you have diabetes or are overweight, a few questions may be all you have to answer to help protect your family.
Consider guaranteed acceptance whole life
Another thing to think about is TruStage™ Guaranteed Acceptance Whole Life. You cannot be turned down for such a policy because of health-related reasons. That's right: There's exactly zero worry about whether you can or cannot get coverage as a diabetic.
There are no medical exams or health questions required. Even though you might have a chronic illness, your rate will never go up. And, your coverage will never go down. Having a life insurance policy may put them in a stronger position to pay potential costs like medical bills and funeral expenses when you pass. There's no expiration date for guaranteed acceptance whole life, so your coverage is active for as long as you pay your premiums.
