I Have Diabetes - Is Life Insurance an Option for Me?

Life Insurance

You are probably wondering if I have diabetes, can I get life insurance? This is a great question and I hear it often. The good news is you may be able to. Let’s start with the following:

There are three types of diabetes.

Type 1

This is type of diabetes is known as juvenile diabetes as it occurs in younger age groups. With this type of diabetes the body does not produce any insulin. Insulin is needed to treat this type of diabetes. If the diabetes is under control, life insurance is a possibility but  most likely at higher life insurance premiums.

Type 2

This type of diabetes can occur later in life. With this type of diabetes your body produces insulin but does not produce enough insulin. With this type of diabetes, it can sometimes be controlled by medication alone. Sometimes insulin is also needed. If controlled by medications and/or insulin and diet & exercise, you could possibly be approved for life insurance at a better rate than a Type 1 diabetic.

Gestational diabetes

This type of diabetes occurs during pregnancy and the symptoms usually disappears after delivery. Having this type of diabetes when applying for a life insurance policy can affect your life insurance premium. Sometimes the diabetes will develop again when the person gets older. Getting life insurance is also possible with this type.

The factors that insurance companies look at and could affect getting life insurance are:

  1. Your HbA1c reading. This is a test to see what percentages of hemoglobin protein are attached to glucose. Doctors generally suggest a goal of 7% or lower.
  2. If you have any circulation problems. 
  3. Any Diabetic coma or insulin reactions.
  4. If affected by Diabetic nerve disease – numbness/tingling (neuropathy).

About the author: Pam Fortier has been in the life insurance business for over 30 years. She also holds both a LUTCF designation and a CISR designation. Pam is adept at helping clients select the coverage they want at the price they can afford. You can contact Pam at 1-800-651-1953 or PFortier@Pivot.com.