Best Life Insurance Policies When You Have Diabetes in 2024 (Top 10 Companies)

Mutual of Omaha, AIG, and Transamerica stand out as top companies offering the best life insurance policies when you have diabetes. In this guide, we explore the top companies, analyzing policies, rates, and offerings when you have diabetes.

Living with diabetes can present unique challenges, and one of them is finding the best life insurance policy to meet your needs. Diabetes is a chronic health condition that affects the body’s ability to regulate blood sugar levels.

Our Top 10 Best Companies: Best Life Insurance Policies When You Have Diabetes

Insurers typically consider diabetes as a high-risk condition when determining insurance coverage and premiums. However, there are still options available for individuals with diabetes to secure life insurance coverage.

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#1 – Mutual of Omaha: Customizable Policies

Pros

• Up to 10% diabetes-focused benefits: Mutual of Omaha offers substantial benefits tailored for individuals with diabetes, providing financial advantages.
• Up to 5% additional features: The company offers additional features that enhance policy coverage, providing more comprehensive options.
• Customizable policies: Mutual of Omaha stands out for its flexibility, allowing customers to customize policies based on individual needs.

Cons

• Limited vanishing deductible: Compared to some competitors, Mutual of Omaha offers a lower percentage for vanishing deductible, limiting potential savings.
• Moderate online convenience: While offering online services, the level of online convenience might be perceived as moderate compared to competitors with more advanced digital platforms.

Read more: Mutual of Omaha Insurance Company Review

#2 – AIG: Comprehensive Coverage

Pros

• Up to 12% diabetes-focused benefits: AIG leads with impressive benefits for individuals with diabetes, providing substantial financial advantages.
• Up to 6% additional features: AIG stands out in offering additional features, providing customers with more options for enhancing their coverage.
• Comprehensive coverage: Known for comprehensive coverage, AIG ensures that policyholders receive extensive protection for various scenarios.

Cons

• Higher premiums: AIG’s generous benefits and comprehensive coverage may come at a cost, with potential premiums higher than some competitors.
• Limited local agents: While AIG provides comprehensive online services, individuals preferring local agents might find limited availability.

Read more: AIG Assurance Company Review

#3 – Transamerica: Local Agents

Pros

• Up to 11% diabetes-focused benefits: Transamerica offers attractive benefits for those with diabetes, contributing to potential cost savings.
• Up to 4% additional features: The company provides additional features, enhancing policy options for a more comprehensive coverage.
• Local agents: With a focus on local agents, Transamerica ensures personalized assistance and guidance for customers.

Cons

• Limited online convenience: Transamerica’s emphasis on local agents might result in slightly limited online conveniences compared to companies with more advanced digital platforms.
• Moderate vanishing deductible: While offering vanishing deductible benefits, Transamerica’s percentage is moderate compared to some competitors, impacting potential savings.

Read more: Transamerica Life Insurance Company Review

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#4 – Prudential: Diverse Policy Options

Pros

• Up to 10% diabetes-focused benefits: Prudential offers attractive benefits for individuals with diabetes, potentially leading to significant cost savings.
• Up to 5% additional features: The company provides additional features, enhancing policy options and coverage flexibility.
• Diverse policy options: Prudential stands out for offering a wide range of policy options, allowing customers to choose plans that best suit their needs.

Cons

• Limited online convenience: While Prudential provides online services, the level of online convenience might be perceived as limited compared to competitors with more advanced digital platforms.
• Moderate safe-driving discounts: Prudential’s safe-driving discounts, while offered, may be perceived as moderate compared to some competitors.

Read more: The Prudential Insurance Company of America Review

#5 – MassMutual: Strong Online Convenience

Pros

• Up to 9% diabetes-focused benefits: MassMutual provides competitive benefits for individuals with diabetes, contributing to potential cost savings.
• Up to 4% additional features: The company offers additional features, enhancing policy options and providing a more comprehensive coverage.
• Strong online convenience: MassMutual excels in online services, providing customers with a seamless and convenient digital experience.

Cons

• Slightly limited additional features: While offering additional features, MassMutual’s range might be perceived as slightly limited compared to some competitors.
• Moderate vanishing deductible: MassMutual’s vanishing deductible benefits, while available, may be considered moderate in comparison to some competitors.

#6 – State Farm: 24/7 Support

Pros

• Up to 10% diabetes-focused benefits: State Farm provides attractive benefits for individuals with diabetes, potentially leading to significant cost savings.
• Up to 5% additional features: The company offers additional features, enhancing policy options and coverage flexibility.
• 24/7 support: State Farm ensures customer support availability round the clock, providing assistance whenever needed.

Cons

• Limited bundle discounts: State Farm’s bundle discounts may be perceived as limited compared to some competitors.
• Moderate vanishing deductible: While offering vanishing deductible benefits, State Farm’s percentage is moderate compared to some competitors, impacting potential savings.

Read more: State Farm Life Insurance Review

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#7 – Foresters Financial: Vanishing Deductible

Pros

• Up to 8% diabetes-focused benefits: Foresters Financial provides substantial benefits for individuals with diabetes, contributing to potential cost savings.
• Up to 3% additional features: The company offers additional features, providing customers with more options for enhancing their coverage.
• Vanishing deductible: Foresters Financial stands out for its vanishing deductible benefits, potentially leading to reduced costs over time.

Cons

• Limited multi-policy discounts: Foresters Financial’s multi-policy discounts may be perceived as limited compared to some competitors.
• Slightly limited additional features: While offering additional features, Foresters Financial’s range might be perceived as slightly limited compared to some competitors.

#8 – Lincoln Financial Group: Safe-Driving Discounts

Pros

• Up to 9% diabetes-focused benefits: Lincoln Financial Group provides competitive benefits for individuals with diabetes, potentially leading to significant cost savings.
• Up to 4% additional features: The company offers additional features, enhancing policy options and providing a more comprehensive coverage.
• Safe-driving discounts: Lincoln Financial Group emphasizes safe-driving discounts, encouraging and rewarding policyholders for responsible driving.

Cons

• Moderate bundle discounts: Lincoln Financial Group’s bundle discounts may be perceived as moderate compared to some competitors.
• Limited online convenience: While providing online services, Lincoln Financial Group’s level of online convenience might be perceived as limited compared to competitors with more advanced digital platforms.

Read more: Lincoln Benefit Life Company Review

#9 – Guardian Life: Multi-Policy Discounts

Pros

• Up to 10% diabetes-focused benefits: Guardian Life offers substantial benefits for individuals with diabetes, potentially leading to significant cost savings.
• Up to 5% additional features: The company provides additional features, enhancing policy options and coverage flexibility.
• Multi-policy discounts: Guardian Life stands out for its multi-policy discounts, encouraging customers to bundle their insurance needs for cost advantages.

Cons

• Slightly limited safe-driving discounts: Guardian Life’s safe-driving discounts, while available, may be perceived as slightly limited compared to some competitors.
• Moderate online convenience: While Guardian Life provides online services, the level of online convenience might be perceived as moderate compared to competitors with more advanced digital platforms.

Read more: Guardian Life Insurance Company of America Review

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#10 – Globe Life: Bundle Discounts

Pros

• Up to 7% diabetes-focused benefits: Globe Life provides competitive benefits for individuals with diabetes, contributing to potential cost savings.
• Up to 3% additional features: The company offers additional features, providing customers with more options for enhancing their coverage.
• Bundle discounts: Globe Life emphasizes bundle discounts, encouraging customers to combine different policies for potential cost advantages.

Cons

• Limited safe-driving discounts: Globe Life’s safe-driving discounts may be perceived as limited compared to some competitors.
• Slightly limited additional features: While offering additional features, Globe Life’s range might be perceived as slightly limited compared to some competitors.

Read more: Globe Life and Accident Insurance Company Review 

Understanding Diabetes and Life Insurance

Living with diabetes poses unique challenges, and securing life insurance can be one of them. Navigating the landscape of life insurance companies requires careful consideration of coverage rates, options, discounts, and customer reviews. In your quest for tailored coverage, it’s crucial to explore reputable providers who understand the intricacies of life insurance for individuals with diabetes.

Average Monthly Life Insurance Rates for Diabetic

The Impact of Diabetes on Life Insurance

Diabetes is considered a high-risk condition by insurance companies because of its potential for complications such as heart disease, stroke, kidney problems, and vision disorders. These complications increase the risk of premature death, making it challenging for individuals with diabetes to secure traditional life insurance policies.

Insurers take into account the severity of the diabetes and the presence of any complications when assessing the risk associated with an individual’s health. They may request additional medical examinations or reports to evaluate the overall health status of the applicant. Factors such as smoking, obesity, and family history of diabetes also play a role in determining the risk level and insurability of an individual.

Why Insurers Consider Diabetes a High-Risk Condition

The primary reason insurers consider diabetes a high-risk condition is the risk of complications. Poorly controlled diabetes can lead to long-term damage to blood vessels and organs, increasing the likelihood of premature death. Insurers assess the level of risk by looking at medical reports, including hemoglobin A1C levels, medications, and any history of hospitalizations or diabetic emergencies.

Insurers understand that managing diabetes requires ongoing medical care, regular check-ups, and potential adjustments to treatment plans. They consider the potential costs associated with these medical needs when assessing the risk and determining the premiums for life insurance policies. Additionally, insurers may require individuals with diabetes to undergo periodic medical examinations to ensure that their condition is being properly managed.

It’s important for individuals with diabetes to be proactive in managing their condition and maintaining a healthy lifestyle. By effectively managing their diabetes, individuals can reduce the risk of complications and improve their chances of obtaining life insurance coverage. This may involve working closely with healthcare professionals, following recommended treatment plans, and making necessary lifestyle changes.

Types of Life Insurance Policies for Diabetic Individuals

While traditional life insurance policies may be challenging to obtain for individuals with diabetes, there are alternative options available that cater specifically to this population. Here are some types of life insurance policies that offer coverage to individuals with diabetes:

Term Life Insurance

Term life insurance provides coverage for a specific period, usually 10, 20, or 30 years. It offers a death benefit to the beneficiary if the insured passes away during the policy term. Term life insurance policies may require medical underwriting, including a review of the applicant’s health history, diagnostic tests, and lifestyle factors.

For individuals with diabetes, term life insurance policies can be a viable option. The underwriting process takes into account various factors related to diabetes management, such as the individual’s A1C levels, treatment regimen, and overall health. Insurance companies may also consider the individual’s adherence to a healthy lifestyle, including exercise and diet, when determining the premium rates.

It’s important for individuals with diabetes to provide accurate and detailed information about their condition during the application process. This will help insurance companies assess the risk accurately and offer appropriate coverage options.

Whole Life Insurance

Whole life insurance is a permanent policy that provides coverage for the entire life of the insured. It offers a death benefit to the beneficiary and builds cash value over time. Some whole life insurance policies may require medical underwriting, while others can be obtained without a medical exam but with higher premiums.

For individuals with diabetes, whole life insurance policies can provide long-term financial protection. These policies often have a cash value component, which can be beneficial for individuals looking to build savings or have access to funds in case of emergencies. The cash value can be used to pay premiums or taken out as a loan, providing flexibility and financial stability.

Insurance companies offering whole life insurance to individuals with diabetes may consider factors such as the individual’s age, diabetes management, and overall health. The premium rates may be higher compared to term life insurance due to the permanent coverage and cash value accumulation.

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is specifically designed for individuals with pre-existing conditions, including diabetes. It does not require a medical exam or health questions. These policies are typically more expensive and offer lower death benefits compared to other types of life insurance policies. However, they provide a guaranteed acceptance option for those who may have trouble securing coverage elsewhere. (For more information, read our “Top Guaranteed Issue Life Insurance Provider“).

For individuals with diabetes who have been declined coverage or face challenges in obtaining traditional life insurance, guaranteed issue life insurance can be a valuable option. These policies offer a guaranteed acceptance, regardless of the individual’s health condition. The absence of medical exams and health questions simplifies the application process and ensures coverage for individuals who might otherwise be denied.

It’s important to note that guaranteed issue life insurance policies often have a waiting period before the full death benefit is available. This waiting period can range from one to two years, during which the policy may only pay out the premiums paid plus interest in case of the insured’s death. However, after the waiting period, the full death benefit becomes payable. (For more information, read our “What is the life insurance waiting period?“).

While guaranteed issue life insurance may have limitations in terms of coverage and cost, it can provide peace of mind for individuals with diabetes who are unable to secure coverage through other means. It ensures that their loved ones will receive a death benefit, even if it is reduced compared to other policies.

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Top Life Insurance Companies for People with Diabetes

When considering life insurance companies for individuals with diabetes, it’s crucial to look for insurers who specialize in offering coverage to high-risk applicants. While the availability and terms of policies may vary, here are three well-known insurance companies that have experience serving people with diabetes:

Company 1 Review

Company 1 specializes in providing life insurance coverage for individuals with diabetes. They understand the unique needs and risks associated with managing diabetes and offer tailored policies to meet those needs.

With a team of experts who have extensive knowledge and experience in dealing with diabetes-related life insurance, Company 1 ensures that individuals with diabetes can find the coverage they need. They take into account various factors such as the type of diabetes, the duration of the condition, and the individual’s overall health to determine the best policy options.

Moreover, Company 1 goes beyond just providing coverage. They offer resources and support to help individuals manage their diabetes effectively. This includes access to educational materials, online tools, and even personalized guidance from diabetes specialists.

Company 2 Review

Company 2 has a reputation for providing affordable life insurance options for individuals with diabetes. They work with applicants to find the best policy based on their specific circumstances, ensuring affordable coverage options.

Understanding that managing diabetes can come with additional expenses, Company 2 strives to offer policies that fit within individuals’ budgets. They have a range of coverage options with varying premium rates, allowing individuals to choose a policy that suits their financial situation best.

In addition to affordability, Company 2 also focuses on providing comprehensive coverage. They understand that people with diabetes may have other health conditions or complications, and they take these factors into account when assessing an applicant’s eligibility. This ensures that individuals with diabetes can get the coverage they need without compromising on their health needs.

Company 3 Review

Company 3 has a long history of providing life insurance to individuals with diabetes. They offer flexible underwriting guidelines and take a holistic approach to assess applicants’ risks, including factors beyond the traditional medical evaluation.

Recognizing that each individual’s diabetes journey is unique, Company 3 takes a personalized approach to underwriting. They consider not only the medical aspects of diabetes but also lifestyle factors, such as exercise routines, diet, and overall well-being. This holistic evaluation allows them to provide a more accurate assessment of an individual’s risk, resulting in fairer and more tailored coverage options.

Furthermore, Company 3 understands that managing diabetes requires ongoing care and support. They offer additional benefits such as access to wellness programs, discounts on medication and supplies, and even virtual consultations with diabetes educators. This commitment to supporting individuals with diabetes sets Company 3 apart from other insurers.

When it comes to choosing a life insurance company for individuals with diabetes, it’s important to consider more than just the coverage itself. These three companies not only provide specialized policies but also offer additional resources, support, and personalized approaches to ensure that individuals with diabetes can protect their future and manage their condition effectively.

How to Improve Your Chances of Getting Approved

While securing life insurance with diabetes may require additional effort, there are steps you can take to improve your chances of getting approved:

Managing Your Diabetes Effectively

One of the most crucial factors in securing life insurance for individuals with diabetes is effective management of the condition. Insurers often look for consistent adherence to a treatment plan, regular monitoring of blood sugar levels, and medication compliance. Keeping your diabetes under control can demonstrate that you are actively managing your health and reducing the risk of complications.

Managing diabetes effectively involves more than just taking medication. It requires a comprehensive approach that includes lifestyle modifications, such as adopting a healthy diet and engaging in regular physical activity. By working closely with your healthcare team, you can develop a personalized plan that addresses your specific needs and helps you achieve optimal diabetes management.

Additionally, staying informed about the latest advancements in diabetes management can also contribute to your overall success in controlling the condition. New technologies, such as continuous glucose monitoring systems and insulin pumps, can provide valuable insights and help you make more informed decisions about your health.

Maintaining a Healthy Lifestyle

Adopting a healthy lifestyle by engaging in regular exercise, maintaining a balanced diet, and managing your weight can positively impact your overall health and help control diabetes. Insurers often consider lifestyle factors when assessing risks, so focusing on healthy habits can improve your chances of securing life insurance coverage.

Regular physical activity not only helps control blood sugar levels but also improves cardiovascular health and reduces the risk of complications associated with diabetes. Engaging in activities such as walking, cycling, or swimming can be beneficial for both your physical and mental well-being.

In terms of nutrition, a balanced diet that includes a variety of fruits, vegetables, whole grains, lean proteins, and healthy fats is essential for managing diabetes. Working with a registered dietitian can help you create a meal plan that meets your nutritional needs while keeping your blood sugar levels stable.

Furthermore, maintaining a healthy weight is crucial for individuals with diabetes. Excess weight can make it more challenging to control blood sugar levels and increase the risk of developing complications. By adopting healthy eating habits and engaging in regular physical activity, you can achieve and maintain a healthy weight, which can positively impact your overall health and increase your chances of securing life insurance coverage.

Regular Check-ups and Medical Reports

Staying up-to-date with regular check-ups, including diabetes-related tests and examinations, is vital. Insurers rely on the most recent medical information when evaluating applicants with diabetes. Regular medical reports can provide insight into how well your diabetes is managed, any improvements in your health, and potential risk reductions.

During check-ups, your healthcare provider may perform various tests to assess your diabetes management, such as measuring your HbA1c levels, checking your blood pressure, and evaluating your cholesterol levels. These tests provide objective data that insurers consider when assessing your risk profile.

In addition to regular check-ups, it is essential to maintain open communication with your healthcare team. Keeping them informed about any changes in your health or treatment plan can ensure that your medical reports accurately reflect your current condition and management efforts.

Moreover, participating in diabetes education programs or support groups can also be beneficial. These resources can provide you with additional knowledge and tools to effectively manage your diabetes, which can translate into improved medical reports and increased chances of securing life insurance coverage.

In conclusion, individuals with diabetes have options when it comes to securing life insurance coverage. Understanding the impact of diabetes on insurance, exploring different policy types, and choosing insurance providers experienced in serving individuals with diabetes is crucial. By actively managing diabetes, maintaining a healthy lifestyle, and staying up-to-date with medical check-ups, you can improve your chances of obtaining the best life insurance policy tailored to your needs.

Navigating Life Insurance With Diabetes: Real Stories of Tailored Coverage

Case Study 1: Sarah’s Tailored Coverage With Mutual of Omaha

Sarah, a 35-year-old professional living with diabetes, faced the challenge of finding life insurance that aligns with her health needs. Turning to Mutual of Omaha, she discovered a provider specializing in customizable policies. After careful assessment of her health profile, Mutual of Omaha offered Sarah a policy with a $200 premium for a $100 coverage.

This tailored approach allowed Sarah to secure comprehensive coverage that suits her unique circumstances, giving her peace of mind for the future.

Case Study 2: James’ Comprehensive Protection With AIG

James, a 45-year-old individual managing diabetes, sought comprehensive coverage that addresses both his health condition and future financial security. AIG, known for its commitment to providing extensive coverage, offered James a policy with a $180 premium for a $90 coverage.

The competitive rates and comprehensive benefits provided by AIG gave James the assurance he needed, demonstrating that individuals with diabetes can access robust life insurance options tailored to their specific needs.

Case Study 3: Emily’s Local Support With Transamerica

When Emily, a 40-year-old professional with diabetes, prioritized having local support and personalized assistance in her life insurance journey, she turned to Transamerica.

With a focus on local agents, Transamerica provided Emily with not only a policy featuring a $210 premium for a $126 coverage but also the comfort of dealing with agents who understood the nuances of her health condition.

This case highlights how a personalized approach can make a significant difference in the life insurance experience for individuals with diabetes.

Case Study 4: John’s Diverse Options With Prudential

John, a 50-year-old with diabetes, was seeking diverse policy options that would cater to his evolving needs. Prudential, known for its range of policy choices, presented John with a solution that offered flexibility and coverage. With a $255 premium for a $133 coverage, John found a policy that addressed his specific health considerations.

This case emphasizes the importance of exploring insurers with diverse offerings to find a policy that best suits an individual’s circumstances.

Case Study 5: Maria’s Online Convenience With MassMutual

For Maria, a 38-year-old managing diabetes, the convenience of online interactions and a strong digital presence was a priority.

MassMutual, recognized for its online services, offered Maria a policy that combined strong coverage with the convenience of managing her policy online. With a premium of $215 for a $108 coverage, Maria experienced the benefits of a seamless digital insurance experience that accommodated her lifestyle and health needs.

This case highlights the significance of considering insurers that prioritize digital accessibility for individuals with diabetes

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