Diabetes is a chronic health condition caused by improper regulation of insulin, the hormone that breaks down glucose (sugar) in the bloodstream. Left untreated, it can cause a slew of complications, including cardiovascular disease, nerve damage, kidney damage, and blindness. These complications can shorten the lifespans of people with uncontrolled or poorly controlled diabetes, making them more difficult to insure.
According to statistics compiled by the U.S. Centers for Disease Control and Prevention, more than 38.4 million Americans have diabetes.
Fortunately, while diabetes is a significant health challenge, it’s not necessarily a dealbreaker for life insurance companies. It’s possible to find affordable, reliable life insurance coverage if you have diabetes — and some companies have well-deserved reputations as particularly friendly to diabetics.
Check out our list of the best life insurance for diabetics to ensure you get the policy that protects you the most.
The Best Life Insurance Companies for Diabetics
These are the companies that offer the best life insurance companies for diabetics.
Each does at least one thing really well, and our “best overall” pick provides the best value for the greatest number of policyholders.
1. Best Overall: John Hancock Aspire With Vitality
John Hancock’s Aspire product is one of the few life insurance policies designed specifically for people with diabetics.
It offers a wealth of diabetic-friendly benefits:
- Up to 25% savings off the cost of your insurance
- Virtual consultations with diabetes experts from Onduo, a John Hancock partner
- Free blood glucose meters and testing supplies from Onduo
- Optional personal health coaching from Onduo
- Variable discounts on healthy foods, fitness devices, and even travel
For best results, pair Aspire with John Hancock’s Vitality rider, an optional add-on available to every Aspire client.
The free version, Vitality GO, offers:
- Additional savings on healthy food purchases
- Opportunities to earn prizes from partner retailers, including Amazon
- Discounts on fitness devices and healthy lifestyle gear
- Free fitness webinars and content
Upgrade to Vitality PLUS for $4 per month and get:
- An Apple Watch for as little as $25 plus tax when you meet exercise goals
- Complimentary Fitbit device
- Complimentary one-year Amazon Prime membership
- Complimentary subscription to Headspace, a meditation and mindfulness app
Pros:
- Offers many discounts and benefits to help people with diabetes
- Offers virtual consultants to support you in your journey
- Created specifically for people with diabetes
Cons:
- Must talk to an agent to get a quote
- Not everyone qualifies for Onduo, the virtual diabetes clinic
2. Best for Type 1 Diabetes: Mutual of Omaha
Mutual of Omaha offers two life insurance products for people with diabetes: a whole life insurance guaranteed issue policy for older adults and a term life insurance simplified issue policy for young and middle-aged adults.
Neither requires a medical exam as a condition of underwriting, although the simplified issue policy does consider information about your health history. For this reason, it’s not ideal for Type 1 diabetics, who may be denied coverage due to their preexisting condition — even if their diabetes is well-controlled.
Fortunately, if you have Type 1 diabetes, you don’t have to worry about your guaranteed issue life insurance application being denied. If you’re between 45 and 85 (50 and 75 in New York State), you’ll qualify for up to $25,000 in guaranteed issue coverage regardless of your health status or medical history.
Additional features:
- Fully medically underwritten term life insurance is available, although diabetes may impact eligibility and premiums
- A+ financial strength rating from A.M. Best
- High customer satisfaction ratings from J.D. Power
- All online application process for guaranteed issue coverage
Pros:
- Has two insurance options for people with diabetes
- No medical exam is required
- Guaranteed policies are good up to age 85
Cons:
- Low coverage limits
- Simplified issue isn’t viable for people with Type 1 diabetes
3. Best for Diabetes With Complications: Prudential
Prudential is a strong choice for diabetics who’ve suffered health complications as a result of their condition, such as kidney damage, heart disease, and high blood pressure.
This is partly thanks to Prudential’s BenefitAccess rider, an optional policy add-on (for an extra cost) that allows policyholders to tap death benefits while still alive. Unlike a standard accelerated death benefit rider, BenefitAccess doesn’t require a terminal illness diagnosis — many chronic health issues qualify as well.
Prudential’s underwriting process is also unusually lenient for people with chronic health conditions.
For diabetics, that includes:
- Coverage for both Type 1 and Type 2 diabetics
- No minimum age of diagnosis — a benefit for people with early-onset Type 2 diabetes
- No-exam coverage up to $500,000, although diagnosed diabetes may impact eligibility and premiums
Additional features:
- Choose from multiple permanent life insurance options: variable universal life, indexed universal life, and standard universal life with a cash value component
- Term life insurance policies with terms up to 30 years
- Online claims-filing process
Pros:
- Offers riders to customize coverage
- Offers many options including no medical exam options
- Can file claims online
Cons:
- Premiums may be higher for people with diabetes
- Low customer service ratings
4. Best for Gestational Diabetes: Banner Life
Banner Life is known for competitive rates and unusually long terms — up to 40 years. Less well known is its lenient approach to gestational diabetes, a temporary condition that many life insurance companies treat as semi-permanent.
If you recently developed diabetes during pregnancy, you can qualify for a favorable health rating from Banner Life — up to Standard Plus. That translates to a significant reduction in premiums over someone with a Standard rating, the usual fate for people who’ve recently had gestational diabetes.
Additional features:
- Favorable rates for people with other chronic health conditions
- Get up to $1 million in term coverage
- Term policies are underwritten for applicants as old as 75
- Multiple riders, including accelerated death benefit and child protection — up to $10,000 in death benefits for children up to their 25th birthday with no medical exam required
Pros:
- May qualify with good rating for low premiums even with diabetes
- Offers coverage up to $1 million
- Has terms as long as 40 years
Cons:
- Doesn’t offer many rider options
- Limited permanent life insurance options
5. Best for Older Adults With Diabetes: Protective Life
Protective Life appeals to older adults with diabetes because it offers a strong term-to-permanent conversion option.
If you qualify for term life insurance when you’re young and relatively healthy but develop Type 2 diabetes before your policy expires, you may be able to convert to lifelong coverage without canceling your policy and reapplying. You can do this without a medical exam or proving insurability. That’s good because canceling and reapplying brings the certainty of higher premiums and could result in an outright denial of coverage.
Additional features:
- Guaranteed insurability rider allows you to purchase more coverage without another medical exam
- Favorable rates for diabetics who aren’t insulin-dependent
- Terms range as long as 40 years — good for older diabetics
- Coverage amounts range from $100,000 to $50 million
Pros:
- May convert to a permanent policy without additional underwriting
- Offers guaranteed-issue policies
- Offers terms as long as 40 years
Cons:
- Has limited riders
- Most policies don’t have online quote capabilities
6. Best for Low Premium Coverage Options: Pacific Life
Pacific Life offers some of the best life insurance for diabetics, with low premiums and great coverage options.
If you qualify with a chronic health issue (diabetes may qualify), you can access up to $3 million of your death benefit paid annually or monthly. They also offer a strong conversion option with their PL Promise Products, allowing you to convert all or some of your term life insurance without a medical exam.
Additional features:
- Favorable rates for people with diabetes and other illnesses
- PL Promise has guaranteed renewal until age 90
- No-lapse guarantee as long as you pay the no-lapse guarantee premiums
- Terminal illness benefit of up to 75% of the death benefit (max $500,000)
Pros:
- Large number of policies to choose from
- Many riders are available to enhance your policy
- Has conversion options without a medical exam
Cons:
- Doesn’t offer online quotes
- Many policies have age restrictions
Type of Life Insurance for Diabetics
Fortunately, people with diabetes aren’t restricted to one type of life insurance. Depending on the company, you may have many options, including the following:
- Term: This is usually one of the first policy types people get because it’s the most affordable. The premiums remain low if you get it when you are young and healthy, but you still may qualify with diabetes. Some companies offer conversion options that allow you to convert it to a permanent policy without a medical exam, which can be helpful for people with diabetes. They expire after the specified term, so they are good for short-term needs.
- Whole: This permanent life insurance policy covers you for your entire life. Some companies offer policies for people with diabetes, or you can find companies that offer guaranteed coverage, which means they don’t require a medical exam. These policies have a death benefit for your beneficiaries but also earn cash value on a portion of the premiums paid.
- Universal: This permanent life insurance policy offers options, such as using the cash value proceeds to pay the premiums or adjusting the death benefit. Premiums may be higher if you’ve already been diagnosed with diabetes, but it offers more flexibility than other policies.
Diabetic-Friendly Life Insurance FAQs
You have questions about life insurance for people with diabetes. We have answers.
Can You Get Life Insurance If You Have Diabetes?
Diabetes is a preexisting medical condition that can shorten your lifespan if it’s not properly controlled. Fortunately, it’s not a dealbreaker for life insurance companies. You can still get life insurance if you have diabetes — in some cases, even if it’s not well-controlled.
That said, you’ll need to shop around a bit more than some other folks. Every life insurance company treats people with diabetes differently; some may deny coverage altogether.
How Much Does Life Insurance Cost When You Have Diabetes?
This depends on how great a risk the life insurance company thinks you pose.
Some companies are fairly forgiving. If your diabetes is well-controlled, they might assign you a Standard or even Standard Plus health rating, putting you in a more favorable risk category than the typical tobacco user.
Others see diabetes as a greater risk, particularly if it arises early in life (Type 1 or early-onset Type 2) or isn’t well-controlled. This is why shopping around is important — although, as a rule, you should expect to pay more for life insurance if you have diabetes.
Do All Life Insurance Companies Require a Medical Exam for Diabetics?
If you need a substantial amount of life insurance — over $500,000 or $1 million, depending on the company — you should expect to get a medical exam as a condition of coverage.
Your insurer might not require a medical exam for smaller term life policies. And if you’re applying for a guaranteed issue life insurance policy, you definitely won’t need a medical exam. However, guaranteed issue policies are usually small — no more than $50,000 to $100,000 in coverage, if that.
How Much Life Insurance Can You Get If You Have Diabetes?
There’s no hard coverage amount limit regarding life insurance for diabetics. If you’d prefer not to get a medical exam, you’ll be bound by the upper limit of your chosen insurer’s no-exam coverage option. If underwriters consider your diabetes to be a significant health risk — perhaps because it’s not well-controlled or has already caused health complications — you may find yourself unable to get as much coverage as you’d hoped.
How to Choose the Best Diabetic-Friendly Life Insurance Policy
First, consider your life insurance goals. If you’re a younger person looking for a 20- or 30-year term policy that gets you past your expected student loan and mortgage payoff dates, your menu of choices will be very different than if you’re a retiree seeking a guaranteed issue policy that bears the brunt of your final expenses.
Next, consider what the insurers you’re considering can do for diabetic applicants. Will they waive the medical exam requirement if you apply for a lower death benefit? Do they discount the health risk of well-controlled diabetes, putting you in a more favorable premium range? Do they offer special benefits or features for people with diabetes?
Finally, consider the relative cost and benefit of the policies you’re considering. Just like any other life insurance applicant, you want to pay as little as possible for a reasonable amount of coverage.
Methodology
We considered several important factors as we built this list of the best life insurance for diabetics. Each factor relates to the overall accessibility, cost, and choice of life insurance for people with Type 1, Type 2, and gestational diabetes.
Types of Life Insurance Available
Some life insurance companies specialize in term life coverage. Others specialize in permanent life insurance, such as whole and universal life, and others do both types quite well.
Because diabetics need to work harder to find affordable life insurance that suits their needs, we’re fans of life insurance companies offering a wide range of coverage options. However, we recognize that some companies prefer one type or the other, so we don’t automatically exclude term-only providers.
Risk Rating for People With Diabetes
This is a somewhat technical but very important consideration for diabetics seeking life insurance coverage. Because your insurance risk rating (or health rating) directly influences your life insurance premiums, it’s a key determinant of a policy’s potential cost — and, therefore, whether that policy makes sense for you. Not all insurance companies automatically label people with diabetes ‘high risk.’
Medical Exam Requirement
A life insurance medical exam is inconvenient and stressful under the best of circumstances. If you have a preexisting health condition like diabetes, it can be extremely nerve-wracking. You’d be forgiven for trying to avoid it entirely.
Some diabetes-friendly insurance companies let you do just that. A no-exam policy won’t give you as much coverage as a policy that requires an exam, but your heirs can still anticipate a healthy death benefit, and you can enjoy the peace of mind that comes with life insurance coverage.
Relative Risk of Different Types of Diabetes
What we call diabetes is actually several related but different medical conditions. The big ones are Type 1 diabetes, Type 2 diabetes (diabetes mellitus), and gestational diabetes.
We’re fans of life insurance companies that accommodate all three major types of diabetes and don’t have policies that effectively discriminate against people with one type or another. For example, companies that exclude applicants with early-onset diabetes put people with Type 1 diabetes at a disadvantage, while companies that look back five years when considering diabetes in applicants’ health history adversely impact people who’ve since recovered from gestational diabetes.
Special Features for People With Diabetes
A few life insurance companies offer policies designed specifically for people with diabetes, such as John Hancock’s Aspire. Some also offer special riders or feature packages for people with diabetes, such as John Hancock’s Vitality rider, which you can pair with an Aspire policy.
We’re fans of life insurers that go the extra mile to make people with diabetes feel welcome while helping them live healthier, fuller lives.