Guest post: Are people with diabetes eligible for life insurance?

By: Ben Hargrove

A diagnosis of diabetes does not necessarily preclude you from being able to get life insurance, as long as it is type 2 diabetes and you are working to keep it under control.

Type 1 vs. type 2 diabetes

If you have type 1 diabetes, it will be much harder to get life insurance. Someone with type 1 diabetes is unable to produce insulin, which means they typically will need to inject or pump insulin. Type 1 diabetes typically begins in childhood, which means patients generally have it for much longer. The longer you have diabetes, the greater the possibility of more serious health consequences. 

If you have type 2 diabetes, you may have a better chance of getting life insurance than if you have type 1. Someone with type 2 diabetes has high levels of blood glucose resulting from insulin resistance.  There are a variety of potential treatments, including medication, insulin therapy, diet and exercise. Type 2 diabetes was once called adult-onset diabetes because people typically got the disease as adults, but these days, younger people are also being diagnosed with the disease.

How long you have had diabetes is important

When you were diagnosed with type 2 diabetes can play an important role in whether you get life insurance and, if so, at what rate. Insurers typically want to see that you have brought your type 2 diabetes under control. Some insurers may want to see that they have been under control for six months.  They may test your blood sugar levels with a hemoglobin AIC test.

If you were just diagnosed with type 2 diabetes, you will probably want to wait before applying for life insurance because you will want to be able to demonstrate that you have had the disease under control for six months or whatever length of time the insurer may require. However, waiting too long after you have been diagnosed may not be a good idea, since you could then run the risk of insurers’ concern that you have had it long enough to run a greater risk of health complications.

If you have already had health complications such as insulin shock, neuropathy or vision problems resulting from diabetes, it could negatively affect your ability to get life insurance.

Improve your chances by making healthy choices

Diet, exercise and regular doctor visits, factors that are helpful in getting life insurance for anyone, may be particularly helpful for people with type 2 diabetes.  Since obesity and inactivity are important risk factors for diabetes, maintaining a healthy weight, exercising regularly and having regular follow-up doctor visits can help demonstrate to the insurer that you are actively working to control your diabetes.

Ben Hargrove writes for a variety of life insurance and financial planning blogs, including Best Life Insurance Deals.