Life Insurance Companies for Diabetics, Which One is Best?

life insurance companies for diabetics

Sometimes it hard to qualify for a life insurance policy if you have diabetes. Diabetic people are highly risky to insure, but this does not mean that they cannot qualify for life insurance policies. In fact, it is very possible to qualify for affordable packages and avoid the high premiums paid by diabetics. 

Can diabetics get coverage?

However, this depends on your lifestyle and how your body is responding to treatment. And this applies to people with both diabetes type 1 and type 2. With most life insurance companies, you will be able to qualify for coverage as long as you have been able to keep your diabetes in control for the past 6 to 12 months. 

A lot of life insurance companies that have specialized in high-risk health and special risk are your best bet if you want diabetes life insurance. This is because they only focus on individuals who have certain health conditions that limit them from qualifying the normal policy packages. 

A diabetic can also qualify for a no medical exam policy which tends to be more expensive than the normal underwritten policies. Even with a no medical exam policy, you may be required to fill a diabetes questionnaire. It is always good, to be honest since such policies have a contestability period where your carrier can conduct an investigation into your medical history. If the information you provided was false then the insurance company has the right to cancel your policy. 

Why It Can Be Challenging

It is true that getting approved for a life insurance policy as a diabetic can be hard sometimes. In some cases, you may fail to qualify for coverage if you have other health issues, on top of diabetes. Before approving your application, your insurance company is going to rate you depending on a couple of factors. Some of the health risks which may make it hard for a diabetic to qualify for life insurance coverage include obesity, coronary heart disease, uncontrolled high blood pressure, and smoking.  

All these factors will in one way or another increase the premium rates you will pay and are explained further below.


Most companies will offer policy packages for diabetic individuals but will be lenient to those with controlled diabetes. Any individual leading a healthy and active lifestyle and is able to control their diabetes without medication or other forms of treatment is the most advantaged. So, individuals who depend on insulin are going to pay very high premiums when compared to those who don’t.


It will also be very challenging to qualify for good premiums if you are a smoker. Smoking is hazardous to health, and it makes an individual even riskier if they have diabetes and use tobacco. 

Uncontrolled Blood Sugar

When taking the medical exam for your life insurance policy, blood samples will be used to determine the glucose levels in your body. If the results prove that your blood sugar is out of control, then you will end up paying high premiums. 

How Long Ago You Were Diagnosed

If your diagnosis is fairly new, then you will end up paying high premiums. If someone has had diabetes for a very long time, then chances are that they have learned to control the disease. As opposed to someone whose diagnosis has been done recently, and probably has no to very little knowledge on how to manage diabetes. 

Difference Between How Companies Look at Type 1 and Type 2 Diabetes

In most cases, Type 1 diabetes appears for individuals below 35 years and rarely for people above that age. It is caused by the autoimmune disorder which is usually a breakdown of the immune system at which point your body is unable to produce insulin for the cells.  Diabetes type 1 is not as common as type 2 diabetes since it only contributes to 5% of the population of people with diabetes. It has no cure but can be managed through insulin therapy, which is the most commonly used treatment. On the downside, type 1 diabetes is tricky for life insurance companies to insure since they cannot predict how the disease will affect premiums for diabetes life insurance. 

Type 2 diabetes, on the other hand, is the most common type of diabetes. The body suffers from alarmingly low insulin levels forcing the pancreas to produce extra insulin so as to strike a balance. In turn, this leads to excess blood glucose production which deposits in the blood and if not addressed, such may result to the damage of nerves, eyes, kidney, and heart. To keep the situation in check, medication and insulin shots will be needed. The good thing is that since type 2 diabetes is common with most people, life insurance companies are able to get even more information about it hence making premiums affordable for clients. 

Why Life Insurance Companies Handle the Two Differently

Both type 1 and type 2 diabetes are usually handled differently by life insurance companies. The following are some of the reasons why life insurance companies look are the two from different perspectives.

Different Treatment

First, it is good to note that diabetes type 1 has no cure. People that suffer from this type of diabetes simply have to inject insulin into their bodies since they can’t produce it. This could be injections done on body parts such as buttocks, stomach, and arms, which are regarded as soft tissue areas. Alternatively, insulin pumps are usually used to supply the body with insulin.

On the other hand, type 2 diabetes is reversible and most times is usually controlled through exercise and diet. However, if this is not enough to keep insulin levels in check, medication may be prescribed to the patient. 


It is vital for diabetic people to watch and control their diet. For instance, people with diabetes 1 need to know how to balance insulin in their body by controlling the kind of food they eat. If you are taking carbohydrates, then beware of how much insulin you will need to counteract the high blood sugar levels.

If suffering from type 2 diabetes, then weight loss and healthy eating are major considerations for its treatment. 

Risk Factors

Both type 1 diabetes and type 2 diabetes have risk factors that set them apart. Risk factors for type 1 diabetes include geography, family history, genetics and age. Unfortunately, there is no known way of preventing type 1 diabetes. 

Risk factors for diabetes type 2 include excess belly fat, over 45 years, obesity, physical inactiveness, prediabetes, and so on. However, unlike type 1 diabetes which cannot be prevented, there are several ways of preventing type 2 diabetes which include increasing physical activity, maintaining a healthy weight, balanced diet and diet plan for overweight individuals.

Best companies for people with type 1 diabetes

Some life insurance companies only deal with special risk which sometimes includes diabetes. When choosing your company, it is good to decide on the company you want to purchase your policy from. Also, you will have fewer options to choose from, especially because you are regarded as a risky individual, but this does not mean that you won’t get a suitable insurer. In fact, this would be an advantage because it won’t be confusing to make a choice as to when compared to if presented with a variety of options to choose from. The following are the best companies for people with type 1 diabetes


This company was established in 1919 and has since then managed to maintain a great record for their services. The company has good financial ratings starting from A.M.Best- A to Fitch- A+, Moody’s-A2, and Standards and Poor’s- A+. AIG approves individuals with no diabetes complications and controlled blood sugar levels. 

John Hancock

This company was first established in 1862. The company’s ratings include Fitch- AA-, A.M. Best-A+, Standard & Poor’s- AA-, and Moody’s-A1. John Hancock offers some of the best rates for clients with minor or no health problems and is physically active. One of the most unique factors about the company is that it is known for rewarding policyholders with active and healthy lifestyles. The company also uses the reward points earned to give discounts to their customers.


Prudential is one of the greatest life insurance companies there are. It offers some of the best rates to customers and has been top-rated by some of the top life insurance rating companies. The company was established in 1875 and is known to offer some of the most lenient premium rates. Prudential has an A+ from A.M Best, AA- from fitch, A1 from moody’s and AA- from Standard & Poors. 

United Home Life 

United Home Life is known for its type 1 diabetics insurance policy with no medical exam with up to %50,000 in coverage. The good thing about this policy is that it is also suitable for individuals without full control over their diabetes. 

Also, it is good to note that some of the above companies that offer insurance for people with type 1 diabetes also offer life insurance policies for people who have type 2 diabetes. For instance, prudential, united home life, and John Hancock companies offer life insurance for both type 1 and type 2 diabetics.

The best companies for people with type 2

Whether with type 1 or type 2 diabetes, a lot of people find themselves generalizing diabetes. It is good to deal with specifics, and in this case, it is recommended to find an insurance company that deals with other clients with your condition. This way, your carrier will not have a hard time dealing with your problem, unless there are complications. The following are some of the companies best for people with type 2 diabetes;


This company was established in 1907 and offers really amazing rates when compared to their counterparts. Some of their top ratings include A.M. Best- A+, Fitch- A+, Moody’s- A1, and Standard & Poor’s- AA-. Through a partnership with Health IQ, Protective has been able to provide affordable coverage for a large number of diabetics.

Banner Life 

Banner life has been a top player in the industry, and one of the top products it offers includes high-risk insurance policy. It has a package tailored for diabetics who have their diabetic life insurance specially written. Offering some of the most competitive prices, Banner Life has remained one of the best life insurance companies with diabetic life insurance policies.

It has an A+ rating from A.M.Best and has been in operation for close to 200 years. 


Phoenix is yet another company with some of the best rates for type 2 diabetics. The company offers an Express package for diabetics over the age of 30 years. This policy is usually approved within 48 hours and offers coverage for up to $400,000. Also, in case the insured dies of a heart attack, renal failure, stroke, or cancer diagnosis, the company pays up to 95% of the death benefit. The company has a B rating from A.M. Best and a B+ from Standard and Poor’s. 


Founded in 1840, Sagicor has been one of the longest operating life insurance companies. Type 2 diabetes applicants can get approval for Sagicor life insurance policy within the span of 24 hours, as long as you are in control of diabetes. Also, the company offers coverage of up to $500,00 for applicants. Sagicor has a financial rating of A- from A.M. Best which explains why it is a top pick for many applicants.

Take Away

Just because qualifying for a life insurance policy as a diabetic can be challenging and sometimes almost impossible, does not mean that you won’t qualify. There is an endless list of insurance companies with products tailored specifically for diabetic people. Decide on the kind of package you want before purchasing your policy. Do you want an underwritten or a no medical exam policy? Every life insurance company will have its own standards and requirements, so weigh your options first before making your decision.