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  • Writer's pictureLife Hub Corp.

Diabetics And Life Insurance

Some people believe that life insurance for diabetics doesn’t exist. There can be quite a few life insurance options for the 3 million plus Canadians who have diabetes.

While diabetes remains a health challenge for many, it is still possible to secure life insurance as a diabetic. Here are some key things to know about getting life insurance if you have diabetes.

Insurance companies consider many factors.

In addition to knowing whether you have diabetes, a life insurer will want to know:

  • Whether you have Type 1 or Type 2 diabetes

  • The age you were diagnosed with diabetes

  • What medications you’re taking

  • Your height and weight

  • How well you’re controlling your diabetes

  • Your glucose levels

  • If you have other health conditions like heart disease and/or high blood pressure

  • If you smoke

  • Your overall medical history

  • Your family history

Life insurance for diabetics underwriting varies by insurer.

All insurers have different underwriting guidelines when it comes to life insurance for diabetics. Even still, insurers care about your age at which you were diagnosed. Having been diagnosed earlier in life means that diabetes has been affecting your body for longer increasing the likelihood of side effects. That may make it harder to get coverage.

Insurers will also care about any severe diabetic complications. Diabetic comas, amputations, or a hospitalization are the big three they care a lot about.

Finally, people with Type 2 diabetes typically have an easier time securing life insurance than people with Type 1 diabetes.

A Nontraditional plan is an option.

Guaranteed issue life insurance is a nontraditional plan option. With this option, you get a limited amount of coverage on the spot. You are not required to have a medical exam or even answer any medical questions. Just know that you may only get a limited amount of coverage and that the rate may seem more than traditional. There’s also often a waiting period as well.

Controlling your diabetes can help you get better coverage.

Life insurers look more favorably on diabetics who are working on managing their condition. This usually means regular visits with your doctor, taking your prescribed medication, maintaining a healthy weight, and having lower A1C and glucose levels.

It may even be possible to secure a better rate once you control your diabetes. This might be true if a lengthy amount of time has passed since a hospitalization from diabetes. (Just know that the incident may remain on your health record and affect your rate.)

Working with Life Hub Corp is your best bet.

Ideally, you want a broker like Life Hub Corp who has relationships with many different life insurance companies. This means they can shop around for the best possible coverage for you. It also means they can turn to other carriers if your application is rejected.

Start the process by contacting us about assessing your health. Once your health situation is known, we can better serve your needs.



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