Yes. Many people with type 2 diabetes get regular term life insurance. You may get average rates if you follow your doctor's plan and your A1C is under 7.5.
Type 2 diabetes is very common. The CDC says about 40.1 million people in the US had diabetes in 2023, and most of them have type 2. Insurers see it all the time. That is good news. It means they have clear rules for it.
The big thing insurers check is your A1C. That number shows your blood sugar over the past few months. An A1C under 7.5 can get you average rates. They also look at when you were diagnosed. People diagnosed after age 50 usually get better rates. Problems with your eyes, kidneys or feet make it harder and cost more.
Shop more than one company. NerdWallet says Guardian may give standard rates to people 70 and under with type 2 diabetes. It also says John Hancock has a policy made for people with diabetes. Each company has its own rules, so the same person can get different offers.
What insurers look at
- Your A1C (Policygenius says under 7.5 can help you get average rates)
- Your age when you were diagnosed (Policygenius says people diagnosed after 50 usually get better rates)
- Your medicines, like insulin, metformin or glipizide, and how well they work
- Problems with your eyes, kidneys or feet
- Your height and weight
- Whether you smoke
Coverage that may fit
Often the best fit if your A1C is in a good range and you have no big problems from diabetes. You will likely need a health check. A no exam option is not promised for people with diabetes.
No exam, but you answer health questions. Coverage often reaches about $50,000, and you can still be turned down for serious conditions. This can help if you want to skip the exam and your diabetes is fairly simple.
For people who cannot pass health questions. There is no exam and no health questions, coverage tops out around $25,000, and the price is high. Mutual of Omaha sells it to people 45 and older, per Policygenius. Most have a waiting period, often 2 years, before the full amount pays for a natural death (Policygenius, graded death benefit). This is a last option if you have serious problems from diabetes.
Common questions
Do I need a medical exam?
Maybe. Some people with diabetes can skip the exam, but it is not promised. Simplified issue and guaranteed issue plans have no exam.
What A1C do insurers want?
An A1C under 7.5 can help you get average rates for type 2. Each insurer sets its own cutoff.
Does taking insulin mean I will be turned down?
No. Insurers look at what medicine you take and how well it works. Insulin alone does not mean a no, per Policygenius.
Should I say I have diabetes on the form?
Yes. Leaving out health facts can put your claim at risk and can be recorded in the MIB database.
Sources
General information, not medical advice. Insurer rules change. An agent can tell you which companies treat your condition best.
