Diabetes Life Solutions, an online service that lets people buy life insurance from any of more than 50 well-known companies, just released the results of a new poll today. According to the poll, people who have diabetes under control can get a lot of cheap life insurance choices, and rates for diabetics are at an all-time low. However, the majority of the diabetes community has a misconception that obtaining life insurance is difficult.
The American Diabetes Association (ADA) says that in 2024, 9.4% of Americans, or about 30 million people, had diabetes. People in the United States aged 18 and up have a condition called pre-diabetes, which makes them more likely to get type 2 diabetes.
These are the lowest rates of life insurance that we’ve witnessed in the last 25 years. We conducted a survey in preparation for November in recognition of National Diabetes Month, and the results show that a robust and competitive market for life insurance exists for individuals suffering from diabetes who are stable and in compliance with their doctor’s instructions,” said Matt Schmidt with Diabetes Life Solutions, the founder and CEO. We are hoping that our findings can help those with diabetes who are looking for the best deals in life insurance.
Assuming no other ratable health issues, the chart below provides the most affordable monthly costs for diabetics who are type 2 on a 20-year, medically underwritten, level-term life insurance policy that will cover death by any cause, at any time and in any location, with the exception of suicide within the first two years of coverage (one year in some states). The sample 20-year term insurance rates listed require medical underwriting and are renewable, without evidence of insurability, to age 90+. Certain plans can be converted to permanent insurance without the need to undergo further underwriting.
| Sample 20 Year Term Life Premiums for Type 2 Diabetics |
| Female Monthly Rates |
| Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
| 25 | $10 | $21 | $31 | $55 |
| 30 | $12 | $23 | $33 | $59 |
| 35 | $12 | $23 | $39 | $71 |
| 40 | $16 | $29 | $48 | $88 |
| 45 | $21 | $40 | $73 | $135 |
| 50 | $28 | $51 | $93 | $173 |
| 55 | $38 | $73 | $138 | $264 |
| 60 | $59 | $120 | $229 | $436 |
| 65 | $103 | $217 | $407 | $777 |
| Sample 20 Year Term Life Premiums for Type 2 Diabetics | ||||
| Male Monthly Rates | ||||
| Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
| 25 | $12 | $22 | $38 | $67 |
| 30 | $12 | $23 | $39 | $70 |
| 35 | $14 | $25 | $44 | $80 |
| 40 | $18 | $33 | $60 | $113 |
| 45 | $26 | $52 | $94 | $180 |
| 50 | $24 | $66 | $124 | $237 |
| 55 | $52 | $99 | $191 | $360 |
| 60 | $84 | $169 | $327 | $621 |
| 65 | $149 | $303 | $600 | $1,181 |
Matt Schmidt noted that the 20-year term policy was our most popular. On the Diabetes Life Solutions website, you can find other rate guarantee plans, such as level-for-life, 10, 15, 25, 30, and 30 years. However, a person can choose whatever term length that they desire. Permanent life insurance is another option for most people with diabetes as well. This type of product is designed to provide coverage for a persons entire life.
All of the premiums shown require an application that is signed, a paramedical interview, an analysis of medical records, and acceptance by each underwriting firm. It’s evident that those with diabetes are able to secure assurance of peace of mind with attractive prices, according to the Vice President.
According to the CDC, there exist two types of diabetes, one type and the other type 2. Type 1 is when beta cells in the pancreas are attacked and killed by the body’s defense system. These are the only cells in the body that make insulin, a medicine that keeps blood sugar in check. Type 1 diabetics get insulin through injections or pumps. Type 1 diabetes is more common in children and young adults and makes up around 5 percent of diabetes cases among adults.
Type 2 diabetes is the second type of diabetes that affects 90-95% of the US adult population. It usually begins with insulin resistance where the cells aren’t able use insulin properly and the pancreas eventually stops producing insulin.
The underwriting and assessment of those suffering from diabetes by life insurers varies widely, so it is important to shop around and deal with an agency with previous had experience working with many insurance companies. Generally, life insurance for type 1 diabetics will be more expensive. Yet people with type 2 diabetes may be approved at the same premiums as people who do not have a form of diabetes.
Diabetes Life Solutions can give people with type 1 and type 2 diabetes instant life insurance quotes. Customers can now quote without giving their name and make purchases online in complete privacy. They can also call our licensed phone agents for personalized service and help. Nearly everyone with a form of diabetes will qualify for life insurance coverage. Some applicants may even be approved without having to undergo examinations.
