Life Insurance for Type 1 Diabetics

life insurance with type 1 diabetes

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

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Many Americans, both young and old, suffer from diabetes. Aside from the physical limitations they face every day, it can prove difficult to get approved for life insurance. There are some important facts for those suffering from type 1 diabetes to consider prior to shopping.

Getting life insurance for your family can be one of the most helpful and thoughtful things to do when preparing for your future. It’s a way to provide for your family long after you are gone, and a way to know that they will have the money that they need. When you begin the process of finding coverage that works for you, type 1 diabetes can make it seem like an impossible task, but it doesn’t have to be.

We hope to make that process easier for you with the following information.

How Does Type 1 Diabetes Affect Life Insurance?

life insurance with type 1 diabetes

Type 1 diabetes is going to impact every area of your life, even your life insurance plan. Luckily, our agents have years of experience helping applicants with diabetes get the best plan to meet their needs.

If you’re a type 1 diabetic looking for affordable life insurance, or you know someone that is, this article will give you the information that you need to make an educated and informed decision, as well as make it as straight forward as possible.

If you are a Type 2 Diabetic, we can help with that as well.

5 Factors to Consider Regarding Life Insurance with Type 1 Diabetes

There are 5 key factors to consider when determining how Type 1 Diabetes can affect your life insurance policy.

When Were You Diagnosed with Type 1 Diabetes?

The age at which you were diagnosed with the condition plays a factor during the application process of life insurance. If the diagnosis occurred after age 40, the chances of getting approved are far higher. On the other hand, those who receive the diagnosis at a younger age will face more hindrances.

In most cases, type 1 diabetes is diagnosed at a much younger age, which will decrease the chances of getting approved, but it still isn’t impossible. It’s important that you and your doctor have detailed records of exactly when the diagnosis occurred, this will help give the insurance company a clear picture of your health and make the process go faster.

Graded Death Benefit Life Insurance may be an easier option to pursue for those who received an early diagnosis. In this system, the policyholder will receive a set benefit amount if a death occurs during the first couple of years. As the years pass, the benefit amount increases. This helps keep the insurance company from paying out more than it is able and allows for lower monthly premiums for policyholders.

Average Blood Glucose Levels

Another thing life insurance companies take into consideration is your average blood glucose level. Known as A1c, this number is calculated as a percentage and calculates your age and other factors. 7% is n ideal percentage with type 1 diabetes, which means your average glucose level is 154 mg/dL.

Your A1c plays a significant role in your chances of being approved for life insurance coverage. The lower your average glucose is, the better your chances of getting affordable life insurance protection.

Insulin Intake

One of the deciding factors an insurance company calls in to play when going through a type 1 application is the amount of insulin you have to take per day.

It affects your approval, but also makes a difference in your monthly premium. Most people taking 25 units or less per day will have a decent rate. When the units increase the price does as well. In general, companies approve diabetics that take up to 50 units a day.

Complications Due to Type 1 Diabetes

It is possible for someone with type 1 diabetes to receive quality life insurance with an expected “table rating” of 4-8. Even if the diagnosis occurred after age 40, those who keep their condition well-maintained and follow their doctor’s orders have a better chance than those who don’t.

It also makes a difference if your condition has caused any of the following:

  • Vision loss
  • Kidney disease
  • Amputations
  • Other complications stemming from the condition

These are all things that you will need to discuss when applying for a policy.

Finding the Most Affordable Premiums

In today’s economy, it is wise to get an idea of the monthly premiums you can expect to pay prior to shopping for life insurance.

As an example, a 55 year old woman seeking a plan that offers $250,000 of 15 year term at a Table 4 Rating could expect to pay around $128.16 with American General and $152.91 with MetLife. The rates do vary, but it is possible to calculate a range to get a better idea.

Turns out we know all the companies that view people with type 1 diabetics more favorably than other companies. We can save you the time of having to call or spend hours researching different insurance companies. Several decades ago, a person with type 1 diabetes would never be able to get life insurance coverage. However, now we understand the treatments and medications and we know what kind of impact they have on the body.

Dozens of insurance companies specialize in insuring type 1 diabetics, which means it is possible to get affordable insurance. We love to save clients time by sharing our expertise in the research of what is best for their individual needs.

Final Thoughts on Life Insurance with Type 1 Diabetes

Having a life insurance policy in place is one of the best ways to protect your family in the event of your death. While it can be more difficult to get approved when you suffer from type 1 diabetes, there are options. Just because one company does not grant approval does not mean that none will.

Finding the perfect life insurance plan can be a long and difficult process, but it doesn’t have to be. Our agents have the expertise and experience to help you find the insurance plan that best fits your needs. Contact us today and we can get the process started.

If you would like a custom quote for life insurance with type 1 diabetes, fill out the form on this page, or call us at 800-712-8519.

Picture of Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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