Diabetes and Life Insurance

According to the CDC more than 29 million people in the US have diabetes. The good news is that if you want a burial insurance policy, there are multiple options, low priced options for people living with diabetes. The range of options available depends on a number of factors. I’ll detail these factors below give you my opinion of the best options.

For insurance purposes, diabetes is only a challenge if there are complications caused by diabetes. Complications of diabetes include neuropathy, retinopathy, diabetic coma, amputation, insulin use of more than 50 units daily, insulin use at a young age and kidney failure.

Diabetes Controlled. No Insulin Use – If you control your diabetes without the use of insulin AND have no complications, then you can get immediate, day one coverage with most companies. Assuming no other serious health conditions, Trinity/Family Benefit, Sentinel Security Life, Mutual of Omaha, Royal Neighbors of America, KSKJ Life, Prosperity Life and Liberty Bankers Life all offer competitively priced plans.

Diabetes Controlled with Insulin – If there are no complications from diabetes, my preferred companies are Trinity/Family Benefit, Royal Neighbors of America, Prosperity Life and KSKJ Life. If less than 50 units/day of insulin are required then Mutual of Omaha and Sentinel Security Life have competitively priced plans. However, the underwriting for these two companies can be more difficult.

The biggest issue for diabetes controlled with insulin is the age at which insulin was first used. Please refer to the table below to determine which companies would work best based on the age of first insulin use.

Age First Used InsulinTrinity/Family BenefitRoyal Neighbors of AmericaKSKJ LifeProsperity LifeLiberty Bankers LifeSentinel Security Life
Age 40+ YES

If you have any complications caused by diabetes it will restrict the options available to you. Fortunately, since we work with a wide range of companies, we can still find immediate coverage at a reasonable price for most conditions. Immediate coverage plans are available if you have retinopathy, neuropathy, or nephropathy caused by diabetes. You may also qualify for first day coverage if you have had an amputation caused by diabetes or a diabetic coma. The catch is that more than two years must have passed since the amputation or diabetic coma.

Please refer to the table below if you have complications from diabetes.

ConditionTrinity/Family BenefitRoyal Neighbors of AmericaKSKJ LifeProsperity Life
Neuropathy, Retinopathy or Nephropathy YES YES YES NO
Amputation Due to DiabetesOK if 2+ years ago NO NOOK if 2+ years ago
Diabetic ComaOK 2+ years ago NO NOOK if 2+ years ago

If you have end-stage renal disease or are on dialysis, your only option is a guaranteed issue plan. These plans don’t ask any health questions. Therefore, as long as you are over the age of 40, you will qualify for coverage. If you pass away within two years of starting the plan, the insurance company will return all premiums paid plus an additional 10%. After two years and a day, the full face amount of the plan will be paid upon death.