Burial Insurance For Diabetics

Written by Jeff Root

Far too often you hear people talk about being denied for life insurance because they have diabetes.

The truth of the matter is that a lot of people who apply for life insurance are unaware that they have diabetes until the dreaded medical exam.

The good news is that now life insurance companies have started to offer more favorable policy options for those with diabetes.

Can I Get Life Insurance If I Have Diabetes?

Yes, you can.

You can get coverage, but the cost of your coverage will vary based on how well controlled your disease is and how long you have had it.

There are different types of life insurance for diabetics out there, and each with a separate class distinction.

Higher classes cost more and have more stringent requirements for your overall health.

Naturally the more you are doing to control your diabetes, the higher your chances of getting a policy in the “preferred” category.

Burial Insurance For People With Type 2 Diabetes

Diabetes means you have high sugar in your blood. The body cannot use the insulin it normally creates to combat this, so you end up with too much sugar in your blood.

If left untreated, diabetes could manifest in damage to your blood vessels and nerves, and eventually result in strokes or heart disease.

In total, almost 30 million people in the United States alone have Type 2 diabetes.

For type 1 Diabetes, it is a genetic condition whereby your body fails to produce insulin at all.

For such cases, you end up insulin dependent because you must take medication regularly to keep your blood sugar levels functioning. This is a condition you would be diagnosed with as a young child.

How Does Diabetes Affect Life Insurance Rates?

If you have diabetes, purchasing life insurance typically becomes more expensive. In some severe cases, your condition may land you in the “standard” policy category only because the insurer does not see signs of personal management attempts and therefore sees you as a higher risk.

In extreme cases, no medical life insurance may be the best life insurance policy for diabetics.  This would only be in the case of a terminal diagnosis, or other health complications that could result in extremely high rates.

However, as a rule, when you apply for life insurance as a diabetic, the insurer will want to evaluate how well you are controlling the disease.

Life Insurance Questions For Diabetics

When applying for life insurance with diabetes, you will be asked questions related to the following:

  • A1C Level
  • Fasting blood sugar level
  • Current medications
  • How often you visit your physicians
  • When you were diagnosed with diabetes
  • Any health complications you may have

How A1C Levels Affect Life Insurance Rates for Diabetics

Good levels are anything below 7.5. But you are still able to get coverage if your levels are elevated up to 8.5.

Just remember that higher levels may result in higher premiums or may land you in a rate class of “standard” and not permit you to get “preferred” coverage.

How Fasting Blood Sugar Levels Affect Life Insurance Rates for Diabetics

Levels at 140 or lower are best but you are still considered for coverage if your levels are up to 180.

Certain companies evaluate your fructosamine levels too for 2 to 3 weeks, looking for levels between 1.5 and 2.5.

How Your Medications Affect Life Insurance Rates for Diabetics

If you take insulin and/or pills, they will want to know. It is better for you to control your diabetes through diet than it is to control your diabetes through pills.

Diet alone can make improvements that are statistically upwards of 60% in your numbers whereas the most you can hope for with pills is around 15%.

So, naturally, you can do more for your quality of life if you work with dietary changes a few months before applying than with pills.

How Visiting Your Doctor Affect Life Insurance Rates for Diabetics

Insurance companies need to weigh your relative risk as a customer, so they need to know how much effort you are putting into preventative care and other maintenance.

If you visit your doctor regularly, that means you are regularly getting checkups and trying to manage your diabetes responsibly.

If you avoid going to the doctor, it appears you are not trying to prevent your condition from worsening.

The more effort you put into management, the higher your chances of approval for a better rate class.

How Long You Have Had Diabetes Affects Life Insurance Rates for Diabetics

Insurers want to know if you were diagnosed recently or if you have a genetic condition.

If you were diagnosed after the age of 30, you may still qualify for a better rate.

How Health Complications Affect Life Insurance Rates for Diabetics

If you have no complications from your diabetes, no neuropathy or kidney disease or even retinopathy, you can still qualify for a higher rate class because it shows that you have decent control over your disease.

Burial Insurance for Diabetics

Burial insurance differs from term or whole life insurance policies insofar as it is meant to just provide enough coverage for burial or funeral arrangements and perhaps any outstanding debt.

If you want a policy that is large enough to cover the cost of living for a dependent spouse and children you leave behind, then you might want a policy that is much higher.

Burial insurance amounts are typically under $25,000 and can be purchased in increments of $5,000. With burial insurance, many companies offer the policy without a medical exam requirement or even any medical questions.

This means your having diabetes does not impact costs. It also means that you do not have to stress about meeting specific parameters for A1c levels or fructosamine.

By comparison, the costs for other policies may be prohibitively expensive if you have diabetes, if you are not in the best of health, in large part because of the previously mentioned medical exam and health questions the insurer reviews.

Is Burial Insurance Right for Me?

One of the main questions diabetics have is whether diabetes makes term and permanent insurance that much more expensive than the burial insurance route.

Well, that truly depends on your current situation, how long you have been diagnosed, how well you are managing it, and what your other lifestyle factors look like.

Not being insulin dependent has a large impact on life insurance rates.

As is the case with any application, age is important too. The older you are when you apply, the more it will cost you in coverage.

After the medical exam, and health questions, if you fit into the “approved” levels for most, if not all of them, then the policy premiums you are offered for a term plan could be only marginally different per month (around 20% higher) compared to a low-end burial insurance plan. If you need higher coverage amounts, upwards of $500,000 rather than the bare minimum of $10,000 then a 20% increase might be affordable.

If, however, you are not managing your condition well, you are older, and you are insulin dependent, the difference in monthly premiums may be much higher.

Also, if you only need a small amount of protection, cannot afford more protection, or are in poor health, burial insurance may be best for you.

Best Burial Insurance Rates for Diabetics

Let’s take a minute to compare some rates from some of the best life insurance companies for diabetics.

First, we will discuss term life insurance rates for diabetics, then whole life insurance rates for diabetics, and finally, we will compare them to burial insurance rates for diabetics.

This should give you a good idea of which policy is right for you.

Whole and Term Life Insurance Rates for Women With Diabetes

The sample below is an average monthly cost for a 20-year term life insurance policy that is worth $500,000. The applicant is a female who is 40 years old and lives in California.

She is 5’3” and weighs 140 pounds. Said applicant was diagnosed with diabetes in 2014 and has a clean driving record. Their A1c levels were 7.7 when last checked and their average A1c levels are 7.2 for the last 12 months.

They have no complications due to diabetes and do not use insulin. Their pill-based treatment for diabetes ended in 2016.

Company Monthly rate
AIG $67.60
Protective $73.75
Mutual of Omaha $92.75
Transamerica $101.91
Lincoln Financial $105.11
Prudential $109.81

As a point of reference, said applicant would also qualify for a permanent, whole life insurance policy the cost of which would be $540 per month.

Whole and Term Life Insurance Rates for Men With Diabetes

As a point of reference, said applicant would also qualify for a permanent, whole life insurance policy the cost of which would be $540 per month.

Let’s look at another sample. This one is a male who is 50 years old. A California resident too, this man is 5’9” and weighs 170 pounds. The applicant was diagnosed with diabetes in 2010 and has a clean driving record.

Their A1c levels were 7.7 when last checked and their average A1c levels were 7.2 for the last 12 months. They have no complications due to diabetes and no insulin use.

Their pill-based treatment ended in 2016. The sample cost is for a 20-year term life insurance policy that is valued at $500,000.

Company Monthly rate
AIG $209.89
Protective $210.49
Lincoln Financial $217.68
Transamerica $269.72
Prudential $271.57
Mutual of Omaha $276.50

As a point of reference, said applicant would also qualify for a permanent, whole life insurance policy the cost of which would be $540 per month.

Burial Insurance for People With Diabetes

Let’s now take a minute to compare burial insurance rates for people with diabetes, for both men and women, age 50.

Company Coverage Male Female
Lifeshield National $10,000 $26/mo. $23/mo.
Assurity $29/mo. $25/mo.
Lifeshield National $25,000 $62/mo. $55/mo.
Liberty Bankers Life $69/mo. $57/mo.
Mutual of Omaha $68/mo. $57/mo.
Lifeshield National $50,000 $122/mo. $109/mo.
Assurity $135/mo. $119mo.
United Home Life $138/mo. $113/mo.
United Home Life $100,000 $271/mo. $221/mo.

As you can see, when compared to term a life insurance coverage, burial insurance is a cheaper alternative than term life insurance for less coverage.

For those who are older, have less financial dependents, only require a small coverage amount, are in poor health, or need life insurance fast, burial life insurance is the best for you.

Finding the Best Burial Life Insurance for Diabetics

When it comes to finding the best life insurance rates or burial life insurance rates for diabetics, it is best to speak with an independent life insurance agent, who can compare rates and policies for multiple life insurance companies at once.

Our agents are ready to help you find the best burial insurance coverage for your family, by understanding your specific needs and discussing your options with you.

Compare burial rates today with our online quote, or call us today to compare rates from the best burial insurance companies for diabetics.

Compare the Best Burial Insurance for Diabetics here

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About Burial Insurance Coverage
About Burial Insurance Coverage

We work with individuals across the nation to secure the best life insurance rates.

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