Best Life Insurance Companies for Diabetics of 2022

*The quotes above are examples of what a 40-year-old man in excellent health might pay for a $250,000 policy over 30 years.. Get life insurance quotes from multiple companies to find your best rate.

final verdict

Based on our review of over 90 life insurance companies, we’ve determined that John Hancock is the best insurer for diabetics due to its excellent third-party ratings and diabetes-specific Aspire program that can be added to temporary or permanent fonts. Plus, diabetics can take advantage of unique discounts and perks, like free blood sugar testing supplies and devices.

However, which company is best for you will depend on your specific needs. If you’ve ever had trouble qualifying for a policy, try Mutual of Omaha which guarantees coverage for its entire life insurance policy. If excellent customer service is a priority for you, try Nationwide or Pacific Life. Both companies also offer a wide range of font types to choose from. And if you’re interested in term insurance, be sure to get a term life insurance quote from Banner.

Can a person with diabetes buy life insurance?

While diabetes is a pre-existing condition, it is still possible for diabetics to take out life insurance. However, it is usually easier to qualify for coverage with type 2 diabetes.

Type 2 diabetes is often diagnosed later in life and can be managed. In contrast, type 1 diabetes is more difficult to treat. For this reason, people with type 1 diabetes generally pay higher coverage rates than people with type 2.

To get approved for life insurance as a diabetic, many life insurance companies require proof that your diabetes is well managed and that you are under medical care. Not only will this help you qualify for coverage, but it can also lower your rate.

Type 2 diabetics can purchase life insurance. In general, type 2 diabetics obtain coverage more easily than type 1 diabetics. This is because type 2 diabetes is more easily managed with lifestyle changes, such as weight loss and weight gain. medications, while type 1 diabetes is an autoimmune disease that can last a lifetime.

Additionally, studies have shown that people with type 1 diabetes generally have a shorter life expectancy than type 2 diabetics, which can make it more difficult to qualify for life insurance.

Is life insurance worth it?

Life insurance is not an investment. It is there to protect your family, loved ones or business partners against financial loss in the event of your death. So if you have other people who are financially dependent on you, it’s likely that life insurance is worth it for them. Life insurance can pay for your funeral expenses and the living expenses of your dependents while your estate is settled. It can also pay for certain things while you are alive, such as care for a chronic or terminal illness.

However, life insurance is not necessarily for everyone. If you have no financial dependents, no debt, and significant savings, you probably need less. In this case, the money you would pay in life insurance premiums might be better placed in an emergency fund or invested in a retirement account.

How We Choose The Best Diabetic Life Insurance Companies

To develop our global offer life insurance methodologyWe started by researching what consumers expect from life insurance companies, and for that we turned to third-party consumer studies, including the US New Life Insurance Companies study. 2021 States by JD Power and the 2021 Insurance Barometer Study, by Life Happens and LIMRA.

With these results in mind, we collected more than 50 data points on 91 life insurance companies, including ratings on financial strength, customer satisfaction and customer complaints, as well as information on years in business, costs, online tools, no-exam options. , font types and their features, and available endorsements.

Our review process gave preference to companies with superior financial stability, few customer complaints, and a robust suite of products and resources. In particular, we liked the online quote and application tools, transparent pricing, and no-exam policy options. Businesses received improved ratings if customer service was accessible through features such as live chat.

We compared individual offerings between companies, digging deeper into product specifics, including maximum coverage amounts, maximum issue ages, riders included, available programs, and product-specific application processes. We used this research to determine the best companies for different products and consumer groups, including diabetic life insurance.

Of the companies we looked at, those with the most financial stability, the fewest complaints, the lowest costs, and the most generous no-medical-exam options scored the highest in all categories.

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About Tips Clear

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