It’s a common belief is that obtaining life insurance when diabetic is not possible and that people with this disease cannot insure themselves. However, with a growing number of people suffering from this disease, life insurance companies have developed products suitable for diabetics.
The fact that you are diagnosed with diabetes no longer prevents you from having access to the different types of life insurance. Regardless of the type of diabetes, there are quality life insurance products available at very competitive prices. Insurers will take several aspects of your situation into account to insure you:
- Your cholesterol levels
- Your blood pressure
- Your weight
- Your cardiovascular condition
There’re several companies that provide affordable insurance coverage to patients with varying conditions, income levels, and ages. These companies have agents countrywide who are experienced in insurance and knowledgeable on diabetic matters. In this article, we will be sharing the top 5 diabetes insurance companies you can rely on.
1. John Hancock’s Aspire
John Hancock’s Aspire has a program known as Vitality which provides coverage for Type 1 and Type 2 diabetics. They also offer tools that help patients manage their condition better, earning them up to 25% of their insurance premiums.
If you eat well, exercise, meditate and adopt good sleep habits, for example, you will earn vitality points with your John Hancock life insurance policy.
All insurance companies reward healthy customers with cheaper premiums. John Hancock, however, is one of the few life insurance companies to offer a formal program that rewards healthy living.
The Vitality program is offered as a special rider that you can purchase starting from as little as $2 per month with any term or permanent insurance. John Hancock has also partnered with Onduo, which provides supplies and support to diabetic policyholders.
Other than earning the 25% discount for your healthy life choices, you also get an opportunity to receive a complimentary Fitbit or Amazon Halo device, discounts on fresh vegetables and fruits, discounts on Hotels.com, Amazon.com, and other popular retailers.
Some of the advantages that stand out with John Hancock’s Aspire are that it’s tailor-made for diabetics, offers an extensive range of health resources and discounts for healthy lifestyle choices, and has AM Best rating of A+.
A majority of life insurance may turn you down or charge the highest premium if you have a diabetic condition. However, Prudential will take their time to understand each individual condition and offer tailored coverage. If you have your diabetic condition well managed, you can even qualify for standard rate policies. There’re those who even opt for coverage without a medical exam if they’re happy with lower coverage.
Prudential’s popularity stems from its flexibility as well as its reputation and the history of trust it has built over time. The company was founded in 1875 and currently holds an A+ rating from AM Best.
Their non-exam term life insurance for diabetics offers maximum coverage of $500,000. You will however still need to fill out a diabetes questionnaire for an accurate assessment of your condition.
AIG is a leading international insurance company providing life insurance in the United States. If you are between 50 and 85, you can purchase guaranteed life insurance from AIG.
AIG ensures that your life insurance application will never be refused for health reasons. Coverage ranges from $ 5,000 to $ 25,000, with life insurance policies for as little as $ 20 per month.
Term life, whole life, universal life, quality of life, variable universal life, accidental death, and dismemberment policies are all available for purchase. Currently, the American International Group (AIG) is headquartered in New York City, although the company was established in Shanghai, China in 1919.
The company has an AM Best rating of A, and while it may not have an insurance package specifically designed for diabetics, it offers 18 different term durations you can choose from. If the length you need insurance coverage changes, you may be able to switch to permanent insurance. With this kind of flexibility, most people with chronic conditions such as diabetes find AIG an excellent fit.
4. Pacific Life
Pacific Life was founded in 1868 and they have been offering reliable life insurance for more than 150 years now. They are rated A+ by AM Best 8 and have over $1 trillion worth of active life insurance coverage.
They offer term as well as permanent life insurance, with a minimum coverage starting from $50,000. Like many other insurance companies, factors that may affect your premiums include the age you were diagnosed, the presence of other chronic conditions, and whether you drink/smoke regularly.
Pacific Life is quite flexible on premium repayment terms; you can pay annually, bi-annually, quarterly, or monthly. They don’t offer online quotes, so you have to speak to their agent to get a quote.
5. Brighthouse Financial
If your primary preference is to skip the medical exam, then you have a better chance of getting your policy approved by Brighthouse Financial’s life insurance. The company was founded in 1863 and has served more than 2 million customers. Brighthouse Financial has an AM Best rating of A, and ranks in the fortune 500 list, which means strength and financial stability.
They have a SimplySelect policy that offers non-exam term life insurance for customers aged between 25 and 49.5. This means if you’re diabetic, you can benefit from this coverage and probably get the best non-exam rates than you would get elsewhere.
The coverage ranges from $100,000 to $2 million. You also get a flexible premium repayment schedule ranging from annually, semi-annually, quarterly, and monthly