Top Life Insurance Providers for Individuals with Diabetes in 2023
Discover the four best life insurance companies tailored to meet the unique needs of individuals with diabetes in 2023.
Here are some top life insurance providers that offer good coverage options for individuals with diabetes in 2023:
- Banner Life: Offers flexible underwriting to approve mild-moderate cases. Policy options include 10, 15, 20 or 30 year term plans.
- Haven Life: Provides an "InstantDecision" process for quick approval decisions. Policy options go up to $3 million coverage.
- Lincoln Financial: Has diabetes-specific life insurance plans and won't flat out decline due to diabetes. Offers permanent and term policies.
- Pacific Life: Specifically caters to higher-risk applicants like those with diabetes. Provides permanent coverage up to $10 million.
- Principal: Has a diabetes-specific insurance plan that doesn't require a medical exam for approval. Offers 10, 15, 20 or 30 year terms.
- Protective Life: Offers an accelerated underwriting process that can provide decisions in minutes for diabetic applicants. Up to $2 million coverage.
- SBLI: Specializes in impaired risk life insurance including for diabetics. Offers permanent and term coverage up to $6 million.
- United of Omaha: Has specific underwriting guidelines for diabetic applicants to make approval easier. Term life up to $5 million.
The key is finding a company that is "diabetes friendly" in their underwriting. I'd recommend working with an independent broker who can shop multiple providers to find you the best rates and coverage.
4 Best Life Insurance Companies for Diabetics of 2023.
The 4 best life insurance companies for diabetics of 2023 are:
- John Hancock
- Banner by Legal & General
- Mutual of Omaha
- Pacific Life
These companies offer competitive rates and a variety of life insurance policies that are designed to meet the needs of people with diabetes.
John Hancock is a good option for diabetics because it offers a variety of life insurance policies with no medical exam required. This can be a good option for diabetics who have difficulty qualifying for life insurance due to their medical condition.
Banner by Legal & General is another good option for diabetics because it offers life insurance policies with lower rates than traditional life insurance policies. This can be a good option for diabetics who are on a budget.
Mutual of Omaha is a good option for diabetics because it offers a variety of life insurance policies that are designed to meet the needs of people with diabetes. Mutual of Omaha also offers a number of discounts for diabetics, such as a discount for people who have their diabetes under control.
Pacific Life is a good option for diabetics because it offers a variety of life insurance policies that are designed to meet the needs of people with diabetes. Pacific Life also offers a number of riders that can be added to life insurance policies to provide additional coverage, such as a rider that covers the cost of chronic illness care.
When choosing a life insurance company, it is important to compare rates from different companies and to read the policy carefully to understand what is covered and what is not. It is also important to talk to a financial advisor to get help choosing the right life insurance policy for your needs.
Here are some additional tips for choosing a life insurance policy if you have diabetes:
- Choose a company that specializes in underwriting life insurance for diabetics. These companies will have more experience underwriting life insurance for diabetics and may be more likely to approve your application.
- Get quotes from multiple companies. Compare rates and coverage from different companies to find the best policy for your needs.
- Read the policy carefully. Make sure you understand what is covered and what is not.
- Talk to a financial advisor. A financial advisor can help you choose the right life insurance policy for your needs and budget.