Burial Life Insurance for Diabetics With and Without Complications

Burial Life Insurance for Diabetics With and Without Complications

Diabetes: How to Save Time and Money on Life Insurance

Let’s go back in time, say some 10-20 years or so. Now let’s take a look at the case of some one with diabetes, applying for and being approved for life insurance was an enormous challenge. Take it one step further, If you were a diabetic with complications (i.e. neuropathy, retinopathy, amputation, etc.) the chances of you being approved for life insurance policy was ZERO, or very close to ZERO.

Diabetic healthcare and medicine has evolved over the last 10-20 years, with this evolution has been the advent off access to affordable life insurance for people that suffer from Diabetes. There are life insurance options for people with diabetes, there are options even for people who have complications for diabetes.

Not only are there many options in 2020 (and beyond), ALL the choices are simple, easy, and affordable, even if there are complications. 

In order to get the best rate, you will be required to answer medical questions, we refer to policies that ask medical questions, but do not require a medical exam, as SIMPLIFIED ISSUE. Alternatively, a policy that has NO medical questions or exams as GUARANTEED ISSUE.

NOTE:: Guaranteed Issue policies do not offer a death benefit for TWO YEARS. Ask yourself, the two following questions;

  • Do I want to pay premiums for the first two years, and IF I (unfortunately) were to pass away, will that negatively impact my family?
  • If I do not want to “give” premiums to an insurance company for the first two years, what can I do about it?

The trick is KNOWING YOUR OPTIONS! In this article, you’ll find out how and where diabetics can get affordable burial life insurance.

How to Purchase Burial Life Insurance if you are Diabetic?

If you are a diabetic, we will answer all the questions required for you to know “how and where to shop”. With that said if you are a diabetic, or any other health issue that you are diagnosed and/or being treated for,it is recommended you speak with a a local independent agent or adviser. Your local independent adviser will certainly be able to help you save time and money, by knowing EXACTLY which carriers will be able to help you and which carriers are the most affordable.

Burial Life Insurance for Diabetics WITHOUT Complications – Type 1 & Type 2

If you’re a diabetic without complications, you’ll have many options, carriers, and policies to 

Investigate. The options available early in 2020 are more than in early  2019 and with certainty, there will be more options in 2021. The point here is to not be discouraged with any previous negative experience(s) applying for life insurance.

The life insurance world no longer differentiates “Type 1 vs. Type 2.”, rather some carriers and policies will ask questions regarding when you were first diagnosed. One example of how the question could also be asked;

EXAMPLE: Were you diagnosed with diabetes before the age of 30? Royal Neighbors burial life insurance applications asks this question, verbatim. If you answer YES to the present question, unfortunately your application will not be approved.

List of Burial Life Insurance Carriers for Diabetics w/No Complications

* American Amicable – Modified policy if prescribed insulin before 50, after 50 is level (metformin or pill is level)

* American Home Life – Level (standard) policy if diabetic with no insulin, with insulin is graded

* Americo Eagle – Level (standard) health class no matter when prescribed insulin

* Assurant – Declined if insulin prescribed before age 45

* Baltimore Life – Graded if you’re prescribed insulin, standard if metformin (pill)

* Forestersdoesn’t ask when insulin started (1st prescribed)

* Liberty Bankers Life – Level if insulin began after age 25, standard otherwise

* Mutual of Omaha – Declined if insulin prescribed before age 50

* Prosperity – Level (standard) health class no matter when prescribed insulin

* Royal Neighbors – Declined if insulin prescribed before age 30

* Transamerica – Preferred rating for pills (metformin), Standard for Insulin

* United Home Life – Preferred (premier) health class if you’re prescribed metformin (pill), otherwise standard (deluxe) health class

Burial Life Insurance for Diabetics WITH Complications

If you, or someone you know, is diabetic AND has complications from diabetes, the options for life insurance are more restrictive, but (please) do NOT give up hope, there are options!

Diabetic complications include:

  • Retinopathy (eyes)
  • Neurophathy (nerves)
  • Nephropathy (kidney)
  • Coma
  • Amputation (most frequently toes)

In each of these cases it is imperative that you speak with a local independent adviser, as opposed without complication where it is just a recommendation. Each person is different, EVERY case is different, and when you start to compound health conditions on top of each other, a skilled and knowledgeable independent adviser will know how to save you time and emotional stress applying for and getting approved for life insurance.

List of Insurance Carriers for Diabetics w/No Complications

* American Amicable – Accepted as a modified policy

* American Home Life – Nephropathy is a decline, neuropathy and retinopathy with no insulin is standard (not available altogether states)

* Americo Ultra Protector – Level unless combined with Stroke, TIA, heart condition , renal disorder or Circulatory Disease during which may be a decline

* Liberty Bankers Life – Preferred if last event was quite 2 years ago.

* Royal Neighbors – Level, decline if coma , amputation may be a decline

* Transamerica – Level (insulin is standard rating) if last event was quite 2 years ago

* United Home Life – Will accept most complications, excellent spot to start!

Left to your own devices, the go to carrier for people with diabetic complications is United Home Life (UHL). UHL offers day 1 coverage for most diabetic cases, though unfortunately in some VERY severe cases Guaranteed Issue will be the only option. UHL has 4 separate health classes for burial life insurance, the majority of cases will be able to fit into into one of those 4 cases for day 1 coverage.

NOTE: If you have been declined for coverage at other carries, you will likely be approved with UHL and the cost will be 20-30% for UHL than for other carriers, however that is a small price to pay for the ability to get DAY 1 COVERAGE!

Diabetics – Where to Get More Burial Life Insurance Information & Rates

You can click here to get more information and get rates from all carriers and policies. 

Lastly, thank you for reading this article. Our objectives for this article are to PROVIDE HOPE and INFORMATION for people with diabetes and people that know people with diabetes. Please do share this with someone that has diabetes, it might make a HUGE difference in their lives and the lives of their family.