Life Insurance for Seniors with Diabetes
It is not at all impossible to find life insurance for seniors with Diabetes. The type and severity of the condition might impact choices though. For example, it may be very possible to find coverage for an individual who has Type 2 diabetes and manages this condition with exercise, diet, and prescriptions. However, people who cannot demonstrate good control or who have Type 1 diabetes may have fewer options.
Would you like an easy way to find senior life insurance rates for diabetics? All you have to do is put your home ZIP code in the form at the top of the page. In return, you will get quotes from the best senior life insurance companies in your local area.
Term Life Insurance for Seniors with Diabetes
Some insurers still sell term insurance to senior citizens, but they might start lowering the maximum death benefit for people who want no exam senior life insurance. Even term policies that do not require an exam may ask detailed health questions. In some cases, the underwriter might even ask for a doctor’s statement to confirm answers and information from other sources.
If older people can qualify for term, rates are likely to be cheaper than they are for permanent life insurance. However, seniors with diabetes that is not well controlled, smokers, or diabetics with other health conditions, are likely to either be asked to pay a lot more or even have their application declined for coverage. In some cases, insurers may just limit the maximum amount of coverage to a fairly low amount, like $50,000.
Those who manage well on less than 40 units of insulin a day, have not suffered from complications, and don’t have any other major health risks are likely to have a good choice of insurers and death benefits.
Life Insurance Policies for Seniors with Diabetes
Another product that might be considered is called senior life. Sometimes, insurance companies also refer to these small whole life policies as burial insurance or final expense insurance. Because these policies have more relaxed underwriting rules, they may be a better choice to get life insurance for elderly people with diabetes or another medical condition. Because the maximum face values are relatively low, life insurance rates for seniors with Diabetes are affordable for many seniors or their families.
These are some things to know about burial policies:
- Average burial insurance costs are kept affordable because the allowed face values are generally pretty modest.
- These policies may offer a death benefit from about $5,000 to $25,000.
- Tobacco users may pay more than nonsmokers in some cases, but they generally just offer a standard rate for everybody they accept.
- Some applications may ask health questions, but others do not require applicants to answer any health questions at all. However, seniors who can qualify for policies that do ask some health questions might enjoy cheaper premiums and better benefits.
Find the Best Life Insurance for Seniors with Diabetes Online
Buying coverage for yourself or an elderly parent should not be difficult. We offer online quotes, and all we need is your ZIP code to get started. After browsing insurers that offer coverage in your local area, you are free to compare prices, contact the company for more information, or keep shopping.
Just because you use our quote system, you are under no obligation to purchase. While you are free to help your elderly parents or grandparents shop for life insurance coverage for seniors with Diabetes, the person who will be insured still needs to participate in the process. However, most of the time this can be done over the phone or online, so you do not have to take them away from home.
If you need help, you are also free to call us. We strive to help each client find the right type of coverage at the right price.