No medical exam life insurance for diabetics is available, but is it affordable?
It will NOT be as affordable as the top life insurance companies for diabetics, like Banner Life, American General Life and the others.
As a general rule, if you're looking for cheap life insurance then the best companies for diabetes will require you to have an insurance exam.
Anytime you buy no medical exam life insurance for people with diabetes, you’ll almost always pay more because the no exam companies won't know your current a1c levels and how well you're controlling your diabetes, your cholesterol, blood pressure, etc.
In this post, let's take a look at the best no exam insurance companies for diabetes, what they may charge you, find out if type 1's may be insurable without an exam or if they're only good for people with type 2 diabetes.
Best No Exam Life Insurance Rates for Diabetics
We analyzed rates from all the best no exam diabetes insurance carriers for people with type 2 diabetes.
Below are best diabetic no exam monthly rates from the top 4 companies for $250,000 of 20 year term:
Pacific Life does not offer no exam product under age 50.
American National will require any diabetic under age 50 to have a blood test as part of an insurance exam.
I've shown 2 rates for Pacific, SBLI and American National as a range of the cost. The rates for which you qualify will be determined during the underwriting process. All 3 companies may order medical records to verify your medical history.
American Amicable will NOT always order medical records, but you have to have been diagnosed with diabetes over age 25, on oral medications only (you cannot be using insulin) and you cannot have other health complications .
Highest No Exam Life Insurance Rates for Diabetics
Below are highest no exam diabetic monthly rates for $250,000 of 20 year term:
United of Omaha
United of Omaha
Nassua Re offers 2 different no exam products...the lower rates require review of medical records which can result in a longer waiting period to get approved. The higher rates are quick issue life insurance rates.
Foresters does not offer 20 year term at age 60.
I have seen some recent cases where the best no medical exam life insurance for diabetics offers have been close in cost to the best offers from companies that do require an exam, which was not the case even a few years ago. If you don’t like the idea of an insurance examiner coming to your home, you don’t like needles, you don’t like being weighed, or if you have “white coat syndrome," then getting life insurance with no exam may be the best option for you.
The best diabetes life insurance company that doesn't require a blood test or insurance exam will offer you a maximum amount of life insurance of $350,000 currently. The minimum amount of term that you can currently buy without an exam is $5,000.
You could also buy up to $400,000 of term life insurance with an oral fluid swab only, so if you don’t like needles, this may be an alternative.
There are also a bunch of final expense whole life companies that will offer diabetics life insurance without an exam, but most of these only offer amounts of $50,000, $25,000, or less.
Below is a list of final expense whole life insurance companies that offer diabetics life insurance without an exam:
American Amicable Life
American Memorial Life
Equitable Life & Casualty
Madison National Life
Mutual of Omaha
Royal Neighbors of America
United Heritage Life
United Home Life
If you are diabetic and want life insurance without an exam, you will still be required to answer health questions on an application.
All of the best no exam insurance companies will also do a pharmacy records database search, an MIB insurance history report, and they’ll get a DMV driving history report.
Some of the insurance companies above will also request medical records from your doctor if they feel it’s necessary.
Think twice if your only goal by not having an insurance exam is to hide something from the insurance companies, as they have many ways of finding out about your specific history.
Even if you sneak something by during underwriting and get approved for the life insurance, the insurance companies can try to contest your death claim if you die in the first two years after the policy was taken out.
All of the diabetic life insurance companies would review your medical records with a “fine tooth comb” after death if you die within 24 months of the policy being placed.
Honesty is definitely the best policy to make sure your beneficiary gets the life insurance that they’ll need.
As with the “exam required” insurance companies, the best no exam diabetic life insurance companies are also concerned with your age of diabetes diagnosis, degree of diabetic control, any diabetic complications you have in addition to your overall health otherwise.
If you need life insurance, have diabetes, and do not want to have an insurance exam, one of the insurance companies listed above may be best for you.
If I can help you with your no exam diabetes life insurance need, please feel free to call me at 1-800-380-3533 and ask for G3, make a quote request using link below to get the most accurate quote possible, or email me at [email protected].
Since 1992, Gordon E. Conwell, III (G3) has helped thousands of ”higher risk” individuals get the best life insurance rate/value. Being a high risk himself, he knows the struggles you’ll face trying to get affordable life insurance. His unique shopping process and underwriting knowledge will result in the best offers, every time!