No medical exam life insurance for diabetics is available, but is it affordable?
It will NOT be as affordable as the insurance policies for diabetics that do require an exam, from companies like Banner Life, American General Life and the others.
Check out our main life insurance for diabetics page to get all details on the absolute best life insurance rates and carriers for diabetics.
As a general rule, if you're looking for cheap life insurance then the exam life insurance companies will provide the most affordable life insurance coverage for diabetes.
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 diabetics on oral medications only.
Best No Exam Life Insurance Rates for Diabetics
First we analyzed rates from all the best no exam diabetes insurance carriers for people with type 2 diabetes.
Important to note: we are showing best case rate class (rated or standard rates) below from the insurance carriers that have no waiting period for full death benefits to be paid. The actual rate for which you qualify could be higher than below depending on when you were diagnosed with diabetes, your sugar level history, how well you're controlling your diabetes and your overall health otherwise.
Below are best no exam diabetic monthly rates from the top 4 companies for $250,000 of 20 year term:
Pacific Life, A+ Superior AM Best, does not offer no exam product under age 50. To qualify from age 50 to 69, you must have had a medical checkup and blood test with your own doctor within past 18 months. You can buy up to $1,000,000 of either term life or guaranteed universal life insurance and they will require medical records.
SBLI of Massachusetts, A Excellent AM Best, can be aggressive for diabetics and they can potentially offer diabetics age 18 to 60 up to $500,000 of term life insurance without requiring an exam.
American National, A Excellent AM Best, will require any diabetic under age 50 to have a blood test as part of an insurance exam. Over age 50, they may offer some diabetics no exam coverage up to $249,999....as at amounts of $250,000+, they will currently require diabetics to have an exam to determine your current blood sugar level and A1C. They do also offer terminal, chronic and critical illness living benefits which is included up to a table 4 health rating.
I've shown 2 rates for Pacific, SBLI and American National as a range of the best case cost. The rates for which you qualify will be determined during the underwriting process. All 3 companies will likely require medical records to verify your medical history.
American Amicable, A Excellent AM Best, will offer no exam coverage up to $400,000. They will NOT always order medical records, but to qualify you have to have been diagnosed with diabetes over age 35, on oral medications only (you cannot be using insulin) and you cannot have other health complications or be overweight. American Amicable also includes terminal and chronic illness living benefits on their term life in some States.
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
Nassau Life, B+ AM Best, offers 2 different types of diabetic no exam products, as long as you were diagnosed with diabetes at age 30 or over...the lower rates require review of medical records up to $500,000 which can result in a longer waiting period to get approved. The higher rates are quick issue life insurance rates up to $400,000. They may also pay living benefits for terminal illness, critical illnesses, chronic illnesses and for involuntary unemployment. They were formerly known as Phoenix Life. We have some concerns over their financial stability and are not currently recommending them over the other no exam insurance carriers.
Independent Order of Foresters, A Excellent AM Best, will offer up to $400,000 without an exam to some type 2 diabetics (not using insulin) at age 20 and over. They do not offer 20 year term at age 60. They will also include terminal, critical and chronic illness living benefits on their term life insurance options.
Sagicor Life, A- Excellent AM Best, will offer up to $750,000 without an exam for type 2 diabetics on oral medication only and that were diagnosed over age 50. They also include terminal illness and nursing home care living benefits.
United of Omaha owned by Mutual of Omaha, A+ Superior AM Best, will offer up to $300,000 to well controlled diabetics diagnosed at age 50+. They include terminal, critical and chronic illness living benefits on their term life insurance. Great company, but their rates are very high compared to the other no exam life insurance with diabetes companies.
Can Type 1 Diabetics Get No Exam Life Insurance
Age of diagnoses, degree of diabetic control, whether you have diabetic complications and your overall health otherwise will be a big determining factor on whether or not you'll qualify without an exam as an insulin dependent type 1 diabetic.
SBLI and Pacific Life (for those age 50+) may currently be the only companies that MAY offer without an exam to juvenile onset type 1 diabetics.
It is our opinion that most type 1 diabetics will usually qualify for much more affordable coverage by having the free insurance exam.
We can use one set of insurance exam results for ANY insurance carriers, so by having the exam we can help you obtain life insurance from any life insurance company.
There are also a bunch of final expense whole life companies that will offer diabetics burial 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 General Life (AIG)
American Memorial Life
Equitable Life & Casualty
Great Western Life
Liberty Bankers Life
Madison National Life
Mutual of Omaha
Royal Neighbors of America
Sons of Norway
United Heritage Life
United Home Life
Some of the above only offer guaranteed issue life insurance to diabetics, which is a graded benefit type of coverage.
Graded benefit means that the full life insurance amount would not be paid out to your beneficiary if death were to occur in the first 2 or 3 policy years by diabetes or any other disease or illness.
True Guarantee Issue life insurance has NO health criteria to qualify, but it is NOT the ideal life insurance because of the waiting period mentioned above.
How Does No Exam Life Insurance Underwriting Work
All of the best no exam insurance companies will review several or more databases, including the pharmacy records database, MIB insurance history report, DMV driving history report.
More and more insurance companies are also starting to use the Lexis Nexis risk classifier. This risk classifier obtains records from thousands of data sources to help determine your individual lifestyle risk.
If you are diabetic and want life insurance without an exam, you will still be required to answer health questions on an application.
Some of the insurance companies with the best term life quotes above will request medical records from your doctor if they feel it’s necessary.
We can easily place you with ANY insurance companies
When medical history records are requested, we would order them so we can easily place you with ANY higher risk life insurance company later...if the first offers made are not as good as expected.
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.
Honesty is the best policy
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.
Bottom Line- No Exam Diabetic Life Insurance
If you really want the best offer, you'll have to deal with an independent agent that can place you with ANY of the competitive insurance companies above.
The better no exam life insurance health classes are for older age onset type 2 diabetics on oral medication or that control their diabetes by diet and exercise.
No exam life insurance for type 1's is still possible, but much better rates may be available by applying for life insurance with an exam.
Whether you want term life, universal life or any other type of permanent life insurance, we can help 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 just click on the instant quotes link on very top or bottom of this page, 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!