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Diabetes and Life Insurance
Life Insurance for Diabetics
Chart of Ratings and Premiums
Each life insurance company has its own proprietary methodology for assigning ratings. They all follow this general construct. It's important to note that no agent can ever guarantee a rating until after the application and medical exam have been reviewed by the insurance company. I believe it is unethical for an agent to quote you a rate that they don't believe you can reasonably be assigned.
These are some sample rates from a highly rated nationally recognized carrier:
($250,000 of 20 Year Term Insurance, 35 year old Male, Non-Smoker) (1-23-2015)
Rating Class |
Monthly Premium |
Comment |
Preferred Plus |
$14 |
The "aerobic instructor" rate |
Preferred |
$18 |
|
Non-Smoker |
$29 |
Best rate for borderline diabetes |
Standard |
$50 |
Best rate available for a cigarette smoker |
Non-Standard-2 |
$66 |
|
Non-Standard-3 |
$69 |
|
Non-Standard-4 |
$87 |
Best rate for diabetes controlled by oral meds |
Non-Standard-5 |
$98 |
|
Non-Standard-6 |
$104 |
|
Non-Standard-7 |
$128 |
|
Non-Standard-8 |
$164 |
Best rate for diabetes controlled by insulin |
Notes:
- Most diabetics will not be eligible for “Disability Waiver of Premium” riders that pay your insurance premium if you become disabled.
- Borderline diabetes is here defined as elevated glucose levels that are treated with diet and exercise.
- Comorbid factors such as smoking, high blood pressure, obesity and vision problems will affect these ratings negatively.
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