No Exam Life Insurance for Diabetics
Diabetes can be a very serious health condition, but some diabetics are able to manage this medical issue very well by following a doctor’s advice about medication, diet, and exercise. Because of this, many diabetics end up enjoying very long and productive lives. While no exam life insurance for diabetics may not be as cheap as they are for perfectly healthy people, some insurers offer affordable no medical exam life insurance for diabetics who can demonstrate that they are able to manage their health condition.
What to Know About No Exam Life Insurance for Diabetics
These days, many of the best companies offer whole and term life insurance without an exam. Typically, they will ask health questions on the application, and they may check these answers against information from the Medical Information Bureau (MIB) and similar sources. Depending upon application answers and other information pulled from various sources, the insurance company underwriter might also ask for a physician’s statement.
If you have diabetes and still want to buy a no exam life insurance policy, you will probably need to satisfy the following conditions:
- Demonstration of good control: For example, companies like American Memorial and Aetna offer no exam life insurance for people with diabetes that do not require an exam, but they may require the person with diabetes to demonstrate they do not need more than 40 units of insulin a day and have never suffered diabetic shock or other complications.
- The need for a relatively modest death benefit: These policies may only offer face values in the range of $5,000 to $50,000.
Some insurers will look at a combination of factors before they decide to offer a policy and assign a rate. For example, no exam life insurance for type 2 diabetics who enjoy a very healthy lifestyle has a good chance to get accepted for coverage at a standard rate. Tobacco users can get no exam life insurance without taking a physical, but smokers who are also diabetic are more likely to get declined or charged considerably more for coverage.
Life Insurance for People with Severe Health Conditions
With that said, almost anybody can find life insurance if the need arises. However, rates could be considerably higher and death benefits much more limited. The very best rates are reserved for healthy people who weigh a reasonable amount for their height and abstain from unhealthy lifestyle choices like smoking and excessive drinking.
Again, people with no exam life insurance for Type II diabetics have a better chance if they manage their condition with exercise, diet, and oral medication still has a good opportunity to find relatively cheap rates. Those with more severe conditions might consider these options:
- Guaranteed no exam life insurance for diabetics: These policies ask absolutely no health questions, but they only offer fairly modest death benefits.
- Specialty brokers: An experienced agent can take the time to understand your particular situation or condition and check the underwriting guidelines for plans that offer no exam life insurance for diabetics to find out which insurers are likely to accept your application with an offer of reasonable rates.
Guaranteed issue policies are different from standard no medical exam policies. No medical exam life insurance policies for diabetics will ask health questions but offer an immediate death benefit. With guaranteed issue no exam life insurance policies, there are no health questions. But the insured person usually has to survive a waiting period before the full face amount is payable to beneficiaries. This waiting period might last a couple of years. Before that, the policy might refund premiums or pay some percentage of the face value.
How to Find Affordable No Exam Life Insurance for Diabetics
Average consumers can’t be expected to figure out which insurer offers the best rates and plans on no exam life insurance for diabetics, but some brokers even specialize in helping people with different medical conditions find the best companies for their unique situation.
Of course, you can also use no exam life insurance quotes to quickly compare the rates and plans of a variety of insurers that offer policies in your local area. Almost anybody can find life insurance as a diabetic, but you will want to find the right coverage at the right price for your unique situation.