Best Life Insurance for Diabetics

How to navigate buying insurance if you have diabetes

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Purchasing life insurance can protect your family from financial hardship in the event of your death. If you’re diabetic, it can be even more important to have a life insurance policy due to complications that might result in early death. To ensure their ongoing financial stability, it’s important to get a policy with a sufficient payout.

While there are fewer choices for diabetics, it’s still possible to get an affordable policy that meets your needs. To narrow down your options, we looked at 25 different life insurance providers, evaluating them based on financial strength, customer satisfaction, affordability, ease of qualification for diabetics, and a variety of options. Keep reading to explore our list of the best life insurance companies for people with diabetes.

The 8 Best Life Insurance for Diabetics of 2021

Best Overall : Principal



Why We Chose It: Diabetics can still qualify for standard health ratings and low premiums with Principal, and it also has above-average customer satisfaction and financial strength ratings.

What We Like
  • Less expensive than many other policies for diabetics

  • Both term life and permanent life policies available

  • High customer satisfaction and financial strength ratings

What We Don't Like
  • No whole life insurance option

Principal Financial Group has been around since 1879, issues policies in all 50 states, and has an A+ rating with AM Best. It’s easy to get a quote online, and you can also talk to an agent. Principal has above-average customer satisfaction ratings with J.D. Power. They offer term life insurance with 10-, 15-, 20-, and 30-year term lengths, as well as four types of permanent life insurance: Universal Life, Indexed Universal Life, Variable Universal Life, and Survivorship Insurance. 

We selected it as our best overall because people with type 2 diabetes can still qualify for standard health ratings, so you have a shot at lower rates with Principal than with other companies. Insurance companies typically use table ratings for people with health issues, and the higher the number or letter on the table rating, the higher your premium will be. But if you’re a Table 1-3 rating, Principal will apply the Automatic Standard Approval Program to get you a standard premium. 

Prices vary based on many individual factors, but Principal has an online tool to help you estimate the cost. For example, a 50-year-old male non-smoker living in California would pay an estimated $39 per month for a 20-year, $250,000 policy. But your health history, family history, occupation, and lifestyle will also influence your rate. 

Read the full Principal review for more details.

Best for Whole Life Policies : Nationwide



Why We Chose It: Nationwide was ranked third by J.D. Power in their 2020 U.S. Life Insurance Study and offers a customizable whole life insurance policy with two different payment options.

What We Like
  • High customer satisfaction and financial strength ratings

  • Whole life insurance policies are customizable with riders

What We Don't Like
  • Non-Tobacco Standard is the best-case health rating non-insulin-dependent diabetics can expect

  • Juvenile diabetics will be declined

Nationwide Mutual Insurance Company was founded in 1926, provides policies in every state, and has an A+ rating with AM Best.

Nationwide is our choice for best for whole life policies because it offers a whole life insurance policy for diabetics with a lot of flexibility. You can choose how often you pay your premiums and pay up your policy in 20 years or until you turn 100. You can also add various riders for an extra charge, such as an accelerated death benefit. There are also 15 different riders to choose from, including a premium waiver should you become disabled and a long-term care rider. 

In addition to whole life policies, Nationwide offers term life policies. You can get a quote for either option online or call to speak to an agent. Nationwide is also one of the few companies that allow diabetics to save by bundling their life insurance policy with their auto or homeowners policies. The cost of Nationwide policies varies based on several factors, including your age and gender, occupation and hobbies, health history and family health history, and your smoking use. 

Read our full Nationwide review for more details.

Best for Term Life Policies : Ethos



Why We Chose It: Ethos offers a lot of flexibility with the term and benefit amount for a wide range of ages and also provides simplified issue life insurance designed for people with health issues.

What We Like
  • Flexible terms and benefit amounts

  • Easy and fast online application

  • Several available riders

What We Don't Like
  • Pricier than other online insurers

  • No online quotes for whole life insurance

Ethos was founded in 2016, but they partner with older and larger providers such as Banner Life, Ameritas, and TruStage to issue policies across the country. Its simple issue life insurance policies are underwritten by Ameritas and TruStage, which each have an A financial strength rating from AM Best. 

Ethos is our choice as best for term life insurance because it offers flexible term life and whole life insurance policies, it's easy to get a quote for a term life insurance policy online, and its simplified issue life insurance product guarantees approval without a medical exam.

We also like that Ethos makes decisions on a case-by-case basis, evaluating more than just your health status. Your premium will also be based on your age, your smoking status, and your finances, as well as the type, term, and amount of the policy. Ethos estimates that a 45-year-old nonsmoker will pay $135 per month for a 10-year policy with a $1 million benefit. 

While you’ll need to call for whole life insurance quotes, you can easily apply, be approved, and make your first payment for term life insurance online. You’ll also be able to customize your coverage with a term of 10, 15, 20, or 30 years and a death benefit between $25,000 and $10 million. 

Best Affordable Option : Prudential



Why We Chose It: Prudential is known to give better table ratings to diabetics than other companies, which means diabetics can qualify for a lower rate, and they offer credits to help you get a lower premium.

What We Like
  • Affordable premiums for diabetics

  • Terminal illness rider included

What We Don't Like
  • Just below average rating with J.D. Power

  • No whole life insurance policies

Prudential has been around since 1875 and has an A+ financial strength rating with AM Best. They offer a variety of term and universal life insurance plans nationwide. It’s easy to get a quote and even purchase a policy online. Prudential’s J.D. Power rating is just below average, but the provider has strong customer reviews on Consumer Affairs. 

Prudential is our choice for best affordable option because the company is known to have favorable underwriting for diabetics. It’s possible to qualify for a standard rating with Prudential, even if you have diabetes, which means premiums from Prudential tend to be lower for diabetics than at other companies. They also offer underwriting credits that can help offset higher premiums due to diabetes. For example, good control over your blood sugar could offset a debit for your diabetes diagnosis. 

The average cost of a policy for someone in their 40s is about $65 per month, but your actual rate will depend on your health and smoking status, age and gender, driving history, occupation, and hobbies. 

Read our full Prudential review for more details.

Best for Qualifying Easily : Mutual of Omaha

Mutual of Omaha

Mutual of Omaha

Why We Chose It: In addition to offering a guaranteed issue life insurance policy for older adults, Mutual of Omaha is one of the few providers to offer coverage to people with type 1 diabetes without a medical exam.

What We Like
  • Strong customer satisfaction ratings with J.D. Power

  • Guaranteed issue whole life insurance policy for older adults

  • Excellent financial strength rating

What We Don't Like
  • You’ll need to speak to an agent by phone for whole life policies except the guaranteed plus whole life insurance product

  • Limited online resources for account management

Mutual of Omaha has been in business since 1909 and has a financial strength rating of A+ from AM Best. The provider ranks in the top five for customer satisfaction with J.D. Power in their 2020 U.S. Life Insurance Study. 

Mutual of Omaha is our choice for best for easy qualifying because it offers a guaranteed issue life insurance policy for people ages 45–85 (50–75 in New York), which doesn’t require you to answer health questions or get an exam, along with simplified issue term life policies for people ages 18–80. There are limits to the face value of these policies, but if you elect to get a medical exam, you can qualify for a much higher death benefit. 

Factors affecting your premium include the type of policy and coverage amount you choose, your age and gender, and your health and smoking status. The estimated cost of a 20-year term life express policy with a $250,000 benefit for a 50-year-old male non-smoker is about $190 per month. You can get a quote online or speak to an agent for more detailed information.

Read our full Mutual of Omaha review for more details.

Best for Older People : Protective Life



Why We Chose It: Protective Life offers a variety of permanent life insurance policies in addition to term policies that easily convert, plus several riders that will be attractive to older folks.

What We Like
  • Easy conversions to permanent coverage from an affordable term policy

  • Guaranteed insurability rider available

  • Online claims process

What We Don't Like
  • Below average ratings with J.D. Power

  • Many complaints with the BBB

  • No online quotes for fair health customers

Protective Life was founded in 1907 and offers coverage in all states, though available products may vary. The company has an A+ financial strength rating from AM Best.

We selected Protective Life as best for older people because it offers several permanent policies up to age 85 in addition to a policy that works similarly to term coverage with the option to convert to a universal policy later on. There’s also a guaranteed insurability rider that lets policyholders purchase additional coverage at certain intervals. 

Premiums tend to be affordable as well. While online quotes aren’t available for fair health customers (you’ll need to get a quote by phone), a 50-year-old male nonsmoker in good health could get a 20-year policy with a $250,000 benefit for about $72 per month. 

It’s easy to file a claim online, and there’s a live chat feature for online customer service. However, many customers have filed complaints with the BBB over the quality of customer service provided to them. 

For more details, read our full Protective Life review

Best for Type 2 : Health IQ

Health IQ

Health IQ

Why We Chose It: Health IQ offers a unique program for people with well-managed type 2 diabetes that offers up to 41% savings for maintaining a healthy lifestyle. 

What We Like
  • Online quotes that also compare savings to the top 30 carriers

  • Savings of up to 41% for staying healthy

  • A specific plan targeted toward well-managed diabetics

What We Don't Like
  • Lengthy application process

  • Requires verification of a healthy lifestyle

Founded in 2013, Health IQ is a special insurance rate provider that works with several major life insurance providers to get you a discount on your policy for maintaining an active lifestyle. It’s our choice for best for type 2 because if your type 2 diabetes is well-managed, you may be able to get a much lower premium through Health IQ than through the provider directly. 

For example, you can save 8% for scoring well on a health literacy quiz, 9% for maintaining an active lifestyle, and an additional 24% based on other health factors. You’ll need to verify your lifestyle by running an eight-minute mile or age-based equivalent, cycling over 50 miles, or competing in a swim meet. 

Because Health IQ doesn’t write policies, it isn’t rated for customer satisfaction or financial strength, but Health IQ works with Protective Life to offer policies to diabetics. Furthermore, Health IQ has excellent customer service reviews on Trustpilot and ConsumersAdvocate.

Best for Type 1 : Assurity



Why We Chose It: Assurity is one of the only life insurance providers that doesn’t have a minimum age of diagnosis, making it ideal for type 1 diabetics.

What We Like
  • No minimum age of diagnosis

  • High ratings from AM Best and the BBB

What We Don't Like
  • No online claims

  • Few customer reviews

Assurity was founded in 1890 and offers life insurance in all states except New York. Assurity has an A- financial strength rating from AM Best. 

It’s our choice for best for type 1 because Assurity offers life insurance coverage up to $500,000 to type 1 diabetics with no minimum age of diagnosis. They provide term life, whole life, and universal life insurance policies. You also get an accelerated benefits rider at no cost, though it’s not available in CA. 

Costs vary based on your health and smoking status, weight, age, gender, and more. A 50-year-old male non-smoker living in California can get a 20-year term life insurance policy with a $250,000 benefit for about $102 per month. You can get a quote online or call an agent, but you’ll need a medical exam to get coverage. There’s also no online claims process. 

Check out our full Assurity review for more details.

Final Verdict

The best life insurance provider for you will depend on your diagnosis, how well controlled your condition is, and your overall health and age. You’ll also need to consider the type and amount of coverage you need when choosing a policy. 

While all of our best picks offer solid life insurance options for diabetics, Principal stood out because the company checked all the boxes: They offer affordable policies with a variety of options for diabetics and they have a good reputation for financial strength and customer satisfaction. 

Compare Providers

Provider Why We Chose It Price for 20-year, $250,000 policy (50-year-old male nonsmoker, average or good health) Options  Financial Strength
Principal Affordable policies & great reputation $39 Term & permanent policies A+
Nationwide Customizable whole life insurance policies with riders $79 Term & whole life policies A+
Ethos Affordable term policies with easy online quotes $73 Term & whole life policies A
Prudential Underwriting credits to help you get an affordable premium Custom quote Term & universal policies A+
Mutual of Omaha Offers policies that are easy to qualify for without a medical exam $190 Term & permanent policies A+
Protective Life Offers a convertible whole life insurance policy $72 Term, universal, and convertible policies A+
Health IQ Offers discounts for people with well-managed, type 2 diabetes Custom quote Term & permanent policies N/A
Assurity Life No minimum age of diagnosis $102 Term & permanent policies A-


What Is Life Insurance for Diabetics?

Life insurance for diabetics provides a payout to your family or other beneficiaries if you die while the policy is in effect. It can help your dependents continue to cover necessary expenses without your income. Because life insurance providers charge higher premiums to people with greater health risks, it can be difficult for people with diabetes to find an affordable policy, but it’s still possible to get the coverage you need at a good price. 

How Do I Select a Life Insurance Provider for Diabetics? 

To select the right provider for you, use our list to narrow down your options of the providers that will cover you based on your condition. Next, get life insurance quotes from each company to see who can offer you the best rate, or use an insurance comparison tool. 

Once you’ve selected the best offer for your needs and budget, it’s time to formally apply for a life insurance policy. 

Who Can Get Life Insurance for Diabetics?

Life insurance is available for people with type 1 and type 2 diabetes in any condition. If you have type 2 diabetes that is well-controlled, you may qualify for special savings. On the other hand, if your health is poor, you’ll at least be able to get a guaranteed issue life insurance policy with a higher premium and lower payout. 

What Does Life Insurance for Diabetics Cost?

The cost of life insurance for diabetics depends on individual factors such as the type of diabetes you have, when you were diagnosed, your age and gender, your family history and overall health condition, your occupation and hobbies, your smoking status, and the type of policy you choose. According to S&P Global, the average cost of life insurance is $44 per month. But if you have diabetes, you can expect to pay a higher premium for coverage. 

How We Chose the Best Life Insurance for Diabetics

We compared 25 different life insurance providers before choosing the best companies offering policies to diabetics. We considered factors such as affordability, minimum age of diagnosis, financial strength ratings, customer satisfaction ratings, and a variety of options. We also gave preference to providers with unique features that might appeal to diabetics. 

All of our top picks provided affordable and comprehensive life insurance policies to diabetics and are widely available throughout the U.S.