I was just denied additional life insurance I applied for through my work’s insurance plan, the reason listed was “denied due to diabetes”. Is this something that an insurance company can do? Just blanket deny everyone who is diabetic? I am 32, diagnosed at 27 and my last A1C was 5.2. I find it ridiculous that I could be denied for life insurance when I have everything under control.
Has anyone had this issue obtaining life insurance? Is there a specific carrier that doesn’t discriminate against diabetics?
If you find one that does be prepared to pay a higher price for it as it adds on a risk factor of earlier death. While we are living longer nowadays I’m pretty sure that has only come into play as some type 1 diabetics are now actually living longer.
I have no idea about what is listed in these articles or any companies affiliated with them, but it is a start at least. These seem to imply that at least you can.
When I was around 27 (before I got type 1) I was able to get a personal life insurance policy.
At work even with diabetes I was able to get a policy 2x my annual salary without health questions. If I wanted to go beyond that I had to do health questions that might result in a rejection.
At least in my case the work life insurance is only in effect while you work there. If I were to leave I would lose that life insurance.
I get junk mail all the time about life insurance. They commonly say something like only 3 questions no exam required. Diabetes is always one of the three questions. Makes you feel good that they will take anyone except us because we are too likely to die early according to their statistics.
Contact your employer HR benefits to confirm this. But as mentioned, when leave that employer, it may also deny continuation/conversion to non-employer coverage with restrictions.
I got a personal policy 18 years ago.
I went with Allstate. It’s expensive and will expire soon.
My house is paid and my daughter will be 18 right when it expires.
I was put in tier 5. But my a1c was pretty stable and my weight was good and I was 35.
Still it’s about tripple what average people pay.
At my age it makes no sense to renew
Your 32?!?!? OMG, hahahaha.
Not to laugh, but what a bunch of scoundrels.
Who’s the insurer? I want a name.
Yes, I’ve bought life insurance. I maxed it out at around $400,000.
It was cheap. I was driving really far for work under very dangerous conditions, so I felt like there was a high liklihood of death and I was gonna come out on top in that deal.
Yes, the life insurance company can deny coverage on a blanket basis. can you purchase life insurance? Yes but for what payment.
here is one such program:
Are there others? Yes. Here is an overview and a kind of primer on the topic.
I do have a Mutual of Omaha policy for a small amount, it is very expensive, about 4 times the price of my wife’s (we are the same age) for less coverage. My best suggestion, buy what you need young and hold on to it.
Unfortunately, if you have diabetes, it will be harder to you to find a company that would like to ensure your life. Still, even if you find it, it will cost you more than regular life insurance. It is their policy, and they don’t want to risk their money knowing that your life can be at risk every day. I can’t tell you, but I heard that https://squeeze.com/insurance/life-insurance offer life insurance even for people with diabetes or other diseases. If you are interested, find more information on their website.
I got life insurance 20 years ago. I bought a20 year term and I was paying triple the normal rate but I was young and decently controlled. I was paying 1800 per year for 700k.
The term was up last year and it was going to be 14k per year to renew. There was no need for it. My daughter just finished high school and our house is paid off.
It was good for peace of mind.
We used Allstate.
I have read through this thread and am surprised that no one has mentioned Survivorship insurance, also known as second to die insurance. Although this type of policy does not fit or work for everyone, the last time I checked it was a very low cost premium for a diabetic couple (only 1 has diabetes) to get a very high value policy, especially where keyman insurance is required for certain merger and acquisition transactions.
