Can Seniors With Diabetes Buy Life Insurance?

If you suffer from diabetes, life insurance is still an option for you. You can find a good health life insurance policy by comparing quotes or by discussing with a professional insurance broker. A plan can financially secure your loved ones and it can solve urgent expenses such as funeral.

diabetes2In recent years, the insurance market has changed and agencies have lowered their eligibility standards so that more clients could qualify. It is now very likely to find coverage if you have diabetes. Of course, very much depends on your medical condition and the seriousness of your disease.

                Plans that do not require medical examinations

An easy and quick way of getting coverage if you have diabetes is by applying for a life insurance plan that does not require medical examinations. There are two types of policies in this category:

  • Simplified issue. This plan provides temporary coverage of a maximum value of $300,000. You can qualify for this policy by completing a medical questionnaire. The agency will also check your medical history.
  • Final expense insurance. Although this policy is permanent, you cannot purchase a higher coverage than $50,000. The advantage is that you will qualify almost instantly for coverage as the whole application process consists of just four questions. Final expense insurance will insure senior citizens who are not older than 90 years.

Traditional plans

Traditional life insurance plans like term, whole or universal life insurance, have a more complicated application and underwriting process. However, their rates are better and they provide higher insurance values.

With proper professional help, you can easily qualify for a temporary policy. There are many agencies that will underwrite diabetes patients, if their situation is not terminal. You will have to provide several medical documents to help your case.

We recommend finding a good insurance broker. Our website can help you find life insurance plans that provide coverage for someone who has diabetes. Also, you can contact our online insurance brokers.

As you can see, there are several possibilities of finding affordable life insurance if you have diabetes. Visit us for quotes and more information.