If you have diabetes, you might be worried that you cannot get life insurance to cover your funeral. You are not alone. Millions of seniors live with diabetes, and many of them worry about leaving their families with a large funeral bill.
The good news is that yes, you can get burial insurance with diabetes. In fact, it is one of the most common health conditions that final expense insurance companies see every day. In this guide, we will explain how burial insurance works for people with diabetes, what companies look for, and how you can get the best coverage to protect your family.
How Burial Insurance Works for Diabetics
Burial insurance (also called final expense insurance) is a small whole life insurance policy designed to pay for your funeral and other end-of-life costs.
When you apply for a traditional life insurance policy, the company usually requires a medical exam. They might take your blood, check your A1C levels, and look at your medical records. If your diabetes is not perfectly controlled, they might deny you or charge you a very high price.
Burial insurance is different. Most burial insurance policies are “simplified issue.” This means there is no medical exam required. You do not have to give blood or take a physical. Instead, you only have to answer a few simple health questions on the application.
When it comes to diabetes, insurance companies usually want to know:
- When were you diagnosed? If you were diagnosed before age 50, some companies might charge a little more.
- Do you take insulin? Taking insulin is fine, but some companies prefer if you only take pills.
- Do you have complications? Companies will ask if your diabetes has caused neuropathy, kidney disease, or amputations.
If you have Type 2 diabetes that is controlled with medication, you can usually qualify for the best rates and immediate coverage. This means your policy pays out the full amount from day one.
If you want to see what you qualify for, call now to speak with a licensed agent: 1-866-332-1427.
What This Means for You
Having diabetes does not mean you have to leave your family with a $10,000 funeral bill. You have options.
Even if you have severe complications from diabetes, such as neuropathy or kidney issues, you can still get a guaranteed issue policy. With a guaranteed issue policy, there are no health questions at all. You cannot be turned down for any health reason.
These policies usually have a two-year waiting period. This means if you pass away from a health issue during the first two years, your family will receive all the money you paid in, plus 10% interest. After two years, the policy pays the full amount.
Frequently Asked Questions (FAQ)
Will my rates go up because I have diabetes?
If your diabetes is well-controlled, you can often get the same low rates as someone without diabetes. If you have complications, your rates might be slightly higher, but your monthly payment will be locked in and will never increase.
Do I have to take a medical exam?
No. Final expense and burial insurance policies do not require a medical exam. You only have to answer a few health questions.
What if I take insulin?
Taking insulin is very common. Many top-rated insurance companies will still offer you immediate coverage at their best rates, even if you take insulin every day.
Protect Your Family Today
Do not let diabetes stop you from protecting your family. You can get affordable burial insurance today, and you do not have to take a medical exam to do it.
If you want to see what you qualify for, call now to speak with a licensed agent: 1-866-332-1427.