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Is Term Insurance Important for a Diabetic Patient?

Published On Jul 28, 2021

The skyrocketing number of diabetes patients in India is expected to increase further in the coming days. According to the experts, Indians' health is suffering due to long working hours, lack of exercise, and unhealthy eating habits. Diabetes might not be as harmful as cancer or heart diseases, but it is pretty expensive to treat. Thus, it makes perfect sense to purchase insurance early on to protect yourself from illness and financial strain. It can also lead to the reduction of treatment costs. Hence, it can be safely concluded that a term insurance policy has a significant role in a diabetic's life. Now, read on to find out about some factors that can affect your purchase of a term insurance policy if you have diabetes.

Factors That Influence the Purchase of Term Insurance for a Diabetic

When buying a term insurance coverage for diabetes patients, bear the following in mind.

1. Age of the Patient

Diabetes that was diagnosed early in life has an increased chance of being covered. Early diagnosis is defined as a diagnosis made before the age of 40. However, even if you have been diagnosed with diabetes early in life, you might be charged a higher premium because of the higher chance of your disease ravaging your health. In contrast, the later you are diagnosed with diabetes, the risk to the insurers would be smaller, and you will be more likely to obtain insurance at lower and more inexpensive rates.

2. Lifestyle

Term insurance can be obtained at reasonable prices as long as your illness has been under control for the previous 6 months through regular treatment. The manner in which you are treated might also influence the likelihood of your application being approved with lower premium rates. People with diabetes who have it under control through a healthy exercise regimen/diet or oral medicine are often seen more highly by insurance providers than diabetics who require insulin to keep it under control. Moreover, Obese diabetics with uncontrollable high blood pressure, a heart ailment, or who smoke are more likely to be denied or charged higher premium rates by insurers because they pose more considerable risks. These health issues exacerbate the situation in patients with uncontrolled diabetes.

3. Blood Sugar Level 

The HbA1c (Hemoglobin A1c) test is the most accurate way to determine how severe your diabetes is. It assesses your average blood sugar control during the previous two to three months. While A1c readings of 7 are ideal, a general level of less than 7.5 suggests that the disease is under control. Term insurance may also be available to a person with levels up to 8.5. It's also possible to factor in your usual fasting blood sugar levels. Term life insurance is usually available to those with blood pressure readings up to 180.

Why are Premium Rates Higher?

When it comes to term insurance premiums, diabetes patients are more likely to pay higher premiums than those who do not have any medical conditions. The risk determines the estimate that a diabetic applicant receives from the insurer. The factors mentioned above help determine the risk ratings. Moreover, there are distinctions between types of diabetes and premiums are calculated according to the type of diabetes the applicant has. Type 2 diabetes is regarded as the milder one between the two diabetes types. Hence, premium rates for Type 2 diabetes patients are usually lower than those for Type 1 diabetes patients.  


Depending on the insurance provider you choose, you may or may not be required to have a medical examination. However, in the proposal form provided at the time of insurance acquisition, make sure to declare your condition accurately and honestly. It must be noted that non-disclosure of your condition can lead to claim rejection of the death benefits when the time comes. 

Also read - Is Term Insurance A Good Choice For Investment?

Term Insurance Plan Without Medical Tests

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.


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