Final Expense Insurance for People with Diabetes

final expense insurance is available if you have diabetes

Written by Kim Wilhelm

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Last Updated 01 Mar 2024

More than 30 million Americans have diabetes. If you have a pre existing health condition like diabetes, it can be more challenging to get life insurance coverage.

What Is Diabetes?

Diabetes is a condition where the body doesn't correctly process food to be used as energy. Most food we eat is turned into glucose or sugar for our bodies to get energy. An organ behind the stomach (pancreas) produces a hormone (insulin) to help glucose enter our bodies' cells.    

Type 2 Diabetes Is Most Common

Most folks with diabetes have Type 2 Diabetes. Also called adult-onset diabetes, it’s a condition where the body doesn't generate enough insulin.  

Diabetes can be managed with routine insulin shots and/or instruction from a doctor.

You Pose a Risk to Insurers, But There Is Hope

Applicants with pre-existing conditions present a financial risk to insurers. They may have to pay out benefits sooner without having the protection of increased premiums.  

If you have diabetes and need life insurance as a senior, you might be denied, required to pay higher premiums, or suffer waiting periods before a policy takes effect. However, there is hope. 

Final Expense Policies Have Built-In Provisions

Final expense insurance, a life insurance product, has policies with basic rules for consumers with diabetes. If you understand the process, you can apply and get approved for coverage through a final expense policy. It might not be your prime choice for coverage, but it’s the insurance you need. 

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More on Final Expense Insurance

The average final expense policy can vary from between $5,000 to $100,000. You might need to apply for a $50,000 policy, or more, because of your condition. 

Final expense insurance accommodates older folks with fixed incomes and pre-existing health issues — who can’t be approved for life insurance.    

Best Life Insurance Companies for Diabetes

  1. Prosperity Life Insurance - Best with Diabetes plus other conditions
  2. Independent American - Best if new to Diabetes
  3. Mutual of Omaha - Best with uncontrolled sugar
  4. Liberty Bankers - Best if you had Diabetes 20 plus years
  5. Baltimore Life - Best for Diabetes with pills

* The "best company" depends on other health factors as well as age, state of residency, and coverage desired.  For your best chance to be approved with low rates, speak to one of our experienced insurance professionals.  

To get started, click here for a quote now.

It’s essentially a last-resort option that people use to pay all of their final expenses, such as funeral costs. Any named beneficiary should be tasked with paying and organizing all of your final expenses.

How Much Does Final Expense Insurance Cost?

Policyholders typically pay between $50 and $150 per month for final expense insurance. It will depend on how severe your diabetes is, how often you take insulin, and how often you visit the hospital. 

Your premium should be fairly cheap as long as your condition is manageable. You can apply for a policy over the phone.  

Waiting Periods

“Graded death benefits” is a special way of saying waiting period. If you’re approved for a final expense policy with diabetes, some carriers may require you to wait for two years before the plan takes full effect. In that time, you keep paying premiums. If you pass away during the waiting period, your beneficiary doesn’t get anything, and there will be $0 to cover your final expense.  

An agent at Final Expense Direct can help you find a company with “first-day coverage,” which means there’s no waiting period. Or, we can find you insurance that offers partial benefits during a waiting period. It’s better to deal with partial benefits than to have no benefits for 24 months.

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Insurance Companies Who Can Help

Many burial insurance carriers can offer coverage to those with Type 1 and/or Type 2 diabetes. Your premium will vary, depending on how manageable your condition is. Most insurers offer policies between $10,000 and $100,000, and most have no waiting period during the first two years of coverage. These carriers include:

  • Foresters 
  • Prosperity 
  • Mutual of Omaha
  • Liberty Bankers Life 
  • And more

Apply for Final Expense Life Insurance 

Final expense insurance is available if you have diabetes. At Final Expense Direct, we’ll consider your needs and budget while finding the best, most affordable protection. You can apply right over the phone, so call 1 (877) 674-0236 today. 


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