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I wrote a few posts ago about the challenges of finding fair rates on life insurance for type 1 diabetes and mentioned that I was currently shopping a case that I would share the results on.

Because of it’s early onset and inherently higher mortality risk with type 1 versus type 2 diabetes, underwriting is a little more critical and cautious. While someone with type 1 and a history of good control and no collateral health issues can expect to get reasonable offers, they are generally rated policies and “reasonable” has to be measured against the standard for most companies which is to decline to make an offer at all.

The client I am shopping for is 42 and was diagnosed at age 15. He has never had any collateral health issues and his most recent A1c was 7.1, reasonable control. The best offer on $500,000 of 20 year term for him came in at $1670 annually, about $146 per month. This, while certainly high if you are a completely healthy 42 year old, stacked up quite favorably against the three declines he had already experienced through other companies.

That was the best result and should lead to an approval. The other offers went steadily down hill from there with several companies offering table rates that most agents and clients never hear about. Several companies, like the ones he had already tried, declined to offer.

Bottom line. There is life insurance available for a well controlled type 1 diabetic. Make sure you use an agent that has access to a large list of companies and keep your expectations realistic.