Affordable Life insurance for People with Diabetes
Diabetes is a growing concern as the Canadian population ages and struggles with weight issues. I have attended and presented at a number of meetings to understand the life insurance needs of people with diabetes. It is no different from anyone else except that they feel it is either too expensive or not available. This is simply not true. Some have paid far too much to get the “guaranteed issue” policies.
You could check with your doctor or regional diabetes offices in Toronto, Ottawa, London, Vancouver, Victoria, Calgary or Edmonton or others in this link if you have questions about your diabetes and level of control or how to get it under better control.
https://www.diabetes.ca/contact/general-inquiries/ontario-regional-offices
The following table provides an estimate of what you would pay compared to someone who is in normal health without diabetes. It depends on your level of control. For reference, smoking rates are +100 or more and many smokers purchase life insurance. This table, from a major insurance company, clearly shows that many will be able to purchase life insurance for about the same as everyone else and most for less than a smoker would pay.
| General
Health |
HBA1c | FBS,
mmol/L |
Compliance | Glycosuria | Rating* |
| Excellent | <6.0 | <6.7 | Diligent | No | -25 |
| Good | 6.1-8.0 | 6.7-8.0 | Compliant | Moderate | +0 |
| Fair | 8.1-9.5 | 8.1-11.0 | Occasional lapse with treatment | Moderate | +75 |
| Poor | 9.6-11.0 | 11.1-16.8 | Frequent lapse with treatment | Heavy | +125 to
Decline |
* This assumes a nonsmoker with no other significant health issues.
If you are currently paying a significant extra for your life insurance policy or have a need for life insurance you should act now, particularly if you fall within the top two levels on this table. Do it so that there is money for your family and before your health changes.
