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How to Select the Best Insurance Policy if You’re Diabetic

Living with diabetes requires managing not just your health but also preparing for the future. One crucial aspect of this preparation is choosing the right life insurance policy. Life insurance, in its essence, offers financial protection to your loved ones in the event of your untimely demise. But, for diabetics, getting a life insurance policy can seem daunting. Here, we simplify the process and provide you with a step-by-step guide to selecting the best insurance policy for diabetics.

Understanding Life Insurance

Before diving into the specifics, let’s clarify the life insurance meaning. Life insurance is a contract between an individual and an insurance company, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium upon the death of the insured person. The essence of life insurance is financial security and peace of mind.

Checklist to Finalise the Best Insurance Policy

Step 1: Evaluate your needs

First and foremost, assess your financial situation and determine the coverage you need. Consider factors like your income, debts, lifestyle, and the financial needs of your dependents. A simple way to calculate this is by following the DIME formula, which stands for Debt, Income, Mortgage, and Education. 

For example, if you live in India and have a home loan of ₹50 lakhs, an annual income of ₹15 lakhs, and your child’s education cost is expected to be ₹20 lakhs, your coverage should ideally cover these expenses comprehensively.

Step 2: Research and compare policies

The Indian insurance market offers various policies tailored to different needs, including those of diabetics. Start by researching insurers who provide life insurance policies to diabetics. Then, compare these policies based on their premiums, coverage, terms, and exclusions.

Step 3: Understand the underwriting process

Insurers will consider your diabetes condition during the underwriting process. They will assess your medical history, type of diabetes (Type 1 or Type 2), control level (HbA1c levels), any related complications, and overall health. Being well-controlled and without complications can lead to more favourable terms. It’s important to be honest and provide all necessary medical documentation to avoid any issues with your policy in the future.

Step 4: Look for diabetes-specific plans

The insurance industry has evolved to recognise the specific needs of individuals with chronic conditions like diabetes. Diabetes-specific insurance plans are a testament to this evolution. These plans are designed with the diabetic individual in mind, offering life insurance coverage along with features tailored to manage and mitigate the risks associated with diabetes.

Step 5: Check for additional benefits

Choosing a life insurance policy as a diabetic involves looking for more than just financial coverage. The right policy can also support a healthier lifestyle, crucial for diabetes management. Here’s a brief overview of the valuable additional benefits to look for:

  • Wellness programmes: These programs, included in some policies, provide guidance on weight management, nutrition, and physical activity, directly supporting diabetes management and potentially reducing health complications.
  • Access to health professionals: Having access to health coaches and nutritionists through your policy can make a significant difference. They offer personalised advice on managing diabetes through diet and exercise, helping you make better health decisions.
  • Regular medical check-ups: Policies that offer regular medical check-ups help in the early detection of any diabetes-related complications. This proactive health monitoring can lead to early treatment, better health outcomes, and lower healthcare costs over time.

Step 6: Review the premiums

Premiums for diabetics are generally higher than for non-diabetics, reflecting the increased risk. However, the exact amount varies widely between insurers and depends on the control and management of your diabetes. 

For example, a 35-year-old non-smoker with well-controlled Type 2 diabetes might pay anywhere from ₹15,000 to ₹25,000 annually for a term life insurance policy with a sum assured of ₹50 lakhs, while premiums for those with less control over their condition could be significantly higher.

Step 7: Read the fine print

Before finalising your policy, carefully read the terms and conditions, focusing on the exclusions, waiting periods, and the claims process. Ensure that you understand the policy’s specifics and your obligations as the policyholder.

Features of Diabetes-Specific Insurance Plans

  • Customised coverage: Unlike standard life insurance policies, these plans offer coverage that specifically considers the complications and risks associated with diabetes. This might include coverage for hospitalisation due to diabetes-related complications, which is not typically covered under standard life insurance policies.
  • Premium adjustments: Some plans offer the possibility of premium adjustments based on the policyholder’s management of their diabetes. Effective management of diabetes through lifestyle changes and medication adherence can lead to reduced premiums over time.
  • No waiting period: Several diabetes-specific plans come with no waiting period for coverage related to diabetes, which is a significant advantage over traditional health insurance policies that might have waiting periods for pre-existing conditions.


Selecting the right life insurance policy as a diabetic in India requires careful consideration and research. By understanding your needs, comparing different policies, and choosing a plan that offers the right balance between coverage and cost, you can secure financial protection for your loved ones. Remember, managing your diabetes effectively not only contributes to your overall health but can also help you secure better terms on your life insurance policy.

Life insurance for diabetics might seem challenging at first glance, but with the right approach, it’s entirely achievable. Take the time to follow these steps, consult with insurance advisors if necessary, and make an informed decision that safeguards your family’s future while accommodating your health condition.

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