Press Releases

Life Quotes, Inc. News Release - 11/01/2017

CONTACT: Rob Goss, Executive Vice President
(630) 515-0170, ext. 460
rob@lifequotes.com

 

LifeQuotes.com: Life Insurance Rates for Diabetics Fall to All-Time Lows

DARIEN, Illinois (November 01, 2017) – LifeQuotes.com, the online life insurance price comparison service that offers instant quotes from 50 respected life insurers and allows customers to buy from any company shown, today released the results of a new life insurance survey that confirms a wide range of cost-effect life insurance plans for individuals with controlled diabetes and that rates for diabetics are at all-time lows.

According to the American Diabetes Association, nearly 30.3 million Americans or 9.4% of the population had diabetes in 2015. Another 84.1 million age 18 and older have pre-diabetes and are at risk for developing type 2 diabetes.

"These are the lowest life insurance rates we've seen in the 25 years we've been tracking such rates. We conducted a fresh survey in preparation for November in recognition of National Diabetes Month and the results show that a robust and competitive life insurance marketplace exists for individuals with diabetes who are stable and compliant with their doctor's instructions," said LifeQuotes.com founder and CEO, Robert Bland. "We hope that our findings will help individuals affected by diabetes who are also searching for the best buys in life insurance."

Assuming no other ratable health conditions, the chart below reveals the best possible monthly prices for type 2 diabetic on a 20-year, medically underwritten, level term life policy that covers death by any cause, at any time, in any place, except for suicide within the first two policy years (one year in some states). The sample 20-year term life rates shown require initial medical underwriting and are also renewable, without evidence of insurability, to age 90+ and some plans are convertible to permanent insurance without having to undergo any further underwriting.

Sample 20 Year Term Life Premiums for Type 2 Diabetics
Female Monthly Rates   Male Monthly Rates
Age $100,000 $250,000 $500,000 $1,000,000   Age $100,000 $250,000 $500,000 $1,000,000
25 $10 $21 $31 $55   25 $12 $22 $38 $67
30 $12 $23 $33 $59   30 $12 $23 $39 $70
35 $12 $23 $39 $71   35 $14 $25 $44 $80
40 $16 $29 $48 $88   40 $18 $33 $60 $113
45 $21 $40 $73 $135   45 $26 $52 $94 $180
50 $28 $51 $93 $173   50 $24 $66 $124 $237
55 $38 $73 $138 $264   55 $52 $99 $191 $360
60 $59 $120 $229 $436   60 $84 $169 $327 $621
65 $103 $217 $407 $777   65 $149 $303 $600 $1,181

Robert Goss, Executive Vice President, said, "The 20 year level term policy is our #1 seller. Other rate guarantee plans such as 10, 15, 25, 30 year and level-for-life are available at www.lifequotes.com."

All of the sample premiums shown require a signed application, a paramedical interview, a review of the applicant's medical records, and acceptance by each underwriting company. "It's clear to see that peace-of-mind coverage is available to diabetic applicants at very attractive rates," said Goss.

According to the CDC, there are two main types of diabetes: type 1 and type 2. Type 1 develops when the immune system destroys pancreatic beta cells - the only cells in the body that make insulin, a hormone that controls blood sugar. People with type 1 diabetes typically receive regular insulin via injection or pump. Type 1 diabetes usually strikes children and young adults, and accounts for around 5 percent of diabetes in the adult population.

The other 90-95% of diagnosed diabetes cases in the US adult population is of type 2, which usually starts as insulin resistance, where cells cannot use insulin properly, and eventually the pancreas loses its ability to make it.

Life insurers vary widely on how they underwrite and assess those with diabetes, which underscores the importance of shopping around and in making sure to deal with a knowledgeable agency that represents many insurers.

Instant life insurance quotes for both type 1 and type 2 diabetics are available at www.lifequotes.com. Customers can now quote anonymously and buy online in total privacy or obtain personalized service and advice from our licensed phone agents.

Survey Methodology

Life insurance policies described, quoted, shown and illustrated throughout this press release may not be available in all states. Policies examined include American Continental Insurance Company, Brentwood, TN, policy form ACIFE01732; American National Insurance Company, Galveston, TX, policy form ART 12; Banner Life Insurance Company, Urbana, MD, policy form ICC08-LIA, and William Penn Life Insurance Company, Garden City, NY, policy form LIA-WP, both Legal & General America companies; Brighthouse Life Insurance Company of Charlotte, NC, policy form 5E-21-04 and Brighthouse Life Insurance Company of NY of New York, NY, policy form 1E-23-12-NY, both a part of Brighthouse Financial. Lincoln Life & Annuity Insurance Company of New York, Syracuse, NY, policy form LEF06321-18_7-10, and The Lincoln National Life Insurance Company, Fort Wayne, IN, policy form LEF06321_5-12, both insurance company affiliates of Lincoln National Corporation, whose marketing name is Lincoln Financial Group; John Hancock Life Insurance Company (U.S.A) of Boston, MA 02117, on policy form number ICC16 2016TERM and John Hancock Life Insurance Company of New York, Valhalla, NY 10595, Pacific Life Insurance Company of Newport Beach, CA, policy form P16YLT. North American Company for Life & Health Insurance, Chicago, IL, policy form LS174; Protective Life and Annuity, Birmingham, AL, policy form TI-15; Pruco Life Insurance Company of New Jersey, Newark, NJ, policy form ORD 96200-2010, member companies of Prudential Financial, Inc., Newark, NJ; The Savings Bank Mutual Life Insurance Company of Massachusetts, Woburn, MA, policy form A91-OSV (SBLI and The No Nonsense Life Insurance Company are registered trademarks of The Savings Bank Mutual Life Insurance Company of Massachusetts; Transamerica Financial Life Insurance Company, Harrison, NY, policy form 3-304 38-111 and Transamerica Life Insurance Company, Cedar Rapids, IA, policy form 1-304 11-107, both AEGON companies; United Farm Family Life Insurance Company, Indianapolis, IN policy forms 18-376, 18-466; United Home Life Insurance Company, Indianapolis, IN policy forms 200-379, 200-466. United of Omaha Life Insurance Company, Omaha, NE, policy form LAP1099, a Mutual of Omaha affiliate company.

About Life Quotes, Inc.

Privately-held LifeQuotes.com operates an Internet-based insurance exchange for consumers at www.lifequotes.com. The company's proprietary technology provides instant quotes and illustrations from 50 leading life insurers and enables a quick, paperless purchase process. Life Quotes also provides quotes for auto, home, disability and Medicare supplement plans. The company also provides co-branded life insurance technology and fulfillment services to insurance companies, financial institutions, banks, credit unions, property & casualty agencies, trade associations and other affinity groups with large customer bases. More than 345,000 people have purchased policies through LifeQuotes.com since the firm's founding in 1984. Visit www.lifequotes.com for more information or to experience the life insurance quoting experience online.

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