Term Insurance for Diabetic Patients in India

Diabetes is a long-term condition where high blood sugar levels can cause serious harm to vital organs. Due to genetic factors and modern lifestyle changes, diabetes is becoming increasingly common, even among younger people. With over 77 million people diagnosed with diabetes and another 700 million at risk, the condition has become a significant health concern.
Living with diabetes doesn't mean you can't protect your loved ones financially. Term insurance can be a crucial safety net for individuals managing diabetes in India.
This comprehensive guide will walk you through everything you need to know about securing a term insurance plan, understanding the challenges, and finding the right coverage to safeguard your family's future.
Table of Contents
What is Term Insurance For Diabetics?
Diabetic individuals should consider term insurance to protect their family's financial future. These plans provide a death benefit to your loved ones if something happens to you during the policy term. The payout can help cover expenses like rent, children's education, loans, and medical emergencies.
Additionally, term insurance plans for diabetics come with affordable premiums and offer tax benefits on both the premiums paid and the benefits received by your family. Plus, having such a plan encourages you to maintain your health over time.
Key Insights into Term Insurance for Diabetics
How Does Term Insurance for Diabetic Patients Work?
Term insurance for diabetic patients operates similarly to standard term insurance but with some specific considerations due to the health condition:
Application Process
Diabetic patients must provide detailed medical information, including the type of diabetes, age of diagnosis, current treatment methods, and recent HbA1c levels.
Premium Calculation
The premiums for diabetic patients are typically higher than for non-diabetics. Factors influencing the premium include the type of diabetes, how well it is managed, age, overall health, and any additional health complications.
Policy Issuance
The policy is issued once the application is reviewed and approved.
Coverage
The policy provides a death benefit to the beneficiaries if the insured passes away during the term
Add-On Riders
Diabetic patients can enhance their coverage with riders such as critical illness, accidental death, or waiver of premium. These riders offer additional financial protection.
An Illustration on Term Insurance for Diabetic Patients
An Illustration on Term Insurance for Diabetic Patients
Raj, a 45-year-old software engineer, was diagnosed with Type 2 diabetes five years ago. He applies for a ₹1 crore term insurance plan for 20 years to secure his family's financial future. As part of the application process, Raj undergoes a medical examination.
The insurer reviews his HbA1c test results, which show his average blood glucose levels over the past three months, which works in his favour. He opts for a critical illness rider, which provides additional coverage if he is diagnosed with a serious illness related to his diabetes. Raj is offered a reasonable premium rate.
Scenario 1: Death During the Policy Term
If Raj passes away unexpectedly during the policy term due to a complication related to his diabetes. His family contacts the insurance company to file a claim and pays the death benefit to the beneficiary.
Scenario 2: Outliving the Policy Term
Raj continues to manage his diabetes well and outlives the policy term of 20 years. He remains healthy and active, the coverage ends, and no death benefit is paid out.
How Different Types of Diabetes Affect Term Insurance
There are three main types of diabetes, each impacting term insurance differently based on their severity:
Type 1 Diabetes
This type usually develops at a young age and is challenging to manage. Due to the higher risk associated with Type 1 diabetes, the premiums for term insurance are generally higher.
Type 2 Diabetes
Typically occurring later in life, Type 2 diabetes is easier to control and has less time to affect the body. Consequently, the premiums for term insurance are usually lower. However, if insulin is required for management, the premiums may increase.
Gestational Diabetes
This type occurs during pregnancy due to hormonal changes. It's advisable to wait until after childbirth to see if the condition resolves. If it does, you can obtain term insurance at lower premium rates.
Why Term Insurance is Important for Diabetic Patients?

Why Term Insurance is Important for Diabetic Patients?
Insurance for diabetic patients is crucial due to the unpredictable medical conditions that can arise, significantly impacting the insured's family. Here are some key reasons why diabetes insurance is important:
Family's Financial Stability
A term insurance policy can provide a lump sum benefit to the family if the insured person passes away. This financial protection is especially vital if the insured is the primary earner, helping to alleviate the family's financial burden.
Add-On Riders
Term life insurance policies offer various add-on riders that can enhance coverage. For example, a critical illness rider provides additional funds if the insured is diagnosed with a critical illness during the policy term, helping to cover medical expenses.
Read More
Types of Term Insurance Plans for Diabetic Patients
There are several types of term insurance plans available for diabetic patients, each catering to different needs and circumstances:
Standard Term Insurance
It is the most basic form of life insurance. It provides coverage for a specified period, and the premium rates remain fixed throughout the policy's duration. For diabetic patients, standard term insurance can offer peace of mind, knowing their loved ones will receive a financial benefit if something unexpected happens.
Level Term Insurance
Level Term Insurance provides a consistent sum assured for the entire duration of the policy. This means the coverage amount remains unchanged regardless of when a claim is made within the policy term. For those managing diabetes, having a level of term insurance can contribute to long-term financial stability, ensuring that their family is protected against unforeseen financial burdens related to their health.
Increasing Term Insurance
Increasing Term Insurance is designed to offer growing coverage over time. As the policy progresses, the sum assured increases, which can be particularly beneficial in combating inflation and ensuring that financial protection keeps pace with rising costs. This type of insurance can reassure diabetic patients by adapting to their changing financial needs.
Convertible Term Insurance
Convertible Term Insurance offers the flexibility to convert the term policy into a future whole life insurance or endowment plan. This option is valuable for individuals who appreciate the ability to adjust their insurance coverage as their life circumstances change. Diabetic patients can start with a more affordable term policy and transition to a more comprehensive plan when their health or financial needs evolve.
Features and Benefits of Term Insurance for Diabetics
Term insurance can be an essential financial tool for diabetics, providing protection and peace of mind. Here are some key features and benefits:
Flexibility in Tenure
Term insurance policies offer various tenure options, allowing individuals to choose a period that aligns with their financial goals and family needs.
Guaranteed Death Benefit
If the policyholder dies during the term, the beneficiaries receive a guaranteed payout, ensuring financial security for loved ones.
Specific Coverage Options
Several insurers provide plans specifically tailored for individuals with pre-existing conditions, including diabetes, accommodating their unique health profiles.

Renewal Options
Most term policies can be renewed after the initial term, offering continued protection without requiring a fresh medical examination in certain cases.
Affordable Premiums
Term insurance typically has lower premiums than whole life insurance, making it a more economical choice for coverage.
Financial Security for Dependents
Provides a safety net for family members in case of the policyholder’s unexpected passing, ensuring their financial needs are met.
No Cash Value Component
Unlike whole life insurance policies, term insurance does not accumulate cash value, which can benefit those seeking straightforward, purpose-driven coverage.
Customisation Options
Many insurers allow riders for critical illnesses or accidental death, which can be beneficial for managing health risks associated with diabetes.
Encouragement for Healthy Living
Having a term insurance policy can motivate diabetics to maintain a healthier lifestyle, as their health will impact both their policy premiums and overall well-being.
Eligibility Criteria for Term Insurance for Diabetics
If you have diabetes and are looking for term insurance, there are several factors that insurers typically consider to determine your eligibility and premium rates:
Document Required for Diabetes in Term Insurance
Proof of Identity
Proof of Address
Proof of Birth Certificate
Proof of Income
Medical Reports
Photographs
Which Medical Tests are Required for Diabetics Term Insurance?
1. Blood Glucose Test
This measures blood sugar levels to determine how well your diabetes is controlled.2. HbA1c Test
This test provides an average blood sugar level over the past 2 to 3 months, offering insight into your long-term glucose control.3. Lipid Profile
This test checks your cholesterol levels to assess your risk of cardiovascular disease, as diabetes can increase these risks.4. Kidney Function Tests
Since diabetes can affect kidney health, tests like serum creatinine can help evaluate how well your kidneys are functioning.5. Liver Function Tests
To assess the overall health of your liver, which can be affected by diabetes and its treatments.6. Urine Test
A urinalysis may be conducted to check for any signs of kidney damage or other potential diabetes-related issues.7. Blood Pressure Measurement
High blood pressure is common in diabetics, so this measurement is usually a standard part of the assessment.8. Electrocardiogram (ECG)
Some insurers may request an ECG to evaluate heart health, especially if you have any history of heart-related issues.How to Buy the Best Term Insurance for Diabetics?
Follow these simple steps to purchase a term plan for diabetic patients in India:
Step 1
Start by comparing the term insurance page for diabetics.
Step 2
Provide your name, gender, contact details, and date of birth.
Step 3
Fill in your occupation, annual income, smoking habits, and educational qualifications.
Step 4
Choose the term plan and proceed with the payment.
Factors to Consider When Buying Term Insurance for Diabetics
When purchasing term life insurance, individuals with diabetes should take into account several important factors related to their health:
Easy Approval if Diabetes is Controlled
Whether you have Type 1 or Type 2 diabetes, you can obtain term insurance if your condition has been stable for the past six months. The method of managing your diabetes also affects your chances of getting a policy with lower premiums. Insurers favour those who control their diabetes through a healthy diet, exercise, or oral medication over those who require insulin.
Other Health Complications or Risks
Diabetics who are obese, have uncontrolled high blood pressure, heart conditions, or smoke are at higher risk. These factors can lead to higher premiums or even rejection, especially if diabetes is not well-managed.
Age of Diagnosis
Being diagnosed with diabetes before age 40 increases the risk of health complications, leading to higher premiums. A later diagnosis generally means lower risk and more affordable premiums.
Type of Diabetes
People with Type 2 diabetes, which is often age-related and manageable with oral medication, usually receive lower insurance quotes compared to those with Type 1 diabetes, which requires stricter medical supervision.
Blood Sugar Levels
The HbA1c test measures average blood sugar levels over the past 2-3 months. Levels below 7.5 indicate good control, making it easier to get insurance. Even levels up to 8.5 may still qualify for term insurance. Fasting blood sugar levels up to 180 is generally acceptable for obtaining a policy.
Pre-Medical Screening
Undergoing a pre-medical screening helps determine your exact health status, which is essential for setting appropriate coverage and premiums to maximise benefits.
Common Challenges and Solutions for Term Insurance with Diabetes
Challenge 1: High Premium Rates
High premium rates can be a major obstacle for individuals looking to secure insurance coverage, especially for those with chronic conditions like diabetes. Maintain your blood sugar levels within the recommended range and ensure that you have thorough medical documentation to prove your efforts.Challenge 2: Limited Coverage
Many insurance policies may offer limited coverage for diabetes-related needs, leaving individuals unprotected. To overcome this challenge, it's wise to look for insurers that provide specialised plans tailored specifically for diabetes management. These plans often include additional benefits and services to support individuals with chronic conditions.Challenge 3: Policy Rejection
Facing a policy rejection can be frustrating and discouraging, especially when securing necessary coverage. To improve your chances of acceptance, consider working with specialised insurance advisors who have experience navigating the complexities of health insurance for individuals with diabetes. They can provide valuable insights and strategies to enhance overall health management, which is crucial in building a stronger application.Tax Benefits of Term Insurance for Diabetic Person
Diabetics purchasing term insurance in India can avail of tax benefits under the Income Tax Act 1961. Here are the key benefits:
Term insurance is crucial for individuals with diabetes as it ensures their families are financially protected in case of their untimely death. Given their health condition, this type of insurance offers peace of mind. Additionally, term insurance policies often come with flexible features and optional add-ons to increase financial benefits.
The cost and coverage of these policies depend on various factors, including the type of diabetes, age, and overall health. Therefore, it's essential to compare different policies to find the best one that meets your needs.
FAQs about Term Insurance for Diabetics
What is term insurance for diabetics?
Can individuals with diabetes get term insurance in India?
How do insurers assess diabetics when applying for term insurance?
What medical tests are required for diabetics seeking term insurance?
Are premiums higher for diabetics than for non-diabetics?
What factors influence the cost of term insurance for diabetics?
What is the difference between Type 1 and Type 2 diabetes in terms of insurance eligibility?
Can diabetics reduce their term insurance premiums?
Are there special term insurance plans for diabetics?
What documents are required for diabetics applying for term insurance?
How does maintaining healthy HbA1c levels affect term insurance eligibility?
What are the common challenges diabetics face when applying for term insurance?
What is the importance of disclosing medical history when applying for term insurance?
How can diabetics improve their chances of getting term insurance approval?
Other Important Articles Related to Term Insurance
Latest News
Read More