Life Insurance for Diabetics

Since 1996, the amount of people living in the UK with diabetes has risen to 2.9 million. By 2025 it is believed that there will be over 5 million diabetics living in the UK1. This is mainly due to improved medical advancements being able to detect and identify the condition sooner which is more often than not due to increased obesity and an aging population as people are living a lot longer than they used to. Diabetes is a long term condition and can affect your life; however it is a liveable condition and many people can continue to live their lives without problems. Diabetes is normally found in two groups; type 1 (this is when there is no insulin being produced by the pancreas; this is the hormone that regulates blood glucose levels in the body. If these levels are not regulated and the amount of glucose in the body is too high, it can seriously damage the internal organs. The other is type two (there is not enough insulin being produced in the body or the insulin is there but not aiding the body to work properly). 


Avoiding complications with Diabetic Life Cover

When it comes to taking out life insurance there are a number of factors that you have to take into consideration. If you have had diabetes for a considerable amount of time or your blood sugar levels or your hba1c level is too high, then mainstream insurance companies will be reluctant to insure you. 

Another factor that may stop you from getting life cover is if you are a smoking diabetic, although it is not impossible, it does make it harder. In many cases where there is another cardio vascular risk such as heart attack or stroke and you are a smoker, it would previously have been impossible for you to get life insurance. The good news is there are insurance companies out there that are diabetes experts who would be willing to offer you an insurance policy, subject to a report from your doctor. 

Even with the best control, the insurance companies may decide to increase your policy premiums from the quotes that you may find online. All insurance companies are different and will judge your medical history and lifestyle differently to another insurance company it is vital that you disclose all information when speaking to your Proadvice adviser. This will help the Proadvice adviser to find the correct insurance company to place your life insurance with based on the information you have disclosed to them.

Can I get Critical Illness cover if I suffer with Diabetes?

The answer is yes, you are able to take out a critical illness cover plan if you suffer with diabetes. There is a specialist insurance company who can offer critical illness cover to diabetes sufferers; however the plan is very different from that of a normal critical illness plan. As well as diabetes, many associated illnesses are excluded from critical illness cover, for example, heart attack and stroke are not included in the cover. However the most common condition, cancer is still covered in the plan as is a brain tumour, Alzheimer’s disease and Multiple Sclerosis. With the critical illness plan there is no increase in the premiums due to the diabetes, in fact the cost of the plan actually reduces due to the exclusions put in because of the diabetes.

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