Medical developments in the field of diabetes has given people the medication to live a normal life, whilst dietary control is also required, most people with diabetes shouldn’t experience a reduced quality of life.
There are of course complications from the disorder which can be impactful such as conditions affecting eyes and feet, however most people with diabetes report a long and full life.
Therefore, why should life insurance companies not provide you with cover? The answer is that many life insurance providers do offer life insurance for diabetics.
Most diabetics with life insurance do report a slightly higher premium rate, but perhaps the cost isn’t as high as you think.
QQL find competative life insurance rates for diabetic clients regularly. Speak to one of our advisors and see what they can find you, our number is free phone and our service is obligation free.
There are a lot of questions on a life insurance application. It’s important that you are completely honest or the insurance provider could retain the right to deny your pay out to your family.
The specific type of questions that diabetics will be asked are;
You will also be asked some additional questions about your health that are standard to any application such as whether you are a smoker or non smoker.
If you manage your condition well and have no major complications, alongside a healthy BMI and non smoker status then you could be looking at very reasonable premiums.
Don’t worry if you do have complications and are perhaps not the healthiest individual on the planet. Life insurance companies recognise that not every one is perfect and a lot of people do still manage to find cover. Just remember that lying won’t help, no matter how tempting it is.
Why do they need to know my most recent HbA1c reading?
As you will already know, your HbA1c is your average blood glucose levels, otherwise known as your blood sugar levels, for the last three months. The higher the HbA1c number, the higher your health risk and insurers will take this into account when deciding your cover and how much you will pay on your premiums.
I’ve tried applying before but was denied, should I bother trying again?
Certainly, if your health statistics have improved steadily since the last time you tried then it is worthwhile applying again. Sometimes life insurance companies will take into account that you have been denied life insurance in the past but many will look at your current health and not focus on historical applications.
Shall I wait until I have healthier blood sugar levels, BMI reading and have quit smoking?
There is an argument for and against this. On one hand, waiting for your health to improve can also improve your chances of being approved for life insurance and will keep your premiums down. On the other hand, everyone sets out with the best intentions but often major lifestyle choices don’t happen overnight and are rarely stuck to. In that space of time anything could happen and it might be better to have to cover from the start and focus on improving your health whilst holding a life insurance policy.
There are policies that allow you to review your medical status and alter your premiums in accordance. They are policies especially designed for people with pre-existing medical conditions and can be a great option for diabetics. The Exeter plan specifically provides life insurance for diabetes type two. Call one of our advisors today on our free phone number to find the best life insurance for diabetics.