01 Jun Life Insurance For Diabetics
Life Insurance For Diabetics
If you have diabetes, you can still get life insurance coverage in the UK. Both type 1 and type 2 diabetics can find providers willing to cover them, but the cost and extent of coverage may be affected by their condition. Diabetes is considered a pre-existing condition, so insurance providers may have specific conditions for insuring those with existing health issues. However, having diabetes should not prevent you from getting the life insurance coverage you need.
This article will provide more information about life insurance for diabetics. In the UK it’s estimated that more than 4.9 million people have diabetes. 850,000 people are currently living with type 2 diabetes but not diagnosed.
Is It Possible To Get Cover With Diabetes?
We know the search for the right life insurance policy can be difficult. However, we want to help people with pre-existing conditions understand that it’s not impossible to get covered. So how would we go about it if you suffer from diabetes?
There are an estimated 422 million people living with diabetes around the world. Hence, why insurance companies have grown more understanding of this condition over time.
If you’re in and out of hospital your condition may be more severe, meaning it might be a lengthier process than someone with typical type 2 diabetes. However, we can help find life insurance for diabetics and we do all the work behind the scenes for you.
What does life insurance for diabetics cover?
Diabetes can make it more difficult to obtain life insurance, but it is not impossible. Life insurance policies for diabetics work in the same way as standard policies, paying out a lump sum to your beneficiaries upon your death. With a term life insurance policy, your beneficiaries can claim the payout if you pass away during the policy’s term. With a whole of life insurance policy, your beneficiaries are guaranteed to receive your life insurance benefit upon your death, as long as your payments are up to date.
Some term life insurance policies also include terminal illness cover, allowing you to claim on your policy if you have been diagnosed with a terminal illness or have a life expectancy of less than 12 months.
factors that companies take into account when getting insured:
- Age of diagnosis
- Medications you take (if any)
- Recent HbA1c reading
- Any existing diabetic complication like retinopathy, neuropathy and nephropathy
- Blood pressure readings
- Cholesterol readings
There are other factors that would be :
- Smokers Status
- Lifestyle (Extreme Sports Or Activities)
What information do I need to give my provider?
When applying for life insurance as a diabetic, the amount of information required by your provider can vary depending on the type of policy and underwriting method used. Some providers may only inquire about your recent medical history and current health conditions, while others may require a more comprehensive medical history.
If you have diabetes and are looking for life insurance, your provider will likely ask for your most recent HbA1c readings, which reflect your average blood sugar levels. These readings can be obtained by having your blood tested by a medical professional.
If you are a diabetic and looking for life insurance, it is crucial to be honest and transparent about your medical history. Even if you think a certain detail is insignificant, omitting or lying about it can result in your claim being denied in the future, regardless of whether or not your death is related to the undisclosed information. It’s always better to be upfront and ensure that you have the coverage you need.
How To Get Cheaper Life Insurance for diabetics?
Smoking increases the risks of the condition and makes it considerably more difficult to control. The advantages of quitting smoking are well known.
If you have diabetes and a high BMI, your life insurance premium will almost certainly be higher. The insurer will see you as less of a risk if you lose weight and get your BMI into a normal level. It can result in both a reduced premium and a higher quality of life.
Some doctors tell diabetics not to drink due to medical reasons. Even if that wasn’t the case for you, it’s a good idea to keep your alcohol consumption under check. Defined as 14 units or less each week spread out across three or more days, according to government criteria. Alcohol has an effect on blood sugar levels. Cutting back on your consumption can result in lower premiums for life insurance for diabetics.
Your diabetes poses less of a risk to insurers if you have good cardiovascular health. As a result, the premium may reduce. If you have high blood pressure or cholesterol, it’s always a good idea to consult your doctor.
Need help finding life insurance with pre-existing conditions?
Diabetics should not be discouraged from obtaining life insurance coverage due to their pre-existing condition. In fact, there are plenty of options available to diabetics to ensure they receive a good deal on life insurance. By comparing life insurance quotes through our services, individuals can find policies with valuable coverage. We work with top UK life insurance providers as well as a specialist provider who offer life cover to those with pre-existing conditions. Our process is simple and stress-free, with no obligation to purchase.