Can I get life insurance if I’m diabetic ?
There are a number of insurance companies that specialise in diabetic life insurance. You can find many of these online and will just have to fill in a short application form to receive a quote. You will be able to obtain insurance for either a single person or jointly if one or both of the persons to be insured is diabetic.
How easy is it to get diabetics life insurance?
Obtaining life insurance if you are diabetic is not always an easy task. Make sure that you list the full extent of your diabetes and any complications on your form as not doing this could invalidate any claims that you make.
You will more then likely find that a GP’s report is required so that the insurers can check the age you were when diagnosed, treatment received and if your blood sugar levels are stable. They will also need to know if there are any other associated medical conditions.
How much will I have to pay?
Diabetic life assurance usually incurs higher premiums; therefore if you have a good medical history and keep control of your diabetes you may be able to lower these slightly. This is however not often the case. Premiums are usually higher as it has been proven that those with diabetes are more prone to health complications with the heart, feet, kidneys, eyes and nervous system.
Those with Type I diabetes will find that the overall decision will be dependent upon the age that a diagnosis was made. The younger you were when diagnosed the higher the premiums will be. Often this can be +200-300% more than a non-diabetic would pay.
With Type 2 diabetes the age is not as important. Premiums for this type will usually be are +50-100% more then for a non-diabetic.