Can I Get Life Insurance with Diabetes?
Whether you have recently found that you are diabetic or have just decided to get life insurance, you may well be wondering ‘Can I get life insurance with diabetes?’ The answer is most definitely yes but getting life insurance as a diabetic can be hard work. Most insurers increase premiums dramatically on diabetic life insurance as they only see high risks. Although diabetes is a serious condition, you can still secure a life insurance policy that is competitively priced and provides the cover you need.
Diabetes is when the amount of glucose (sugar) in the blood is too high because the body cannot use it properly. It is an increasingly common condition. In 2011, there were a total of 2.9 million people with diabetes in the UK and it is estimated that around 850,000 people have diabetes but have not been diagnosed. There are two main types of diabetes:
Type 1 diabetes occurs when the body cannot produce insulin. It usually appears in children or young adults and no-one knows exactly what causes it. Around 10% of all people with diabetes have Type 1 diabetes. It is treated by daily insulin doses, regular exercise and a healthy diet.
Type 2 diabetes occurs when the body doesn’t produce enough insulin or when the insulin produced does not work properly. It is linked to age, family history and ethnic background. People who are overweight are more likely to get Type 2 diabetes. In the UK, about 90% of all adults with diabetes have Type 2. It is treated with a healthy diet and increased physical activity.
For more information and advice on diabetes visit http://www.diabetes.org.uk/
By 2025 it is estimated that five million people in the UK will have diabetes which will have a huge impact on the insurance industry. This month researchers at Cardiff University found that the incidence of Type 2 diabetes trebled in the UK population between 1991 and 2010, but more significantly rose nearly ten-fold among under-40s. The fact that Type 2 diabetes has increased so significantly among the under-40s will also have an impact on securing diabetes life insurance.
Diabetes Life Insurance
Not all insurance companies will provide cover for a diabetic. Whether you suffer from Type 1 or Type 2 diabetes, there are serious complications that can arise if it is not properly controlled. There are also a number of risks and associated problems such as kidney failure, blindness and circulatory problems which in the worst cases can lead to amputations. The condition may worsen over time which again makes insurers increase premiums or refuse cover.
For these reasons, it is important that more is known about getting the best diabetes life insurance cover. Before offering cover, insurers will need evidence of how you manage your condition, usually through your doctor. At Your Life Protected, we can help you get all the evidence you need to satisfy the insurer so that you receive the right cover at the right price. We have the expert knowledge and experience to know the insurers that will provide the best cover and best price.