Life Insurance and Diabetes

Lukeedwards88 · 14 February 2018 at 12:25PM

Hi All,

I am really struggling to find cover for myself.

Been rejected from about 4/5 so far. I am also on a waiting list for an Endoscopy for potential reflux issues.

So my question is two-fold?

1. Any suggested insurers who will cover T1 diabetics
2. Shall I wait for my latest medical tests before applying for cover to reduce premiums?

Thanks

Luke

Quentin · 14 February 2018 at 12:34PM

Try the diabetes.co.uk website

ACG · 14 February 2018 at 12:48PM

I used to work as an account manager for a life office. There was a broker who tended to specialise in helping those with diabetes and other health issues. For the life of me I can not remember their name.
They were based in Macclesfield/Stockport way.

Weighty1 · 14 February 2018 at 2:21PM

There are plenty of insurers who will cover T1 diabetics, depending on when you were diagsosed, your HbA1c reading and whether you have had any complications arising.

The outstanding investigations could be the bigger issue here. Insurers don't like underwriting on unknown factors so until it is confirmed that you have reflux and nothing more sinister I think you'll struggle obtaining terms.

csgohan4 · 14 February 2018 at 2:52PM

the insurers may also load your premiums up as well, more so if your diabetes is not under control

Lukeedwards88 · 14 February 2018 at 5:39PM

Weighty1 wrote: »

There are plenty of insurers who will cover T1 diabetics, depending on when you were diagsosed, your HbA1c reading and whether you have had any complications arising.

The outstanding investigations could be the bigger issue here. Insurers don't like underwriting on unknown factors so until it is confirmed that you have reflux and nothing more sinister I think you'll struggle obtaining terms.

The speciailist has said its reflux but needs an endoscopy to confirm, so I think its better leaving it till that's been resolved but try and see if I can find something

Weighty1 · 14 February 2018 at 6:57PM

Lukeedwards88 wrote: »

The speciailist has said its reflux but needs an endoscopy to confirm, so I think its better leaving it till that's been resolved but try and see if I can find something

In the previous applications were you specifically declined or was cover postponed until the outcome of the endoscopy was known?
If it was the former then the chances are that it IS something diabetes related causing the issue,it's just the outstanding investigation won't be helping.

I'm T1 diabetic myself and have dealt with loads of clients with both T1 and T2 diabetes. T1 diabetics are normally harder to cover due to the length of time since diagnosis when they normally start looking to arrange life cover. Premiums increases for diabetics are based on the type (1 or 2) the applicants HbA1c reading and time since diagnosis. Providers don't like the HbA1c being over 10 (in the old scale) and will generally decline immediately for this. Also, if you'd have the T1 for more than 20+ years then it can make it difficult, but not impossible for providers to offer cover. If it's a combination of long standing diabetes and a high HbA1c reading then this compounds the matter.

Obviously, not really want you'll be wanting to hear but it's just being realistic

Freddie_Allen · 15 February 2018 at 10:55AM

I got my father insured with Aegon Life Insurance which covers T1 and T2 as well.

Lukeedwards88 · 15 February 2018 at 2:22PM

Weighty1 wrote: »

In the previous applications were you specifically declined or was cover postponed until the outcome of the endoscopy was known?
If it was the former then the chances are that it IS something diabetes related causing the issue,it's just the outstanding investigation won't be helping.

I'm T1 diabetic myself and have dealt with loads of clients with both T1 and T2 diabetes. T1 diabetics are normally harder to cover due to the length of time since diagnosis when they normally start looking to arrange life cover. Premiums increases for diabetics are based on the type (1 or 2) the applicants HbA1c reading and time since diagnosis. Providers don't like the HbA1c being over 10 (in the old scale) and will generally decline immediately for this. Also, if you'd have the T1 for more than 20+ years then it can make it difficult, but not impossible for providers to offer cover. If it's a combination of long standing diabetes and a high HbA1c reading then this compounds the matter.

Obviously, not really want you'll be wanting to hear but it's just being realistic

Just had a basic message saying I could not be covered (probably because I was looking for critical illness as well)

Lukeedwards88 · 15 February 2018 at 2:24PM

Freddie_Allen wrote: »

I got my father insured with Aegon Life Insurance which covers T1 and T2 as well.

Thanks I have seen that they are supposed to be good for Diabetes. I have found two brokers who specilase in this area who are looking at the moment.

Weighty1 · 15 February 2018 at 3:18PM

Lukeedwards88 wrote: »

Just had a basic message saying I could not be covered (probably because I was looking for critical illness as well)

As far as I'm aware no mainstream provider offer critical illness to people with T1 diabetes. Friends Provident and then Friends Life used to offer it for diabetic but only T2 ones and even then it excluded all heart related conditions, stroke, kidney failure, blindness, loss of limbs. It became almost like cover just for cancer and MS so many other things were excluded.

It might be worthwhile these brokers looking at long term income protection options instead as there's at least one provider who can offer this.

Life Insurance and Diabetes

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