T1 diabetes and life insurance?

PurpleSky11

Hi all,

I'm wondering if people with long term illnesses (especially type 1 diabetes ) may be able to help me.

I'm a type 1 diabetic, 38 years old female and have a small child. A few days ago I read the article on here about life insurance and being that I'm the main earner in my little family, I really want to make sure that if the worst happened, my son and my pear er would be ok and most importantly be able to stay in the house etc.

I followed some of the links to insurance brokers listed on this site and even though I always ticked the 'pre existing illness' box and got a list of insurers, once on the insurers own form, I'm knocked back - I presume because of my diabetes, or possibly because there's usually a section about family members who've had a heart attack and yes my dad did have a heart attack under 60, but it was because he was a heavy smoker and he's been healthy for more than 15 years since, although other than the heart attack tick box I wasn't asked more details than that!

So... My question is, do any of you know good reliable insurance companies that are sympathetic to diabetics?

I am fully aware that I'll likely pay a slightly higher premium, but since becoming a mum I think that's worth it for the peace of mind in knowing my child will be financially secure if I ever have to leave this world before I'm done bringing him up!

Any advice most welcome,

Thankyou

fira

Hi PurpleSky

I'm also type 1 and for years I've used Diabetes UK's insurance services but for travel only. I've been able to get great rates and cover. Just checked the charity's site and they also offer life insurance. The page to look at is below ( also have a look at the two links showing there. The first is 'Life Insurance - Frequently Asked Questions' and the second allows you to download the quote application form to read through.

http://www.diabetes.org.uk/How_we_help/Financial_services/Life-assurance-/

Bill

jeffnail

There are a few insurance companies that will offer life cover with an extra premium. Trying to get critical illness may be a lot harder and perhaps unavailable but pure death cover can be done with several companies - As you have already mentioned the premiums will be 'Loaded' maybe by +100% or more .

But do try a local protection adviser and he will get some quotes from several companies

weighty1_2

Hi PurpleSky,

I'm a type 1 diabetic myself and an insurance broker so know exactly how difficult it can be to arrange cover. In regards to critical illness cover it is pretty much a no go, unfortunately.

For life cover the insurers look at 2 main factors, the number of years since diagnosis and your HbA1c readings. Your family history can have an impact, however, it is unlikely to be too significant if only 1 of your immediate family has had a heart attack before age 60.

In regards to the premium, don't think you will only pay a slightly higher premium, the increase will be significant. For example, I was only diagnosed with type 1 at age 38 so have only had 1 one year and my HbA1c reading is around 42 (on the new scale) so is very well controlled. I'm not overweight and don't have a significant family history. The lowest increase over the standard premiums was 100% when I recently arranged some new cover for myself.

If you've had the diabetes over 10-years then the premium increase could easily be triple the normal premiums.

As has been mentioned above, try and find a specialist provider who is used to dealing with more unusual cases and is completely independent.