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Diabetes Type 2 Life Insurance

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Diabetes Type 2 Life Insurance

Type 2 Diabetes Life Insurance

People with Type 2 Diabetes wanting Life Insurance, Critical Illness Cover or Income Protection will usually find significant differences in underwriting from one insurance provider to another. Type 2 Diabetes life insurance is dependent on a number of health and medical factors to determine your level of risk. Our Type 2 Diabetes life insurance page looks at how your application will be assessed and what it means to the premiums you might pay.

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How It Works:

If you have been diagnosed with Type 2 Diabetes and are looking for life insurance, your application will be assessed based on a number of factors, such as:

  • Hba1c readings (within last 6 months)
  • Date diagnosed
  • Blood pressure
  • Cholesterol
  • Height / Weight (BMI)
  • What if you’re on medication
  • Any other pre-existing medical conditions

The Insurance Surgery is a leading life insurance expert for Type 2 Diabetes and other pre-existing medical conditions. Our highly skilled team of expert advisors will help to guide you to the best insurance providers to suit your medical circumstances to protect your loved family or your business.

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Most Common Questions

We answer your most frequently asked questions.

In most cases is it very possible to get covered for life insurance if you have been diagnosed with Type 2 Diabetes. Some of the main reasons why you may find it difficult to get life insurance with Type 2 Diabetes are:

  • BMI is too high
  • Being a smoker
  • Poor control (High Hba1c, Blood pressure or Cholesterol)
  • Diabetes related issues (e.g. Retinopathy, Neuropathy or Nephropathy)

Type 2 Diabetes life insurance underwriting is constantly evolving and has become much more lenient with lower premiums in recent years.

Generally there will be a loading applied to your life insurance premiums for Type 2 Diabetes because of the additional lifestyle and health risks. Life insurance premium loadings for life insurance will range from +50% (x1.5) all the way up to possible decline for much more severe cases. However, there is a chance that you may pay standard rates for your cover if your Hba1c readings over the past have been at an acceptable level (usually under 7), you have been diagnosed less than 5 years ago, and have exceptional health, other than the diabetes.

There are a handful of life insurance providers who have started to offer Critical Illness Cover for Type 2 Diabetes which is a big step forwards. Unfortunately the underwriting criteria for Critical Illness Cover and Type 2 Diabetes is still quite restrictive so can be difficult to be accepted (see below).

The Insurance Surgery will almost always recommend guaranteed premiums for Type 2 Diabetes life insurance and most other pre-existing medical conditions. If your life insurance premiums are guaranteed it means that they cannot change regardless of what happens in future to you and your health.

There are a number of behavioural, lifestyle and health improvements that can influence your life insurance premiums for Type 2 Diabetes. Some elements that can influence and reduce your life insurance premiums are:

  • Weight loss (if BMI is high)
  • Stop smoking (non-smoker after 12 months smoke free)
  • Medication
  • Control Hba1c levels (if high, or on rare occasions low)
  • Reduce blood pressure (if high, or on rare occasions low)
  • Reduce cholesterol (if high, or on rare occasions low)

Guide To Life Insurance For Type 2 Diabetes

Type 2 Diabetes Life Insurance

If you are looking for life insurance and have been diagnosed with Type 2 Diabetes then there are a number of key factors that you will need to consider. Most applications for Type 2 Diabetes life insurance will require a medical screening, GP Report or telephone medical appointment depending on severity and insurance provider. In recent years with medical advances and improvements in life insurance underwriting for Type 2 Diabetes it is now possible to be accepted online for some less severe cases.

For more severe cases of Type 2 Diabetes such as, High Hba1c levels (poor control), Smokers, High Cholesterol or Blood Pressure then you may find that there might be a bigger loading for your life insurance premiums or even declined cover.

Type 2 Diabetes Critical Illness Cover

Critical Illness Cover for Type 2 Diabetes has only become available again in the past several years and is only available through a handful of insurance providers. Some providers will offer Type 2 Diabetes critical illness cover with no medical exclusions and some will offer critical illness cover with some exclusions such as cardiovascular related conditions. Most applications for Type 2 Diabetes critical illness cover will require a medical screening, GP Report or a telephone medical appointment to support your application. Unless your diabetes is very well controlled, and you have great health (i.e. no other medical conditions) then you should expect to pay a higher premium for your Diabetes critical illness cover, moreover providers may exclude some medical conditions from your cover that Type 2 Diabetics are prone to, for example eye problems.

Some reasons why you may be declined critical illness cover with Type 2 Diabetes are:

  • Hba1c levels too high (e.g. above 8.0)
  • Diabetes complications (e.g. Retinopathy, Neuropathy or Nephropathy)
  • Smoker
  • High Blood Pressure or High Cholesterol

Currently critical illness cover and Type 2 Diabetes is available to a relatively small percentage of applications where there are no major related issues. Life Insurance providers are constantly developing underwriting criteria and The Insurance Surgery works with a number of major insurance providers to improve products / underwriting, such as for Type 2 Diabetes critical illness cover.

Type 2 Diabetes Income Protection

Income protection for Type 2 Diabetes can be obtained and we do see a small number of applications accepted, however underwriting is similar to critical illness cover. In all cases we see there is a 100% loading (2x) to the premiums and some applications are offered with medical exclusions which is also similar to critical illness cover underwriting.

Also, income protection for Type 2 Diabetes is only available for people with no Diabetes related complications (e.g. Retinopathy, Neuropathy or Nephropathy), controlled Hba1c levels (usually below 8.0) or for non-smokers.

For more information about Diabetes, visit our Diabetes Life Insurance page

To compare Travel Insurance quotes visit: Diabetes Travel Insurance

Case Studies

  • Client: Female
  • Age: 49
  • Smoker Status: Non-Smoker
  • Conditions: High BP and Polycystic Kidney Disease
  • Cover Date: March 2016
  • Product Type: Decreasing Term Assurance
  • Cover Amount: £87,500
  • Cover Term: 19 years
  • Premium: £29.45

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