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Type 2 Diabetes Life Insurance

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Diabetes Type 2 Life Insurance

Type 2 Diabetes Life Insurance

Taking out an insurance policy when you have Type 2 Diabetes can seem quite daunting. You will find that there are significant differences in underwriting from one insurance provider to another. This includes policies for Life Insurance, Critical Illness Cover or Income Protection. At The Insurance Surgery, we can get quotes on your behalf from all the available insurance providers so you don’t have to. 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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life insurance for diabetics type 2 - How it Works:

Life insurance applications for those with Type 2 Diabetes will be assessed based on a number of factors. These include:
  • Hba1c readings (within last 6 months)
  • Date diagnosed
  • Blood pressure
  • Cholesterol
  • Height / Weight (BMI)
  • 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. They can find the best insurance providers to suit your medical circumstances and help protect your family or your business.
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Most Common Questions

We answer your most frequently asked questions.

In most cases, it is 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:

  • Your 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, a loading is applied to 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), up to possible decline for much more severe cases. 

There is a chance that you may pay standard rates for your cover. This is if your Hba1c readings have been at a consistent acceptable level which is usually under 7. There is also a chance that you may pay standard rates if you were diagnosed less than 5 years ago. This would be the case if you have exceptional health other than 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 forward. Unfortunately, the underwriting criteria for Critical Illness Cover and Type 2 Diabetes is still quite restrictive. This means it can be difficult to be accepted (see below).

The Insurance Surgery will almost always recommend guaranteed premiums for Type 2 Diabetes life insurance. We do this for most other pre-existing medical conditions too. If your life insurance premiums are guaranteed, it means that they cannot change. Regardless of what happens in future to you and your health, you will continue to pay the same premium.

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

Life Insurance for Type 2 Diabetics

There are a number of key factors that you will need to consider when applying for a life insurance policy. Most applications for Type 2 Diabetes life insurance will require medical information. This could be a medical screening, GP Report or telephone medical appointment depending on severity and insurance provider. 

Due to medical advances in recent years, improvements in life insurance underwriting for people with Type 2 Diabetes have been made. It is now possible to be accepted online for some less severe cases.

For more severe cases of Type 2 Diabetes, there may be a larger loading fee on your life insurance premiums. There is also a chance that you may be declined cover.  This may happen if you have high Hba1c levels (poor control), are a smoker, have high cholesterol or high blood pressure.

Type 2 Diabetes Critical Illness Cover

Critical Illness Cover for Type 2 Diabetics has only become available in the past several years. It is only available through a handful of insurance providers.

Some providers will offer Type 2 Diabetes Critical Illness cover with no medical exclusions. 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 report to support your application. This could be a screening, GP Report or a telephone medical appointment.

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 for Type 2 Diabetes is available to a relatively small percentage of applications. This is where there are no major related issues. Life Insurance providers are constantly developing underwriting criteria. 

The Insurance Surgery works with a number of major insurance providers to improve products and underwriting. This includes Type 2 Diabetes Critical Illness cover.

Type 2 Diabetes Income Protection

Income Protection for Type 2 Diabetes can be obtained. We do see a small number of applications accepted, however underwriting is similar to Critical Illness cover. 

In all cases that we see, there is a 100% loading (2x) to the premiums. Some applications are offered with medical exclusions. This 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.

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

AIG – Postponed Cover