Life Insurance and Protection Cover

[JamieDiabeticfor30+years]

Hi everyone,

I'm a type 1 diabetic of 32 years using a Medtronic 780g pump and have ok (ish) levels over the years HbA1C of 45 at my last one last august. I've been a financial adviser (as a specialist protection adviser) for a few years now specialising in life cover, critical cover, income protection etc... I know that this sounds a little like a sales thing, but genuinely have come across a lot of diabetics recently who have been fed incorrect information regarding what can be done for diabetics regarding life insurance, critical cover protection of income.

I just wanted to ask people in general, have they been told they can't get cover or have been put off getting stuff sorted due to diagnosis of diabetes?

I'm wanting to make sure that diabetics aren't being fed incorrect info as based on the last few diabetics I've spoken to it seems that this is not correct.

Many thanks,

Jamie

 

[Anna DUK]

It's a shame so many have been told they're not able to get cover. Here at Diabetes UK, we have the following webpage to support people who are looking to take out different types of insurance policies. Here's the page in case you haven't seen it: https://www.diabetes.org.uk/how_we_help/financial_services/life-insurance

Well done on such a great HbA1c!

 

[KateAhern]

Hi everyone,

I'm a type 1 diabetic of 32 years using a Medtronic 780g pump and have ok (ish) levels over the years HbA1C of 45 at my last one last august. I've been a financial adviser (as a specialist protection adviser) for a few years now specialising in life cover, critical cover, income protection etc... I know that this sounds a little like a sales thing, but genuinely have come across a lot of diabetics recently who have been fed incorrect information regarding what can be done for diabetics regarding life insurance, critical cover protection of income.

I just wanted to ask people in general, have they been told they can't get cover or have been put off getting stuff sorted due to diagnosis of diabetes?

I'm wanting to make sure that diabetics aren't being fed incorrect info as based on the last few diabetics I've spoken to it seems that this is not correct.

Many thanks,

Jamie

Hi Jamie.

Im in the current position of trying to get life insurance or mortgage protection insurance and am really struggling to find a provider that can cover me. I am going to try to call the British Insurance Brokers association for some help with this but if you have any advise on where to look it would be greatly appreciated,

Best wishes
Kate

 

[JamieDiabeticfor30+years]

Hi Jamie.

Im in the current position of trying to get life insurance or mortgage protection insurance and am really struggling to find a provider that can cover me. I am going to try to call the British Insurance Brokers association for some help with this but if you have any advise on where to look it would be greatly appreciated,

Best wishes
Kate

Hi Kate, I am very new to this. But I should be able to assist you. I hope this is OK? Ps I've never responded to something I've posted so don't really get what the rules are etc

 

[rebrascora]

Not a good idea to post your number on a public forum so you might want to delete that asap.

 

[everydayupsanddowns]

I’ve edited the post @rebrascora @JamieDiabeticfor30+years to preserve your privacy.

To avoid clashing against the forum’s “No advertising or products or services” rules, perhaps it would be better to offer general suggestions based on your valuable experience @JamieDiabeticfor30+years on the open forum -that way everyone can get the benefit?

There’s more information about Diabetes UK’s partnership with The Insurance Surgery (for life insurance) here too

Our Partnership with The Insurance Surgery

Working together to help people living with diabetes to better understand life insurance

www.diabetes.org.uk

 

[KateAhern]

Hi Kate, I am very new to this. But I should be able to assist you. I hope this is OK? Ps I've never responded to something I've posted so don't really get what the rules are etc

Hi Jamie,

Thanks so much for offering your help. I look forward to hearing some suggestions

 

[JamieDiabeticfor30+years]

Of course, so I've found that a lot of advisers have been fobbing people off who have diabetes and related conditions due to the (sometimes) complexity of the condition. Through a lot of hard work I have been compiling diabetes related questioning in order to get people like us the cover they want. I find it infuriating that our life cover is so much more expensive due to dumb luck and in my experience I want people to be able to access a) best value cover and
b) cover they never knew they could get.

In my experience, I've heard it too many times of late that people have been told they can't get it, I agree for some they can't due to health concerns, but for around 80% I've been able to secure some form of cover for them. I just wanted to know who else has had experiences like this in the past.

I don't like the fact that my diabetes is well controlled etc but that my cover is twice as much as a non diabetic. It really grinds my gears

 

[JamieDiabeticfor30+years]

Cover for Income Protection for diabetics can be done with no increase in cost (with an exclusion to any diabetes related condition).

Critical Illness Cover is now available through 2 providers for type 2 diabetes but with a minimum increase in cover of 75%.

Life cover has the potential to be no increase if prediabetic (depending on severity)
For type 2 diabetes this can be as little as 25% increase in premium
For type 1 diabetes it can be as little as 50% loading, mine is because I've had it for more that 15 years and type 1

 

[JamieDiabeticfor30+years]

Not a good idea to post your number on a public forum so you might want to delete that asap.

I'm new to forums, thank you

 

[Deb_l]

I've had no issues with life cover, travel or car insurance since I've been diagnosed.

 

[KateAhern]

Cover for Income Protection for diabetics can be done with no increase in cost (with an exclusion to any diabetes related condition) from a company called Cirencester

Critical Illness Cover is now available through 2 providers for type 2 diabetes but with a minimum increase in cover of 75%.

Life cover has the potential to be no increase if prediabetic (depending on severity)
For type 2 diabetes this can be as little as 25% increase in premium
For type 1 diabetes it can be as little as 50% loading, mine is because I've had it for more that 15 years and type 1

Thank you !

 

[AndBreathe]

Cover for Income Protection for diabetics can be done with no increase in cost (with an exclusion to any diabetes related condition).

Critical Illness Cover is now available through 2 providers for type 2 diabetes but with a minimum increase in cover of 75%.

Life cover has the potential to be no increase if prediabetic (depending on severity)
For type 2 diabetes this can be as little as 25% increase in premium
For type 1 diabetes it can be as little as 50% loading, mine is because I've had it for more that 15 years and type 1

Can you define any diabetes related condition please? To me, that is likely to exclude heart disease, stroke, kidney disease, many forms of eye disease, just off the top of my head.

How many successful claims have been made by people living with T1 diabetes, and what percentage of those submitted claims were successful in paying out the fully insured amount under "Own occupation" cover? What percentage of those claims were rejected due to being considered to be diabetes related?

On your CI statement, you suggest those living with T2 will enjoy increased cover of 75%? Is this 75% additional premium? I can't see how living with T2 would give the person enhanced terms.