Life insurance and diabetes

If you have diabetes, or are at risk from diabetes-related complications, it might be reassuring to have life insurance. It could help to provide for your loved ones, at least financially, should you pass away unexpectedly.

Explore life insurance options for people who have diabetes.

  • Yes, you can. Having diabetes doesn’t stop you from taking out life insurance.

    Insurers may see pre-existing conditions, such as diabetes, as higher risk. This just means that premiums for life insurance could cost more for someone with diabetes.

    But, if you can show that you’re able to control your diabetes and live a healthy life, life insurance might not cost much more.

    Life insurance and Type 1 diabetes

    With Type 1 diabetes, life insurance is usually more expensive. This is because there is a greater chance of having health issues, like a stroke or heart attack.

    If you have Type 1 diabetes, your insurer may ask for a medical exam before you apply for life insurance. You might also need to share more information about your condition, like a recent HbA1c reading, and details of any medication you’re taking.

    Your insurer can also ask for other general health factors such as your body mass index (BMI). This could involve them contacting your GP for medical records.

    Life insurance and Type 2 diabetes

    Life insurance with diabetes type 2 could also come with higher premiums, varying by severity.

    If you have Type 2 diabetes and are applying for life insurance, the insurer might ask for a medical exam. They may also need to know your BMI and most recent blood glucose readings, or request information from your GP.

    If you can prove you're managing your diabetes and keeping to a healthy lifestyle, the insurer might offer a lower premium. Positive life choices might also go in your favour. For example, exercising, eating a balanced diet, and reducing smoking and alcohol consumption.

  • Yes, it’s important to give a full account of your medical information when taking out life insurance as a person who has diabetes.

    This accounts for both Type 1 and Type 2 diabetes. Leaving out sensitive data might cause your insurer to cancel your life cover.

    If records confirm a diagnosis you didn’t disclose, your insurer could refuse a future payout. This means your loved ones might not be able to make a claim and receive the financial support you wanted for them.

    What should I tell my insurer about my diabetes?

    Information that you might need to give an insurer includes:

    • The date of your diagnosis and the last date you had a diabetic review.
    • The treatment you get and if it includes an insulin pump or injections.
    • The dates for your regular appointments at the diabetic clinic or hospital, and any hospital admissions.
    • Results of your blood glucose levels in red blood cells, also known as the HbA1c test.
    • Risks and occurrence of further complications from diabetes. These could include abnormal urine test results, eye issues, or kidney issues. Also, symptoms such as loss of sensation, tingling or numbness in feet, toes and fingers.

    Your insurance company may ask about your lifestyle choices towards factors such as exercise, alcohol, smoking, and diet.

  • If you develop diabetes after your policy begins, you won’t need to update your insurer – unless they tell you otherwise. This means that you’ll continue paying the same premiums as before, and your cover won’t change.

    Giving up-to-date information to your insurer might make the payout process quicker if your loved ones were to make a valid claim.

    If you choose to take out new cover, you’ll need to give the insurer details on your health then. This is to make sure that your cover includes this new diagnosis.

    Each time you take out a new life insurance policy, an insurer should be fully aware of your health then.

  • Everybody has different needs. Here are some life insurance options to consider if you’re diabetic.

    Whole life insurance

    Whole life insurance covers a person for their entire life, as long as that may be. Although the premiums are higher than term life insurance, you have cover for the full rest of your life.

    Term life insurance

    Term life insurance covers you for a set period. Halifax term life insurance is available for anything from 5 to 40 years, up to the age of 69. Beneficiaries can make a claim if the policy holder passes away during the term. Decreasing term life cover offers a potential payout that goes down over time. With increasing term life insurance, the amount of cover goes up in line with inflation.

    Critical illness insurance

    Critical illness cover insures you against life-threatening medical issues like some cancers, strokes, and heart attacks. Where life insurance claims can only be made after you pass away, a critical illness payout is made while you are still alive.

    You can buy our life insurance with critical illness together, or separately. Always read policy documentation carefully before you go ahead, making sure it gives the cover you really need.

    Whatever cover you select, it’s important to know that your policy has no cash in value at any time. If no claim is made during the term, the policy will end and you’ll get no money back. If you don’t pay your premiums on time, the policy will end and you’ll get no money back.

    Our life insurance and critical illness cover policies are provided by Scottish Widows - who are also part of Lloyds Banking Group. They are our life insurance experts, helping to protect what matters most for over 200 years.

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