Diabetes Type 2 and Life Insurance
Given the prevalence of diabetes, it is not surprising that we receive more enquiries from diabetics than for any other medical condition.
Insurance companies will consider each applicant on their own merits; taking into account aspects of the individual’s diabetes, as well as the rest of the applicant’s general health. For life cover applications from clients with diabetes, the range of outcomes can vary significantly from life company to life company. Specialist knowledge of the market is therefore key to obtaining the best solution. Using our experience we take great care to ensure our clients obtain the most favourable terms possible for their own set of medical data.
We are also regularly approached by clients with diabetes who have been previously declined cover elsewhere. In the majority of cases, we are able to use our experience to help obtain the required cover.
Diabetes Type 2 Case Studies
Diabetes Type 2 Case Study A
Male aged 38. Recently diagnosed with type 2 diabetes.
Seeking £225,000 life cover over 25 years.
Medical Background: The client had some associated nerve complications due to diabetes.
This was a complex case due to the diabetic complications and getting an offer of cover was not straightforward. However we were able to obtain the cover sought for our client and at a premium of only £57.93 per month.
Diabetes Type 2 Case Study B
Female aged 70, retired. Diagnosed with type 2 diabetes
Seeking £25,000 life cover over 9 years.
Before finding Moneysworth, this client had previously been declined by 5 different life insurance companies. We successfully obtained the cover sought for the client at a premium of £28.30 per month.
Diabetes Type 2 Case Study C
Male aged 46, lorry driver. Diagnosed with type 2 diabetes 3 years ago.
Seeking £167,000 life cover over 21 years.
Medical Background: The client was overweight with a high BMI and had previous raised blood pressure readings.
The client had been trying unsuccessfully for 18 months to obtain life insurance to cover his mortgage before coming to us. We successfully obtained the terms as sought for him and to include life cover for his wife at a total premium of £69.44 per month.
Diabetes Type 2 Case Study D
Male aged 62. Diagnosed with type 2 diabetes 2 years ago.
Seeking £75,000 level life cover over 17 years.
Medical Background: Client had very good HbA1C readings and was well controlled. Although the client had diabetes, he had none of the additional complications sometimes associated with diabetes. The only other health issue was work-related stress.
The life company accepted this applicant immediately, without the need for further medical evidence from the client’s doctor. Although we were pleased with the speed of the decision-making process, we were not satisfied with the fairness of the premium (£106.05 per month). We challenged the insurance company over the high premiums and they accepted our reasoning. They changed their decision and offered the cover requested at standard rates, a premium of £62.10 per month- a great result!
Please see our Diabetes video testimonial or read client testimonials.
