Life insurance for diabetics – Forbes Advisor UK


When you apply for life insurance, you must declare any medical condition you may have. This includes diabetes.

If you do not disclose a medical condition when completing your application, a claim made on the policy after your death may not be paid.

This is because the insurance company will be told your cause of death, and if they find out something they didn’t take into account when setting your premiums – because you didn’t tell them about it – they shall be entitled to reject the claim.

Life insurers view policyholders with diabetes as a higher risk and therefore generally charge them higher premiums than they otherwise would.

However, the specific amount charged will depend on a range of factors, from your medical history to your lifestyle choices. Here we tell you what you need to know about life insurance for diabetics.

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What types of life insurance policies are there for diabetics?

Diabetics can choose from the same range of life insurance policies as any other customer. The main ones are:

  • Level term – where payment remains the same regardless of when a claim is made, as long as it is within the specified time
  • Decreasing term – when the potential payout declines over the term of the policy, based on outstanding debt that you are gradually paying off, such as a principal and interest repayment mortgage
  • Ascending term – where the potential amount paid out increases by a fixed amount each year over the term to account for increases in the rate of inflation
  • Over 50 years – people in this age bracket are guaranteed to be accepted as insured, which is not the case with other contracts due to their age and risk profile.
  • All the life – that pays no matter when you die.

Other options include:

  • Critical/critical illness cover which pays a tax-free sum in the event of a diagnosis of serious illness or injury. This can be added to a life insurance policy to provide comprehensive protection
  • Income protection insurance – which pays regular income if you cannot work due to illness or injury.

What should I know about life insurance for diabetics?

Diabetes is one of the most common medical conditions in the UK. According to the charity Diabetes UK, 4.7 million Britons are living with the disease.

If you have diabetes when taking out a policy, it will be classified as a pre-existing medical condition, as it can cause a range of health problems such as high blood pressure, poor blood circulation, stroke and kidney failure.

Insurers charge more for life insurance that includes coverage for diabetes-related risks.

What factors do life insurers take into account?

Insurers will need to know the details of your condition. They will ask you for information such as:

  • age of diagnosis
  • type of diabetes
  • related terms
  • related tests and analyzes
  • current treatment and history
  • relatives’ medical conditions

They will also ask you questions about your tobacco and alcohol consumption habits, and your profession, for example. This will help them assess your overall health and the potential for risk in other areas of your life.

Am I guaranteed to have life insurance as a diabetic?

Although most life insurers offer coverage for diabetics, your eligibility will depend on the specifics of your condition and, as with other types of life insurance, other factors such as your general health, other conditions you may have, your age, occupation and lifestyle.

Information that is important to one insurer may not be necessary for another, so don’t be afraid to shop around and compare insurers.

Do I need a medical evaluation to buy life insurance for diabetics?

A life insurer will usually request your medical records from your doctor. In some cases you may be required to pass a medical examination – this will often be the case if you are claiming a high sum insured of £300,000 or more, although this figure varies from insurer to insurer.

How to buy life insurance for diabetics?

The easiest way to buy life insurance for diabetics is to use an online life insurance comparison tool like ours to get quotes.

Should I tell my existing insurer if I get diabetes?

If you have an existing policy and you are told you have diabetes, you do not need to tell your insurer. However, if you tell them, it may speed up the claims process if you die during the term of the policy.

Telling them will not result in increased bonuses, as these were agreed upon initially.

If you survive to the end of the policy term and want to renew your life insurance, you will need to disclose the fact that you now have diabetes, if you do. The insurance company will take this into account when setting your new premiums, which will also reflect your advanced age.

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