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Life Insurance

It is best to shop around for best policy for you, having diabetes shouldn't add to premium.
Smart life insurance do several options, though your bank might offer a good value policy.
 
I go mine with AVIVA through the website Insurance Surgery, which claimed to specialise in policies with medical conditions.

Had that a year and have now moved onto Zurich for a few quid cheaper a month due to a phone call that another diabetes specialising broker gave me.
 
Shar67 said:
It is best to shop around for best policy for you, having diabetes shouldn't add to premium.
Smart life insurance do several options, though your bank might offer a good value policy.
Click to expand...

Shar, I'm afraid that T1 (and variants of it) are viewed as an additional health risk by Life Assurance providers, due to the increased chance (against the general population) of complications which could, if escalated, impact on life expectancy.

If someone is well controlled today, it will be taken into account, and respected, but there is no assurance for the Life Company that control will continue for the lifespan of the policy. That would be factored into any pricing on an individual basis.

Sadly, those are the harsh facts from someone who has worked in the provider environment, alongside underwriters, actuaries and pricing analysts who actually decide on these things.

I would love it not to be that way, but sadly that's how it is.

Type 2s have a better time of it, but again, depending on historic control, control at the time of application, and existing complications and full medical history, it is not assured any diabetic applicant's diabetes will be considered no additional risk.

@Sam Carter - There are several companies who do accept T1s, so it is absolutely worth dealing with a true Independent Financial Advisor who will be able to research the whole market. Consulting with your Bank isn't the greatest idea, in your circumstances, as they can only consider their own, and maybe a few additional products, which really isn't what you need.

I'm not au fait with any of the specialist brokers, but there are posters who have used them, with success. Good luck with it all.
 
AndBreathe said:
Shar, I'm afraid that T1 (and variants of it) are viewed as an additional health risk by Life Assurance providers, due to the increased chance (against the general population) of complications which could, if escalated, impact on life expectancy.

If someone is well controlled today, it will be taken into account, and respected, but there is no assurance for the Life Company that control will continue for the lifespan of the policy. That would be factored into any pricing on an individual basis.

Sadly, those are the harsh facts from someone who has worked in the provider environment, alongside underwriters, actuaries and pricing analysts who actually decide on these things.

I would love it not to be that way, but sadly that's how it is.

Type 2s have a better time of it, but again, depending on historic control, control at the time of application, and existing complications and full medical history, it is not assured any diabetic applicant's diabetes will be considered no additional risk.

@Sam Carter - There are several companies who do accept T1s, so it is absolutely worth dealing with a true Independent Financial Advisor who will be able to research the whole market. Consulting with your Bank isn't the greatest idea, in your circumstances, as they can only consider their own, and maybe a few additional products, which really isn't what you need.

I'm not au fait with any of the specialist brokers, but there are posters who have used them, with success. Good luck with it all.
Click to expand...

Smart life insurance don't ask medical questions
 
That's very interesting @Shar67 . Aside from Over 50s style and perhaps cover attaching to something like a bank account, I can't say I'd encountered that. Over 50s style cover is usually a variable, but with very modest death benefit. As the OP is still in his 30s, it seems unlikely Over 50's is appropriate.

On the Smart Insurance website, their Over 50s pays death benefits from £6,000 to £20,000, but the Family Insurance cover, under further information states:
  • "No medicals and no blood tests, just some health and lifestyle questions"
My curiosity was sufficiently tweaked to ask for a quote, and have only just ended the call. During the quotation questions, I responded I had T1 (as that's what the OP has) and was declined any cover, aside from an Accidental Death policy.

@Sam Carter - I'm sorry that meandered off-track there, but I felt Shar's emphatic statement deserved some investigation.

In your shoes, I would reiterate the importance of consulting a true Independent Financial Advisor (IFA), or a specialist broker. Sadly, I can't be any help on the specialist broker front.

I don't know how long you have been diagnosed, but if it very recent, you may find it a bit trickier to get cover as there could be no judgement on your handling of the condition.

It's a trickier situation than for those without diabetes, but not necessarily impossible. Really good luck with it all.
 
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