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Diabetes and Life cover?

elaine77

elaine77

Well-Known Member
Messages
561
Hi all,

I am thinking of buying my house next year and so I've been doing a bit of research into the mortgage side of it and life cover and I keep reading that if you're a diabetic they automatically put a 200-250% loading onto your premium?!!?? Is this true?? I am absolutely fuming with anger here! Diabetes was classified as a disability in the eyes of the law in 2010 and so SURELY insurance companies are discriminating against diabetics by putting such a HUGE loading on just because you are diabetic?? I can't believe this can be allowed to happen when they just outlawed insurance companies being able to charge young men more than young women just for being young men on gender discrimination grounds?? Also.... Almost everything I have read has said that type 1 diabetes is loading more heavily than type 2 diabetes as its more serious?? What about the fact that type 2 diabetics are generally in MUCH worse health than type 1s are???

Surely by doing this they are basically saying that you have to be more wealthy to afford the same calibre of things if you're a diabetic than if you're not? Why should people be unable to protect their assets just because they are diabetic and can't afford the ridiculous loadings?? Are insurance companies 'excluded from the equality act 2010 regulations?' Because if not I'm pretty sure this is illegal!

Apologies for the rant but I've just been diagnosed at a time in my life when all of this is ridiculously relevant and ridiculously more difficult due to the economic situation....I now feel even more cheated than ever!


Diagnosed with GD in 2010, Completely disappeared postpartum. Re-diagnosed December 2012 with type 1.5 diabetes, age 26, BMI 23 currently controlled by only Metformin, 500mg twice a day.
 
Harsh as it is, they do have a point. Insurance is a risk based business and folk with medical conditions are more likely to claim than those without,
It's like the recent furore when people with houses on flood plains were told they'd have to pay more for buildings insurance.

Claims are paid from the pot of premiums paid in by all the policy holders. Why should those considered a good risk have to subsidise those who are more likely to claim?


Sent from the Diabetes Forum App
 
Sparky is sadly right. Diabetes is a risk and that is a risk business. I struggle getting critical illness cover and currently don't have it. I do have life though which hasn't proven all too overpriced strangely. I haven't struggled getting any of my mortgages and remortgages with 8 different providers over the last 12 years though. Wouldn't worry too much about it really. There's plenty of providers to pick from and you know how they like to compete on price... even at risk :lol:

Sent from the Diabetes Forum App
 
Young men were charged higher premiums for motor insurance based on RISK. They were PROVEN to have substantially MORE accidents than their female counterparts and hence a loading was added. Why should everyone else (good risks) subsidise their reckless driving when they are less likely to claim?? YET the EU court ruled that it doesn't matter about RISK when it comes to discrimination so therefore I ask, why is diabetes any different? RISK IS RISK!


Diagnosed with GD in 2010, Completely disappeared postpartum. Re-diagnosed December 2012 with type 1.5 diabetes, age 26, BMI 23 currently controlled by only Metformin, 500mg twice a day.
 
Ahem, so am I right in assuming your view is that you should pay less cos you're a girlie driver AND less cos they're discriminating against your diabetes? Are you buying your house on a flood plain too?

Sorry, only joshing, but the insurance industry have long been known to move the goalposts several times in a game...


Sent from the Diabetes Forum App
 
Is not about the insurance industry it's about the law.... If discrimination takes precedence over 'risk' then surely disability discrimination is just as relevant as gender discrimination? I'm not saying whether it was right or wrong that the EU made that ruling, what I am saying is that because they did surely it has to apply to ALL types of discrimination and not just gender?


Diagnosed with GD in 2010, Completely disappeared postpartum. Re-diagnosed December 2012 with type 1.5 diabetes, age 26, BMI 23 currently controlled by only Metformin, 500mg twice a day.
 
You could try, but if the recent case about fairness with motor insurance is anything to go by, we'll come out the worse for it. Apparently a lady brought a case in the EU re: unfairness of motor insurance policies and the EU ruled yes, there was discrimination in the policy costs. What happened? Women's motor insurance went up to the same as blokes!
 
Good then everyone has to pay as much as we do haha


Diagnosed with GD in 2010, Completely disappeared postpartum. Re-diagnosed December 2012 with type 1.5 diabetes, age 26, BMI 23 currently controlled by only Metformin, 500mg twice a day.
 
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