How can I deal with diabetes and insurance? - Anon Question

[Anonymous Question]

Anonymous question submitted:

After having skin cancer in my 20's then in my early 30's starting a family and buying a house I tried getting life insurance and mortgage protection but was turned down. It has been mental torture and I have convinced myself that I will not be able to provide something for them if the worst happened. Last year I was then diagnosed with Type 2 Diabetes. I was wondering how all of you deal with having health complications and does it affect your life/holiday insurances and mortgage protection.

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[sterling]

Re: How can I deal with diabetes and insurance? - Anon Quest

Shortly after my Type 2 diagnosis I was told that my a premium for additional insurance would be doubled but even then I was uninsurable for several months until subsequent HbA1c measurements were proven.

Interestingly, the enhancement for a annuity would only be marginally more (not double).

So life insurance carries a 100% enhancement while annities get only a 10% enhancement.

 

[noblehead]

Re: How can I deal with diabetes and insurance? - Anon Quest

As a type 1 on insulin but no other health issues I can get life/mortgage protection insurance but it comes at a cost, the premiums I pay each month are far more than someone who is otherwise healthy.