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Life insurance

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NickInSurrey

Newbie
Messages
1
Type of diabetes
Type 1
Hi all, new member here!

Has anyone else had experience of high quotes for life insurance?

I'm 38, healthy, well-controlled T1 with HbA1c of 6.7, currently looking at life insurance options for the first time.

But the quotes I'm getting are 175-200% higher than my, non-diabetic, other half thus pushing the premium up by a lot.

Has anyone found an insurance company which isn't as discriminatory?!? Or is this just the norm.

Thanks all!

Nick
 
Remember I'm in the US. Back when I got it I was actually able to get a policy that wasn't rated, because I had only recently been diagnosed, and I was willing to "front load" it for about 2 years, then the premiums decreased and the cash value I'd built up buffered them as I got older and the premiums naturally went up. I cashed it out years ago. But I'm not surprised your quotes are higher than your wife's. Insurance companies don't really care how well controlled you are either. I hate insurance companies. If they can screw you they will find a way to do it.
 
NickInSurrey said:
Hi all, new member here!

Has anyone else had experience of high quotes for life insurance?

I'm 38, healthy, well-controlled T1 with HbA1c of 6.7, currently looking at life insurance options for the first time.

But the quotes I'm getting are 175-200% higher than my, non-diabetic, other half thus pushing the premium up by a lot.

Has anyone found an insurance company which isn't as discriminatory?!? Or is this just the norm.

Thanks all!

Nick
Click to expand...
Nick - your experience is quite usual and will be that way, almost anywhere (meaning cover provider) you go. Whether we like it or not, diabetes is considered to increase the risk of an earlier than usual demise, so the risk of paying out is increased, versus Mr Joe (non-diabetic) Public.

Companies will differ a bit, depending on their corporate view, their historic book and the reinsurers current view. Your current and historic HbA1cs will be taken into account inyour underwriting process, as well as your wider medical history and any co-morbidities.

In reality, you are best to use an independent financial advisor, as opposed to someone with a very limited choice or products or providers. They can do the calling around or research for you.

Good luck with it all.
 
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