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<blockquote data-quote="leking" data-source="post: 1696299" data-attributes="member: 50626"><p>I just got life insurance and income protection cover.</p><p></p><p>My broker basically said because its well controlled and no complications (non smoker, light drinker, good bmi, no family history etc) there would be a % rate applied to my premiums over a non-diabetic, but I'd probably be getting the best rate a diabetic could get.</p><p></p><p>That meant +175% on the life insurance premium. So a £50 premium will cost £87. So the best a T1 can hope for is a 1.75 increase before any complications or issues are taken into account..</p><p></p><p>For critical illness or income protection, we're pretty much screwed. I don't think we generally qualify for these.</p><p></p><p>There are 2 exceptions though. </p><p></p><p>The first, and this applies to life insurance too is to see if your employer offers either as a benefit. You will be accepted regardless of medical history and you'll pay the same premiums as everyone else. I STRONGLY RECOMMEND you get this if you can.</p><p></p><p>The second (and the position I am in) is if you own an Ltd, you can get something called Relevant Life Insurance and Relevant Income Protection. It's similar to getting your employer to provide you the other them both. Expensive, but there are tax savings at least.</p><p></p><p>My income protection is costing me about £160 (+£80 life insurance = £240 a month... /cries) and covers anything diabetic related. A joke of a price tbh, but as the single bread winner I can't afford not to pay it..</p></blockquote><p></p>
[QUOTE="leking, post: 1696299, member: 50626"] I just got life insurance and income protection cover. My broker basically said because its well controlled and no complications (non smoker, light drinker, good bmi, no family history etc) there would be a % rate applied to my premiums over a non-diabetic, but I'd probably be getting the best rate a diabetic could get. That meant +175% on the life insurance premium. So a £50 premium will cost £87. So the best a T1 can hope for is a 1.75 increase before any complications or issues are taken into account.. For critical illness or income protection, we're pretty much screwed. I don't think we generally qualify for these. There are 2 exceptions though. The first, and this applies to life insurance too is to see if your employer offers either as a benefit. You will be accepted regardless of medical history and you'll pay the same premiums as everyone else. I STRONGLY RECOMMEND you get this if you can. The second (and the position I am in) is if you own an Ltd, you can get something called Relevant Life Insurance and Relevant Income Protection. It's similar to getting your employer to provide you the other them both. Expensive, but there are tax savings at least. My income protection is costing me about £160 (+£80 life insurance = £240 a month... /cries) and covers anything diabetic related. A joke of a price tbh, but as the single bread winner I can't afford not to pay it.. [/QUOTE]
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