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Life Insurance

B

brettsza

Well-Known Member
Messages
1,205
Type of diabetes
Treatment type
Diet only
Just wanted to get some info and help on life insurance, many of you might have it and many might be considering taking it out, I was wondering if anyone has any idea of who would insure diabetics and what is the best way to go about, is it to talk to the insurers directly or brokers. What would be my first step basically and what all to look for before finalising who I take the life insurance with.
I really want to get this insurance sorted as I am fairly young and I have a small kid and mortgage to pay off and dont want to leave everything till too late or on them.
Any advice would be appreciated.
 
Shop around, but keep in mind that the cheapest quote isn't always the best policy so do read the small print.

At 32 and being a diet controlled type 2 you shouldn't have too much trouble getting insurance, I'm not sure if they heavily load the premiums as they do for type 1's but hopefully they don't.. Anyway, it's sensible to haver life insurance so that you leave your family comfortable should the worse ever happen, good luck and hope your find something suitable.
 
Thanks @noblehead
Well I think premiums are ranging from 50 to 75 pounds per month but I am shopping around. does your info with 10 different insurers matter as I want to do this in next few days.
 
brettsza said:
Thanks @noblehead
Well I think premiums are ranging from 50 to 75 pounds per month but I am shopping around. does your info with 10 different insurers matter as I want to do this in next few days.
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Life cover varies and you don't say what the £50-70 covers, personally I wouldn't rush into things and keep looking around and then compare them all, I got life cover (for mortgage purposes) with a company called Phoenix life, but it's many years ago now and I don't know how competitive they are now.
 
Go to a decent IFA, they can complete a questionnaire and fax it off to specialist companies and get quotes for you. Most of the mainstream insurers will load the premiums between 50% and 100%.

Ali (ex IFA now caring for parents!)
 
I have had to go to a financial adviser for them to find me some after being knocked back by Prudential............

I now have an application going through with AVIVA with nothing back yet, its been about 3-4 weeks.......

I am disappointed how hard it has been so far.........

I am type 1 of 16 years with average control, on BP meds and have retinopathy/maculopathy.......

fingers crossed.........
 
Thanks for the feedback guys
I have also gone through IFA and I got a call from him and he's suggesting aviva too but coz of my age he said coz its just 32 and already you are diabetic they are like adding 5 or 7 years to your age and they will need proof from the docs and all, I am well controlled t2 on medication and no other complication.
He will call me again and go through the application
I will keep you posted
I have mortgage and really scared if something happens I do not want to leave my wife and kid in a mess, Could get on to benefits but I rather not.
 
brettsza said:
I have mortgage and really scared if something happens I do not want to leave my wife and kid in a mess, Could get on to benefits but I rather not.
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This is the exact reason for me, new mortgage, 2 kids and a misses..........
 
I was reading had I taken it before I was diagnosed I would stil pay less and had been on the cover already, at my age I was getting for about 25 a month and now about 40 to 50 that too if all goes ok.
 
brettsza said:
I was reading had I taken it before I was diagnosed I would stil pay less and had been on the cover already, at my age I was getting for about 25 a month and now about 40 to 50 that too if all goes ok.
Click to expand...

Yes, unfortunately that's true, but we do put these things off sometimes and it times like this that we regret it, anyway still worth purchasing knowing that you have the peace of mind you will not leave your family struggling should something happen to you.
 
As you will see, you can complete a diabetes questionnaire online and get an indicative premium within 5 days.

Ali
 
I too got rejceted by aviva through my IFA but after doing some online comparisons a place called the Insurance surgery called me and asked if i wanted them to look into, I did as it was free and ended up getting cover for less than I expected. There customer service was great. When I told them I was on the waiting list for a pump which should help reduce my hba1c they said they would call me in a year or so to see if anything had changed as the premiums go alot on you hba1c
 
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