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Mortgage insurance

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dectjoh

Well-Known Member
Messages
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Hi there - does anyone have any advice regarding finding an insurance company that doesn't penalise diabetics too much? I am type 1 and currently trying to get a mortgage. I have heard that it can be very expensive to get life assurance to secure the mortgage and would appreciate any advice on the matter. Thanks, Tracy
 
Hmmm I had never thought of that. I got my mortgage on October 2012 and was diagnosed T1 in February 2013. I never considered that diabetes could have had an effect on that.

So no answers I'm afraid. Can only day good luck!
 
I would be interested to know this - I was refused insurance on the basis of being diabetic - only life insurance for mortgage protection I hve had no problem with car insurance


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Bad luck kelp84. Out of interest, who refused you? I've been told that it should be possible to get the cover but the premium will be loaded based on my HbA1c value. Has anyone else had experience of this? Tracy
 
I live in New Zealand, so may be a bit different here. I went through an insurance broker who was going to look into health, income protection and life insurance for me. None of the companies he worked with would give me health or income protection insurance because of my diabetes (although if it had been less than 10 years since diagnosis I might have had more luck apparently). He did manage to find a company who did a life insurance policy which didn't involve any medical questions, apart from asking if you suffer from any condition likely to cause death in the next 12 months. So I guess it pays to just look at all your options and shop around. And get as much cover as you can as early as you can, even if you don't need it at the time, because it will probably just become harder to find cover. I've just turned 22, no kids etc or anything that I would really need life insurance for, but it will come in handy one day, for things like getting a mortgage as you say.

Sorry for the ramble, hopefully some of it might be useful to someone, and good luck in finding your insurance :)
 
I have found a company based in Macclesfield, The Insurance Company, number 01625505701. They have been really helpful in my attempt to get life cover and it is their speciality.

I have to say that at the moment I have been turned down by Pru because of some on-going health matters that aren't related to my diabetes, or infact true (but that was an error in my dr's report) - but I can recommend the brokers and hope to get my life insurance sorted soon.
 
dectjoh said:
Hi there - does anyone have any advice regarding finding an insurance company that doesn't penalise diabetics too much? I am type 1 and currently trying to get a mortgage. I have heard that it can be very expensive to get life assurance to secure the mortgage and would appreciate any advice on the matter. Thanks, Tracy
Click to expand...


Shop around, I got life insurance cover for my mortgage but the premium was heavily loaded with me having type 1 diabetes, the company I went with who were the cheapest at the time was Phoenix Life, even then they charged an additional £17 :thumbdown:
 
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