top of page

Insurance Cover With Diabetes

Updated: Apr 3, 2023


Can I get life Insurance with Type 2 Diabetes

To simplify enormously, yes you can get life insurance even if you have been diagnosed with type 2 diabetes.

However, due to the nature of the condition, individuals with type 2 diabetes need to meet certain criteria to successfully qualify for life insurance.

Naturally enough, a major factor taken into account is the overall health of the applicant.

Patients with type 2 diabetes are expected to be properly monitoring the condition and eating a sensible diet. Most insurance companies will also expect an applicant’s HbA1c reading to be less than 9.

How do life insurance companies assess individuals with type 2 diabetes?

Most life insurance companies view non-insulin dependent type 2 diabetes as less risky than type 1 diabetes. The reasoning behind this is that type 1 diabetes usually develops much early in a person’s life and is generally seen as a more problematic condition to manage.

As such individuals with type 2 diabetes should expect to pay a much lower rate for life insurance cover compared to individuals with type 1 diabetes.

What do I need to know when applying for life insurance with type 2 diabetes?

Although those with type 2 diabetes have an easier time applying for life insurance compared with individuals with type 1 diabetes, this doesn’t mean that getting life insurance is by any means easy.

Applicants should expect to shop around until they find a sympathetic insurer and even then they should have some kind of idea of how much they should expect to pay.

Ignorance of the industry can lead to an individual being stuck paying huge premiums or worse, being declined by all major providers.

As a life insurance applicant, you are legally obligated to inform other companies about being declined. This rejection will likely make subsequent insurers nervous and may lead to further rejections.

With this in mind, it’s important to apply for the appropriate insurance provider the first time around.

Our professional brokers match the client with the appropriate insurance provider. For individuals who may have been refused before, we can still find them an appropriate insurance provider.

How do I get the cheapest life insurance quote?

As a general rule of thumb, the cheapest quote usually has the strictest underwriting.

They only ever offer the cheapest quote to a person in perfect health. As such it is important that you get a quote based on your history of diabetes.

How much is life insurance for type 2 diabetics?

The cost of a life insurance quote varies on a number of different factors including:

- Results of the most recent HbA1C Reading

- Age

- Any additional medical complications (high blood pressure, BMI, cholesterol)

A person with type 2 diabetes will inevitably pay more than an individual in perfect health.

As such it may be worth considering reducing the amount of coverage purchased to ensure the premiums come in under budget.

What can you do to give yourself the highest chance possible of getting life insurance with type 2 diabetes?

When applying for life insurance with type 2 diabetes, life insurance companies will investigate your:

- Weight

- Diet

- HbA1c Level

- Exercise Habits

These factors will have a direct result on your ability to successfully apply for life insurance.

Citywide Financial Solutions Life Insurance quotes for individuals with type 2 diabetes:

Although individuals with type 2 diabetes should expect to pay more for their life insurance, our brokers can still help individuals get the appropriate life insurance cover for their individual needs.

To book a consultation with a life insurance broker, get in contact with our offices today. 086 229 3032

8 views0 comments


bottom of page