If you have diabetes, finding affordable life insurance coverage that meets your needs can be challenging. However, it’s not impossible to see a good policy. Here are some things to consider when looking for the best life insurance for diabetics in the UK:
1- Work with a specialist broker: A specialist broker can help you navigate the life insurance market and find policies specifically designed for people with diabetes. These brokers understand the underwriting criteria of different insurance companies and can help you find the most suitable coverage.
2- Choose the right type of policy: Different types of life insurance policies are available, and the best one for you will depend on your circumstances. For example, a term life insurance policy may be suitable if you need coverage for a specific period. Alternatively, a whole life insurance policy may be better if you want coverage for the rest of your life. A specialist broker can help you choose the right policy for your needs.
3- Consider your HbA1c levels: HbA1c is a test that measures your average blood sugar level over the past 2-3 months. Insurers may use this test to determine your diabetes control and risk of complications. You may be eligible for lower premiums if your HbA1c levels are well controlled.
4- Be prepared for a medical examination: Insurers may require you to undergo a medical exam before offering coverage. The examination may include tests for blood pressure, cholesterol, and HbA1c levels. Preparing for the examination is important by maintaining good diabetes control and ensuring you have all the necessary medical records.
5- Consider a joint policy: If you have a spouse or partner, consider a joint life insurance policy. This can be a more affordable option and provide coverage for both of you.
Some of the best life insurance companies for diabetics in the UK include Diabetes Life Cover, Pulse Insurance, and Special Risks Bureau. These companies offer policies specifically designed for people with diabetes and can provide affordable coverage.
How Much is Life Insurance for a Diabetic UK -
The cost of life insurance for a person with diabetes in the UK can vary depending on some factors, including your age, gender, the severity of your diabetes, and your overall health. Generally, life insurance premiums for people with diabetes tend to be higher than those without diabetes due to the increased risk of complications.
To give you an idea of the cost, let’s consider a scenario where a 40-year-old male with type 2 diabetes wants to take out a £100,000 life insurance policy for 20 years. Assuming he is a non-smoker and has good diabetes control with an HbA1c level of 7%, he could expect to pay around £40-£50 per month for coverage.
However, if the same individual had poorly controlled diabetes with an HbA1c level of 9% and other health complications, such as high blood pressure and high cholesterol, the premium could be significantly higher, potentially reaching £100-£150 per month.
It’s important to note that these figures are just estimates, and the cost of life insurance for a person with diabetes will depend on many factors. Working with a specialist broker who understands the life insurance market for diabetics can help you find the most affordable coverage that meets your needs.
