Posted 3 Apr 2020

iam|INSURED Guide to Diabetes Critical Illness Insurance

The facts about getting critical illness insurance with Diabetes

In the world of underwriting, several providers are now offering Type 2 Diabetes Critical Illness Cover. In the past, very few providers were offering this product for Diabetes sufferers, and premiums were also expensive. Thankfully, this is now changing, and if you have Diabetes, taking out critical illness insurance may be a worthwhile option.

What does Diabetes critical illness insurance cost?

Critical illness insurance for Diabetes sufferers is certainly more affordable and reasonably priced now than it has ever been in the past. There are a number of reasons for this, including better mortality rates (as we are generally living healthier lives), greater competition and cost-cutting measures in the insurance industry. There have also been significant advances in the knowledge of Diabetes as a condition, as well as developments in treatments to help sufferers. Overall, Diabetes critical illness cover is generally more expensive than life insurance, as it is 6 times more likely that an individual will make a claim.

How does Diabetes critical illness insurance work?

Diabetes critical illness insurance is generally available if your Diabetes is under control, you are a non-smoker and have no underlying medical conditions or complications. Some providers may have standard exclusions on their policy such as cardiovascular conditions and anything relating to the eyes, but this can vary between underwriters. Talk to us at iam|INSURED today where we can help you find the right cover for your circumstances.

Diabetes critical illness insurance amounts

Critical illness cover is slightly different to life insurance in the sense that it is designed to provide a lump sum payment if you are diagnosed with a critical or serious illness. Most people relate this type of cover to Cancer, which is the biggest reason for claims for critical illness cover.

Diabetes critical illness insurance providers

It is also becoming more likely to be able to get a Diabetes critical illness cover policy as a growing number of insurance providers are offering this type of cover. If you have applied for Diabetes critical illness cover or income protection in the past and your application was declined, then it may be worth contacting iam|INSURED to try again. Critical illness cover is an incredibly valuable policy, especially for those with a pre-existing medical condition such as Diabetes.

Daniel Sharpe-Szunko