Can diabetics get life insurance?

Can people with diabetes get life insurance? 

Yes, people with diabetes can get life insurance, however the application for this is not always straightforward as the severity of the condition will need to be taken into consideration. 

Does having diabetes affect the cost of life insurance? 

Insurers will normally charge customers with diabetes a higher premium to balance the higher likelihood of paying out earlier during the term of a life insurance policy. The extra cost to monthly premium reflects the increased financial risk to the insurer, in summary having diabetes doesn’t prevent you from getting life insurance, but it makes cover statistically riskier, so as a result the premium is higher.

Here is a breakdown of what an underwriter will usually look for when assessing someone with diabetes:

• Age of diagnosis. Type 1 for example, as it is normally diagnosed at a younger age with longer exposure to the condition that can potentially lead to complications.
• Blood sugar control. HbA1c shows average blood sugar control over 2-3 months.
• Weight/BMI. Obesity increases the risk of type 2 diabetes complications such as heart disease and kidney issues, whereas a healthy BMI can improve underwriting outcomes.
• Smoking status. Smoking and diabetes are considered very high risk.

Insurers will also look closely at whether diabetes has caused or is linked to other conditions:

• Heart and blood vessels: Increased risk of heart disease, stroke, and high blood pressure.
• Nerves: Diabetic neuropathy causes pain, numbness, and weakness, especially in limbs.
• Eyes: Diabetic retinopathy, cataracts, and glaucoma can lead to vision loss.
• Kidneys: Diabetic nephropathy may result in kidney failure.
• Skin: Higher chance of infections and conditions like diabetic dermopathy.
• Mental health: Greater risk of depression, anxiety, and cognitive decline.
• Sleep: Sleep apnoea is common, especially with type 2 diabetes.

Managing blood sugar, staying active, and regular checkups can help prevent or delay these complications.

How do underwriters assess type 1 and type 2 diabetes? 

There are two main types of diabetes. People with type 1 diabetes can’t make any insulin, which is needed to allow the sugar in our blood to enter our cells and fuel our bodies. People with type 2 diabetes produce insulin but either it doesn’t work effectively or not enough is produced to work effectively. Underwriters will assess each type differently when you look for insurance: 

Type 1 Diabetes: is typically diagnosed in childhood or adolescence. It’s an autoimmune condition and requires lifelong insulin therapy. Insurers often view it as higher risk due to longer disease duration and potential for complications. These customers may face higher premiums, stricter underwriting, or limited coverage options. 

Type 2 Diabetes: Usually develops later in life and is often linked to lifestyle factors. It may be managed with diet, exercise, oral medication, or insulin. If well-controlled, it’s generally seen as lower risk than type 1. If well-managed, and depending on when it was diagnosed, applicants may qualify for standard or near-standard rates.

Do you need to tell your insurer about your diabetes? 

Yes, it is an important health issue that an underwriter will need to know when assessing a policy application. But if you have an existing policy and are then later diagnosed it should remain valid in its existing form and price, as long as you continue to pay your premiums on time.  

If you want to start a new policy, then it’s important that you let your insurer know about your condition. It’s possible that having diabetes may mean having to pay more for life insurance, but that varies from insurer to insurer. But it really is essential to let an insurer know about the condition, even if you are worried that it may push up the cost.

An insurer needs to know your medical details so it can work out how much your cover will be. If you leave out some details then your policy could be invalidated, which means there will be no payout to your beneficiaries.

Non-disclosure or misrepresentation are terms we use when an individual has omitted to tell an insurer an important fact or failure to share relevant information, it can seriously affect any insurance claim. Here's how: 

What Counts as Non-Disclosure? 

• Omitting medical conditions (like diabetes, heart disease, or mental health issues) 
• Not mentioning lifestyle factors (e.g., smoking, alcohol use) 
• Failing to disclose risky hobbies (like skydiving or scuba diving) 
• Withholding financial or occupational details (e.g., income, job type) 
• Not providing accurate height and weight.

Consequences of Non-Disclosure 

Claim denial: The insurer may reject a claim entirely, even if the issue seems unrelated.

Policy cancellation: The insurer can void your policy from the start (known as “void ab initio”), meaning it’s treated as if it never existed.

Reduced payout: They might pay only a portion of the claim, based on what they would have offered had they known the full facts. 

Legal trouble: In serious cases, non-disclosure can be considered fraud, leading to legal action.

Conclusion 

People with diabetes can get life insurance 

However, the application process can be more complex, and the severity of the condition is a key consideration for insurers. 

Premiums are usually higher for diabetics 

This reflects the increased financial risk to insurers, as diabetes can lead to earlier claims. The extra cost is a direct result of the statistical risk associated with the condition. 

Insurers assess several factors when considering applicants with diabetes, including length of time since diagnosis, blood sugar control, weight/BMI as examples. They will also consider any related conditions, such as if diabetes has led to or is linked to e.g. high blood pressure, cholesterol or eye problems.

Disclosure requirements for diabetics

It is essential to inform your insurer about your diabetes. Non-disclosure (failing to share relevant health or lifestyle information) can result in claim denial, policy cancellation, reduced payout, or even legal action. Accurate, up-to-date disclosure is crucial both at application and if diagnosed during the policy term. 

Managing Diabetes Can Help 

Insurers may request regular medical reports. Demonstrating good control of diabetes can help reduce life insurance costs and improve health outcomes.

There’s a need to look after yourself a bit more because you’ve been diagnosed with diabetes. Some insurers may encourage you to continue being as healthy as possible by asking for regular medical reports or blood sugar levels. 

Showing that you’re keeping diabetes under control could help reduce the cost of having life insurance. But it also helps keep you well, which is the most important issue of all.