26 June 2018

People living with diabetes no longer face a life insurance lottery

3 min read

Mona Patel, Group Head of External Communications
Mona Patel

Group Head of External Communications


People living with diabetes can, for the first time, buy life insurance knowing that their premiums will never go up and can go down.  Royal London’s new Diabetes Life Cover is the first in the market to offer capped premiums. 

The Diabetes Life Cover has also built in flexibility allowing for a reduction to premiums by up to 40% for consumers who manage their diabetes well.  If a consumer’s HbA1c test result falls into a lower band they will get a price reduction.

Customer example

Assume Jane has an Hb1Ac reading of 9.5 at the start of her policy and pays a premium of £100. A year later her reading is 7.5 and her premium goes down to £96.50, a reduction of 3.5%. Another year later her reading goes up to 8.5 but as it’s still below her initial reading she receives a 1.75% reduction to her premium which now goes down to £94.81.

Royal London’s Diabetes Life Cover must be bought through a financial adviser who can use a tailored fast track application process leading to immediate acceptance. Advisers can get a quote for clients in minutes avoiding a lengthy underwriting process.

Commenting on the launch Christina Rigby, Product Specialist at Royal London said:

“People living with chronic conditions such as diabetes can find the application process for insurance intrusive and complicated. They can also be put off by the cost of cover. Enabling consumers to reduce their premiums by managing their diabetes well and capping premiums means people with diabetes can access life insurance which may previously have been out of reach.”

Diabetes Life Cover is most suitable for people with Type 1 and less well controlled Type 2 diabetes who find it more difficult to access protection. This group makes up 82% of people living with diabetes.

- ENDS -

Notes to editors:

  1. The HbA1c is important for people with diabetes as the higher the HbA1c, the greater the risk of developing diabetes-related complications.  It refers to glycated haemoglobin. It develops when haemoglobin, a protein within red blood cells that carries oxygen throughout your body, joins with glucose in the blood, becoming 'glycated'.
  2. Facts and Figures
  • Almost 3.7 million people have been diagnosed with diabetes in the UK
  • Estimates show nearly 1 million people currently don’t know they have diabetes because they haven’t been diagnosed. This means the total number of people living with diabetes is 4.6 million
  • 12.3 million people are at increased risk of Type 2 diabetes

Source: www.diabetes.org.uk

For further information please contact:

Mona Patel, Group Head of External Communications

Neil Millard, Manager Director, Rhizome Media Group              

  • Email: neil@rhizomemediagroup.com 
  • 07803 560 331


About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.