Diabetes & Life Insurance

A lot of diabetics contact us with the query:

"Can I get life insurance?"

The simple answer is:

"Yes".

More and more insurance companies are having applications put forward from diabetics and the number will continue to rise.

By 2031, it is estimated that 3.3 million Australians will have type 2 diabetes.

Diabetics who apply through Lifebroker have successfully taken out different types of life insurance. Whether you have type 1 or type 2 diabetes, it is possible to get cover.

All applications are fully underwritten upfront, which means that when you apply for the insurance you will be asked a series of medical questions. Once the application has been completed, it will then be assessed by the underwriter. The underwriter is there to evaluate the risk from your application. We ensure all applications are underwritten when you apply because we don’t want you to spend years paying premiums, only to find out your medical condition has been excluded and you are unable to claim.

With a lot of cases that apply for life insurance, diabetic or not, the insurance companies require further information. This can be anything from a blood test to a medical exam or a doctor’s report. This information, culminated with the application is what the underwriter will base their final assessment on.

What the underwriter is going to look for is to see how well controlled your diabetes is. Your application is more likely to be accepted if they feel confident in your ability to control your condition.

If the insurance company’s decision has revised terms, we perform pre-assessment on the case. As many as 1 in 3 of Lifebroker clients are offered revised terms which means the decision on your application includes a loading, exclusion, deferment or decline. Pre-assessment is basically an inquiry with each of the insurance companies. We perform this because when it comes to illness, each insurance company has different guidelines onto which they will cover their clients. We aim to find you the most comprehensive cover on offer to you. This means that if you are a diabetic we will still be able to help you find cover.