Diabetes & How It May Affect Your Trauma Insurance Policy

Diabetes is a condition that can affect many different parts of the body. Most importantly, diabetes affects the body’s ability to produce insulin, which is a hormone that helps turn glucose into energy. Without the body producing sufficient insulin, glucose levels in the blood can become dangerously high.

Recent studies have shown that up to 60% of Australian adults could be at risk of developing diabetes. Many are at risk due to lifestyle factors including obesity and diet.  While others might have an increased risk due to a genetic pre-disposition.

Having a trauma policy in place that covers the life insured for diabetes can help ease the financial pressure if the life insured is diagnosed with diabetes. Most comprehensive trauma policies will cover diabetes. The insurance companies product disclosure statement will have more detailed information on the conditions that are covered.

Trauma insurance will pay out as a lump sum figure if the life insured is diagnosed with diabetes and meets the insurance company's definition. This lump sum figure (which is nominated by the life insured at the time of application) will assist in paying medical expenses, mortgage repayments and other personal and household bills, as well as the loss of income that might occur.

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