Frequently Asked Questions

I have well-managed diabetes. What are my life insurance options?

Diabetes is the sixth leading cause of death in Australia. As such, some life insurance providers have strict guidelines in place in order to test the life insurance eligibility of someone living with either Type 1 or Type 2 diabetes. When making your application for insurance, you will need to provide certain details such as the age at which you were diagnosed with your diabetes as well as the ways in which you are managing and treating your condition. You will also be asked to submit the results of your most recent HBA1C reading.

Taking steps to manage your diabetes, such as quitting smoking and remaining mindful of your weight, can help you towards successfully finding cover. Life insurance companies will take this into consideration as well as other factors such as your current blood pressure and cholesterol levels.

For a person living with diabetes, ensuring a life insurance application for cover is medically underwritten, can work in your favour if you need to claim. If you fail to provide details of your condition, an insurer may refuse to honour your claim when the time comes for it to be paid.

Lifebroker works to help provide you with the information you need to make confident decisions about your financial future. If you’re still unsure about your options, call Lifebroker today on 13 LIFE (13 54 33) to speak to one of our qualified life insurance consultants.

We are specialists in life insurance — and we’re here to help. To find out more about diabetes and life cover, give us a call on 13 LIFE (13 54 33).

Reference

1.     Australian Bureau of Statistics

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