However, things are beginning to change for the better. At I’m Insured we have a panel of life insurance providers who we can use to best place an applicant’s policy according to their circumstances. The idea of course is to find a best fit in terms of the cost but also the least amount of hassle.
Previously, all life insurance providers in the UK would automatically ask for a report for the individuals doctor before they would consider offering insurance. That also meant that there was no clear indication of price until right at the end of the process. A process that could take anywhere from 4-12 weeks.
I’m Insured has recently gained access to two UK wide life insurance providers who will potentially offer instant decisions for applications involving diabetes disclosures.
The insurers have changed their outlook on diabetes as well as designing their questionnaires to gather all the relevant information to make an instant decision whenever possible. This means that it is very important that as an applicant, you should have as much up to date information available about your condition as possible. This includes your most recent HbA1c reading, the dates of diagnosis and how often you have a check-up, as well as details of any other conditions such as raised blood pressure and/or cholesterol as well as the readings for these also.
In fact, the more information you can provide at the time of application the better. It also is a good sign of an individual who is proactive at keeping their diabetes well controlled.
Unfortunately, we can’t guarantee that we will be able to get all our diabetic applicants insurance straight away. In some cases, there will still be the need for the insurer to write to your doctor. But, if you have applied for life insurance in the past and have found that because you suffer from diabetes the process was made a lot harder and you perhaps ended up not taking the cover because it was too expensive or indeed you are currently paying a bigger premium because of diabetes, then it’s probably worth letting us at I’m Insured review your policy.
Similarly, if you are new to the life insurance market and you want to talk through what your options are in terms of finding the best price for a life insurance policy as a diabetic, then get in contact and let us help. In all cases, we will listen to what you tell us and take note of your individual circumstances to make sure we find the best possible fit for your needs.
You can read more about our cover available to those with diabetes at our dedicated page here.