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Original poster

Life insurance and critical illness cover when you have type 1 diabetes.

15 replies

mmmmmchocolate · 03/09/2018 12:19

Are there and diabetics who have got life insurance and critical illness cover and what companies did you have these with? We’re struggling to find any that will insure us. Thanks in advance.

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Original poster
mmmmmchocolate · 03/09/2018 13:24

Hopeful bump 🤞🏻

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Original poster
mmmmmchocolate · 03/09/2018 19:17

Bumping for the evening crowd 🤞🏻

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Bubbagumpshrimp · 03/09/2018 19:27

I am not diabetic but do have a long term health condition that limits what I can get in terms of life insurance.
Through a broker I managed to get a 20 year life policy although they capped it at this term and I paid an additional premium to account for the pre-existing condition. It is with the Exeter friendly society.
I was told that my health condition meant that critical illness cover would be very unlikely to be considered by any company but that might not be the same in your case

Oliversmumsarmy · 03/09/2018 19:30

Dp looked years ago but the price was huge and we couldn’t afford it.

Original poster
mmmmmchocolate · 03/09/2018 19:48

DH already has both but neither will pay out if he dies due to his diabetes. However this is linked to the house we’re in at the moment, we’re struggling to get anything for the house we now want to buy. It’s frustrating because he has these things but if we want to move we basically risk ours (and our children’s future)

Royal London basically has a whole Pago online about how they insure diabetics and when we phoned them they told us that they didn’t 😡😡😡

Thank you for the recommendation bubba I’ll give them a try. Oliversmummy- so you just do without it?

Any other suggestions would be great.

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Original poster
mmmmmchocolate · 03/09/2018 19:51

I should have said type 1 diabetes, the Exeter says on the home page type 2 but I’ll fill out and see what they say, thanks 😊

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Oliversmumsarmy · 03/09/2018 19:57

We don’t have anything.

As dp also has terminal cancer I doubt we can get anything now

DH already has both but neither will pay out if he dies due to his diabetes

How does that work. I know that someone could go into ketosis but diabetes affects a lot of other organs. Would they pay out on a heart attack or could they argue it is diabetes related

Original poster
mmmmmchocolate · 03/09/2018 21:23

Sorry to hear about your DP Oliver’s mummy ☹️

Yes they could argue anything tbh, but there’s still the chance they could pay out so we have some security. I couldn’t pay the mortgage on my own and I’d lose the house. Maybe I need to stop worrying about things that might not happen...

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user1471530109 · 03/09/2018 21:29

I'm type 1. Years ago I managed to get life cover from hsbc for first.mortgage. I moved 2 yrs later and they now refuse to cover diabetes. I still have the original.cover though.
I also have the security that my works pension will pay out if I die 'in service' 3x my salary. This should cover any outstanding mortgage left.

I didn't need life cover for my mortgage btw. I renewed mortgage within last 12 months.

Original poster
mmmmmchocolate · 03/09/2018 22:59

See this is what worries me- the original policy was through a company that doesn’t even exist anymore and we’re still waiting to hear from them if they will insure him. I didn’t think we could keep the original policy as it was taken out for the mortgage of our current house. I’ll look to see if that could be kept- it would cover about half of total amount. Thanks for giving me that to think about 😊

I’m as cheap as anything to insure and I’m chunky, in worse shape and less fit than my DH..

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Oliversmumsarmy · 04/09/2018 01:26

We were quoted many years ago about £1500 per month for £300,000 worth of cover. I pay £22 per month for the same.

It is so long ago I think we are quids in not having it.

mikeTV · 04/09/2018 01:28

I have life cover (aviva I think), but no one would give me critical illness cover.

Focalpoint · 04/09/2018 13:53

There is an online quote on diabetes.co.uk that claims to reduce life cover cost compared to the main insurance companies.

It seems that they offer life cover but not critical illness for T1.

Sunseed · 04/09/2018 14:20

Even though the original policy was taken out in connection with your mortgage, the two things are completely separate and the policy will continue even if you move. But, having said that, you need to check to see whether the policy was assigned to the lender, i.e. if DH died the claim proceeds would be paid directly to the lender to clear the mortgage. If you move and redeem the original mortgage they'd have no further interest in DH's life but unless that's confirmed to the insurance company it can cause delays and the money be paid out to the wrong party.

Original poster
mmmmmchocolate · 04/09/2018 15:23

So we have made a little progress, yes we can keep the original policy, but it is only valid for the remainder of our mortgage in our current house (so he would have no cover for the last 15 years of the term, and in 10 years time he would be older and getting cover would be much harder than now)

Aviva will cover for life insurance- but not critical illness. And his company will likely cover critical illness - but it will end if he ever leaves. So there is something out there- now we have to see if we can afford it.. thanks for the help guys 😊

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