Can I Get Life Insurance If I Have Diabetes?

If you have been diagnosed with diabetes, you know that it is a lifelong condition that impacts nearly all aspects of daily living. This medical condition could be considered high risk due to the co-morbidities that often exist alongside it. Due to this complexity, it has been difficult for people living with diabetes to qualify for life insurance, as each person has a different risk profile.

However, AllLife specialises in life insurance for people diagnosed with diabetes. So yes, you can get life insurance if you have diabetes, and you could qualify for substantial cover.

Life Insurance for Type 1, Type 2 Diabetes and Gestational Diabetes

It is also good to know that AllLife offers life insurance that is designed specifically for individuals managing conditions such as type 1 and type 2 diabetes, as well as gestational diabetes mellitus. South African women have a high prevalence of GDM, about 15%, and close to 50% progress to type 2 diabetes after giving birth, so if you are diagnosed with GDM, post-partum screening is important.

Consistent management of your blood sugar levels is crucial. Lower HbA1c levels generally improve your chances of approval and better premiums.

When assessing your application, your specific circumstances will be considered. Healthy habits such as regular exercise, a balanced diet, and not smoking can positively impact your application.

Approval depends on several factors, of which these are a few:

• How well your diabetes is managed

•  Your HbA1c levels
• Your age and overall health
• Whether you have any complications

If your condition is well controlled, you may qualify for up to R10 million life insurance, regardless of your diabetes diagnoses.

AllLife is worth talking to, even if you have been declined life insurance before, as they understand your journey with diabetes.

Why life insurance is important if you have diabetes

Life insurance plays a vital role in protecting your loved ones financially. If something unexpected happens, your life insurance policy can help cover:

• Daily living expenses
• Outstanding debts
• Funeral costs
• Your family’s financial stability

For people living with diabetes, having life insurance is even more important.

Disclosing your diabetes diagnosis when applying for life insurance

When you make your application for life insurance, don’t be tempted to hide your diabetic status. If it’s revealed later, it could see your claim being denied, just when your family needs it the most. The more information and details you provide during your application, the smoother the claim process will be for your family.

The fact that you have diabetes does not mean that you should be denied life insurance. Even if your diabetes is causing uncontrollable weight gain and your BMI becomes high, AllLife can still offer you life insurance with the Chronic Health Plan.

Did you know that South Africa has the second highest number of people living with type 2 diabetes in sub-Saharan Africa, highlighting just how many people are on the same journey as you.

Is life insurance more expensive if you have diabetes?

Some people living with a chronic condition like diabetes may pay slightly higher premiums than someone in perfect health. However, this doesn’t mean life insurance is out of reach or unaffordable.

If your diabetes is well managed and you’re not experiencing preventable complications, the difference in cost can be relatively small. In fact, many people living with diabetes maintain healthy lifestyles and are able to secure life insurance at competitive rates. With the right approach to managing your health, affordable life cover is still very much within reach.

Key takeaway

To answer that question you’ve been thinking about, can I get life insurance if I have diabetes? Absolutely. The key is finding an insurance provider that understands your condition and offers solutions designed for your needs.

With the right support, you can secure life cover, protect your loved ones, and enjoy peace of mind knowing your and your family’s future is financially secure.

Get a personalised diabetes life insurance quote today and discover how much cover you could qualify for.

AllLife (Pty) Ltd is an Authorised Financial Services Provider, FSP No 4946. Insured by OMART, a Licensed Life Insurer.

Sources:

NIH: National Library of Medicine

PMC