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Getting A Mortgage With Diabetes

Guide To Life Insurance And Diabetes | Drewberry - Independent Insurance Experts

Guide To Life Insurance And Diabetes | Drewberry - Independent Insurance Experts

Drewberry provide pensions, investment and insurance advice for Money to the Masses readers throughout the UK. If youre looking for life insurance with diabetes this guide should help to explain the process when trying to obtain over, and provide some tips along the way. The good news is that it is possible to get a number of personal insurances if you have diabetes but it really does depend on whether you have Type 1 or Type 2 diabetes, the severity of the condition and whether there are any other medical issues to consider. It is usually possible to gain cover if you have either Type 1 or Type 2 diabetes but it is likely insurers will increase the monthly premium charged to reflect a higher level of risk A very small number of insurers would consider offering critical illness cover to those with very well controlled Type 2 diabetes with either a premium loading or exclusion It may be possible to obtain cover with a very small number of insurers if you have well controlled Type 2 diabetes, with insurers either increasing the premiums or placing an exclusion on the plan Its very important to note that insurers can take very different stances on diabetics life insurance, with some insurers declining outright and others increasing monthly premiums by very differing amounts. Rather than applying to a whole number of insurers it is much better to speak to one of our independent insurance advisers, who can speak to the insurers on your behalf and get a indication of which insurer is likely to offer you the most favourable terms. Figures from charity Diabetes UK show that the number of people with the condition is rising. The charity states that are some 3.5 million people with diabetes in the UK. Whats more, they state that there are over half a million people with undiagno Continue reading >>

Mortgage Insurance | Diabetes Forum The Global Diabetes Community

Mortgage Insurance | Diabetes Forum The Global Diabetes Community

Diabetes Forum The Global Diabetes Community Find support, ask questions and share your experiences. Join the community Hi there - does anyone have any advice regarding finding an insurance company that doesn't penalise diabetics too much? I am type 1 and currently trying to get a mortgage. I have heard that it can be very expensive to get life assurance to secure the mortgage and would appreciate any advice on the matter. Thanks, Tracy Hmmm I had never thought of that. I got my mortgage on October 2012 and was diagnosed T1 in February 2013. I never considered that diabetes could have had an effect on that. So no answers I'm afraid. Can only day good luck! Bad luck kelp84. Out of interest, who refused you? I've been told that it should be possible to get the cover but the premium will be loaded based on my HbA1c value. Has anyone else had experience of this? Tracy I live in New Zealand, so may be a bit different here. I went through an insurance broker who was going to look into health, income protection and life insurance for me. None of the companies he worked with would give me health or income protection insurance because of my diabetes (although if it had been less than 10 years since diagnosis I might have had more luck apparently). He did manage to find a company who did a life insurance policy which didn't involve any medical questions, apart from asking if you suffer from any condition likely to cause death in the next 12 months. So I guess it pays to just look at all your options and shop around. And get as much cover as you can as early as you can, even if you don't need it at the time, because it will probably just become harder to find cover. I've just turned 22, no kids etc or anything that I would really need life insurance for, but it will come in handy Continue reading >>

5 Tips: Cheaper Life Insurance For Diabetics

5 Tips: Cheaper Life Insurance For Diabetics

5 Tips: Cheaper Life Insurance For Diabetics 5 Tips: Cheaper Life Insurance For Diabetics When you have a chronic illness, youre in a real dilemma when it comes to life insurance. You may need it more than others. However, insurance companies make you pay if you have a condition, particularly if its a serious, progressive one such as Type 2 diabetes. A Lack Of Coverage Where Its Most Needed According to a 2012 survey, roughly half of Americans with a chronic condition dont have life insurance at all. Why? Because theyre afraid theyll be rejected or the cost will outweigh the benefits. While Canadians are arguably better off day to day in this regard due to our universal health care coverage, diabetics still face steeper life insurance costs. Some good news in recent years, insurance companies have be reassessing mortality rates from common chronic illnesses and have discovered that people with conditions including diabetes, high blood pressure, asthma and some cancers, are living longer than ever before. With that, they have adjusted their life policies to give people with chronic conditions better rates particularly if their disease is under control. Here are a few ways to score cheaper life insurance for diabetics. How Diabetics Can Get Lower Insurance Rates Apply early: The less your disease has progressed, the better. Newly diagnosed, very healthy diabetics will get a more desirable rate than those who have had the condition longer and are experiencing side effects. Ace the test: You will be asked to take a medical exam, so be prepared. Be sure youre well rested, have taken all your medication, have eaten well over the previous 24 hours. Quit smoking: Smoking massively impacts your insurance rates, quitting is good for your health and your pocketbook. Shop around: Continue reading >>

Will Diabetes Affect Insurance Premiums?

Will Diabetes Affect Insurance Premiums?

I have had type 1 diabetes since I was 14 years old. I am now 36 and would like to know how diabetes would affect my premiums for life insurance. Ian, Chelmsford, Essex Diabetes: Will it affect my life insurance premiums? Ian Crowder at AA insurance replies: It looks as if life cover would be provided for you, but it would be expensive - most insurers on our panel would be looking for a loading of 250% on the premium. Also, it would be subject to a GP report confirming that the diabetes was well controlled. The price of cover depends on the applicant's age, how long they have had diabetes and whether it is type 1 or 2. For example, if a 35-year-old man or woman is applying for life cover only and they have had type 1 diabetes for a year, they would be looking at a 200% loading on the premium. If they had type 2 diabetes there would be a 100% rating. If the applicant was seeking life insurance along with critical illness cover, with type 1 or 2 diabetes the application would be declined. Peter Hallett at the charity Diabetes UK adds: People with diabetes can experience difficulties while trying to arrange life protection products. It is important that they declare their diabetes when applying for any type of life protection. People with diabetes who purchase life assurance are very likely to pay higher premiums. Those with a good medical history and good control of their diabetes may find an insurer who won't charge them higher premiums, but this is unlikely. Diabetes UK advises people with diabetes to shop around to find the best deal. Higher life assurance premiums for people with diabetes is something that Diabetes UK are continually working to change. We provide our own service through which we have managed to secure very competitive rates. Simon Moon from This is M Continue reading >>

Don't Let Diabetes Break Your Bank - Diabetes Self-management

Don't Let Diabetes Break Your Bank - Diabetes Self-management

Diabetes costs money. Medicines, equipment, health-care visits, and healthy foods can all be expensive. How do you keep from going broke with diabetes? According to a survey by Consumer Reports Health, diabetes patients spend an average of $6,000 annually on treatment costs. Thats their own money, not insurance payments. According to The New York Times, that figure includes monitoring supplies, medicines, doctor visits, annual eye exams, and other routine costs. Six thousand dollars is a lot of money, and that amount does not include the costs of treating complications. These costs can seriously impact peoples lives and interfere with treatment. One commenter wrote on TuDiabetes, Sometimes I have to choose to live without heat in the winter or electricity in order to afford my insulin and test strips. Writing on Diabetes Health, blogger with Type 1 Amy Mercer said, Many people with diabetes are making the choice to pay the mortgage instead of their medical bills. Many people are choosing to skip doctor appointments and not refill certain prescriptions. Writing in The New York Times in 2010, Walecia Konrad explained that , The inability [to pay costs of treatment] is part of the reason only 25% of diabetics are getting the care they need. A study from the University of Michigan and Stanford University in 2004 found that people with Type 2 diabetes often underuse their medications because of out-of-pocket costs. A total of 19% of respondents reported cutting back on medication use in the prior year due to cost. They did this because they had to, not to buy luxuries. According to Health.com, Of the participants, 28% said they cut back on food , heat, or other basic needs so that they would have enough money to pay for their prescriptions. Medication cost problems were esp Continue reading >>

Can I Get Mortgage Protection With Diabetes

Can I Get Mortgage Protection With Diabetes

by Tom Grant | Nov 24, 2017 | News | 0 comments Can I get Mortgage Protection with Diabetes? Premiums on mortgage protection for people with diabetes are likely to be higher than for those without the condition, some insurers may even decline your application. If you have diabetes and have applied for mortgage protection in the past then you will know how difficult it can be. This is where our team of Mortgage Protection experts can assist well help you to find the best cover for you at the right price. Luckily for you will know the insurers that are more lenient to those with diabetes. We aim to save you money on the premiums that you pay for mortgage protection by searching the market to find you the best Mortgage protection provider. Our expert advisors have experience with getting cover for clients with diabetes so we understand what you need and we are here to make sure that you get it. How does diabetes affect your mortgage protection? It is possible to get mortgage protection if you have been diagnosed with diabetes, but your premiums will depend on the severity of your condition and your HbA1c readings. Most people with diabetes who are applying for mortgage protection will find that their premiums will be loaded by the mortgage protection provider. This is why mortgage protection underwriters will assess your diabetes based on a number of key factors and measurements, such as: Details of all blood sugar tests, kidney function tests, urinalysis & cholesterol Medication (e.g. diet, metformin or insulin) You may find that certain insurance providers previously declined you for mortgage protection because of your diabetes. This does not mean that every insurance provider would decline you, so it is important to speak to one of our experts to ensure you apply to th Continue reading >>

'an Escalating Crisis': People With Diabetes Struggle To Afford Life-saving Insulin

'an Escalating Crisis': People With Diabetes Struggle To Afford Life-saving Insulin

The high cost of insulin for Jessica Price, diagnosed with type 1 diabetes mellitus as a child sometimes leaves her with difficult life choices, Wednesday, Sept. 6, 2017. Michelle Pemberton/IndyStar ​​​​​​For the first two decades that Jessica Price had diabetes, she never worried about the price of her insulin and supplies, because her mother’s insurance covered the cost. Then she switched to her employer’s high-deductible insurance plan. All of the sudden, she was facing bills of a few thousand dollars each time she went to the pharmacy to purchase her supplies for the next three months. “It’s never a question of if I’m going to hit my deductible, but a question of how quickly can I hit it,” said Price, who works for a nonprofit and has found herself having to borrow from her parents to help with the bills. “If I don’t hit my deductible until June or July, I start to worry.” ► In other Lilly news: Lilly CEO says 3,500 job cuts will make company healthier, stronger ► More: No fertility treatments, but multiple surprises. It's quadruplets for Noblesville couple. ► More: Think you need to go to ER? If your insurer doesn't agree, you could pay Increasingly over the past decade, people with diabetes such as Price find themselves saddled with hefty bills for the insulin they require to survive. Of the 6 million or people in the United States who depend on insulin, about 1.25 million of those are people who have Type I diabetes, a condition in which their pancreases don’t produce the hormone insulin, according to the American Diabetes Association. The remainder have Type II diabetes and take insulin to help out their bodies, which do not produce sufficient insulin on their own. Historically, obtaining sufficient insulin did not require t Continue reading >>

Diabetes And Life Insurance

Diabetes And Life Insurance

To find out exactly what your eligible for and at what rates please fill out a quick enquiry form or give us a call on 0800 304 7880 . Understand how diabetes can affect your life insurance, find out what you are eligible for, and make an application today. Here at OnlineMortgageAdvisor.co.uk we work with expert diabetes insurance brokers who are on hand to discuss/arrange your protection needs. These specialists arrange policies for both Type 1, Type 2, and gestational diabetics every day, having huge success in reducing monthly costs for applicants by ensuring they get the right cover with the right insurer. If you'd like some free advice today please get in touch or, alternatively, browse our guide below. Type 1 diabetesCritical illness, life cover, and income protection Type 2 diabetesCritical illness, life cover, and income protection Expert adviceSpecialists who arrange life cover for diabetics everyday Whole of marketInsurers from the whole market, both mainstream and specialist IMPORTANT: It is essential that you answer the questions as accurately as possible because this will impact the nature of the advice. At the point of application the answers to your medical questionnaire will impact the terms of cover offered if you arent open and honest with the answers your policy may not pay out upon claim. Diabetes is a condition which affects 3.2million in the UK with a further 660,000 affected without them being aware of it (according to diabetes charity Diabetes UK). A recent stat from Diabetes UK states that an individual suffering from Type 2 diabetes can expect their life shortened by up to 10 years, however an individual with Type 1 diabetes can expect their life shortened by anywhere up to 20 years! Diabetes is defined as a condition where by the pancreas doe Continue reading >>

Can You Get Life Insurance With Type 1 Diabetes?

Can You Get Life Insurance With Type 1 Diabetes?

In a previous blog I discussed getting getting Can someone with diabetes get life insurance or mortgage protection in Ireland? Heres a typical email from a worried client: Hello Nick, I have type 1 diabetes and I cant get life/mortgage cover because of my hb1ac reading (over 8). Im a healthy, non-smoker and wondering if you can help me get cover. Ta, Rory Getting life insurance for Type 1 Diabetics in Ireland is difficult BUT ITS NOT IMPOSSIBLE. Heres the bones of a recent casewhere we managed to get a lower price for our client: Male 40 years of age Diagnosed at age 26 Latest blood pressure 131/77 Latest cholesterol 4.06 Latest Hb1Ac reading 80 no other health issues. loading of 150% without the need for a medical report. Instead the client completed our diabetes questionnaire in great detail and supplied a letter from his consultant. The best quote he had received elsewhere had a +250% increase. What are the chances oflife insurance with type 1 diabetes? The likelihood of getting life insurance or mortgage protection with Type 1 diabetes depends on Usually the increase in premium is 150%+. e.g If a non diabetic can get cover for 50, you will pay 125 per month for the same amount of cover. What about serious illness cover for Type 1 Diabetics? Usually the life insurers are UNABLE to offer specified/serious illness cover (but you can get Is it the samefor income protection with Type 1 Diabetes? Afraid so,a life insurance company wont offer income protection to someone with T1 Diabetes. What is the application process for life insurance with type 1 diabetes? The life insurance company will then request a Private Medical Attendants Report from your doctor* underwriters will review your medical evidence and make a decision. *If you can get a copy of your latest consultant Continue reading >>

Diabetes And Life Insurance

Diabetes And Life Insurance

Our guide will answer your questions on how suffering from diabetes affects the cost of life insurance. Does having diabetes mean I can’t get life insurance? Although diabetes is a serious medical condition, it doesn’t mean those who suffer from it can’t take out a life insurance policy. The cost of life insurance for those who do suffer from diabetes is generally dearer, as they are considered a higher risk for insurance companies. That being said, it doesn’t mean premiums will be sky-high. By comparing and shopping around, those with diabetes can still find themselves a good deal - especially if it can be demonstrated the condition is carefully controlled. Applying for life insurance with diabetes If you suffer from diabetes, insurers will want to know details on some of the following: Date when you were diagnosed Type of diabetes (1 or 2) Medication (metformin, insulin) Blood sugar levels Body Mass Index, along with waist, height and weight measurements Diabetes-related ailments (nerve damage, circulation problems) You will probably be requested to have a medical and to provide comprehensive details of any treatment through your GP. If you bought life insurance before being diagnosed with diabetes, then the good news is that that you will be able to keep that policy on the same terms even though your health situation has changed. What if I can’t get a policy? Although insurers will be prepared to offer cover to diabetics, not all of them will as some consider the risks of a claim to be too great. If you bought life insurance before being diagnosed with diabetes, then the good news is that that you will be able to keep that policy on the same terms even though your health situation has changed. However, your chances of being accepted for cover will be higher Continue reading >>

Case Studiesmortgage Protection Insurance Pre Existing Medical Conditions The Insurance Surgery

Case Studiesmortgage Protection Insurance Pre Existing Medical Conditions The Insurance Surgery

Please find below details of just some of the hundreds of clients we have helped over the last few years: Brian. aDiabetic (age 46, nonsmoker), and his wife Pam (age 47, none smoker)... ..approached us when their mortgage company wanted them to take out 2 single life policies for a premium of 160 per month to cover their mortgage of 20,0000 over the next 20 years. We obtained joint cover for only 85 per month - a saving of over 45%. Tracey (age 37, nonsmoker) from Derbyshire suffers fromCrohn's Disease. She already had a life insurance policy for 20,0000 over a 25-year term. Tracey contacted us to see if we could reduce her premium. By using The Insurance Surgery she obtained the same cover for 16% less cost. Darren from Hertfordshire had been refused life cover following diagnosis withCancer in 1995. We obtained 10,0000 of life insurance to protect his mortgage. Adrian, a diabetic withhigh blood pressure was delighted when we found him life insurance at a competitive premium. He was even happier when we continued our search and saved him an additional 20%. Jen (age 39, nonsmoker) had thyroidcancer in 2001 and enquired regarding life insurance. She was declined by several companies and offered terms of 104pm from a leading insurer. By using The Insurance Surgery we managed to obtain the cover of 45000 over 20 years for 7.50 pm a saving of nearly 100pm! Thomas (age 22, nonsmoker), who suffers from aKidney Disorder was declined cover by various insurers. We found his insurance for 107,0000 over 35 years at an affordable 17pm. Paul (age 29, nonsmoker), adiabetic, and his partner Mandy (age 30, nonsmoker) had been declined Critical Illness Insurance on several occasions. By using The Insurance Surgery they not only received a more competitive quote for their life insurance Continue reading >>

The Guide To Keeping Your Home Through Debilitating Disease

The Guide To Keeping Your Home Through Debilitating Disease

Successful Financial Strategies for Your Family The Guide to Keeping Your Home Through Debilitating Disease Step Four: Seek Out Condition-Specific Help Chronic, and often debilitating diseases, such as cancer, diabetes, heart disease, HIV/AIDS, kidney disease, and many others can be devastating for those who have the illnesses and their families. Not only are the physical symptoms and side effects of these diseases difficult and life altering, but treating them can take a huge financial toll on families. In fact, according to Bankrate.com , treatment of these and other chronic illnesses makes up more than 75 percent of the nation's annual medical spending. Unfortunately, often, the financial burden placed on patients is too great, and they aren't able to keep their homes. In fact, according to a study reported in the Sun Life Financial Benefits Planning Report (Spring/Summer 2012), almost half of all foreclosures occur due to a homeowner's medical problems. Following is a resource guide to provide those suffering with a debilitating disease with the information they need to ensure they're able to keep their home as they seek and receive treatment. Will you be able to keep working? For how long? In order to plan financially, it's important to know how long you'll be able to continue to work while fighting your disease. Below is a selection of resources, listed by disease, with information on how long you should expect to be able to work and what to do when you no longer can. There may come a time when you will not be able to work. When that happens, you can apply for disability benefits. The Social Security Administration provides detailed information in their guide on disability benefits . What will your insurance cover? Through their program, 360 Degrees of Financial Continue reading >>

Some People Spend As Much On Insulin As Their Mortgage And Drugmakers Are Taking Note

Some People Spend As Much On Insulin As Their Mortgage And Drugmakers Are Taking Note

Some people spend as much on insulin as their mortgage and drugmakers are taking note For people living with Type 1 diabetes and some who live with Type 2, injections of insulin a hormone that helps people absorb and process the sugar in food are a necessary part of daily life. And for many, that's becoming a financial hazard. The cost of insulin has jumped by as much as 300% in recent years. Drug-price hikes including the cost of insulin have come under scrutiny from the public and politicians including Senator Bernie Sanders. Now, these companies are starting to take note. Last month, Danish pharmaceutical company Novo Nordisk said it will limit all future drug list price increases from the company to single digit percentages. Now, its rival Eli Lilly is boosting its coupon offering for people with high-deductible insurance plans. In September, Business Insider spoke with families on these plans, which require a large out of pocket outlay by the patient before insurance kicks one. They are particularly vulnerable to price hikes. One person said they were spending as much on supplies as their monthly mortgage payment . Lilly's offering the coupons through an app called Blink Health, which lets users pre-pay for your prescriptions to lock in discounts . Coupons like Lilly's can help patients who are paying for drugs on their own, but they've also been dismissed as way for companies to keep raising list prices and pushing up the cost to insurance companies and hospitals that are the biggest spenders on pharmaceuticals. Unlike Novo Nordisk, Lilly didn't commit to any caps on drug price increases, and neither company has lowered their list prices, or the prices set by the drugmaker before any rebates or discounts are applied. Here's an example of how much the list prices Continue reading >>

Life Insurance For Type 1

Life Insurance For Type 1

D.D. Family T1 for 72 years, here to help Life insurance for people with diabetes can be hard to get. Have you had that problem? Being in a group policy, with no physical exam required is a blessing! In the late 1970s I applied for mortgage insurance. I was required to have a doctor examine me. There were no meters for testing blood sugar back then. He gave me a strip of tape, and told me to to pee on it in the mens room nearby. The tape turned dark green, indicating high urine sugar. I was turned down for that reason. There was no other physical exam required. That doctor walked outside with me, and we had a conversation. I had been type 1 for 30+ years, and he said I should get my will together. He told me about one of his patients who had been T1 for 20 years, with no complications. Within the following year he developed bad complications and died. The doctor said that could happen to me. I guess he thought he was doing me a favor. Later on, I went to a Metropolitan Life Insurance building and was accepted after a brief discussion, filling out a form, and giving the name of my doctor. It was so easy! I was amazed at the tremendous difference in the two companies. I realize this was mortgage insurance, and not life insurance, so that may help explain why I was accepted by Met Life. Now I have been T1 for 69 years, and I do not have any diabetes related complications except some mild nerve damage. By the way, our mortgage was paid in full in 1995. Type 1 for 72 years. Using the MM 630g pump, and Dexcom G5. A1c=6.1 D.D. Family Glucose Disregulation since 2005 Things have changed in the life insurance area. Understand, I am not an expert. It is all highly variable, but for most people with reasonable levels of control and no complications you can get life insurance. The Continue reading >>

Diabetes And Discrimination

Diabetes And Discrimination

I have read most of your comments and I agree that we live in a world of stress ,but believe me I am here to help Diabetes is a fact of life for most people ,to the person that said their life cover had increased by four times I found it appauling .My friend who works as a financial advisor told me he encounters the same problem . But since putting his friend on 3 products his friends diabetes is under control ,and life companies have sat up and took heed .I myself use these products each day and they are endorsed by noble prize winning doctors in the US .As we know diabetes can also effect the heart etc . To find out more e-mail me [email protected] Recently arranged my first Mortgage. I was horrified when my Life Policy quadrupled after declaring I was a type 1 diabetic. I imediately got on to the Diabetes Federation and they reccommended ERM Financials as a Diabetic Friendly Insurance provider. I did this and have made a substancial saving on my monthly life policy repayments. ERM also made sure the policy was for the full term of the mortgage with no review after 10 years. I was wondering if i had diabetes...I got some spots on my arms and legs a couple months back that itch quite a bit. Well the ones on my arms are pretty much gone but the ones on my legs are better but still visible. And i thought it was ringworm but if it was it woulda been gone by now....and only other thing it might be is diabetes or allergies. And i was wondering if this sounded like a symptom of diabetes? Thought i should get an opinion before wasting a possibly unnecessary trip to the doctor. Reply to all who have replied to me.sorry about the delay.I can understand all of your points and i do admit my mortgage protection cover has been declined for other reasons other than Continue reading >>

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