Type 1 Diabetes – Is a GP medical report needed to get Life Insurance?
Most Insurers will want to write to your GP for a medical report if you have diabetes – but not in all cases!
We were recently approached by a client who was a Type 1 Diabetic. He was diagnosed at age 15 and has been insulin-dependent ever since. He is now 48 years old and a non-smoker.
He told us that he wanted to arrange a life insurance policy that would provide a lump sum for his wife and family if he was to pass away before retiring at the age of 67.
His diabetes is well controlled and his last HbA1c reading was 54 mmol/mol (7.1). An HbA1c test measures how much haemoglobin in the blood has become glycated.
People with diabetes are at risk of long-term problems associated with their eyes, kidneys, heart, brain, feet, and nerves. More information about this can be found on the NHS website.
If you are planning on applying for life insurance, any insurance company will ask you detailed questions about these issues. In most cases, but not all, the insurer will also want to write to your GP for a medical report after an application has been completed.
Our Process and advice
At Future Proof, we have access to specialist insurance companies that don’t deal directly with the public. These companies offer more specialised policies, designed to provide cover where other major providers can’t.
Our research process involves us contacting many insurers to find out the best possible outcome for our clients. Which avoids any nasty shocks later on during the underwriting process.
Would the insurer add a ‘loading’ to their standard premium? (this is an additional sum charged on top of their standard monthly premium to reflect their additional risk). Or, exclude a condition?
Might they decline the application? We want to avoid wasting time by making applications that may be declined.
We have up to date knowledge of the ever-changing landscape of underwriting for all providers in the UK. Future Proof is committed to thorough research so that you don’t have to. What’s more, our advice comes at no obligation and with no hidden costs. You don’t pay us directly but we do get paid by the insurer if you decide to start a policy with them.
In this case, we were told by some insurers that they would increase their standard premium by 200%, and others said they would increase their premium by 150%.
The cheapest option for a £100,000 life insurance policy for our client would be £39 per month (underwritten) – but subject to a report from the GP.
However, our client opted for the next cheapest provider at a monthly premium of £41.37. He wanted to get the cover in place as soon as possible and did not want to incur any delays, a GP report can take a few weeks to obtain. After completing the application form with him over the phone, the insurer said they were happy to offer him the cover without the need for a report from his GP.
Our client is happy to have a new life insurance policy, which was sourced and put into force within hours of his initial enquiry.
All our case studies are based on actual client scenarios, many of which pre-date 2020. We are confident that the acceptance decision made by the insurers would still be offered. Although it is likely that the rates will have changed. Your own circumstances will determine whether what amount will be payable by you and would be fully discussed with you before any plan is implemented.
Please note that any premiums mentioned are indicative only and based on this specific case study/ example. Which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.
Case ref: 117333262
Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.
Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!
An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.
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Interested in related stories?
Take a look at our handy guides ‘What Cover is Right for me?’
Do you suffer from a medical condition and concerned you can’t secure Life Insurance? Please view our ‘Medical Guides’ for further information.
Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success. All applications are subject to underwriting.
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