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Life Insurance
Can I Get Life Cover If I have diabetes?
Can I Get Life Cover If I have diabetes?
05 Nov 2019

Many people automatically assume that if you have diabetes, life insurance is out of the picture. That isn’t necessarily true.

Many individuals with diabetes can take out life insurance policies from a number of companies. More than that, they can even come with affordable premiums! So what does a person with diabetes need to know about life insurance before they start hunting for a policy?


The first thing to keep in mind is that your diabetes history will come up during the quoting process, regardless of whether you have type 1 or type 2 diabetes. Don’t be nervous when the sales agent asks you about your health history (and even about your diabetes specifically) – the question isn’t there to catch you out or to make them decline your cover. Rather, it’s so that your insurers have an accurate view of your current health.


It’s vital when the sales agent enquires about your diabetes that you are completely honest about it. Telling ‘white lies’ or omitting important truths might seem like it would benefit you in the short run and give you better rates. But, it can harm you and your loved ones in future. Essentially, if you are not honest with an insurance company, they have the right to refuse to pay out any claims should you pass away. Nobody wants their loved ones to go without once they’re no longer around to provide for them! So, a better strategy is to be honest about your health and get quotes from multiple insurers to find out what provides the best value for you and your family.


The second thing is to keep in mind that, depending on the insurance company and their individual underwriting rules, some insurance companies may offer you cover while others may not. This decision may not even be related solely to your diabetes, but could be dependent upon a combination of factors. These factors include things such as how well-managed your diabetes is, your history of recent hospital admissions, your smoking status, or your body mass index (BMI).


Will your premium be more expensive? It’s likely that you will experience a slight rise in rates compared to someone without diabetes. However, it doesn’t have to be unaffordable. The higher premiums simply cover the increased risk that you present with having diabetes. If you are otherwise healthy and not experiencing any of the preventable complications of diabetes, this can often be a minimal charge.



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Terms and conditions apply. Eligibility, cover and benefits are determined on individual risk profile. MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer. MiWayLife is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06