It is possible to get cover for type 1 or type 2 diabetes in Australia when applying for a fully underwritten life insurance policy. However, the increased risks associated with diabetes mean that cover may come with a premium loading.

Here's how to get life insurance as a diabetic, including limitations and factors involved in the application process.

Compare life insurance providers for diabetes

Finder Score - Life Insurance

Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 30 products and gave each one a score between 1 and 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read full Finder Score methodology

What do insurers look at when assessing people with diabetes?

An insurance underwriter will assess how controlled your diabetes is and also the type of diabetes, how it is treated, age of diagnosis and any medical complications that could impact your level of risk.

• How does the type of diabetes affect my life insurance?

  If you have type 1 diabetes then you may pose an increased risk to life insurers, as type 1 diabetes can be more serious over a long term and more difficult to treat than type 2 diabetes.

• Age you were diagnosed with diabetes

  The age that the applicant was diagnosed with diabetes can also be a contributing factor to the premium payable. Someone that was diagnosed at a younger age is more likely to suffer complications later in life. Type 1 diabetes is more prevalent among young people.

• Alcohol consumption

  An underwriter will take into account if there is a presence of excessive alcohol intake.

• Family history

  If a member of the applicant's family has died before the age of 60 as a result of cardiovascular-renal disease, an additional loading will be applied.

• Control

  The control of the applicant's glucose levels will also be assessed. If it is not satisfactory the diabetic rating may be increased.

• Complications

  Diabetes can cause many medical complications including blindness, kidney dysfunction and peripheral vascular problems. An underwriter will assess additional conditions suffered by the applicant and will require evidence of this from a treating doctor.

Example: Questions asked during the application process

As a longtime diabetic Jason applied for life insurance anyway. Some of the questions Jason had to undergo included:
- What type of diabetes were you diagnosed with? Is it type 1 or 2, gestational diabetes, diabetes insipidus, glucose intolerance or insulin resistance?
- When was the diagnosis made?
- How is the condition treated? Is it treated with diet, insulin injections, oral medications or other? What is the medication and dosage amount, if applicable?
- Have you experienced any complications including kidney or nerve problems, high blood pressure, vision impairment or reduced blood circulation as a result of diabetes? Have you ever experienced a diabetic or insulin coma or required hospitalisation because of the condition?
- When was the condition last checked and what were the results of the tests?
- What were the results of your most recent glycosylated haemoglobin test?
Provide the contact information for your doctor or doctors.

* This is a fictional, but realistic, example.

What information will your insurer require?

• • • Medical attendants report will be required for both type 1 and type 2 diabetes
    • Diabetic questionnaire required from applicant to determine if they understand the condition and have been cooperative with a certified medical practitioner
    • Questionnaire will usually be required from the applicant's medical attendant
    • The applicant may also be required to undertake an ECG and chest X-ray if the sum insured is substantial

Diabetes in Australia

Diabetes in Australia is on the rise and affects roughly 1.7 million Australians. Diabetes costs Australians an estimated $14.6 billion per year.

According to Diabetes Australia, 280 Australians develop diabetes every day, which is 1 person every 5 minutes. And the trend doesn't show any signs of slowing. New cases of type 2 diabetes steadily increased between the year 2000 and 2009.

In 2013, there were 2,323 new cases of type 1 diabetes in Australia, equating to 11 cases per 100,000 population.

The incidence rate for type 1 diabetes:

• • • Is higher in males than females (12 compared with 9 per 100,000 population)
    • More than half (52%) of all new cases were for people under 18 years of age
    • Peaked at age 10–14 years (33 per 100,000 population)

Trauma insurance and diabetes

Most comprehensive trauma cover policies will offer coverage for applicants who suffer from diabetes. As with life cover, the insurance provider will assess each applicant against their criteria to determine the level of risk they carry. Premiums will depend on the age the person was diagnosed and the level of control of the condition.

Trauma cover can provide great financial support if a policyholder is diagnosed with diabetes and it meets the conditions as defined by the provider. Trauma cover will pay out as a lump sum benefit that can be used to help cover medical expenses, mortgage repayments and any reduction of income that may occur.

What exactly is diabetes?

Diabetes is a condition that can affect many parts of the body. It stems from the body producing an insufficient level of insulin, which allows the body to transform glucose into energy. The inability to regulate blood glucose levels can result in a dangerous overload of sugar in the person's blood stream.
This means that when people with diabetes eat foods that contain glucose their bodies can't convert it into energy. Foods include:

How is type 1 diabetes different to type 2 diabetes?

• Type 1 diabetes
• Type 2 diabetes

Speak to an insurance specialist to help you find cover

Frequently asked questions

• Can I get life insurance if I have diabetes?

  Yes, there are many life insurance providers in Australia that will cover you if you have been diagnosed with diabetes. To make sure you're covered, it's very important to let your insurer know at the time of application and it is likely that you will have to complete a medical questionnaire or an examination.

• Do I need to tell life insurance I have diabetes?

  Yes, your chosen insurer will need to know about all of your existing medical conditions at the time of application to decide if it will insure you, and use this information to work out your premium. The insurer may decide to put a restriction or exclusion on your policy, depending on how well they deem your diabetes to be under control.

• Can you get life insurance with diabetes and high blood pressure?

  Yes, having both diabetes and high blood pressure doesn't necessarily mean you'll be turned down for life insurance. Many providers will cover you but it's important to disclose all of your existing medical conditions when you apply.

• Do I need to tell insurance about type 2 diabetes?

  Yes, type 2 diabetes is considered a pre-existing medical condition and it's important to disclose any that you have when applying for life insurance.

• Is diabetes considered a critical illness for insurance?

  Critical illness insurance doesn't usually consider diabetes to be a critical illness on its own but complications that arise from diabetes may be considered. This can include cardiovascular disease, stroke and limb loss.

• Does diabetes disqualify me for life insurance?

  Not necessarily. Many life insurance providers in Australia will cover you if you have been diagnosed with diabetes provided you disclose this at the time of applying.