Life insurtech Bluezone plans to launch a life insurance product for people with Type-2 diabetes in the first quarter of next year. The London-based company has secured a global reinsurer and obtained FCA authorisation for the launch, having previously raised £1.5mn in seed funding led by Insurtech Gateway earlier this year. The insurtech is focused on life insurance policies for people with chronic illness, who it claims regularly struggle to get affordable cover. According to Bluezone, the prevalence of chronic health conditions is rising, with one in two people worldwide now thought to be living with a condition. Traditional underwriting processes are outdated, Bluezone says, making it...
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When you have a chronic illness, you're 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 it's a serious, progressive one such as Type 2 diabetes. A Lack Of Coverage Where It's Most Needed According to a 2012 survey, roughly half of Americans with a chronic condition don't have life insurance at all. Why? Because they're afraid they'll 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. A...
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Diabetes is a common condition, estimated to impact over four million people in the UK [1]. If you are one of the four million, you may be wondering whether you can get life insurance, or even critical illness insurance? Here we answer your questions and show you how you can get protected. Content Can I get life insurance with diabetes? Most people with diabetes, both type 1 and type 2, can get life insurance, as long as they can show that their diabetes is under control. If you have diabetes you will know that it’s quite a complex condition, affecting multiple areas of the body. This means that when you apply for a life insurance policy, the insurer will ask lots of different health...
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Having good health insurance coverage is important. Especially if you have diabetes. Medical expenses for people with diabetes are twice as high as for people without diabetes. So finding good health insurance is key to managing and treating this chronic disease. Luckily, the Affordable Care Act has given diabetics greater access to cheaper preventive health care plans, including Medicare and Medicaid, making it easier to get consistent treatment and support for managing Type 2 diabetes conditions and preventing the disease altogether. Here are some tips to get the best coverage, and what to look for when evaluating plans for diabetes. Where To Get Health Insurance If You Have Diabetes...
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Life insurance is a safety net for when the worst thing happens. But all too often, those with chronic health conditions find themselves out in the cold. Either the premiums are too high, or, they are told they are simply uninsurable. This is despite the fact that their increased vulnerability means they, more than most, require the backup of a solid life insurance policy. One keen medic, inspired by personal experience has decided to challenge that view and create a new insurance service for those people that need it most. Dr Karan Mehta recently launched Bluezone (named so because the world’s healthiest hotspots are referred to as blue zones) using the latest technologies to enable...
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Health Insurance For Diabetics Health insurance is a necessity in the time we are living in. There are a host of ailments that can cripple our lives in many ways. One disease that can have a big impact on your life is diabetes. It is a chronic disease in which the body finds it difficult to metabolize the sugars and starch, leading to a build-up of sugar in the blood, which can have a detrimental impact on the patient's health. There are two types of diabetes – Type 1 and Type 2. In Type 1, the pancreas is attacked by the immune system and renders it unable to produce insulin, and in type 2, the pancreas itself cannot produce insulin to metabolize the sugars in the body. Over 77 million...
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If you have a preexisting condition, it's natural to worry you may not qualify for life insurance. That fear may be especially acute if you have diabetes. However, life insurance for people with diabetes remains a possibility. Many insurers take a closer look at people with diabetes, and depending on various factors, you may still qualify, even if it's at a higher premium. So, before you dismiss the possibility of life insurance for people with type 1 diabetes or type 2 diabetes, take some time to understand what insurers look into and explore your potential options. Here's what you should know about life insurance for people with diabetes. The Factors Insurers Consider Health plays a...
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Being diagnosed with a chronic health condition is an experience that can only be understood if you have gone through it yourself. There are a million thoughts that run through your mind, and it is a complex topic that encompasses so many different aspects of your life. Having a preexisting condition like diabetes is both physically and mentally taxing on the patient. Affected persons are constantly fretting about how many years the disease is taking off of their life. They think about whether they need to worry about how long they will be around to provide financially for their spouse and children. Term insurance for higher risk people can be affordable if you can prove to your life...
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Compare life insurance for diabetics Having a long term health condition can be worrying, and many people wonder if they will be able to get life insurance. It is only natural that people want to protect their families and loved ones from financial hardship in the event of their death. Life insurance for diabetics means that you can make sure your family can pay funeral costs or cover the expense of a mortgage if you should pass away. If you want to find the right diabetic life insurance for you, you can compare quotes from UK providers. This will give you the chance to save money as well as the chance to find the best insurance for you. Can diabetics quality for life insurance? Yes, lots...
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Introducing a tailored Life Insurance policy, exclusively for diabetics At MIAB, we pride ourselves on our industry knowledge, and ability to provide bespoke insurance and expert advice. Working with a variety of insurers, we strive to find a policy most suitable for your needs. Get a quote Typically, a number of insurers will consider diabetic clients, however this cover often relies upon a report from your GP, that can take weeks to be sent through and lengthening the time before the insurer can offer you terms. With these policies, terms are always offered with a percentage increase of the original quoted premium, the minimum usually around 50%, though as much as 300% of the original...
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