young man testing his blood sugars to manage his diabetes

A type 2 diabetes diagnosis can feel overwhelming, to say the least.

And while many of us may have a general idea of what this disease is, there’s a lot of misunderstanding surrounding what it means for the future for a person newly diagnosed with diabetes, and their families.

Life goes on, jobs have to be kept, mortgage repayments made and the future just looks a little more complicated.

Jump Ahead

Type 2 Diabetes is a condition where your body struggles to regulate blood sugar levels effectively. This happens when your cells become resistant to insulin (or when your pancreas doesn't produce enough insulin), the hormone responsible for moving glucose (sugar) from your blood into your cells to be used as energy.

Now, here's the good news: Type 2 diabetes is manageable. With the right knowledge, lifestyle adjustments, and support, you can live a full life.

The big question you probably came here to answer?

‘Can I get Life Insurance if I have diabetes?

The short answer is yes – most people can get life insurance with diabetes.

Getting Life Insurances for people living with diabetes isn’t always straightforward, because each individual experiences the condition with a different level of severity. That’s why you use an expert from the team at Unusual Risks Insured, to guide you through the process of getting your life insurances sorted, when you have a complex health condition or an unusual occupation (or both).

So you’re newly diagnosed with diabetes?

Priority 1 - Get to know your blood glucose levels

Know your HbA1c levelMonitoring your blood glucose levels becomes your top priority after a diabetes diagnosis.

This essential part of managing your diabetes allows your doctor to better understand how your medication, diet, and exercise activity as a whole, affect your blood sugars so they can create a health management plan for you.

  • Type 1 diabetics, who are usually diagnosed early in life, are more likely to have complications related to the disease as they age, simply because they have been living with the disease longer.
  • Type 2 diabetes is often caused by and/or causes other serious comorbidities such as obesity and cardiovascular disease, which also puts sufferers at higher risk than non-diabetics.

Priority 2 - Get to know Sapience Financial

When you're ready to get your Income Protection and Life Insurances assorted, connect with Sapience Financial - specialists in helping people with complex health conditions get their life insurance sorted.

The part we play in your support team

Most people living with diabetes have struggled to find Life Insurance and Income Protection cover at affordable rates, due to the additional health risks they face.

That's why you'd use a financial advisor from the team at Sapience Financial to help guide you through the maze that can be, ‘Getting your Life insurances sorted when you're living with diabetes’.

Over the years Sapience Financial has helped many people with diabetes to find life insurance and Income Protection insurance.

Did you know that premium costs for Life Insurance and Income Protection cover can vary significantly between insures, and each insurer has very different rules about insuring a person living with diabetes?

Getting your Life Insurances sorted when you’re living with type 1 diabetes

Every day, more than 300 Australians will develop diabetes (that’s one person every five minutes) with almost 120,000 Australians developing diabetes in the past year.

About 130,000 people in Australia live with type 1 diabetes.

  • Life insurance for type 1 diabetics is available but usually limited to Life cover alone. This is because type 1 diabetes, can have serious health consequences from a young age so the impact on individuals is significant, as treatment involves regular injections of insulin, (or the use of a permanent insulin pump).
  • The insurance underwriting process can take a little more time because we usually request a report from your GP. The good news is this can also indicate that Accident Total Disability and Income Protection cover might be available too.

Getting your Life Insurances sorted when you’re living with type 2 diabetes

Life Insurances and Income Protection cover for type 2 diabetics is often more straightforward.

About 1.2 million people in Australia live with type 2 diabetes.

  • About 1.2 million Australians have type 2 diabetes where the body simply doesn’t produce enough insulin, (or the cells no longer react to insulin). In this instance, treatment can involve a change of diet or medication to control the level of glucose, with insulin injections only necessary if the condition worsens over time.

Connect with Sapience Financial

  • Tell us your height, weight and HbA1c reading, and then ask for an interim life insurance quote, so you can see what insurance cover is possible for you now, and what’s possible for you on the horizon when you have your HbA1c under better control.

Once your diabetic health becomes more predictable (your Hba1c reading is usually the best indicator) and your GP has had the chance to develop a personalised health management plan for you, we can then look to further improve your insurance options.

Here is a quick checklist for the information you’ll need to share.

  • When you were diagnosed, and the date of your last HbA1c review.
  • Whether your treatment includes insulin injections or an insulin pump.
  • Details of any hospital admissions, excluding regular diabetic clinic appointments.
  • Results of your latest HbA1c test, which indicates the blood glucose levels within red blood cells.
  • Any additional complications such as kidney and eye problems, abnormal urine test results, and any symptoms such as numbness, tingling, or loss of sensation in fingers, toes or feet.

Did you receive a 'surprise diagnosis'?

We find many people have received a surprise diabetes diagnosis due to a growing complex health problem and only then have they been tested for diabetes. This means that, for many people, during the first 6 months of diagnosis, their health can be ‘less controlled than they would like’. This means insurance can be more expensive (or sometimes not available) until certain health targets are met.

The majority of our newly diagnosed clients improve their health over the following 6 months after their initial diagnosis and by doing so reduce the cost of their insurances (or improve their chances of getting better quality insurance cover) sooner.

Where to from here?

Newley diagnosed?

Stay connected to your GP and diabetic educator.

Living with Type 2 diabetes is a lifelong journey and a surprise diagnosis can mean you’re having to take some additional lifestyle changes to bring it under control. Be patient with yourself as you learn to adjust to living with the normal ups and downs along the way.

Have you been living with diabetes for a while now?

Connect with Sapience Financial, tell us your height, weight and Hba1c reading, then ask for an interim insurance quote so you can see what insurance cover is possible for you now.

Stay connected with your Sapience risk insurance advisor.

Our part to play in your journey is to help you get your Life Insurances sorted, even when you are living with diabetes, so you can protect your income, safeguard a home mortgage and look after family, partners and whoever may depend upon you financially.

Then you can get on with living a bigger life.

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