Life Insurance and Income Protection for Diabetics

Getting life insurance and income protection as a diabetic in Australia has always been a difficult task. At Curo Financial Services, we specialise in assisting those with pre-existing medical conditions, allowing us to present you with the best chance of securing these insurances. Curo means ‘to take care of’ in Latin, because we care about your health and looking after your financial security. We offer practical insurance advice that guides you through the process, improving your chances of being accepted.

Our primary objective is to help you understand the life insurance and income protection options that are available to you. We do this by utilising our years of experience and significant expertise in assisting those with Type 1 and Type 2 Diabetes to achieve outcomes that many others are unable to.

What is Diabetes?

Diabetes is an illness that is a result of the body being unable to produce enough insulin, sometimes producing no insulin at all. Insulin is responsible for converting sugars in your body into energy. The consequence of this is that when your insulin levels are too low, sugars taken in through yogurt, milk, starchy foods and fruits cannot be converted into energy.

The two main types of Diabetes are Type 1 Diabetes and Type 2 Diabetes.


Type 1 diabetes is also known Juvenile diabetes. It mostly develops in individuals below the age of 30. Type-1 diabetes is brought about by the pancreas failing to generate adequate insulin for the body to function normally. Type 1 diabetes is considered to be more dangerous that Type 2 Diabetes and it is more difficult manage. Type 1 Diabetes is far less prevalent than Type 2 Diabetes, with only 10-15% of diabetics in Australia being Type 1. Treatment for type 1 diabetes typically involves regular monitoring of blood-sugar levels and the adminisitration of insulin where neccesary.

Type 2 diabetes is more commonly developed as an adult. This type of diabetes often occurs as a result of  lifestyle factors that lead to the pancreas becoming resistant to insulin production or a the inability to produce sufficient insulin. issues. Occasionally, it can be as a result of uncontrollable factors like family genes or ethnicity. Monitoring type 2 diabetes generally includes regular blood tests while treatment typically involves lifestyle changes and medication.

What Insurers Look at While Assessing your Insurance Application

Diabetics are at higher risk of certain medical complications than those without the condition. Insurers will look at how you have controlled your diabetes in the past as a means to determining the risk of you experiencing one of the many possible complications.

These are some of the most important factors that will be considered by the insurance company:

  1. Type of diabetes – Type 1 Diabetes is viewed more harshly by insurers due to the fact it requires a greater level of monitoring and is harder to control. Diabetes type 2 is much simpler to manage and therefore less risky. Those who have Type 1 Diabetes are more likely to experience complications than those with Type 2 and will therefore find it more difficult to obtain life insurance and income protection.
  2. Age – Diabetics are more likely to experience complications as they get older, increasing the risk to the insurer.
  3. HbA1c result – Your most recent HbA1c reading is often considered as the ‘gold standard’ when determing the level of control someone has over their diabetes. As a result, insurers will always look to confirm your historical HbA1c results before being able to determine whether products like life insurance and income protection are available to you.
  4. Time of diagnosis – Often, the younger you are at the time of diagnosis the greater your chances of experiencing a complication later on in life. As a result, if you have had type 1 or type 2 diabetes for a very long time, you will often be deemed to be of greater risk to the insurance company.
  5. Height & Weight – These details are used to gauge the kind of lifestyle you lead. Your body mass index (BMI) will determine whether you are overweight, underweight, or healthy. Someone that is overweight and diabetic will be considered to be a higher risk than someone who is of a healthy weight with diabetes.
  6. Blood pressure –Blood pressure is also a measure of your general health. People with high blood pressure are considered to be at higher risk of diabetes related complications than those with normal blood pressure.
  7. Family History – Insurance companies will use your family history to assist in determining the likelihood of you remaining healthy in the future.. A family history of strokes or heart attacks will classify you as a higher risk than a diabetic who has no family history.

Essentially, a person with diabetes that is looking for Life Insurance and Income Protection, should have the following to best position yourself:

  • An HbA1c level be between 6 and 6.5
  • A normal Body Mass Index (BMI)
  • Be a non-smoker
  • Normal cholesterol and blood pressure (it is not an issue if you are taking medication to control these).

Possible Diabetes Complications

Unfortunately, Diabetes can result in a variety of different complications and side effects. Complications and side effects of diabetes are often an indication of poor control. If you have experienced these side effects, it becomes significantly more difficult to obtain products such as life insurance or income protection.

  • Kidney failure – Uncontrolled levels of glucose can lead to damage of the capillaries that are responsible for the purification of your blood. The consequences of this can be very significant and the condition is often referred to as diabetic nephropathy.
  • Nervous system disorders – Since the circulation of clean blood is altered within the kidney; there might be a reduced blood circulation in the lower body. This eventually affects the functioning of the nervous system.
  • Stroke – Your chances of having a stroke can increase by up to 50%.
  • Cardiovascular complications – This is brought about by the presence of impure blood being circulated throughout the body.
  • Diabetic Coma – This is a life threatening complication of diabetes that results in a loss of consciousness

This list of complications is not exhaustive but is rather a summary of some of the most common ones. All of these conditions present different magnitudes of risk to the insurer. Whether or not the you have any of the above conditions will significantly impact the insurance coverage available to you.

 Why Use Curo Financial Services?

At Curo Financial Services, we believe that all Australian’s deserve the highest quality insurance advice and we are dedicated to ensuring that you protect the financial future and that of yourself and your family. We are able to provide you with quality insurance advice as well as help you obtain life insurance, disability (TPD) insurance, income protection and trauma insurance that you require as a diabetic.

In order for us to assist you further,  we will need to spend time speaking with you so that we can get a better understanding of your medical condition and your circumstances. In doing this, we will need to review copies of recent blood tests and medical reports. If you would like to speak with one of our advisers and attain an assessment, please call us on 1300 665 356 or click here to fill out a contact form.

General Advice Disclaimer

General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

Diabetes Insurance Questionnaire

Provide us with some details regarding your diabetes so we can investigate your options.