Can I get Mortgage Protection with Diabetes?
Mortgage Protection is a form of Life Insurance cover which is paid off in the event that you or a spouse member die before your mortgage is paid off. It is very important that you take out the right cover at the right price and it is compulsory for all residential mortgage holders to have Mortgage Protection Insurance in Ireland. Getting Insurance for type one diabetes is more difficult to get than diabetes type 2 but it is not impossible. The premiums on mortgage protection for people with diabetes will likely be a lot higher than those who do not have diabetes condition. It is difficult but by no means impossible to get insurance if you have this condition.
Insurance companies will ask you to provide medical details of your condition and your treatment with regards to your diabetes and though, premiums are higher than normal, there is cover available for diabetes.
How do insurers determine the cost of your Mortgage Protection Insurance?
Many insurers will assess the condition of your diabetes and the price based on a number of reasons including:
- Your Age
- Type of Diabetes
- The Length of time you have had the condition
- Do you Smoke
- Other health issues
- Details of your kidney function tests, cholesterol, and blood sugar kits
- Medication
- Your most recent HbA1c reading
The application process for Mortgage Protection Insurance cover
- Get a quick and an Instant Quote online or get in contact with one of our team members
- Once your application is finished, we will then get all your relevant information to the relevant life insurance company and speak to them throughout the whole application process.
- Many policies are sent out within 24 hours of our receipt of the application.
- We will always offer advice to ensure you are getting the right and most suitable type of cover.
Is there a difference if a person has Type 1 or Type 2 diabetes?
There is a difference when it comes to seeking Mortgage Protection Insurance for both type 1 and type 2 diabetes.
Type 1
Getting insurance for type 1 diabetes is a lot more difficult then type 2 but it is not impossible. Type 1 generally happens early in life and there are a lot more problems involved. With type 1 you are insulin dependent and there are a lot more risks involved. Whilst the cost of premiums will be higher it all depends on your age and the severity of your diabetes.
Type 2
With type 2 diabetes, there is a lot less risk involved and you are not insulin dependent compared to type 1 diabetes. You will pay a lot less for Insurance cover for type 2 diabetes. There may be a reluctance on some insurance companies part to offer you cover for type 2 but we ensure that we search the whole market and find those life companies that will provide you with the cover.
Is Cover always guaranteed for a Diabetic?
It is possible to get mortgage protection and life insurance if you have diabetes however it depends on which type you have and the severity of your condition. Insurers will offer cover at higher premiums than standard as they view diabetics as being a higher risk than the norm. On the flip side, your premium cost can come down if you can show that your diabetes is being managed properly.
Why choose Low for your Mortgage Protection Insurance?
- We give you peace of mind that your mortgage is cleared off if you die
- Our advisors are always on hand to talk you through your options
- We will search the whole market to find the best available price and then we go lower again
- Our team of dedicated and experienced advisors ensures that you are in the most capable hands
- We can get your cover in place quickly and always at the lowest price on the market with our pledge to beat any comparable quote.
