It's estimated that somewhere around two million people in South Africa suffer from diabetes, and close to fifty people each day die from the disease, mostly because diagnosis rates are low. If you, or someone you know, suffers from diabetes, then in addition to doing exercise and watching your sugar, life insurance is a must. We're taking a look at what you need to know about diabetes, as well as your life insurance options.
What is Diabetes?
Diabetes isn't a single disease, it's a group of diseases that all centre around the same issue. When we eat food, some of that food is turned into a sugar called glucose in our bodies. In healthy people, the body makes a hormone called insulin, which controls sugar levels and stops them getting too high or low. For people who have diabetes (diabetics), either no insulin is produced, or too little is produced, meaning patients have trouble controlling the level of sugar in their systems.
Symptoms of Diabetes
The most common symptoms of diabetes are frequent urination (having to pee a lot), and being very thirsty or even hungry. There are other, less common symptoms, that include tummy trouble, weight loss, blurred vision or breathing problems. Without proper treatment, diabetes can lead to death. Even with treatment, if not managed properly, there can be severe side effects, such as blindness or losing limbs (especially toes, feet and legs) due to problems with blood circulation. However, and to not be pessimistic, with good treatment and sensible management many diabetics live long and healthy lives! Treatments are improving and so is awareness – making coping with diabetes easier. It is also important to note that there are different levels of diabetes (most agree on 3) – some less severe than others.
Diabetes Type 2
As mentioned, there are said to be three kinds of diabetes. Gestational diabetes, which happens only to pregnant women. Diabetes Type 1, which usually occurs in children due to the body stopping producing (or never producing) insulin, and, the most common kind by far, Diabetes Type 2. Diabetes Type 2 happens when your body doesn't produce enough insulin, or because your body doesn't react properly to insulin. Type 2 Diabetes has a strong connection to obesity (being overweight), and as obesity rates are rising so are levels of Diabetes Type 2.
Diabetes Diet
Many sufferers of Diabetes Type 2 can control their symptoms by losing weight and following the correct diet. Type 2 Diabetes is usually a progressive illness though, which means that whilst diets can work for a long time, eventually people end up needing to take insulin pills or injections.
A diabetic diet involves eating less sugar, since you don't want to add to the problem, but it also means balancing the amount of carbohydrates you eat (things like bread, pasta and potatoes), since carbs are changed into glucose in your body. Ideally, a diabetic diet should be between 45% and 65% carbohydrates, between 15% and 20% proteins (found in meat and eggs), and between 20% and 35% fats. This combination should help keep blood sugar levels steady, meaning there's less need for insulin.
Diabetes and Life Insurance
Diabetics have often had problems getting life insurance, as have, for example, people with HIV or AIDS. This is because diabetics are a high risk group (due to things
like strokes and heart disease) compared to other ‘regular’ customers. Therefore, even if coverage is provided, the premiums are often higher.
Whilst some major insurers will cover diabetics, there is an additional problem. An insurance policy may cover you, but should death be due to diabetes or complications from diabetes, then the policy simply won't pay out. This may sound unfair, but it is actually quite common. It's important that you know this because if this is your case then you might think that you have life insurance when, in fact, you only have life insurance in certain circumstances. Obviously, this isn't ideal, since, to face facts, the chances are that diabetes is going to play a part in your health condition.
However, the good news is that this is changing and today there are several companies that provide insurance for diabetics, including speciality insurers such as AllLife, as well as big name companies such as Hollard. There are conditions that you'll need to keep in mind though. For the most part, insurance companies will only cover diabetics if their diabetes is controlled. This means that you must be taking a suitable drug programme, or be managing your condition through diet. You will probably be required to take frequent blood tests to prove that you're looking after yourself properly.
What will effect your premiums? The kind of diabetes that you have, your weight, whether or not you're a smoker, and how your condition is being controlled and monitored will all have an effect. What will effect your pay out? Whether or not you're keeping to all the conditions set by your insurance company. Should you not submit the required blood tests on time, for example, you might find that your policy becomes invalid.
This might all sound a little complicated, but it's your job to read through your insurance policy, make note of all the requirements and make sure you stick to them! Done correctly though, this will make sure that you're covered and that your family will be financially secure should anything happen to you.
The Bottom Line
The bottom line here is that whilst diabetics have often had problems getting life insurance in the past, these days there is a growing list of options. If you suffer from diabetes, having life insurance to provide for your family in case something happens to you is especially important. So do your research, and compare a few quotes before making a decision. Remember, although your coverage and premiums are based on your condition, it is not advised to lie about your condition or provide inaccurate information, as this may lead to your policy becoming void – meaning that should something happen due to the diabetes your insurance won't pay out, and even worse: should something happen non-related, but the insurance company finds out that you provided false information, they may still find your policy void and not pay out due to infringing on the policy terms of providing truthful information.
Diabetes is a very treatable disease these days, with life expectancy longer than it has ever been before. And now you have the option of great life insurance coverage too! Just make sure that you mention your condition when applying for life insurance quotes to ensure that the quoted premiums you get are accurate!
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Main subject: Diabetes
