No Exam Life Insurance

Frequently Asked Questions

What is a no exam insurance policy?

Simply put the insurer does not ask you any health questions. Because of this you can get cover instantly with a few clicks of a button.

How can you offer cover?

Insurance for diabetics is not an underwritten insurance product and so relies on a policy exclusion for a 5 year period for any pre-existing medical condition immediately prior to taking out the policy. You have full cover from day 1 for any claims not directly or indirectly related to your pre-existing medical condition.

What happens after 5 years? Am I covered?

No – for any pre-existing medical conditions (specifically diabetes) there will be a life time exclusion on the policy 

Are there any other options?

Yes – you can applly for a fully underwritten product.  The insurer will consider your application.  They will then make you an offer based on your medical history.  These ‘terms’ will be probably have the premium increased to reflect your diabetic medical history however as you are paying an increased premium to have the cover the insurance company will cover you from day 1 and will acknoweldge your diabetic medical history.  (Please note that getting insurance is not guranteed and is subject to the insurers acceptance.  Not every one will be able to get cover and depends on many variables)  Please phone us on 0800 904 600 to get a pre-assesment. 

The Problem when applying for insurance when you are a diabetic

When you apply for life insurance or income protection a life insurer will ask you a number of questions to assess your health. This allows the insurer to establish the risk to them or in other words how likely you are to make a claim. Provided you are healthy and have no pre-existing medical conditions the insurer will offer terms based on how you answered the questions in your application.

The problem arises if you have suffered any previous health conditions in the past or if you a health condition like Diabetes.

If you do the insurer will look to do 1 of 3 things:

Decline to insure you: As they feel the risk is too high and that you are likely to claim on the policy. We think this is unfair as this is why you are applying for the insurance in the first place!

Substantially increase your premiums: The insurer will charge you a loading on the premium in the range of 100% to 300% more if you have certain pre-existing medical conditions. This is because they perceive the risk to be higher and the chances of you making a claim on the policy is higher.

Put exclusions on you: The insurer will cover you for everything else but will put an exclusion on the very health condition you are trying to get cover for.