Diabetes is a chronic condition
This means that it lasts for a long time, often for someone's whole life.
There are two types of diabetes type 1 and type 2 so life insurance underwriting for diabetes varies for because they truly are two different diseases.
For our bodies to work properly we need to convert glucose (sugar) from food into energy. The hormone called insulin is essential for the conversion of glucose into energy.
- In people with diabetes, insulin is no longer produced or not produced in sufficient amounts by the body.
So when people with diabetes eat foods containing glucose, (such as bread, cereals, fruit and starchy vegetables, legumes, milk, yogurt and sweets) it can’t be converted into energy.
Instead of being turned into energy the glucose stays in the blood. (Your blood glucose level is called glycaemia). This is why blood glucose levels are higher in people with diabetes.
How serious is this?
Diabetes is listed in the top 10 leading causes of death in Australia. Diabetes and its complications both impact the life expectancy of an individual and can reduced life expectancy by 10 to 20 years.
How many people in Australia have diabetes?
The total number of Australians with diabetes and pre-diabetes is estimated to be approximately 3.5 million.
- About one in four Australian adults over the age of 25 years has either diabetes or impaired glucose metabolism.
About 900,000 Australians have been diagnosed with diabetes. For every person diagnosed, it is estimated that there is another person who is not yet diagnosed.
What to do?
If you or you loved ones have been diagnosed with diabetes, it's important to get some protection in place soon as possible rather than wait until there are unplanned complications that might prevent you from getting insurance.