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: 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. Age – Diabetics are more likely to experience complications as they get older, increasing the risk to the insurer. 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. 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. 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. 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. 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.

Life Insurance and Income Protection with Epilepsy

If you have epilepsy and have applied for insurance you will know that it can be less than simple. We have years of experience with helping people with epilepsy in obtaining invaluable insurance. We will take time to understand your circumstances and how epilepsy impacts your life. There are many different factors that will impact the availability of insurance and as discussed later on, we will go through it all to help you get the cover you need.

What is Epilepsy?

Epilpesy is the one of the most common brain disorders in the world. Epilepsy is a condition that typically results in seizures that are recurring. There is a brief interruption with the electrical rhythms of the brain that results in a seizure. In Australia there are over 250,000 people that live with epilepsy with an additional 12,000 diagnosed each year. That means that more than 1 in every 100 people in Australia have epilepsy.

Types of Epilepsy

Generalised tonic-clonic (Grand Mal Epilepsy) – Loss of consciousness which is generally followed by body stiffening and aggressive shaking. This is followed by a heavy sleep. A grand mal seizure can be dangerous with biting your tongue and injuring yourself a common consequence.

Absence (Petit Mal) Epilepsy – Absence seizures can be very subtle and often go unnoticed by those around the person experiencing it. It is a brief loss of consciousness that can happen a number of times in one day. The person experiencing it may seem momentarily distracted and absent.

Partial Seizure – Complex and Simple – Focal seizures that are confined to a specific part of the brain. Symptoms include feeling disoriented, confused, twitching and distorted senses such as taste and smell.

Other types include, Myoclonic, Atonic and Nocturnal.

What Insurers Look at While Assessing your Application

Epileptics face a unique line of questioning when it comes to an insurance application. Understanding what will be asked of you is the first step to increasing your chances of receiving an offer of insurance. We take considerable time to understand you and your circumstances as we understand than your story and your epilepsy is more than simply a test result. We paint a detailed picture for the insurer so that you and your case are viewed in the most favourable light.

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

Type of Epilepsy – Each type of epilepsy is viewed differently by the insurer. Each type of insurer manifest in a unique way which means that they require distinct assessment criteria.
Frequency of seizures – How often you have seizures is something insurers will always want to know. It is a used as an indication of the level of control with less seizures naturally being more favourable.
Ability to drive – Whether or not you are allowed to drive helps insurers understand the restrictions that epilepsy has on your life, in particular your working life.
Treatment – Insurers are comforted when they understand that your treatment and condition is stable. A long period of stability on the same medication can be favourable in securing cover.
Other health issues – If you have suffered an injury from a seizure or otherwise your application may be impacted. The same applies to illnesses you have had in the past. This is no different to someone who has an application however it is important to remember.

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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.

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