If you’re one of the millions living with diabetes, having a life insurance policy is more important than ever.
Being diagnosed with diabetes can feel scary, but know you’re definitely not alone. According to the International Diabetes Federation, approximately 1 in 9 South Africans have the condition and Type 2 Diabetes is on the rise, so much so that it’s the leading cause of death amongst South African women. As World Diabetes Day approaches – it’s on the 14th of November – we thought we’d put a spotlight on the condition. Yes, it can be hard to live with, but at MiWayLife, we believe everyone deserves financial security, especially those living with a chronic condition.
Living with diabetes means living with increased risk
None of us like to dwell too much on the fact that we’ll all pass away one day but it's important that we’re prepared, especially if you’re living with diabetes. High blood sugar levels can damage your blood vessels and nerves, including those that control the heart. This significantly raises your risk of heart disease and stroke.
Fortunately, if you have diabetes and manage your condition well by taking any prescribed medication just as you’re supposed to, adhering to a healthy, well-balanced diet and getting regular exercise, you can do a lot to mitigate the extra risk to your heart. In fact, studies have shown that those who’ve been recently diagnosed with Type 2 Diabetes can put it into remission and maintain normal blood sugar levels without medication simply by losing weight.
Life insurance gives you full peace of mind
Many people think that if they’re living with a chronic condition such as diabetes means they won’t be eligible for life insurance, but this isn’t true. At MiWayLife, many of our policyholders have diabetes and other chronic illnesses, including HIV. Your eligibility will always depend on several factors including the type of illness, its severity and how well you’re managing your health. However, as a high-risk individual, you might have a loading fee applied to your cover. This means that your premiums will be slightly higher than a healthy individual as the risk to the insurer is higher.
Just a word to the wise – it’s very important that you always disclose any health conditions to your insurer so they can assess your situation accurately. Hiding it could lead to denied claims when your family needs it the most. Remember, insurers want to help you find the right coverage, not turn you away.
At MiWayLife, we’re committed to giving you more
If you qualify for life insurance with MiWayLife, you’ll be offered a set amount of coverage that’s paid out in a lump sum to your beneficiaries in the event of your passing. This way, come what may, you can rest assured that your loved ones will have a financial safety net. Depending on your cover amount, this money can be used to pay their daily bills, pay off any debt or ensure your children receive the education they deserve.
All MiWayLife policies also include a Terminal Illness Benefit, a Funeral Benefit and Funeral Cover for you and your family members – all for one premium! Our Terminal Illness benefit is accelerated, meaning it pays out fast. If you’re ever diagnosed with a terminal illness, such as end-stage heart failure, and are likely to pass away within a year, you’ll have the option to immediately claim 50% or 100% of your life cover amount while you’re still alive.
The bottom line
Living with diabetes means having to pay extra attention to your health. But it doesn’t mean you can’t buy a life insurance policy. In fact, we think it’s one of the savviest things you can purchase to help protect your family's future. Yes, you might pay a slightly higher premium but that doesn’t mean it’s unaffordable. Why not get a quote from MiWayLife today and let us impress you with our low premiums? With a life insurance policy in place, you can get back to living, but with full peace of mind.
Did you know:
You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online
