How does the partnership benefit individuals with diabetes?
During Diabetes Week 2023, Bluezone, an international innovative insurtech company, has announced a strategic partnership with Diabetes.co.uk, the largest diabetes community worldwide.
With a focus on supporting and empowering individuals living with diabetes, this collaboration aims to raise awareness and offer comprehensive life insurance solutions.
Bluezone’s partnership with Diabetes.co.uk marks a significant step forward in improving access to life insurance for individuals with diabetes.
As the world’s largest diabetes community, Diabetes.co.uk offers a wealth of resources and peer support to those impacted by the condition.
With daily news updates, information guides, and research articles, the platform provides a holistic experience for individuals seeking to manage and understand diabetes.
Bluezone, with its unique approach to life insurance, complements this mission by offering affordable coverage through a seamless digital journey.
By removing cumbersome underwriting processes, Bluezone’s solution ensures that individuals with Type 2 diabetes can access life insurance easily.
The partnership thus promises to empower and support the diabetes community by providing them with fair and accessible life insurance options.
What challenges do individuals with diabetes face in obtaining life insurance?
In the UK, around 4.9 million people are living with diabetes. In the United States, around 37.3 million people are living with diabetes (1 in 10 Americans). 90-95% of these people are Type 2diabetic.
People with Type 2 diabetes often encounter obstacles when seeking life insurance coverage. The biggest challenge is finding affordable life insurance.
Even though it is possible for people with diabetes to buy life insurance (particularly if the disease is under control), the policies come at a steeper price.
However, Bluezone’s innovative life insurance solution tackles these challenges head-on. By leveraging technology and streamlining the application process, Bluezone eliminates lengthy form filling and the need for medical appointments.
This groundbreaking approach promises a tenfold improvement on the existing system. With Bluezone’s partnership with Diabetes.co.uk, individuals with diabetes can now obtain life insurance that suits their needs, providing them and their families with financial security.
How can individuals with diabetes secure affordable life insurance?
For individuals with diabetes, securing affordable life insurance requires careful consideration of several factors.
Fidelity Life suggests different options, such as term life insurance and permanent life insurance. Term life insurance provides fixed rates throughout a specified term.
It provides a death benefit that can replace lost income and help with debt repayment. Permanent life insurance, though more expensive, offers a death benefit and the potential to build cash value within the policy.
This cash value can be utilized for retirement income or medical expenses. Additionally, guaranteed issue life insurance provides acceptance without a medical exam.
However, these policies often come with graded death benefits. Individuals with diabetes can also maximize any group life insurance offered through their employer, which does not require divulging medical history.
Maintaining a healthy lifestyle, regular medical check-ups, and diligent disease management can also contribute to obtaining reasonably priced life insurance coverage.