The Exeter has changed its underwriting approach to offer income protection (IP) cover to type 2 diabetics for the first time.
According to the latest statistics from Diabetes UK, almost 3.7 million people are living with a diagnosis of the condition in the UK, with 90% of those having type 2.
In addition, over 12 million people are at risk of developing type 2 diabetes in the UK.
This week’s All-Party Parliamentary Group report on growing numbers of obesity also highlights the risk factors associated with increased BMI and links to other diseases such as Type 2 diabetes, liver and heart disease. A Diabetes UK audit found that 85% of included people with Type 2 diabetes were classed as overweight or with obesity.
The extension of income protection to cover type 2 diabetics compliments The Exeter’s Managed Life product which already provides responsive life insurance for those living with type 2 diabetes. The Exeter’s IP proposition includes Income One Plus – a targeted, bespoke plan for low risk occupations and Pure Protection Plus – for people working in more manual, physical occupations.
The change in underwriting approach to incorporate type 2 diabetics applies to both products.
Steve Bryan, director of distribution and marketing at the Exeter, said: “At The Exeter we pride ourselves on our inclusive approach to providing cover, and income protection is a vital part of that.
“This latest extension of cover for type 2 diabetics is part of our broader approach to increasing access to protection across the board. As attitudes and treatment develops for those with manageable long-term illnesses, it’s essential that providers themselves innovate and change to meet the growing needs of the public.”