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FAQs - Diabetes and Insurance
Do I have to tell my insurance company I have diabetes?
Yes. The insurance act of every province and territory specifically requires an applicant for insurance to disclose every fact within that person’s knowledge that is relevant to an application for insurance. If you do not disclose all material information about your diabetes, even if the relevant question is not asked in your application for coverage, the insurance company can void your policy.
Once life or disability insurance policy has been issued, you do not need to report any subsequent changes in your health unless you apply for increased policy benefits.
How will my applications for insurance be affected?
People with diabetes often find it more difficult to obtain or renew at an affordable cost insurance of all types: vehicle, mortgage, term/life and travel.
Most insurers take into account the type and severity of diabetes when considering applications. The insurance company attaches a medical rating to the policy based on the type of diabetes, the length of time since diagnosis, how well the disease is managed and the presence or absence of complications. This rating then determines the price of the policy offered. In some cases, an insurer may determine the risk is too high to offer insurance coverage.
The Canadian Diabetes Association recognizes that getting insurance is important for people with diabetes. The Association provides its members with an opportunity to purchase travel insurance and credit life insurance.
My application for life insurance was denied because of my diabetes. Is this discrimination?
Probably not. According to human rights law, insurance company underwriters do not discriminate based on age, sex or disability, but rather assess individuals on the basis of “risk classification”. Up till now, courts have upheld reasonable risk selection practices on the part of the insurance company underwriters.
What is the Canadian Diabetes Association’s position on insurance coverage for people with diabetes?
The Canadian Diabetes Association believes people with diabetes should be able to obtain insurance coverage of all types at a reasonable cost.
Full text of the position statement, including background and rationale.