Finweek English Edition - - Communication & Technology -

IF PROP­ERLY MAN­AGED, di­a­bet­ics can lead nor­mal lives. But be­ing di­ag­nosed with di­a­betes de­mands some rad­i­cal life­style changes, in terms of diet, ex­er­cise regime and po­ten­tially the use of pre­scribed drugs and/or in­sulin.

An at­ten­dant prob­lem for di­a­bet­ics is get­ting ap­pro­pri­ate and af­ford­able life cover. That risk to the in­surer is un­con­trolled di­a­betes, which can re­sult in death. Poli­cies for di­a­bet­ics there­fore of­ten have com­pli­cated ex­clu­sions and pre­mi­ums are loaded or es­ca­late sharply, mak­ing life cover un­af­ford­able.

Now there’s a new prod­uct avail­able that uses a health mon­i­tor­ing sys­tem to pro­vide cover for di­a­bet­ics who can demon­strate di­a­betic con­trol. “Our abil­ity to mon­i­tor the health of the peo­ple we in­sure and to make them aware of po­ten­tial health prob­lems as they arise, mean we can re­ward our pol­icy hold­ers for good health man­age­ment and pro­vide cheaper and more straight­for­ward in­sur­ance prod­ucts,” says Ross Beer­man, MD of Al­lLife.

Prod­ucts are avail­able for both Type I and Type II di­a­bet­ics and are rein­sured by Gen Re, part of War­ren Buf­fett’s Berk­shire Hath­away Group.

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