Totally true.
Here is an interesting set of stats from Finland, where treatment is universal and high quality: http://www.bmj.com/content/343/bmj.d5364
More than likely, death rate in Finland is lower than here - but these are the results for cumulative death rate of early onset T1Ds (in this study, up to the age of 15):
“In the early onset cohort, the 20 year cumulative mortality in the groups diagnosed in 1970-4, 1975-9, 1980-4, and 1985-9 was 4.7% (3.7% to 5.8%), 4.3% (3.3% to 5.2%), 3.6% (2.8% to 4.5%), and 2.7% (1.9% to 3.4%) … However, the follow-up time of the last group had not yet reached 20 years,” which means that the 2.7% is not valid - but the 3.6% is (for people diagnosed on 1985-1989).