All about Ulcerative Colitis and Life Insurance
If you’ve been diagnosed with Colitis and you need life cover to protect your loved ones, then here’s some information that we hope will help. It can be confusing and frustrating to get the right cover, so we’re here to help take that stress away.
You might need cover to protect your children, home, or business so it’s important to make the right choices. Life insurance for people with ulcerative colitis should be fairly simple and it’s important t pay the right price… so let’s get it sorted
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Ulcerative colitis life insurance
Here’s a bit of information from some of our experts that might help you to understand how this works and make your decisions. Some of the most common questions that we get asked by our customers.
Can I get life insurance with Ulcerative Colitis?
Getting life cover with ulcerative colitis can be simple and affordable. Because of the fact that almost 75% of UC patients have either mild or moderate symptoms. Cover can also be available instantly without the need for a GP report or a medical.
Applications for life insurance with ulcerative colitis will include several questions about your condition. The most common questions regarding UC include:
- When were you diagnosed?
- Are you currently undergoing or awaiting hospital treatment, tests, or surgery?
- Have you had surgery for this condition?
- Has this affected your eyes, joints, liver, bile duct, or stomach?
- What treatment have you received?
- How many flare-ups have you had in the past 2 years?
These are just some examples of the most typical questions that you’ll be asked by insurers. The questions can vary from one insurance company to another so these are just a guide. You should also know that a growing number of insurers are offering cover without the need for medical evidence (GP reports).
More information about LIFE INSURANCE
How can I get cheap life insurance with ulcerative colitis?
It’s possible to get cheaper life cover rates, simply by knowing which is the best insurer for your medical history. Some insurance companies are simply better than others when it comes to certain medical conditions.
This can be due to:
- Claims experience
- Underwriting philosophy
- Appetite for risk
- Internal expertise
To get the cheapest cover and make the right decision, it can be difficult without some previous experience. Speaking to an expert can help to reduce the chances of making the wrong choices and help to save you money.
Has Coronavirus (COVID-19) affected life insurance for people with Ulcerative Colitis?
Coronavirus has caused some unprecedented changes to the underwriting philosophies of insurance providers. Most of the medical conditions where symptoms are more severe have been affected, unfortunately. Life insurance underwriting was affected in the short term and there may be longer-term changes.
Some of the questions that were asked as a result of Coronavirus were:
- Have you been told to self-isolate?
- Are you currently or have you experienced any symptoms of COVID-19?
- Have you been exposed to the risk of Coronavirus?
- Do you know anyone who has contracted COVID-19?
This was an unprecedented global event and a lot of decisions to make changes were made by re-assurers. These companies are global companies and therefore were making decisions about underwriting based on some of the worst-affected countries.
Some of the restrictions that were brought in to play include:
- Limits to the amount of cover being offered (sum assured)
- Restrictions around certain medical conditions considered to be high risk
- Terms of policies being offered
There is a possibility of long term changes to the life insurance industry depending on how the situation develops.
More information about COVID-19 RESTRICTIONS
Which are the best life insurance providers for Ulcerative Colitis?
There are a number of circumstances where premiums can be unaffected by having UC. If your symptoms are mild or in some cases moderate then you could be offered good rates by some insurers. The terms that are offered to people with ulcerative colitis can be very different depending on which insurance company you apply to.
It’s important to remember that insurance underwriting is a complex process and there are various calculations involved. There are some insurance companies that will target certain medical conditions due to a good claims experience for example. It’s the job of an expert or trained adviser to search the market for you to find the best rates.
You’ll need to complete a medical fact find with the adviser you’re dealing with and make sure that you give honest answers. Also, you should be aware that underwriting guidance changes so the best companies for you and your condition can be different over time.
What if I’ve been declined life insurance because of ulcerative colitis?
If you’ve applied for life cover in the past and you’ve been declined, don’t worry, it’s not the end of the road. Lots of people get declined life insurance by companies because of their health, occupation, or an activity that they do.
You can get covered even if you’ve been declined or refused cover by one or several other insurance companies. Not everyone is good at dealing with applications for people with medical conditions like ulcerative colitis. There are loads of people that we speak to every week who have had cover declined in the past.
Some of the main reasons why people get declined life insurance:
- Medical underwriting
- Underwriting limits
- Amount of cover
- Term of policy
It’s also possible to apply for cover at the wrong time, for example during a period of poor control or changes in medication. Experts like iam|INSURED can help you to manage this and figure out the best way to get covered.
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Can I get critical illness cover if I’ve got Ulcerative Colitis?
This type of policy is a good way to ensure that you’re covered if you get diagnosed with a serious illness like Cancer, Heart Attack, Stroke, MS, and more. Someone with ulcerative colitis who wants to be insured against a critical condition should definitely consider applying. It’s also often possible to get critical illness cover if you’ve got this condition and again terms can vary between insurers.
There will be some main factors that will be taken into consideration when applying for critical illness cover with UC:
- When did you last have symptoms?
- Are you a smoker?
- Have you had any hospital treatment or surgery?
- Do you have any restrictions on daily living?
If you’re well managed with mild to moderate symptoms then you should be able to get this type of policy without any problems. Often in these types of applications will be considered and can be offered with no medicals required. If you are asked to provide a medical report from your GP then this just means that it will be reviewed by underwriting.
You should also remember that cheapest is not always best when it comes to critical illness cover. This can be especially important when you have a medical condition such as ulcerative colitis. Higher premiums can often mean more comprehensive cover, so you should always check the terms being offered.
There are also products available from more specialist insurers if your symptoms are more severe. For example, if you’ve had recent treatment or surgery as well as people who have greater restrictions on lifestyle.
More about CRITICAL ILLNESS COVER
Can I have income protection if I’ve got Ulcerative Colitis?
This type of cover can be extremely important to protect you and your home if you’re not able to work. You can cover yourself against being off work due to an accident or long term sickness if you’re employed or self-employed. People with ulcerative colitis can get income protection or accident and sickness cover in most cases.
If your symptoms are mild and you have not experienced any recent symptoms or flare-ups then it can be simple to get income protection. There are more options when it comes to looking for this type of policy so carefully consider your requirements. People with ulcerative colitis might be offered terms with some elements excluded so read your documents properly.
People suffering from more severe symptoms such as hospitalisation or surgery can get more specialist cover. You may have been refused this type of policy in the past but that doesn’t necessarily mean that you can’t get cover. There are options to make this type of policy more affordable as well so check to see what’s available.
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How much does ulcerative colitis life insurance cost?
When applying for ulcerative colitis life insurance, the underwritten guidelines are straightforward. before you get life insurance, providers will need to understand the severity of your medical condition by requesting to view your medical history.
Firstly, they’ll want to understand the type of inflammatory bowel disease you have, along with any long-term symptoms/related medical conditions, and your family history. If your case is mild with little symptoms and the requirement of mild medication, life insurance will usually be offered at standard terms.
However, if your ulcerative colitis causes regular symptoms resulting in the need for stronger medication, increase premiums will be applied to your policy. If your diagnosis is combined with liver disease or you’ve been hospitalised in the last 12 months related to your ulcerative colitis, your life insurance application may be declined.
Your premiums for ulcerative colitis life insurance will depend on:
- Your diagnosis including related conditions such as liver disease.
- Your family history.
- Your medical history including any further health conditions.
- The type of insurance product you’re looking for – (Income protection, critical illness cover, travel insurance).
- The term of your ulcerative colitis life insurance policy.
Exclusions for ulcerative colitis life insurance, critical illness cover, income protection, or travel insurance
When applying for either ulcerative colitis life insurance, critical illness cover, income protection, or travel insurance, you may also experience ‘exclusions’ This is where insurance providers will exclude conditions related to your ulcerative colitis diagnosis from your policy.
What are some common issues with getting life insurance for someone with Ulcerative Colitis?
We don’t like to focus on negatives but it’s important to make sure that we give you the full picture. Some of the things that can cause either a need for further underwriting or potentially some restrictions are:
- Recent surgery or outstanding investigations can make it slightly more complicated and may mean a delay (postponement) to your insurance offer. You should disclose this information (e.g. colectomy or ileostomy) on your application but it’s not the end of the road.
- Liver disease can also be a bit of an issue when combined with ulcerative colitis and especially where there has been recent hospitalisation or surgery.
- Medication or treatment such as immunosuppressants can be a problem if symptoms are moderate or severe so there could be underwriting considerations.
We often speak to customers who have had problems applying for cover previously or been declined by another broker. Don’t be disheartened, we’re very often able to get cover for people who’ve been refused elsewhere.
How much cover do I need?
It is difficult for a clear recommendation to be provided when applying for ulcerative colitis life insurance, critical illness cover, income protection, or travel insurance. However, there are a few factors you can take into consideration to help estimate the required amount of cover. View our breakdown of each policy below:
Ulcerative colitis life insurance amounts of cover
When applying for ulcerative colitis life insurance, the process can be straightforward, however, this is dependent on your diagnosis. If your symptoms are mild with no related health conditions, life insurance cover will be offered under standard terms.
However, if your diagnosis is severe where symptoms are influencing your quality of life or recent hospitalisation has occurred, the cover will be offered with an increase in premiums. Prior to applying for ulcerative colitis life insurance, here are some factors to consider:
- Mortgage amount (£’s)
- Outstanding debt (e.g. Loans, second charge, credit cards, and others)
- Spouse or Partner
- Income (after Tax)
- Assets (e.g. car, house, business, etc.)
Ulcerative colitis critical illness cover amounts
Following similar guidelines as life insurance, obtaining critical illness cover is likely when living with ulcerative colitis. If your symptoms are mild with low levels of medication/treatment, critical illness cover will be offered under standard rates. If your case is severe with regular flare-ups and treatment, your application may be accepted however premium increases and exclusions may be applied.
If you’ve been hospitalised within the last 12 months or require strong medication to control your ulcerative colitis, your application may be postponed or even declined. This will depend on the underwritten guidelines of your selected provider.
To discuss your eligibility, contact our team today on 01244 732 890. Prior to applying for critical illness cover, here are some factors to consider:
- Income (after Tax)
- Mortgage payments (annual)
- Cost of living (annual)
- Any other possible costs (e.g. medical treatment or adaptations)
Ulcerative colitis income protection amounts of cover
When applying for income protection, it is highly likely that your application will be evaluated, along with requesting a medical report from your GP. Insurance providers will require a clear picture of your overall health to gauge whether you are eligible for income protection. If your symptoms are low where little medication is required to live with your ulcerative colitis, income protection cover will usually be offered with small additional premiums.
However, if your case is severe, additional premiums and exclusions may be applied to your income protection policy or may be declined. Here are some factors to consider if you are eligible for income protection:
- Monthly income (after tax)
- Mortgage/rent payments
- Debts (other)
- Cost of living
To discuss your eligibility for income protection cover, contact our team today on 0800 009 6559