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Coeliac Disease life insurance, critical illness cover and income protection

The facts about getting life insurance with Coeliac Disease

Coeliac Disease affects about one in 300 people in the UK. When a person suffering from Coeliac Disease eats gluten (a protein), the lining of the small bowel (villi) becomes inflamed. The result is that their small bowel has trouble absorbing nutrients from the food they eat. Symptoms can range from diarrhoea to constipation, feeling sick, stomach cramps, weight loss and excessive wind. Other symptoms include tiredness, hair loss, mouth ulcers and skin rashes. If you suffer from Coeliac Disease, taking out Coeliac Disease life insurance may be a worthwhile option.

What does Coeliac Disease life insurance cost?

If you suffer from Coeliac Disease and need life insurance, critical illness cover or income protection, then you will need to provide insurers with information about your condition. Insurance underwriters will assess your application for Coeliac Disease life insurance based on the following:

  • When you were first diganosed
  • Whether the condition has caused you to become underweight
  • Symptoms
  • Medications you may be taking
  • Whether your condition is controlled by a gluten-free diet (that you adhere to)

Your premiums for Coeliac Disease life insurance will also depend on:

  • Sum assured (£’s)
  • Term of cover (years)
  • Type of policy (e.g. Family, Mortgage, Whole of Life etc.)

Coeliac Disease life insurance rates/ratings

Rates for any non-standard cover such as Coeliac Disease life insurance will vary from one insurance provider to another, depending on their underwriting philosophy. Insurance providers use a risk-based scale to determine the amount you will pay for your cover which uses a ‘percentage loading’ or ‘£’s per mille loading’. All insurance companies have their own underwriting criteria which will also change over time, so can be difficult to predict unless you regularly speak to them.

Percentage (%) loading for Coeliac Disease life insurance

A percentage loading basically applies a % to your standard premium based on the levels of risk calculated for your own circumstances. Your percentage loading will apply a multiple to your Coeliac Disease life insurance premium, which will be based on your health at the time of your application. You should also know that some insurance providers have different maximum levels to others, so some are prepared to take on higher risks (e.g. 250% or 400%).

EXAMPLE:

Basic premium
% loading
Final premium
£20.00 50% £30.00
£20.00 100% £40.00
£20.00 150% £50.00
£20.00 200% £60.00
£20.00 250% £70.00

Per mille loadings for Coeliac Disease life insurance

You may also find that a ‘per mille loading’ could be applied to your Coeliac Disease life insurance premiums, but this is more rare and only tends to be used for more severe conditions such as Cancer. A ‘per mille loading’ will be an additional amount that is applied to your premiums, which is based on the amount of cover you are applying for (e.g. £2 per thousand £’s of cover). The other difference with a ‘per mille loading’ is that it can be applied for the whole term of your Coeliac Disease life insurance policy or for a period of time from the start of your policy (e.g. 2, 3, 4 or 5 years).

Exclusions for Coeliac Disease life insurance, critical illness cover or income protection

Another potential outcome when applying for a non-standard cover such as Coeliac Disease life insurance, critical illness cover or income protection is for an ‘exclusion’ to be applied to your policy. This means that you may have certain conditions which can be linked to your  Coeliac Disease excluded from your policy. You may also find that certain additional benefits could be excluded such as Total and Permanent Disability, Waiver of Premium or Guaranteed Insurability.

How much cover do I need?

It is difficult to say how much cover you need when you are applying for a Coeliac Disease life insurance, critical illness cover or income protection policy. There are however some simple rules that you can follow which will give you a good idea for how much cover you need before you apply.

  1. You should also be aware that a Coeliac Disease life insurance, critical illness cover or income protection policy could increase after underwriting to reflect any additional risks of claim, so affordability may be a consideration.
  • Mortgage amount (£’s)
  • Outstanding debt (e.g. Loans, second charge, credit cards and other)
  • Dependants
  • Spouse or partner
  • Income (after tax)
  • Assets (e.g. car, house, business etc.)

Critical illness cover is slightly different to life insurance in the sense that it is designed to provide a lump sum payment if you are diagnosed with a critical or serious illness. Most people relate this type of cover to Cancer, which is the biggest reason for claims for critical illness cover. Things to consider are:

  • Income (after tax)
  • Mortgage payments (annual)
  • Cost of living (annual)
  • Any other possible costs (e.g. medical treatment or adaptations)

As long as you are following a gluten-free diet and there are no complications with your condition, most insurers will provide critical illness cover for Coeliac Disease sufferers at standard rates. If you have had anaemia or GI symptoms, your premiums could be greater, or your application denied. If your condition is more serious, you may need to take out insurance from a specialist insurer. Talk to us at Iam Insured about your options – we can help you find the right cover at the right price.

Income protection is a very flexible product with a lot of options and variables, so you need to consider your own circumstances before you consider this type of policy. If you work, and especially for people who are self-employed, a Coeliac Disease income protection policy can be a valuable product to give you peace of mind if anything happens to you. Some of the main aspects to consider are:

  • Monthly income (after tax)
  • Mortgage/rent payments
  • Debts (other)
  • Cost of living

As with critical illness cover, most insurers will provide income protection for Coeliac Disease sufferers at standard rates, as long as there are no complications. If your condition is more severe, you may require a specialist insurer who can offer income protection for your circumstances.

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