Life Insurance With Crohn’s Disease 2023
Crohn’s disease is one of the main inflammatory bowel diseases that affects 1 in every 650 people in the UK.
Although it’s not usually lethal, it’s considered a chronic illness and can therefore have related health implications. Therefore, having a life insurance policy in place is crucial to provide your family with financial security in case you pass away.
Since many policies are available, we will make your decision-making process much easier and faster. Read on and compare available cover options for people with Crohn’s disease.
Compare Plans From The Leading Life Insurance Companies – No Obligation Quote
What Type of Life Insurance Policy to Choose with Crohn’s Disease?
There are four main types of life insurance that you can take out depending on your needs. If you suffer from Crohn’s disease, you have the same options as standard applicants, although your condition may affect your monthly premiums.
Depending on what you want to cover with your life insurance policy, the severity of your condition, and your budget, you can select one of the four main life insurance options.
Level Term Cover
Level term cover is a great life insurance policy option for protecting the aspects of your life that aren’t subject to change over time. For example, it’s ideal for an interest-only mortgage. It provides a fixed payout amount – the sum assured.
This type of cover protects you for a specific period of time, and the payout is made once you pass away during your policy period.
To apply for a level term cover type of life insurance policy, you must disclose key information for the insurance provider to calculate your monthly premiums. If you suffer from Crohn’s disease, you will need to disclose all the necessary information about your condition.
If you experience mild symptoms of Crohn’s disease, you may be able to secure the policy on standard terms. However, if your illness is severe, you can still secure the cover, although your monthly premiums will likely be slightly inflated.
To ensure you get the best deal on your life insurance policy, it’s vital to compare life insurance quotes from different providers, as the underwriting processes vary between insurers. By comparing their offers, you can find the most suitable cover with the most favourable terms.
Decreasing Term Cover
Decreasing term life insurance means that your sum assured will reduce in value over time, making it an ideal insurance option for protecting, for example, a repayment mortgage.
Again, you will be covered for a specific period, and in the event of your passing during that period, your life insurance sum will be paid out.
It’s essential to inform your insurance provider about your Crohn’s disease, as your condition may affect your monthly premiums.
Depending on the severity of your illness, you can take out a life protection policy on regular terms if your symptoms are mild. However, more severe forms of Crohn’s disease may inflate your premiums.
As the decreasing term cover type of life insurance reduces your risk to the insurer over time, this policy option may be the most affordable.
Whole of Life Insurance
Whole of life insurance provides a lifelong cover that pays out after your passing. This may be your best option if you need your policy to guarantee inheritance or cover funeral expenses.
It’s crucial to note that to keep your cover valid, you will need to pay premiums for the rest of your life, which may be costly if you’re paying inflated monthly premiums due to the severity of your Crohn’s disease.
For that reason, the whole of life insurance type may be more suitable for those who experience a mild form of the illness and are in better overall health conditions.
If you take out the whole of life policy at a young age, there’s a risk that you will pay more into the policy than it will pay out. Therefore, this type of insurance cover may be better suited for older applicants.
Over 50s Life Insurance Plan
An over 50s plan provides guaranteed life protection cover for people aged 50-85 without the need to provide details of medical history.
Applicants who fit into this age bracket and have previously struggled with securing life insurance coverage due to their condition may find this option the most suitable.
However, because of your unspecified risk, life insurance providers will add a waiting period to your cover.
It will be applied to your policy for the first 12 to 24 months. If you pass away due to natural causes during this period, all paid premiums will be refunded, but the lump sum payout will not be made to your family.
If you’re over 50 and suffering from Crohn’s disease, your premiums can be slightly higher than with the regular policy, and the sum assured is usually capped at £20,000.
Best Life Insurance Companies · Help at Every Stage · Simple Quote Process – 60 Sec Form
Summary Table For Crohn’s Disease Life Cover:
|Prevalence of Crohn’s Disease in the UK||Crohn’s disease affects 1 in every 650 people in the United Kingdom. It’s a primary inflammatory bowel disease.|
|Importance of Life Insurance for Crohn’s Disease||Life insurance provides financial security for families, especially since Crohn’s is a chronic illness with potential health implications.|
|Types of Life Insurance for Crohn’s Disease||Options include Level Term Cover, Decreasing Term Cover, Whole of Life Insurance, and Over 50s Life Insurance Plan.|
|Additional Cover Options||Terminal Illness Cover, Critical Illness Cover, and Income Protection are available for those with Crohn’s disease.|
|Cost Implications||The cost of life insurance for those with Crohn’s disease depends on factors like age, overall health, smoking status, weight, and the severity of the condition.|
|Colitis and Life Insurance||Colitis, associated with Crohn’s disease, can also impact life insurance. The severity of the condition and its duration since diagnosis play a role in determining premiums.|
|Recommendation||Comparing different providers and their offers can help individuals with Crohn’s disease find the most suitable cover with favourable terms.|
|Broader Implications of Inflammatory Bowel Diseases||Conditions like Crohn’s disease and ulcerative colitis can have systemic effects on the body, impacting various organs and systems beyond the digestive tract.|
|Potential Treatments for Crohn’s Disease||While there’s no cure for Crohn’s, treatments can reduce its symptoms. These include medications, dietary changes, and in severe cases, surgery.|
|Latest Research on Crohn’s Disease||Research is ongoing to understand the causes of Crohn’s better and to find more effective treatments. This includes studies on genetics, environmental factors, and new medications.|
What Other Policy Types Are Available for People with Crohn’s Disease?
Apart from the four main types of life insurance policies, you can consider taking out, there are also additional cover options you can secure if you are diagnosed with Crohn’s disease.
Terminal Illness Cover
Terminal illness cover allows you to claim your life insurance early if you’re diagnosed with a terminal illness and your life expectancy is less than 12 months. This option is usually included in your life insurance policy free of charge.
Critical Illness Cover
Critical illness cover allows you to receive a payout if you’re diagnosed with a serious illness listed within your policy.
If you have a mild form of Crohn’s disease, you may be able to secure cover on regular terms. However, if your condition is severe and you experience significant flare-ups, it may result in your premiums being inflated.
Due to your illness, an exclusion will likely be added to your policy, which means that you will not be able to make a claim for this reason.
Income protection insurance is a separate cover that allows you to get up to 70% of your normal income if you become too ill or injured to the extent that you cannot continue working.
If you suffer from Crohn’s disease, your policy will recognise your condition as an exclusion. Therefore, you cannot claim it if you have difficulty working due to your illness.
Similarly to other policy types, your monthly premiums may be inflated depending on the severity of your condition.
The Cost of a Life Insurance with Crohn’s Disease
The amount you will pay for your life insurance policy if you have Crohn’s disease will depend on your individual circumstances.
When calculating the value of your premiums, insurance providers will determine the level of risk you pose, which is the possibility of you making a claim.
As mild forms of Crohn’s don’t significantly impact your policy, suffering from a severe condition may increase your premiums. The exception is if you’re applying for an over 50s plan, as you’re not required to provide any details related to your medical history.
To assess the risk, the insurers may need to obtain the following information from you:
- Your age
- Your overall health condition
- Your smoking status
- Your weight
- A type of insurance policy
- Sum assured
When applying for a life insurance policy (any type apart from over 50s plan), you must declare your Crohn’s disease.
At this point, the insurer may ask you for additional information, including:
- The frequency of your flare-ups
- The date of your last flare-up
- The strength of your medication
- The treatment you’ve received, if any
- Your ability to continue working with your condition
Life Insurance for Crohn’s Disease FAQs
Can I Get Life Insurance If I Have Crohn’s Disease?
Yes, you can get life insurance if you suffer from Crohn’s disease. However, the severity of your condition may determine how much you will pay for your premiums.
You could secure cover on standard terms if you have a mild form of Crohn’s. However, if your condition is severe and you experience regular flare-ups, your premiums may be increased.
What’s more, if you’ve been diagnosed with Crohn’s disease recently, the insurance providers may postpone your policy application to understand the nature of your illness better.
If your Crohn’s diagnosis falls within the period of your life insurance policy, your existing protection cover will not be affected.
Is Crohn’s Disease Classified as a Critical Illness?
Yes, Crohn’s disease is classed as a critical illness. It’s one of the conditions covered by a critical illness cover.
However, if your Crohn’s is a pre-existing condition, it will be added to your policy as an exclusion which will result in you being unable to make a claim for the disease or any implication associated with it.
On the other hand, if you’re diagnosed with Crohn’s disease during your policy period, you will be able to make a claim on the terms stated in your policy.
Various life insurance providers have different lists of illnesses that they cover within their critical illness policies. Therefore, not all of them may cover Crohn’s disease.
For that reason, it’s vital to compare multiple policies from different insurers to secure the most suitable cover for you.
Can I Be Declined from Life Insurance Due to Crohn’s Disease?
Although you can get a life insurance policy for Crohn’s disease, you may likely be declined for a few reasons:
- You’ve just been diagnosed. Many insurance providers will likely offer you coverage after a specified period of time since your diagnosis. This is usually six months, but the times may vary depending on the insurer. The 6-month period is intended to establish if your diagnosis is correct and to better understand your condition in terms of its severity.
- You recently had surgery. Many insurers may decline your application if you’ve just had surgery and advise you to apply again once fully recover.
- The insurance provider considers your condition to be too risky. If you experience a severe type of Crohn’s disease, the insurer may decline your application as you may pose a high level of risk.
- The insurance provider you applied with isn’t equipped well enough to proceed with those having pre-existing conditions. Some insurers may not be able to offer you a life insurance policy if you have pre-existing health conditions.
Comparing different providers and quotes may help determine the best policy option that suits your needs and expectations.
Does Colitis Affect Life Insurance?
Yes, colitis can affect your life insurance, but it’s still possible to secure the policy. Colitis is a condition associated with Crohn’s disease as it falls under the same IBD (irritable bowel disease). Hence, it will have the same impact on your cover.
This impact will depend on the severity of your condition and how long you’ve been diagnosed. Mild forms of colitis will not affect your cover on a large scale, and you will still be able to secure the cover on standard terms.
However, more severe forms may cause your premiums to increase as you will pose more risk to the insurance company.