If you are looking for life insurance with Irritable Bowel Syndrome (IBS) as a factor you have to consider, you probably need an experienced professional to find the best policy.
Irritable Bowel Syndrome (IBS) could definitely affect the coverage and premium cost of any life insurance policy. Whether it does, and how much, depends on your exact condition. However, there are certain factors you need to be aware of in order to make an informed decision.
While some carriers do consider IBS a high risk for life insurance, recent advancements in knowledge about the disease and its treatments have had significant impact on the way it is viewed.
Fortunately, Irritable Bowel Syndrome can be more easily controlled than a lot of other health issues, which often translates into better ratings and lower premiums. We can help you find the life insurance carriers who are most flexible toward IBS.
Simpler Solutions For Life Insurance With Irritable Bowel Syndrome (IBS)
It’s estimated about 15% of the entire U.S. population will suffer from IBS in some form during their lifetime. You are not alone in navigating the challenging road to life insurance. In order to understand how your condition will affect your coverage and premiums, you need to consider the specifics of the syndrome itself.
IBS is not actually a disease, it is a functional disorder which primarily affects the large intestine, and is characterized by a multitude of recurrent gastrointestinal symptoms. The most common of these are:
- severe chronic abdominal pains
- significant alteration of bowel habits(constipation or diarrhea)
Of course, it’s immediately obvious these symptoms may have a great many other causes besides Irritable Bowel Syndrome. These are what makes diagnosing IBS a difficult matter.
An actual “cure” for Irritable Bowel Syndrome does not exist, but there are ways to help minimize discomfort and symptoms. Lifestyle changes such as stress reduction and dietary adjustments can be effective. Medical treatments include surgery and corticosteroid treatments.
How IBS Can Affect Your Life Insurance
Here are the factors specific to Irritable Bowel Syndrome which will have the most impact on how insurance underwriters will regard your application. You should expect to provide detailed answers about:
- Frequency and Severity of Symptoms – Mild symptoms which require no treatment are viewed very differently than those which are incapacitating.
- Recent Physical – If you had a recent physical, the results will be weighed, good or bad. If it’s been too long since your last physical, one may be requested of you.
- Colonoscopy – Most insurance companies will want to see the results of a colonoscopy done within the last two years. An abnormal result will almost certainly mean either higher rates or being declined for traditional insurance.
- Surgery – Many life insurance companies will delay processing an application if your physician has noted surgery may be necessary in the future, or for 6-12 months after a successful IBS surgery. They will often give you a fairly good rating if there have been no further issues with this particular disorder.
- Response to Treatment – What effect, if any, resulted from the lifestyle changes or medical treatments mentioned above.
- How Long Have You Had IBS – In general, a diagnosis later in life is viewed more favorably.
- Last Flare-Up – Of course, the longer it’s been since you’ve had symptoms, the better, so you can expect to be asked the date of your last flare-up. Anything major within 12 months of your application is usually seen as cause for concern.
- Medications – Mild or moderate medications to treat symptoms are not usually considered reason for alarm, but life insurance companies do tend to be a bit leery of corticosteroids, particularly if you’ve taken them for a long period of time. Some prescriptions also raise blood sugar, which will be considered higher risk if you are diabetic.
Basically, in order to qualify for the best coverage and lowest rates for life insurance with Irritable Bowel Syndrome, you will need to show there are no longer any imminent issues and you are taking little to no medication for it. But even when it is not the case, you still have alternatives.
Other Factors in Addition to IBS
Regardless of whether your Irritable Bowel Syndrome has a significant impact on your life insurance application, all of the usual considerations will still come into play. Although there are more, the biggest ones tend to be:
- Overall Health – Having no additional serious health issues will count for a great deal.
- Age – All other things being equal, younger is cheaper and older is more expensive.
- Gender – This is a factor because women have longer average lifespans than men, on average.
Possible Results With IBS Consdierations
There are various possible scenarios when applying for life insurance with Irritable Bowel Syndrome.
While there is an excellent chance your life insurance application will be approved in spite of your IBS, there is still a vast difference among insurance companies in the coverage they will offer and the premiums they will charge.
Full Coverage: A record of mild symptoms which are well under control, with few complications, should qualify for life insurance at Standard rates or better.
Higher Premiums: If your Irritable Bowel Syndrome is more severe, but all other factors are positive, you may be able to get the coverage you seek by just paying a higher rate.
If your IBS is severe, and there are other negative factors, you may be declined for traditional life insurance. However, it does not leave you completely without alternatives.
Graded life insurance is an option for those who cannot get approved for traditional life insurance due to Irritable Bowel Syndrome. While you will have to disclose your condition, there is no physical exam required, but these policies come with restrictions.
- A waiting period of 2 to 3 years is required before full benefits go into effect.
- The maximum coverage rarely goes above $25,000, though it may sometimes reach as high as $150,000.
What To Do
With all of the variables involved, an experienced insurance professional is your best bet for finding the right policy for you at the best rates. Contact us today so we can point you toward the life insurance which best suits your needs.