HealingWell
Search Close Search
☰

Life Insurance w/ UC

Support Forums
>
Ulcerative Colitis
✚ New Topic ✚ Reply
❬ ❬ Previous Thread |Next Thread ❭ ❭
Posted 7/26/2010 2:16 PM (GMT 0)
Hi guys,

I was wondering if anyone can let me know their experience with getting life insurance with a UC diagnosis. I am looking to get another policy to have greater coverage for our family (our first child is due this week). You experience and recommendations would be greatly appreciated.

Thanks guys.

MysticLaker

 

Posted 7/26/2010 2:35 PM (GMT 0)
Depends on the severity and how long your remissions are.

I couldn't get the best rate because I had been hospitalized twice because of UC. If you've never been in the hospital and you've been in remission for a long time, it is possible to get the best rate because you will be considered low risk (assuming you have no other health issues). At least that's what I was told by the broker.
Posted 7/26/2010 3:21 PM (GMT 0)
They had one at work and told me I was disqualified because of UC. I haven't looked into any others. Good luck!
Posted 7/26/2010 4:43 PM (GMT 0)
I have a lot to contribute to this particular subject, just no time to post right now.  I will get back to you later today.

MyUC

Posted 7/26/2010 5:07 PM (GMT 0)
I would also like to hear more about this.
B
Posted 7/27/2010 2:54 AM (GMT 0)
I looked into additional life insurance since my diagnosis. As another poster stated it really depends on the severity of the disease, medications and if you have been hospitalized.

I was denied repeatedly, or given astronomical premiums, because I was on Remicade and had been hospitalized several times. Although UC is seldom "deadly" the risks associated with biologic treatments (remi) and possible side effects from surgery scare insurance companies away.
Moral of the story? If your case is mild and controlled with first line defense drugs like 5-ASA's or Pred sign up now!

Good luck
Posted 7/28/2010 3:16 PM (GMT 0)
mysticlaker:

One can definitely get life insurance coverage while having UC.  I was first diagnosed in 1995/6 and got my first life insurance policy around 2000.  The understanding is that the underwriting can be graded on a scale with an A, B, C or D.  The best is obviously an A, the worst can be D and below.  When I was on Asacol and had pancolitis, etc... I was given a B grading (not perfect but good) and was given a pretty good number in terms of cost. 

I have never been hospitalized, etc...  I am in the process upgrading my current policy or changing to a new one.  I am no longer on Asacol, pred and am now on Imuran.  Even though it's considered a stronger medication I am in complete remisssion. 

So even though my colitis progressed and I went on a stronger med there is no problem getting coverage even though one has UC.  Yes, there are exceptions.  Also yes one with UC usally gets downgraded to a B even possibly a C grade.  One will usually pay a slightly higher premium but it's not that bad and one can usually get the coverage they need.

As we all know UC is rarely fatal, it doesn't effect the duration of one's life just the quality of it.

MyUC

Posted 7/28/2010 4:42 PM (GMT 0)
Thanks for everyones comments. I talked with an insurance agent. Using "MyUC" rating chart he said likely C rating, but maybe B depending on doctors info to the insurance company. I am pretty mild-moderate so hopefully I'll get the B pricing.

Thanks again!
Posted 8/14/2010 3:24 AM (GMT 0)

I worried about this since I was diagnosed. The problem is if you are turned down, then you will have to put that fact on your next application and the next company will quote higher rates because you were previously turned down!

The key is to get a life insurance agent that specializes in high risk policies. There are a lot of them - fortunately I found a *great* one in the DC area (Maryland) who I found out about by calling the main office of the CCFA who told me to call Advocacy for Patients with Chronic Illnesses, who recommended this agent.

What the high-risk agents do is submit some sort of "call to bid" to a number of different life insurance companies. It is a pre-application (that does not count as an actual application) but it otherwise is standard in that they get your doctor's statement and do a physical. A bunch of quotes come back, and then you formally apply to the one you actually want.

Let's take my real-world situation. I am 41 years old and I wanted $750,000. I've have UC for four years and am stable (but still some symtoms) on 8mg or pred and 112mg of 6MP. Never had any surgeries or hospitalizations, and don't have other health problems except some bone loss from the pred. If I were in perfect health, this amount might cost be $430/year. When the pre-quotes came back, the lowest company was $1400/year. Groan, but, better than I feared. But, when the final rate came back after applying that amount was (only) $1000/year! I actually ended up on one of the Standard table. This whole process takes a few months.

Anyway, it worked out great. The agent I used works over the phone, contact me if you want the name. In addition to helping me, she also bailed by wife out who got a chronic illness two days before she was to sign her life insurance policy! Or, contact Advocacy for Patients with Chronic Illnesses for a recommendation for your area:

http://www.advocacyforpatients.org/

"You may request assistance by writing to attorney Jennifer C. Jaff, Esq. at [email protected] or by calling her at (860) 674-1370. If she can't help you, she will try to direct you to an appropriate resource. "

Ben

✚ New Topic ✚ Reply