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Ulcerative colitis can impact the price you pay for a life insurance policy. Like most conditions, it will be considered when your policy is underwritten.
A "preferred" rate typically means there were no existing or major conditions present. The premium may be "rated" if there are other factors or conditions that increase the risk to the insurer.
Co-Founder, Coastal Financial Partners Group, California
When applying for life insurance with a history of ulcerative colitis, the underwriting process will look at factors which include; age when diagnosed, extent of disease, frequency of attacks, date of most recent exacerbation, treatment and period since last treatment.
Mild, well controlled cases with some reasonable period of recovery will frequently be assessed at standard rates. Ratings or declination will apply to a more extensive condition with unfavorable factors and frequent attacks.
Work with an experienced life insurance professional who can shop to find the best offer for your specific history as outcomes will vary considerably by insurer.
Yes, having ulcerative colitis will probably affect your life insurance rates, or possibly even affect the type of life insurance policy that you can get. Mild ulcerative colitis that has been stable without any flare ups for a number of years may not need a table rating, whereas ulcerative colitis that has had exacerbations in recent years would tack on an extra rating. If the condition was not controlled at all, the applicant might need to go with simplified or guaranteed issue life insurance. However, there is life insurance available for the vast majority of ulcerative colitis and Crohn's Disease sufferers.
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A "preferred" rate typically means there were no existing or major conditions present. The premium may be "rated" if there are other factors or conditions that increase the risk to the insurer.
Mild, well controlled cases with some reasonable period of recovery will frequently be assessed at standard rates. Ratings or declination will apply to a more extensive condition with unfavorable factors and frequent attacks.
Work with an experienced life insurance professional who can shop to find the best offer for your specific history as outcomes will vary considerably by insurer.