IBS & Life Insurance
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When you apply for life insurance, IBS might be something that pops up in the insurance application. Most of the time it is something that insurers have very little concern over.
We are here to listen to you and find the right insurer for you. We know that talking about the symptoms of IBS, is not always the easiest of things, and our team will speak with you in a sensitive manner.
Things that we will need to know:
- When were you diagnosed with IBS?
- What are your symptoms?
- How often do you have a flare-up?
- Do you need to take medication?
It may be that if you have not experienced IBS for a while, say 5 years or so, that it does not need to be detailed in your application. It all comes down to insurers specific questions.
When you have irritable bowel syndrome, life insurance applications are often accepted at standard terms. This means the normal premium and without any exclusions.
For people that have frequent symptoms of the IBS, you many find that the insurers add a small premium increase to the policy.
With many insurers you will be asked if your IBS is linked to anxiety or stress. If it is, then they will want to ask you a few questions about that, to make sure that they have a clear picture of your health.
Depending upon your mental health, it may be that the life insurance premiums stay the same, or that they are increased a bit further. It’s important to know that life insurance is incredibly cheap, so whilst premium increases are not nice, the policies are still usually very affordable.
Critical illness cover pays out a cash lump sum of money, if you are diagnosed with a medical condition that is listed in the insurer’s claims set e.g. cancer, heart attack, stroke.
When you apply for critical illness cover, IBS might need to be disclosed if you have had symptoms or treatment in the last 5 years.
Similar to life insurance, it is likely that your irritable bowel syndrome will have little bearing on your application. Most applications will be accepted at standard terms.
If you have regularly flare-ups, you need stronger medication, or your IBS is linked to your mental health, it is possible that there will be a premium increase on the policy.
Income protection pays you a replacement of your monthly income, if you are unable to work due to ill health.
Income protection for people living with IBS is often available. Insurance companies are likely to ask you how frequent your symptoms are and especially if they are in anyway linked to stress or anxiety.
When irritable bowel syndrome is mild and there are no links to other conditions, income protection may be available at standard terms with some insurers.
It is possible that if you have stronger symptoms, that there could be a premium increase or an exclusion for claims relating to the IBS.
If the IBS has caused you to have a lot of time off work in the last few years, it may be that your application is postponed until it has settled down.
You may find Accident, Sickness and Unemployment Cover a suitable alternative if income protection is not available. This type of policy does not ask about your condition, but there will be an exclusion for IBS related claims.
We would recommend that you speak to a qualified adviser before taking out cover, so that they can explain exactly what is covered and what is not.
What is IBS?
Irritable bowel syndrome is a digestive disorder that causes painful stomach cramps and bowel movements. IBS often comes with flares up of diarrhoea, constipation or mixed bowel movements.
IBS is regularly associated with stress or after eating certain types of food (possibly caused by an intolerance).
Also known as: Irritable bowel syndrome
Some potential problems experienced by individuals who have IBS include:
- Dietary considerations
- Feeling the need to stay close to the bathroom
- Stomach cramps
- Back pain
- Alverine (Spasmonal)
- Dicycloverine hydrochloride (Merbentyl)
- Dicycloverine/Simeticone/Aluminium hydroxide/Magnesium oxide (Kolanticon Gel)
- Fybogel Mebeverine
- Hyoscine Butylbromide (Buscopan)
- Ispaghula husk granules (Fybogel)
- Ispaghula husk/Mebeverine (Fybogel Mebeverine)
- Kolanticon gel
- Mebeverine Hydrochloride (Colofac)
- Peppermint oil capsules (Colpermin IBS Relief capsules)
- Propantheline bromide
- Spasmonal Forte
You’re probably right. Mild IBS on it’s own isn’t something that insurers are going to be too bothered about. What can be quite hard, is that what we think of as mild IBS, might be different to what an insurers classes as mild IBS. The main thing is research. It is so important to make sure that you find the right insurer for you.
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