The American Cancer Society recommends individuals of average cancer risk begin, at the age of 45, to have routine colon cancer screenings, including a colonoscopy.
For many American adults, a colonoscopy procedure may identify non-cancerous colon polyps.
If you are someone that has been diagnosed with colon polyps, you can still find cheap life insurance despite your diagnosis.
If you have been diagnosed with colon polyps, the insurance company will obviously be very curious if the colon polyps were classified as benign (non-cancerous).
The insurance carrier will also be interested in whether the colon polyps were removed and if you’ve been diagnosed with colon polyps more than once.
All of the questions asked and documents requested are intended to determine your overall insurability. Be sure you are prepared to answer all of these questions truthfully.
Remember, as your insurance agent, we are here to help find the best over 50 life insurance for you. We understand the insurance industry and know which life insurers will work best for people with colon polyps, like yourself.
You may be anxious about what life insurance rating to expect, as well as what questions will be part of the application process.
Please read through all the tips below so you can confidently take the next steps in buying affordable life insurance.
Possible Results When Buying Life Insurance after Colon Polyps
Life insurers evaluate all manner of risks before approving a life insurance policy. They won’t just be focused on your colon polyps.
You will be asked about your occupation, medical history, hobbies, and driving record. All aspects of your life will be reviewed and evaluated.
A health history and lifestyle which indicates a higher mortality risk will result in a lower rating. In turn, the lower insurance rating equals a higher premium.
Obviously we can’t guarantee the final outcome of your application. However, we can give you examples of common ratings classes assigned to applicants over 50 with a history of colon polyps.
Outcomes for People with a History of Colon Polyps
Benign Colon Polyps: If you can confirm your colon polyps were benign and you have gone through a full recovery, then you may qualify for a Standard Rating or a Preferred Rating.
Bottom line: benign colon polyps that are removed without incident will not have any impact on your insurance rating.
It is best to apply for life insurance at least 6 months after having colon polyps removed. This allows enough time to prove a full recovery was completed.
There are a few life insurance companies that will postpone your application if it is submitted within the 6 month recovery period.
Of course, a postponed application is not the same as a declined application. A postponed application will simply be put to the side for a designated amount of time (maybe 6 months or a year).
Once that time has passed, the life insurer will once again review your application and consider offering coverage.
Benign Colon Polyps with Other Symptoms: Let’s say your colon polyps were non-cancerous yet you continue to present with the following large intestine symptoms:
- Lower abdominal pain
- Bleeding from the anus
- Abnormal stools
In this scenario, you might receive a Sub-Standard (Table Rating).
Each level of a Table Rating represents a 25% premium increase above the Standard Rate.
Depending on the insurance company’s guidelines, there is the possibility a life insurer will decide to postpone your application for a set period of time.
A life insurer may decide to postpone because the symptoms you are experiencing could be a sign of greater health problems such as colon cancer.
Keep in mind, this does not mean you will never be able to secure a life insurance policy. If you feel that waiting will not work for you, then we can direct you to other coverage options.
Colon Polyps Not Yet Removed: If colon polyps were discovered but not removed then you will find it challenging to secure a life insurance policy.
In fact, your application may be flatly declined or possibly postponed until the polyps are removed.
Insurance carriers become concerned because benign polyps left behind can eventually become cancerous.
In this case, it may be best to apply for a guaranteed acceptance life insurance policy.
We can go over all of this with you!
Recurring Colon Polyps: Insurance companies will consider you a bit riskier if you’ve had colon polyps more than once. This is because your risk for developing more colon polyps increases each time you are diagnosed with polyps.
Life insurers see recurring colon polyps as a red flag since benign polyps can eventually turn into cancerous polyps.
Recurring colon polyps may result in a Sub-Standard (Table Rating).
The below factors combined with recurring polyps will also bump you into a Sub-Standard (Table Rating):
- Being overweight (high BMI)
- Poor Diet
- Lack of exercise
- Heavy alcohol use
- Using tobacco
Rule of Thumb: Tobacco use often DOUBLES the premium of non-smoking peers.
Inflammatory Polyps: These types of cancerous polyps are the result of inflammatory bowel disease.
If you were diagnosed with this type of polyp, then your life insurance rating will mostly be based on your underlying illness rather than the colon polyps themselves.
The best case scenario is a Standard Rating but most likely you’ll receive a Sub-Standard Rating (Table Rating).
Stage 0 Colorectal Cancer: If your polyps were diagnosed as Stage 0 Colorectal Cancer, it’s possible you could still qualify for a Standard Rating.
As you know, Stage 0 Colon Cancer means a malignant colon polyp was removed before the cancer spread to any other body parts, including lymph nodes.
Life insurers recognize that once the polyp is removed and recovery is complete, the danger is removed as well.
Application Questions for Over 50 with History of Colon Polyps
Obviously the first set of application questions will be very basic. For example, the insurance carrier will want to confirm your age, height, weight, profession, marital status, hobbies, tobacco and alcohol use.
The insurer will also expect you to provide a complete medical history, including any chronic conditions you manage and maintenance medications you take.
Once you disclose a history of colon polyps then you should anticipate sharing more details about the diagnosis. The insurance company will also request copies of your medical records.
Colon Polyp Application Questions
Read through each of the following questions carefully and get your facts together. When the time comes, you’ll want to answer as accurately as possible to get the proper rating.
Let’s get started!
- When you were initially diagnosed with polyps?
- Have you been diagnosed with colon polyps more than once? If so, how many times?
- Were your colon polyps surgically removed?
- What testing was completed on the polyps?
- Were your colon polyps confirmed as benign or cancerous?
- Have you ever been diagnosed with colorectal cancer?
- Do you have an inflammatory bowel disease?
- How frequently do you have screenings for colon polyps?Preview (opens in a new window)
- Have any family members been identified as having colon polyps or colon cancer?
- Do you have a history of other medical conditions such as diabetes, heart disease, stroke, or cancer?
Describing the Type of Colon Polyp
Life insurance applications will also ask you to declare the type of colon polyp you had. This is because each type of colon polyp carries its own specific risk factor.
Let’s go over the types of colon polyps and how each classification is viewed by the life insurer.
Inflammatory polyps: Insurance companies aren’t much concerned about inflammatory polyps because they are generally not a health threat. As we mentioned earlier, these polyps usually are caused by an inflammatory bowel disease.
The illness that caused the polyps, such as Crohn’s disease or ulcerative colitis, will play a bigger part in your life insurance rating.
Serrated polyps: Insurance companies will weigh all the facts regarding this diagnosis. In general, serrated polyps are rarely malignant and this is normally determined by where the polyps are located within the colon.
So this type of polyp shouldn’t have a negative impact on your rating.
Adenomatous polyps: These colon polyps account for only 2/3 of all polyps. The unfortunate fact is adenomatous polyps are nearly always cancerous.
This will certainly influence your insurance rating.
Don’t Wait One More Day
Colon polyps are quite common, specifically in men over age fifty. In fact, it’s been estimated half of all American adults have colon polyps. Generally these colon polyps are benign and never develop into cancer.
Life insurance companies are aware of these statistics. Although they may ask many questions about your colon polyps, it doesn’t mean they are doing so to exclude you from coverage. The life insurer is simply evaluating your overall risk.
Don’t forget, we’re here to help counsel you on the best over 50 life insurance policy for you. Plus you’ll be able to rely on us for guidance throughout the application process.
Finally, you can be sure we’ll take your budget into consideration too. Finding affordable life insurance to protect your family’s financial future is achievable.
Over50LifeInsure can provide support and a free instant quote. Our expert life insurance agents want to help you get the best insurance for you and your loved ones. Please take a minute to fill out our online form for a free instant quote, or phone us today. Life insurance is an incredible gift for your family so don’t wait one more day!