Finding Multiple Sclerosis Life Insurance isn’t like trying to find a unicorn in the wild. Don’t feel discouraged right off the bat—if you suffer with Multiple Sclerosis, you CAN qualify for standard rate life insurance.
Because MS side effects vary from person to person, underwriters have to determine the severity of your case and how it impacts your mortality.
Life insurance for MS doesn’t have to be a mystery. In the next paragraph, we’ll look at the underwriting process and break it down step by step–ensuring you have all the information to get the best rates.
Table of Contents:
- How Life Insurance Companies View MS
- What If You Have Been Declined?
- MS Facts
- Where to Get Life Insurance with MS
- Types of Multiple Sclerosis
How Life Insurance Companies View Multiple Sclerosis
Underwriters need to know the ins and outs of your medical records when classifying you for life insurance. I know that sounds very intimidating.
Let’s go over what exactly they are looking at when classifying life insurance for people with MS.
- What was the date of your diagnosis? Because MS is a progressive condition, the date of your diagnosis makes a difference. They will look at how you’re managing your condition and how long you’ve been fighting the disease. Approximately how many attacks such as seizures have you had in total? A high number may mean that your condition is worsening, possibly placing you in a substandard category.
- What was the date of your most recent attack or seizure?
- What, if any, type of treatment have you undergone for your condition? Receiving treatment shows positive management of your condition. This is a good signal for underwriters.
- If you have undergone treatment, how have you responded to such treatments? Following such treatments, has your condition improved or has it worsened over time?
- Are you currently a smoker? If yes, how many packs of cigarettes are you smoking per day? Smoking negatively impacts your condition and your rates. Smoking in general tends to increase life insurance premium rates and lessen the chances of approval due to its negative effect on life expectancy overall. Life insurance for smokers have higher rates, even more so than life insurance for MS. Now is a great time to kick the habit.
- What prescribed medications do you take? (Some of the more common medications for multiple sclerosis include Beta interferons, Gilenya, Corticosteroids, Copaxone, and muscle relaxants.) The meds you take can either be positive or negative. Some medications may help your conditions while others may have harmful side effects.
In addition to the info that is specific to your condition, the underwriters will also examine other applicable questions.
These details will include data regarding your age, alcohol use, tobacco use, and your family’s health history.
They will also discuss more details with you regarding your overall health. The medical exam will require a urine and blood sample.
If you’re a female, they will most likely ask if you are pregnant.
Underwriters look at all the data and then quantify the risk you may pose. Should the insurance company need even more information, they may request an Attending Physician’s Statement from your doctor.
Once the underwriters have received all of your information, they’ll make a final determination on how they’ll rate you.
If your overall health is good – other than your multiple sclerosis –you can absolutely qualify for a standard policy rating.
In this case, your premium payment would be in line with other “average” policyholders who are of the same age, health, and weight classification.
What if I have been declined for life insurance?
Don’t take it personally. Most if not all life insurance applicants have been denied once. Take it in stride and go find new quotes.
Working with an agent who knows the life insurance for multiple sclerosis market and works with high risk life insurance policies on a regular basis will get you better rates.
If using regular underwriting does not work for you, we can look at no medical exam life insurance.
These include policies requiring a short medical questionnaire and not a medical exam.
If you have been refused life insurance, don’t believe affordable life insurance through a different company isn’t possible.
There are an estimated 400,000 people with MS in the United States alone. Two hundred new cases are diagnosed each week, making MS a common condition.
Researchers still haven’t pinpointed the cause of MS. Many experts believe it may be a genetic predisposition.
Here’s a small list of a few MS symptoms. It is by no means a full encompassing view of MS symptoms:
- Problems seeing
- Feeling weak or muscle spasms
If you’re experiencing any of these complications, you should schedule an appointment with your doctor immediately.
Where to Obtain Life Insurance with Multiple Sclerosis
If you have multiple sclerosis and are ready to apply for life insurance, we can help.
We have contracts with the best life insurance carriers in the arena, and can find the best policy for your life and budget. Our team specializes in helping people that fall into high-risk categories.
So whether it is diabetics, people with MS, or any other high-risk category, we know what companies are offering the best rates.
We can also help compare various life insurance policy benefits from different carriers and term life insurance quotes.
Curious what coverage you can qualify for? Just complete the form on this page in order to get everything started.
Does The Type of MS Make A Difference?
MS is a complicated condition. Because it can differ for each individual, life insurance companies will place you in one of the four categories.
What makes MS a different animal than other diseases when rating for life insurance is that it can take one of four different courses.
1. Relapsing-Remitting Multiple Sclerosis
Many multiple sclerosis patients will have relapsing-remitting multiple sclerosis or RRMS. Essentially RRMS is a condition where MS patients have flare-ups of their symptoms.
After this period of time, there will be a “recovery” period, which could last for weeks, months, or longer.
elapsing-remitting MS may last for ten or twenty years. Afterwards the disease can change over to another type of multiple sclerosis called secondary-progressive MS. Typically with this shift, the disease worsens. Some of the most known symptoms of relapsing-remitting MS can include:
- vision issues such as double vision and / or eye pain
- sensitivity to heat
- problems with bladder or bowel
- pain running down the spine
- stiffness in the muscles
- problems with coordination
- feeling of weakness or tiredness
An RRMS attack may last anywhere from 24 hours to several weeks – and it may include one or many different symptoms.
Medication, healthy habits, and physical and occupational therapy help manage RRMS.
What the Life Insurance Underwriters Need to Know If You Have RRMS
If you have relapsing-remitting multiple sclerosis and are looking for life insurance, underwriters will need more in-depth information than the basic form for coverage. Each company has different guidelines in the underwriting process. Having more information about your condition helps them better classify you and ascertain your premium rates.
How Much Will Your Life Insurance Cost With RRMS?
Insurance coverage for people with RRMS depends on the severity of their condition and how long they’ve been diagnosed. For someone in otherwise good health, there is a possibility to snag aStandard policy rate. Essentially the premium will be the same as that of an “average” policyholder of the same gender, age, and class.
In other cases, it may be that an applicant will be offered a high risk class policy. This means the premium charged for the policy will be higher than that of the “average” policyholder.
2. Secondary-Progressive Multiple Sclerosis
Those who have secondary-progressive multiple sclerosis, or SPMS, may have had multiple sclerosis already for some time andmay be feeling a shift in their disease.
SPMS patients all start with RRMS.When SPMS moves in, an individual’s relapses will not fully go away – andover time will begin to decline..
Here are a few symptoms signaling the progression to SPMS::
- tight or stiff muscles in the legs
- difficulty with coordination
- problems with the bladder and bowel
- issues with thinking and depression
What Life Insurance Companies Want To Know If You Have SPMS
Because secondary-progressive multiple sclerosis is a more severe type of MS, life insurance underwriters will want to obtain more in-depth information about your overall health condition.
It is totally normal to expect more questions asking beyond those on the basic insurance application for coverage due to the increased progression of MS.
In addition to answering these questions, expect underwriters to look over your medical reports.
They will typically request this information from your main care medical provider and/or from any professional that you visit for your SPMS condition.
Gathering the extra data help the underwriter gains a clearer view of your overall well-being.
How Much Will Life Insurance Cost for Those with SPMS
Due to major advancements in medical technology, those who have secondary-progressive MS have been better able to control their health condition. The prospects for getting cost-efficient life insurance have become more positive.
SPMS is still deemed a pressing health issue. Though a standard rate may be possible, it is more probable underwriters will place you in the substandard policy class.
This means that your coverage will be priced at above that of an individual who is viewed to be an average policyholder.
3. Primary-Progressive Multiple Sclerosis
PPMS affects approximately 10 to 15 percent of those who are afflicted with multiple sclerosis.
Those who have this type of MS will typically have the following symptoms:
- difficulty walking
- weakness in their legs
Over time, the symptoms of PPMS will slowly and steadily worsen over time, typically without remission or relapses.
Unfortunately, at this time, there is no known cure for PPMS. Medications may help manage and or control the severity and the frequency of an individual’s episodes.
What the Life Insurance Underwriters Need to Know If You Have PPMS
Keep in mind underwriters will need a greater scope of your health condition and medical history if you have PPMS. With this in mind, it is probable that you will be asked additional condition-related questions.
After the insurance company has obtained and reviewed all of the pertinent information about your health and health history, underwriters can make a well informed decision about your rates.
How Much Will Your Coverage Cost If You Have Primary-Progressive Multiple Sclerosis
Medical advancements have increased life expectancy for PPMS patients. This increased flows down to life insurance coverage, giving you more options. It is possible for MS patients to obtain a standard policy rate, but more probable PPMS patients will snag a substandard policy rating.
4. Progressive-Relapsing Multiple Sclerosis
Progressive relapsing multiple sclerosis known as PRMS, occurs in roughly 5% of all MS, making it the least common of the four types of multiple sclerosis (MS).
People with PRMS will typically experience a steadily worsening neurologic function from the very beginning of their disease, as well as occasional relapses like those with relapsing-remitting MS.
While there is no cure at this time for PRMS, there are ways of managing and controlling this disease. Medications like Rebif, Avonex, Tysabri, and Betaseron help manage PRMS and rehabilitation activities helping mobility and independence.
What the Underwriters Will Want to Know If You Have PRMS
If you have progressive-relapsing multiple sclerosis, and are trying to get life insurance coverage, underwriters will need a greater, in-depth look into your past and current medical history. Prepare for some additional questions and a medical exam.
Here, the paramedical expert will take your blood pressure, heart rate, and a blood and urine sample. The life insurance underwriters may also want to look over your medical reports to gain a greater understanding of your full medical history.
Life insurance underwriters are oftentimes more apt to approve life insurance applicants for coverage – especially if a successful plan of treatment is in place with an individual.
How Much Will Your Life Insurance Coverage Cost with PRMS
Taking out your PRMS diagnosis, if you’re in good health and maintain healthy lifestyle choices, you can qualify for a standard life insurance policy. Don’t be discouraged if you’re denied coverage for a traditionally underwritten policy.
n alternative option may be to apply for a no exam plan.
With no exam insurance as long as you pay the premiums you maintain coverage. The cost may be higher but could provide the only opportunity for collecting the life insurance protection you need.
Your MS diagnosis will impact the possibility of acceptance and then monthly rates, but you can absolutely gain life insurance protection despite your MS diagnosis.
The Importance of Life Insurance
We know researching and shopping for life insurance isn’t exactly the most entertaining but it is very significant. It can provide protection of your loved ones and your hard-earned assets.
Funerals are expensive, and depending on what stage of life you’re in, you may need to replace your salary and cover your mortgage or any other debts.
Life insurance will be the safety net that you and your family hope to never need.