When it comes to getting life insurance, having some sort of disability or illness can make getting sufficient and reasonable rates a hard task. It can be a lengthy, complex, and frustrating task, but we want to help you. If you are here, you might have already been rejected for life insurance or have received a set of quotes with rates that were through the roof. Thankfully, you are on this page because we have a track record with helping individuals with multiple sclerosis find life insurance for years.
Is it possible to get life insurance with MS?
ABSOLUTELY! People with MS can even get standard rates for life insurance. Many people with MS automatically think that they won’t have the ability to get a life insurance plan because of their condition, but nothing could be more incorrect than that. What makes MS such a hard illness to get life insurance with is that each person reacts differently. It is more likely, however, that due to your MS, you will be placed into the Substandard rating class. The exact rating will be dependent upon the degree of your health, as well as how long it has been since you were diagnosed, how long it has been since your last attack, and whether or not you are showing any signs of improvement from any treatment that you are receiving. The exact class of the Substandard rating that your policy is placed in will have a bearing on how much you will pay in premium as well. Working with an agent that has experience with MS life insurance will make all the difference.
What are the factors the insurance companies are looking for?
When the underwriter finds out you are living with multiple sclerosis they will automatically want to understand more about you and your condition. Listed below are some questions that could be asked by the carrier:
- What was the date of your diagnosis? When you were originally diagnosed with multiple sclerosis will make a difference to the underwriters. This is because multiple sclerosis is a progressive condition, and they will want to know how you have been managing your disease. The longer you’ve had the condition, the higher your premiums could be.
- Approximately how many attacks such as seizures have you had in total? A high number may mean that your condition is worsening.
- What was the date of your most recent attack or seizure?
- What, if any, type of treatment have you undergone for your condition? The treatment that you are getting for your condition can be a positive in the underwriters’ eyes. By receiving treatment, it gives a record of how you manage your condition.
- 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 you are currently a smoker, how many packs of cigarettes are you smoking per day? Smoking will be seen as a negative – especially as this can aggravate your condition – and, smoking in general tends to increase life insurance premium rates and lessen the chances of approval as it has a negative effect on life expectancy overall. Life insurance for smokers who do not have MS is even much higher so if you are currently smoking the sooner you quit the better. This can have a huge impact on your approval and rates.
- Are there medications you are prescribed? (Some of the more common medications for multiple sclerosis include Beta interferons, Gilenya, Corticosteroids, Copaxone, and muscle relaxants.) The kinds of prescriptions that you are using could be either a positive or a negative. This is because while some medications may help your conditions, others can have negative or harmful side effects.
In addition to the info that is specific to your condition, the underwriters will also examine the info that you will be asked on your insurance application for coverage. 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 also requires you to give a urine and blood sample. If you’re a female, they will most likely ask if you are pregnant. If you’re interested in getting life insurance while pregnant, we have options for you.
The home office will take the results and analyze them to determine what your risk to their book is. Should the insurance company need even more information about you, they may request an Attending Physicians 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. Should you be in very good health – other than your multiple sclerosis – it may be likely to receive a Standard policy rating. In this case, your premium payment would be in line with other “average” policy holders who are of the same age, health, and weight classification. We can also help you find life insurance if you are overweight.
What if I have been declined for life insurance?
You should still get new quotes. Frankly, most people that come to us for life insurance have been declined at least once. The truth is if you are not shopping with the right companies then you are going to get declined. That is why 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 that only have a short medical questionnaire of guaranteed issue policies that have almost no questions at all. Either way you will not have to go through the medical examination process and a response to your application will be very quick.
If you have been refused life insurance, do not believe that you can’t secure adequate and affordable life insurance through a different company. One of the saddest errors that you can make is to avoid getting life insurance before of your condition.
Multiple Sclerosis – the facts
There are an estimated 400,000 people with MS in the United States alone. Every week there is around 200 new diagnoses, which makes the disease extremely common. Researchers still haven’t pinpointed what the cause of MS is, but there are many experts that believe it is a genetic predisposition to the disease.
Some of the symptoms of MS include:
- Problems seeing
- Feeling weak or muscle spasms
These are only a few of the possible symptoms of MS. 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 will help. We have contracts with the best life insurance carriers in the arena, and our job is to place you in the best policy for you – and that will fit into your 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 you in comparing various life insurance policy benefits from different carriers, as well as comparing term life insurance quotes. If you’re interested in finding out how much life insurance you qualify for, all you need must do is complete the form on this page in order to get everything started. This is much easier than spending hours on the phone with different companies, being questioned the same things over and over again. Let us take away the time and frustration.
Does The Type of MS Make A Difference?
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 and How Can It Affect Life Insurance Coverage
Many of those who have multiple sclerosis will have relapsing-remitting multiple sclerosis or RRMS. With RRMS, the person will have times when the symptoms of their condition – which are referred to as relapses – will flare up. After this period of time, there will be a “recovery” period, which could last for weeks, months, or longer, when there are no relapses, and when the disease does not get worse.
The period of time when a person has relapsing-remitting MS may last for ten or twenty years, after which the disease can change over to another type of multiple sclerosis called secondary-progressive MS. At that time, the disease will typically worsen.
Some of the most known symptoms of relapsing-remitting MS can include vision issues such as double vision and / or eye pain, tingling and numbness, sensitivity to heat, dizziness, problems with bladder or bowel, pain running down the spine, stiffness in the muscles, problems with coordination, depression, and a feeling of weakness or tiredness.
When one has an RRMS attack, it may last anywhere from 24 hours to several weeks – and it may include one or many different symptoms. There are different ways of helping to manage RRMS – including medication, as well as healthy lifestyle habits, and the use of physical and occupational therapy.
What the Life Insurance Underwriters Need to Know If You Have RRMS
If you have relapsing-remitting multiple sclerosis, and you’re asking for life insurance, then it is reasonable that the underwriters will need more in-depth information than what is requested in the basic form for coverage. The reason for this is they will need to know more about your specific condition before coming to a conclusion about your coverage, as well as the premium amount for your policy.
How Much Will Your Life Insurance Cost With RRMS?
The price of insurance coverage can be different for people with RRMS, depending on how long the disease has been present, as well as the condition’s severity. For someone who is in otherwise good health, there is a possibility for he or she to get a Standard policy rate. This implies that the premium that is required will be the same as that of an “average” policyholder who is of the same gender, age, and class.
In other cases, it may be that an applicant will be offered a high risk class of policy. This means that the premium charged for the policy will be higher than that of the “average” policyholder.
2. Secondary-Progressive Multiple Sclerosis and How Can It Affect Life Insurance
Those who have secondary-progressive multiple sclerosis, or SPMS, may have had multiple sclerosis already for some time. They may be feeling some shift in their disease. This is because those with SPMS start out with another type of multiple sclerosis – Relapsing-remitting MS.
When SPMS starts to move in, an individual’s relapses will not seem to fully go away – and will over time begin to get worse. In addition, there are other symptoms that may also show once SPMS occurs, including tight or stiff muscles in the legs, more difficulty with coordination, problems with the bladder and bowel, and even 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, the life insurance underwriters will want to obtain more in-depth information regarding an applicant’s overall health condition. Therefore, there will typically be questions asked that go beyond those that might appear on the basic insurance application for coverage. This is because even though an individual’s symptoms may subside with SPMS, this will typically occur less frequently than with someone who has RRMS types of multiple sclerosis
In addition to answering these questions, it is likely that life insurance underwriters might want to look over your medical reports. Therefore, they will typically request this information from your main care medical provider and/or from any professional that you visit for your SPMS condition. This will allow the underwriters to gain a clearer view of your overall well-being.
How Much Will Life Insurance Cost for Those with SPMS
Because of the major advancements in medical technology today, those who have secondary-progressive MS have been better able to control their health condition – and, because of this, the prospects for getting life insurance have become more positive. SPMS is, however, still deemed to be a pressing health issue. Due to that, the potential for obtaining a life insurance policy at a Standard rate may be possible. Yet, it is more likely that coverage would be accepted at a 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 and How Can It Affect Your Life Insurance
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 a difficult time walking, as well as will have 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. There are, however, certain types of medication that can be taken that may help to either manage or control the severity and the frequency of an individual’s episodes. Some of these medications may also be able to slow down the disease’s progression and / or reduce the relapses.
What the Life Insurance Underwriters Need to Know If You Have PPMS
For those who have Primary-Progressive Multiple Sclerosis, the underwriters will typically need to know more about your health condition than just the basic data that is asked for in the life insurance application for coverage. 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, a better understanding of your overall well-being may be determined – and thus, a determination regarding your coverage and your policy premium may be made.
How Much Will Your Coverage Cost If You Have Primary-Progressive Multiple Sclerosis
Due mainly to the many medical advancements over the past several years, life expectancy for those who have PPMS has increased – and thus, the life insurance coverage options for those who have PPMS have also been expanded.
It is possible for someone who has MS to obtain a Standard policy rate. However, it is more likely that an individual who is diagnosed with PPMS will be granted a policy with a substandard policy rating.
4. Progressive-Relapsing Multiple Sclerosis and How Can It Affect Your Life Insurance
Progressive relapsing multiple sclerosis also referred to as simply PRMS, is the least common of the four types of multiple sclerosis (MS). This particular form of MS is only thought to occur in roughly 5 percent of all MS cases. Those who are diagnosed with progressive-relapsing multiple sclerosis will typically experience a steadily worsening neurologic function from the very beginning of their disease, as well as occasional relapses such as those who have relapsing-remitting MS, which is another of the forms of multiple sclerosis.
While there is no cure at this time for PRMS, there are ways of treating this disease so that individuals can help in managing and controlling it. Some of the forms of treatment can include the use of interferon beta medications such as Rebif, Avonex, Tysabri, and Betaseron. It is also important that those who have been diagnosed with progressive-relapsing multiple sclerosis take part in rehabilitation activities that can help them with enhancement of their mobility, as well as with promotion of their independence.
What the Underwriters Will Want to Know If You Have PRMS
If you have progressive-relapsing multiple sclerosis, and you’re trying to get life insurance coverage, the underwriters will want to have more knowledge about your health than just the basic information that is requested in the application for coverage. Therefore, you will probably be asked some additional questions.
Also, one part of the underwriting process is that there’s a good chance you will be asked to take some sort of medical exam. Here, the paramedical expert will take your blood pressure and heart rate, as well as a blood and urine sample. The life insurance underwriters may also want to look over your medical reports in hopes of getting a more thorough picture of your full medical history.
Once they have seen all of your information and have a good understanding, the insurance underwriters will be better able to make a decision concerning your coverage. The great news is that today, due in large part to many more favorable treatments for multiple sclerosis, 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
If the life insurance underwriters determine that, other than your progressive-relapsing multiple sclerosis, you are in good condition and do not have any negative lifestyle choices such as smoking, it may be reasonable for you to qualify for a Standard life insurance policy. This indicates that the premium rate for this plan will be in line with those who are regarded to be of average health.
If an applicant cannot qualify for a traditionally underwritten policy, an alternate option may be to apply for a no exam plan. Here, provided that premiums are paid, the coverage will remain in force. And, although the cost is much higher, it could provide the only opportunity for collecting the life insurance protection that is needed.
The type of MS you’re diagnosed with is going to have a huge impact on being accepted and the monthly rates. But regardless of the type, you can and should get a type of coverage.
The Importance of Life Insurance
Life insurance is not one of the most enjoyable shopping experiences, but it’s one of the most significant. Life insurance keeps you the peace of mind knowing that those important to you will have the resources they need to get through a difficult time of losing you.
If something tragic were to happen, would your family have the money they need to pay for a funeral, replace your salary, and pay for any debts or expenses that result? Would you leave behind a mortgage payment or credit card bills? Don’t leave your family with tons of money in debt. Life insurance will be the safety net that you and your family hope to never need.
Life Insurance at an Affordable Rate
With MS, your life insurance rates are going to be higher than average, but that doesn’t mean your policy has to break your bank. There are quite a few ways that you can guarantee that you can get the best premiums possible.
To make sure that this is what you are receiving, make sure that you receive quotes from several companies before choosing one. More than likely, the first quote you get isn’t going to be the lowest. Call a couple companies before you pick one, or we can save you the time on the phone and provide you with the best rates possible.
The other way to get better rates is to focus on your health. Always closely follow your doctor’s orders and take all prescriptions regularly. Being in the best possible health is not only good for your body, but also good for your wallet.
If there are immediate questions you would like answered then you can reach us at 888-229-7522. We have office experts that are available to help at any time.