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Buying Life Insurance with Multiple Sclerosis

Researcher & Writer
April 08, 2020

If you are in the market for life insurance, then you probably already know that life insurance companies usually want a full medical history before underwriting your policy. So, what does that mean if you have multiple sclerosis? Some people may fear that it is impossible to get life insurance with multiple sclerosis, but we have good news for you! You can still get life insurance even if you have MS.

What is Multiple Sclerosis?

Multiple sclerosis is when your brain lacks the ability to send correct signals to other parts of the body. MS is a unique disease in that the symptoms manifest in a different way for every patient. It can affect the brain, spinal cord, or various bodily functions. Most patients will have muscle weakness and trouble walking. Because this is a degenerative disease, it gets worse with time. However, there are treatment options available that slow down degeneration drastically.

What should I know about getting life insurance with Multiple Sclerosis?

The first thing you should know about applying for life insurance with multiple sclerosis is that it is possible for you to get coverage. If you have been rejected by an insurance company either in the past or recently, then you should look around for other options because there is a very good chance that there is a multiple sclerosis friendly high risk life insurance company out there for you.

The second thing you should know is that life insurance companies are more likely to underwrite your policy if you were diagnosed one or more years ago. If you have been diagnosed with multiple sclerosis in the last year, then it is difficult for you – and the insurance companies – to predict the course it will take. The longer you have had the disease, the more information you have about your specific case, and the easier it is to notice patterns, and be prepared for what may happen. Since no two cases of MS are the same, knowledge of your own medical history and how the disease is affecting your body is your best defense.

What will a life insurance company ask me before underwriting my policy?

As a person with multiple sclerosis, in addition to asking about when you were diagnosed with the disease, a life insurance company will ask you a specific set of questions to find out more about your health. These are not the same across insurance companies, but the following will give you a pretty accurate idea of what to expect:

  • Are you a smoker, and if yes, how much do you smoke? As you already know, smoking is bad for your health. If you are an MS patient, smoking is even worse and tends to aggravate the disease.
  • Have you ever been hospitalized due to MS? The insurance company will use this in part to understand the severity of your MS, as well as to know more about the affects its had on your body.
  • When was your most recent attack? Multiple Sclerosis has ongoing symptoms, but also attacks or seizures.
  • How many attacks have you had in the last twelve months? The number of attacks you’ve had is a good indicator as to how the disease is progressing.
  • What is your current treatment program? Life insurance companies like to know how you are managing your MS.
  • How has your body responded to your current treatment program as well as past ones?

In addition to asking you these and other questions, a life insurance company may ask for more information from the doctor that is treating you. This helps the insurance company to get a better idea of your current state and future prognosis.

Will I get a life insurance policy with MS?

The short answer is yes. The types of life insurance policies available, the cost, and the coverage, however, will depend on how advanced your MS has become. If:

Your attacks are very infrequent and have had no major incidents then you will likely qualify for a standard policy and will not have to pay a premium.

You have somewhat regular attacks and/or receive disability benefits from the government then you will likely have to pay a premium. The premium you pay will depend on the specifics of your situation and will only be known after a thorough assessment by your desired life insurance company.

You reside in an assisted living care facility or are dependent on a caretaker then it may be difficult or impossible for you to get life a insurance company to underwrite a standard policy. You may be eligible for a life insurance policy with less coverage and certain stipulations, such as burial insurance.

For those with a more advanced form of multiple sclerosis, you may need to consider choosing life insurance from the top burial insurance and final expense companies.

How can I get more information about getting life insurance with Multiple Sclerosis?

If you or someone you love has multiple sclerosis and you want more information about getting life insurance under such a circumstance, the best idea is to get in touch with a qualified agent. 

We can help you find a life insurance policy that works well with your life circumstances and the stage of your multiple sclerosis. We represent you and your needs while searching for a multiple sclerosis friendly life insurance company and policy. If you would like a free consultation, then get in touch with us today.

So, what are you waiting for?  Give us a call today or visit our Life Insurance Quotes page and see what we can do for you.

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