With an current estimate of just over 400,000 people in the United States diagnosed with multiple sclerosis, with nearly 200 new cases being diagnosed each and every week, it really shouldn’t come as any surprise that we’ll frequently receive calls from folks asking us if their Tecfidera prescription is going to affect the outcome of their life insurance application.
After all, Tecfidera is a very common medication used to help manage symptoms of multiple sclerosis.
Tecfidera (Dimethyl Fumarate) is a prescription medication that is commonly used to help treat relapsing forms of multiple sclerosis (MS). Tecfidera (previously known as BG-12) is not a cure for multiple sclerosis, it simply helps decrease the number of “episodes” one with MS may suffer from.
So will taking Copaxone effect the outcome of my life insurance application?
When it comes to determining how your Tecfidera prescription will affect your life insurance application, it’s pretty safe to say that the “Tecfidera prescription” alone won’t necessarily be the determining factor with your life insurance application.
What will become more important is…
How well is your Tecfidera prescription controlling your MS episodes?
Most important factors when it comes to applying for life insurance after you’ve been diagnosed 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.
The good news…
Is that we here at TermLife2Go have a ton of experience working with folks who have been prescribed Texfidera, we’re not afraid to take on a “challenging” application if it means that we’ll be able to help you get the best life insurance policy that you can qualify for.
So what are you waiting for? Give us a call today and see what we can do for you!
Lastly, for those who would like to get an idea about how much their life insurance might cost before speaking with an agent, we would recommend that they check out our Life Insurance Rates page when you have a few moments to spare.
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.