Multiple Sclerosis Insurance Questions & Answers
How do life insurance underwriters view individuals who have multiple sclerosis?
Underwriting requirements for those seeking to find life insurance with MS will vary. As multiple sclerosis is a medical condition that is progressive, how you will be rated will depend on whether your condition is stable, or whether the condition is more aggressive and the length of time you have had the condition.
Life insurance companies view MS as a higher risk to insure because it is progressive in nature. If your condition has been more recently diagnosed and is relatively under control, you will likely receive a better rating.
However, if your symptoms are more severe and not under control, or if you have had the disease for more than 10 years, you will receive a much less favorable rating or may be declined by most traditional companies.
There are companies which specialize in insuring individuals with high risk health issues. The rating and premium charged will largely be dependent on your medical exam results and any other additional medical information required by the life insurance company.
What is the health risk of multiple sclerosis?
Multiple sclerosis is considered a chronic and progressive medical condition. A variety of medications are used to treat those who have multiple sclerosis.
MS is a disease which impacts and results in damage to the nerve sheaths in the brain and spinal cord. Physical and neurological symptoms can vary extensively.
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The most common medical symptoms include spasms or weakness in your extremities, speech impairment, tremors, vertigo, facial palsy, cognitive dysfunction, severe fatigue, and other potential multiple physical or neurological impairments.
How the disease affects a person can vary from individual to individual. Some individuals may initially have only mild symptoms which can be controlled quite successfully with medication.
Other individuals who may have a much more aggressive form of the disease could experience more dramatic symptoms and a higher degree in their physical and/or neurological impairment.
Finding life Insurance with MS
Those who have milder forms of MS which has only been recently diagnosed and whose symptoms are being treated with relative success through medication will receive a better ratings and lower premiums than those who have a more aggressive form the disease. If you are in the former category, then you should not delay and should apply for a life insurance policy sooner rather than later.
If your disease is considered more aggressive then you will likely receive a lower rating. Also, should your disease is considered more severe or if you have had the disease 10 years or longer, then most traditional companies may decline you altogether.
Even if your disease is much more aggressive, and you have been declined, there are still other forms of life insurance policies available such as a Guaranteed Issue No-Medical Exam policy or a Graded-Death-Benefit life insurance policy. The premiums are higher and the amounts of available coverage are lower, but you can still get some form of life insurance coverage regardless of the severity.
To find out how much a life insurance policy might cost you then complete the price quote form immediately below.
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