Life Insurance With Multiple Sclerosis
If you have multiple sclerosis, you might think that it is difficult or impossible to get life insurance. The good news is that you can get life insurance with multiple sclerosis. Your final health rating will ultimately depend on the severity of your multiple sclerosis. Since each life insurance company has its own underwriting guidelines, it is important to shop your case to find the company that will give you the best rating for your particular situation. Here is what you need to know about life insurance with multiple sclerosis.
What is Multiple Sclerosis?
Multiple sclerosis is disease where the body’s immune system attacks its central nervous system, which is made up of the brain, spinal cord and optic nerves. Within the central nervous system, the immune system attacks myelin – the fatty substance that surrounds the nerves – as well as the nerve fibers themselves. The damage to the nerves ultimately affects the transmission of nerve impulses within the central nervous system causing a variety of symptoms. The cause of multiple sclerosis is still unknown. Many doctors believe that immunologic, environmental, infectious and genetic factors may all contribute to the cause of the disease.
What You Need to Know About Getting Life Insurance with Multiple Sclerosis
The severity of your multiple sclerosis will play an important role in determining your rating. You will most likely be assessed as having mild, moderate or severe multiple sclerosis.
Mild – If you were diagnosed several years ago and have infrequent attacks and no disability, you could qualify for a ‘Standard’ rating.
Moderate – If your disease is progressing with more frequent attacks and you have some neurological issues, your rating will most likely be ‘Substandard’ or ‘Table Rated’.
Severe – If you are wheelchair bound with and in need of assistance with any of the 6 Activities of Daily Living (ADL’s) (eating, bathing, dressing, toileting, transferring and continence), you will most likely be severely ‘Table Rated’ to ‘Decline’.
Your medical records will be reviewed by the insurance company, which will add some additional time to underwriting. That is why it’s important to stay up to date with checkups and treatment. Don’t be intimidated by the underwriting process. It may take some time, but in many cases you can get fully underwritten life insurance with multiple sclerosis.
What the Life Insurance Company Wants to Know About Your Multiple Sclerosis?
Here are some of the key questions the life insurance company will ask about your multiple sclerosis during underwriting.
- Date of Diagnosis? This is important because the longer you have lived with the disease, the more information the insurance company will have to work with. If you’ve been recently diagnosed (within a year), it will be harder to get coverage.
- Frequency of Episodes? This is an important marker to determine the severity of your disease and how quickly it is progressing.
- Course of Treatment? This will include medications and any other physical or psychological therapy that you are receiving. It will also show how serious you are about managing your disease.
- How Are You Responding to Treatment? Certain people with multiple sclerosis respond well to medication that helps them better manage the disease.
- Degree of Disability? This is asked to determine if episodes are mild with little issues or debilitating enough to force you to miss work or be hospitalized. If there is a disability, what is your Expanded Disability Status Scale (EDSS) score?
- Is There Recovery Between Episodes? This will help the life insurance company determine the severity of your disease.
- Symptoms? Some symptoms of multiple sclerosis include vision loss, weakness or numbness in limbs, loss of mobility and cognitive or other neurological impairment.
- Is Assistance Required With Activities of Daily Living? As mentioned previously, if you are unable to perform any of the ADL’s, this will negatively impact your health class rating.
What if You Have Been Declined for Life Insurance With Multiple Sclerosis?
If you’ve been declined life insurance with multiple sclerosis, don’t panic. There is a chance that you simply applied with the wrong company. Most agents out there don’t know which companies provide the best rates for life insurance with multiple sclerosis. We do. We will assess your situation and shop your case to the best life insurance companies for multiple sclerosis. If you are indeed uninsurable with a fully underwritten policy, we can also show you a guaranteed issue policy option as well.
Can You Get Life Insurance With Multiple Sclerosis?
The good news is yes you can! In some cases, ‘Standard’ rates will be available. Of course, your final health rating will depend on your particular situation. The key to getting the best rates for life insurance with multiple sclerosis is to use an independent agency, like ours, that has access to multiple insurance companies. We know which companies offer the best rates for life insurance with multiple sclerosis. We shop over 40 of the top life insurance companies to find you the best rate for your situation. Give us a call at 888-687-9444 or email us at info@archstoneagency.com to find out your coverage options.
About Us
Archstone Insurance Services, LLC is an independent agency that shops over 40 of the top life insurance carriers to provide huge savings on life insurance coverage for our clients. We are happy to answer any questions you might have about any of the insurance products we offer, your planning needs or your existing coverage. Feel free to call us directly at (888) 687-9444 or email us at info@archstoneagency.com.
