Multiple Sclerosis and Life Insurance.
In this article, we wanted to take a moment to answer some of the most common questions we get from folks applying for life insurance after being diagnosed with Multiple Sclerosis (MS).
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Multiple Sclerosis?
- Why do life insurance companies care if I have been diagnosed with Multiple Sclerosis?
- What kind of information will the insurance companies ask me or be interested in?
- What rate (or price) can I qualify for?
- What can I do to help ensure that I get the “best life insurance” for me?
So, without further ado, let’s dive right in!
Can I qualify for life insurance if I have been diagnosed with Multiple Sclerosis?
Yes, individuals who have been diagnosed with Multiple Sclerosis can and often will be able to qualify for a traditional term or whole life insurance policy.
The problem is that simply knowing that someone has been diagnosed with Multiple Sclerosis really isn’t going to provide a life insurance underwriter with enough information to make his or her decision about an individual’s application.
This is mainly because…
Multiple Sclerosis is going to affect different people in different ways. Which is why, before being approved for a traditional life insurance policy, one should be prepared to first answer a series of questions about their MS.
And second…
Be prepared to submit your medical records for review so that an insurance underwriter can get a complete picture of how your MS is progressing.
This is also why…
You may want to consider avoiding applying for a no medical exam term life insurance policy as well, seeing how these policies tend to be more difficult to qualify for after someone has been diagnosed with a pre-existing medical condition like MS.
Why do life insurance companies care if I have been diagnosed with Multiple Sclerosis?
Life insurance companies generally consider a variety of factors when evaluating an applicant for coverage, including their overall health and medical history. Having a diagnosis of Multiple Sclerosis (MS) may be a factor that the insurance company takes into account because it is a chronic, progressive disease that affects the central nervous system and can cause a range of symptoms and complications.
The severity of MS can vary widely from one person to another, and the condition may be more or less stable over time. Therefore, an insurance company may ask about an applicant’s diagnosis of MS in order to better understand the potential risks and costs associated with insuring them.
This information can help the company determine the appropriate premium for the policy and ensure that it is able to meet its financial obligations if the policyholder were to pass away.
Multiple Sclerosis (MS) Defined:
Multiple sclerosis (MS) is a chronic, autoimmune disease that affects the central nervous system, which includes the brain, spinal cord, and optic nerves. It is caused by damage to the myelin sheath, the protective covering that surrounds nerve fibers in the central nervous system.
This damage disrupts communication between the brain and the rest of the body, leading to a range of symptoms that can include muscle weakness, tremors, loss of coordination, trouble with balance and mobility, numbness and tingling, vision problems, fatigue, and cognitive changes.
MS is classified as a autoimmune disorder because it is caused by the immune system mistakenly attacking healthy cells in the body. The cause of MS is not fully understood, but it is thought to be related to a combination of genetic, environmental, and immune factors.
Early symptoms of MS may include:
- Tingling or numbness in one’s extremities,
- Muscle pains and/or spasm,
- Muscle weakness,
- Fatigue,
- Balance issues and/or dizziness,
- Bladder issues,
- Sexual dysfunction,
- Difficulty concentrating.
Serious complications of MS may include:
- Epilepsy,
- Depression,
- Paralysis.
Types of mulitple sclerosis:
There are four main types of multiple sclerosis (MS), which are classified based on the pattern of symptoms and the course of the disease:
- Relapsing-remitting MS: This is the most common form of MS, accounting for about 85% of cases. It is characterized by flare-ups (also called relapses) of symptoms, followed by periods of partial or complete recovery (remissions). During a relapse, new symptoms may appear or old symptoms may worsen. Between relapses, there may be no symptoms or only minor ones.
- Secondary progressive MS: This type of MS begins as relapsing-remitting MS, but eventually progresses to a stage where symptoms continue to worsen over time, with or without relapses. This transition typically occurs about 10-20 years after the initial diagnosis.
- Primary progressive MS: This form of MS is characterized by a gradual worsening of symptoms from the outset, without any relapses or remissions. It accounts for about 10-15% of cases.
- Progressive relapsing MS: This is a rare form of MS that involves a progressive worsening of symptoms from the outset, along with occasional relapses and partial recoveries. It accounts for about 5% of cases.
The course of MS can vary widely from one person to another, and it is difficult to predict how the disease will progress in an individual case. Some people with MS may have only mild symptoms and a relatively normal life expectancy, while others may experience significant disability and complications.
Unfortunately…
There is currently no cure for multiple sclerosis (MS), but there are a number of treatments that can help manage the symptoms and slow the progression of the disease. The specific treatment plan will depend on the individual patient’s needs and may include a combination of the following:
- Disease-modifying therapies: These medications are designed to alter the course of the disease and can help reduce the frequency and severity of MS flare-ups (also known as relapses). Examples of disease-modifying therapies include interferon beta, glatiramer acetate, and natalizumab.
- Symptom management medications: These medications can help manage specific symptoms of MS, such as spasticity (muscle stiffness), bladder and bowel problems, and fatigue. Examples of symptom management medications include baclofen, diazepam, and amantadine.
- Physical therapy: Physical therapy can help improve mobility and function, as well as reduce fatigue. It may include exercises to improve strength, balance, and coordination, as well as assistive devices such as canes, walkers, and wheelchairs.
- Occupational therapy: Occupational therapy can help individuals with MS learn new skills or adapt to changes in their abilities, in order to perform daily activities more easily. This may include adapting the home environment, learning new ways to do tasks, and using assistive devices.
- Supportive care: This may include counseling and support groups to help individuals with MS and their families manage the emotional and social impacts of the disease. It may also include rehabilitation services to help with any physical or cognitive changes caused by the disease.
What kind of information will the insurance companies ask me or be interested in?
Life insurance companies will generally ask about your medical history, including any diagnoses of chronic conditions like multiple sclerosis (MS), as part of the application process.
They may ask for details about your diagnosis, such as when you were diagnosed, what type of MS you have (there are four main types: relapsing-remitting, secondary progressive, primary progressive, and progressive relapsing), and what treatments you have received.
The insurance company may also ask about the severity of your MS, including any symptoms you have experienced and how they have affected your daily life and ability to work.
They may ask about any hospitalizations or surgeries you have had related to your MS, and any ongoing or anticipated medical treatment or rehabilitation.
In addition to asking about your medical history, the insurance company may also ask about your lifestyle and overall health.
This may include questions about your diet, exercise habits, and whether you smoke or use tobacco products.
All of this information is used to assess the risk associated with insuring you and to determine the premium for your policy.
Specific questions my include:
- When were you first diagnosed with Multiple Sclerosis?
- Who diagnosed your multiple Sclerosis? A general practitioner or a specialist?
- What symptoms led you to believe you may have Multiple Sclerosis?
- Have those symptoms worsened since first diagnosed, or have they remained stable?
- Have you been diagnosed with any other pre-existing medical conditions?
- Are you taking any prescription medications right now?
- In the past 12 months, have any of the medications that you’re taking to treat your MS changed in any way?
- In the past 12 months, have you suffered from any “episodes” or “attacks”? If so, how many?
- In the past two years, have you been hospitalized for any reason?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
What rate (or price) can I qualify for?
As you can see, there are many factors that can come into play when trying to determine what kind of “rate” you might qualify for after being diagnosed with Multiple Sclerosis. For this reason, it’s almost impossible to know what kind of “rate” you might qualify for without first speaking with you for a few minutes.
That said, however…
There are a few “assumptions” that we can make that will generally hold true about individuals with MS when applying for a traditional life insurance policy.
For example, if an individual has only suffered from one or two different MS “episodes”, and since their last attack, their MS has stabilized, it’s quite possible that someone might be able to qualify for a traditional life insurance policy.
Individuals like these…
Will still be considered a “high-risk” or “sub-standard” candidate, but at the end of the day, they may still be able to qualify for an affordable term or whole life insurance policy.
Now for those who don’t meet these requirements or are applying for life insurance after their MS has already caused them to develop some serious complications, it’s likely that they won’t be ale to qualify for a traditional life insurance policy.
The good news is…
That regardless of your situation, we here at IBUSA can help because we have tons of experience helping folks with all sorts of pre-existing medical conditions like yours and are committed to helping all of our clients find the “best” life insurance policy that they can qualify for.
This brings us to the last topic that we wanted to take a moment and discuss, which is…
What can I do to help ensure that I get the “best life insurance” for me?
In our experience here at IBUSA, what we have found that usually, the folks who seem to find the “best” life insurance policy for them are those that:
- Take their time reviewing their options.
- Ask a lot of questions.
And seek out those life insurance agents who not only have experience working with individuals who have been diagnosed with a wide variety of pre-existing medical conditions but also have access to dozens of different life insurance companies so that when it comes time to helping a more “challenging” case, they don’t have to rely on a…
“One size fits all approach!”
The good news is that this is exactly what you’re going to find here at IBUSA!
Now, will we be able to help out everyone who has been previously diagnosed with MS?
No, probably not. But what we can tell you is that in addition to offering a wide variety of different term and whole life insurance policies, IBUSA has also worked very hard to establish relationships with many of the Best Final Expense Insurance Companies as well so that if someone isn’t able to qualify for a traditional life insurance policy, chances are there may be some other “type” of product that you CAN qualify for.
So, if you’re ready to see what options might be available to you, just give us a call!
