Life Insurance And Ms: What Coverage Is Offered?

Life insurance is a way to protect your loved ones financially after you pass away. It is a lump sum paid out to your family to help them with living costs, mortgage payments, and other expenses. But what happens if you have a pre-existing medical condition like multiple sclerosis (MS)? Does life insurance cover MS?

The short answer is yes, you can get life insurance if you have MS. However, the cost of your premiums and your eligibility will depend on your personal circumstances and the insurance provider. Some insurers are better than others when it comes to pre-existing conditions, so it's important to shop around and get expert advice.

The type of MS you have, the severity of your symptoms, your age, and your treatment plan will all be factors in determining your life insurance premiums. Relapsing-remitting MS is the least severe and most common form, and it is often the cheapest and easiest to get insurance for. On the other hand, primary progressive MS is usually the most severe type and can be more difficult to get cover for.

If you have MS, it is important to be open and honest with your insurer from the start. Non-disclosure of your medical condition could invalidate your policy and prevent a payout. It is also crucial to understand that life insurance is not designed to provide a payout if you are diagnosed with a life-changing illness like MS; for that, you may need critical illness cover or income protection insurance.

In conclusion, while it may be more challenging and expensive, it is possible to get life insurance if you have MS.

Relapsing-remitting MS life insurance

Relapsing-remitting multiple sclerosis (RRMS) is the most common form of the condition, affecting around 85% of people with MS. It is characterised by attacks of new and old symptoms, known as relapses, followed by periods of recovery. During relapses, people may experience symptoms such as trouble with balance, lack of coordination, numbness or tingling, difficulty thinking clearly, and a frequent, urgent need to pee. These symptoms usually come on over a short period of time and can last for several weeks.

If you have relapsing-remitting MS and are looking to purchase life insurance, it is important to know that it is definitely available to you. In fact, it is very rare for someone with this condition to be unable to obtain life cover, and premiums are generally only slightly higher than a standard life insurance quote. Most insurance providers will offer cover for relapsing-remitting MS, and there are at least two providers that offer very good terms for this type of cover.

When applying for life insurance with relapsing-remitting MS, there are several key factors that will be considered by the insurance company:

• Regularity of symptoms (date of last symptoms)
• Treatments and medication
• Complications (e.g. memory loss, walking aids, etc.)

It is important to note that critical illness cover or income protection insurance is currently not available for people with relapsing-remitting MS. Additionally, premiums for life insurance can vary significantly between providers, so it is advisable to shop around and get advice from a medical life insurance specialist to ensure you are paying a fair price.

The cost of life insurance with MS will depend on various factors beyond the condition itself, including the type of policy, the amount of financial cover needed, and the insurance provider. While it is difficult to provide an exact quote without knowing these specifics, an example can help illustrate the potential cost. For instance, a 37-year-old woman with relapsing-remitting MS who wants a term life policy with a duration of 35 years and a payout of £100,000 can expect to pay approximately £171.72 per year or a total of £6,010.20.

In conclusion, while relapsing-remitting MS may impact your life insurance options, it should not prevent you from obtaining the necessary coverage. By understanding the key factors considered by insurance companies and seeking expert advice, you can find the best policy to protect you and your loved ones.

Secondary progressive MS life insurance

If you've been diagnosed with secondary progressive MS, it is still possible to get life insurance, and it can be cheaper than you think. Life insurance premiums for people with secondary progressive MS will depend on your symptoms, age, and general mobility. Premiums will generally be higher for this type of MS, and you may need to get cover from a specialist life insurance provider.

• Do you use walking aids?
• Which type of walking aids do you use?
• How often do you use walking aids?
• How far can you walk independently without the use of walking aids?
• Do you have any MS complications, such as memory loss, numbness, or tingling?

If you've been diagnosed with secondary progressive MS, you should speak to a medical life insurance specialist to have the best chance of getting cover. Your insurance provider will also ask to view a copy of your medical records, which they will obtain from your GP. This is a standard procedure and won't cost you anything.

Primary progressive MS life insurance

Primary progressive multiple sclerosis (PPMS) is usually the most severe type of multiple sclerosis and can be the most difficult for someone to get life insurance cover for. However, it is still possible to get life insurance if you've been diagnosed with primary progressive MS.

People with primary progressive MS may need to get life insurance from a specialist provider. This doesn't mean that the quality of the cover is lower or that there are restrictions and risks with this type of cover. Specialist insurers are generally better in this situation.

Your mobility and the severity of your symptoms will play a big part in whether life insurance is available and how much your premiums will be. By getting proper advice from a medical life insurance specialist, you should save significant time and money.

There are also several alternative types of life insurance for people with primary progressive MS if traditional life cover is not available. If you've been refused life insurance in the past because of your MS, you should speak to a specialist.

Critical illness cover and MS

Critical illness cover is a type of insurance that pays out a tax-free sum if you are diagnosed with a serious medical condition. This sum can be used to pay off your mortgage or rent, manage outgoings if your health forces you to take time off work, or pay for adaptations to your home, among other things.

Multiple sclerosis (MS) is considered a critical illness by most insurers and is therefore usually covered by critical illness insurance. However, there may be certain conditions that apply.

Many critical illness insurance policies do cover MS. However, some insurers only pay out if your illness closely meets the definition in their policy. Some critical illness policies state that they will only pay out if:

> "A definite diagnosis of MS is given by a Consultant Neurologist. There must be current clinical impairment of motor or sensory function, which must have persisted for a continuous period of at least 6 months."

It is important to carefully check the terms and conditions of each policy to determine which one will be able to offer you the most protection for the best price. Working with an insurance advisor can be beneficial in this regard.

Finding a critical illness provider that will agree to insure you for MS after you have already been diagnosed may be difficult. The majority of insurers will usually exclude you from their policies. However, with the help of expert advisors, it may be possible to find a critical illness insurer that is willing to offer you cover.

The price you pay for your critical illness cover for MS is based on the insurance company’s assessment of how likely you are to make a claim. To calculate this, they may look at information about your health, BMI, age, and medical history. For example, if you have a history of MS in your family, the insurer may conclude that they are more likely to have to pay out and therefore may charge you more for your cover.

With some insurers, it may be possible to reduce the price of critical illness insurance for MS by adapting your lifestyle to improve your overall health. Applicants who are non-smokers, with a healthier BMI or lower blood pressure may find that the price of their premiums is lower.

How to find critical illness insurance that covers multiple sclerosis

Working with a critical illness insurance expert can be helpful when trying to find critical illness insurance that covers MS. They can compare numerous quotes and examine your contract to detect any clauses that could prevent you from receiving a payout. They can also provide guidance on which insurers are most likely to offer you the best protection for the best price.

Income protection insurance and MS

Income protection insurance pays you a replacement of your monthly income if you are unable to work due to ill health.

There are currently very limited options for people with multiple sclerosis to have income protection. It is recommended that you speak with a specialist advisor who can fully explain the different options available to you.

Accident, Sickness and Unemployment cover is a form of short-term income protection that can be arranged without detailing your medical history, so your multiple sclerosis will not be a factor in your ability to have it. This type of policy will pay out a monthly income replacement for between 12-24 months if you are unable to work due to ill health or redundancy. However, it is important to know that while your MS is not considered when you arrange the policy, the policy will exclude any claims related to your multiple sclerosis.

Frequently asked questions