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Wednesday, August 8, 2012

MS Life Insurance

In a past article, we talked about how using an expert in multiple sclerosis life insurance can save you lots of money and frustration in obtaining life insurance coverage.   What is it that MS life insurance specialists look at to help you get the best price? Here is some of what goes into underwriting for MS.
·         Type of multiple sclerosis. A person with Relapsing/Remitting Multiple Sclerosis is most likely to get a policy that will pay 100% of the death benefit from day one, and the lowest rates. For any of the Progressive types of MS, there are policies available, but they often No Exam policies that have a waiting period of 2-4 years before they pay 100% of the death benefit. Of course, there are exceptions, as sometimes people with Relapsing/Remitting MS have many serious complications, while some people with one of the Progressive types of MS have been misdiagnosed or have had no progression for years. An experienced MS life insurance specialist will sort this out and find the best rate for any scenario.

·         When diagnosed. Most life insurance companies like to wait a year after an MS diagnosis so they can see stability before making an offer. However, there are also policies that one can get shortly after being diagnosed with multiple sclerosis. Policies are higher priced when obtained in the first year, but can be replaced if/when able to obtain a more favorable rate down the road. After that first year, the rate does not depend so much on how long someone has had MS as it does the symptoms, whether there are new lesions, and frequency of exacerbations.

·         Symptoms. It seems that no two people with MS have exactly the same symptoms, and therefore underwriting for MS life insurance can be complicated. Generally, the fewer the symptoms, the better the rate will be. Symptoms considered are: need of assistance for walking, depression, incontinence, nerve pain, memory loss, frequency of exacerbations, and whether one needs home health or institutionalized care. Whether or not you are capable of working fulltime is also a consideration. There are policies to cover almost every symptom, so never assume you are uninsurable due to MS.

·         Treatment. People who have had good results with approved MS treatments such as Copaxone, Rebif, and Avonex are likely to get better rates than those who cannot tolerate treatment, or have used an unconventional treatment such as stem cell transplant. The best multiple sclerosis life insurance companies do keep up with research, so we expect that as approved treatments evolve, life insurance rates will reflect the effectiveness of the treatment.

When choosing life insurance, people with MS may find some types of coverage more available, or more suitable, for their situation than others. That is a whole blog to itself. Just know that there are professionals out there who know what they are talking about when it comes to MS Life Insurance. You are not alone, you are not unique, and you can get responsible and money saving advice.

For more information, contact Peggy Mace, COO of Outlook Life, at

The above message has been provided for informational purpose



Insurance SA said...

Everyone should certainly have equal access to life insurance regardless of pre-existing conditions. However, you could end up paying a higher premium as rates are calculated based on the risk of you dying.

Laura from

Insurancelink said...

Thanks for sharing such a resourceful information, this can be very helpful to people who have many misconceptions about life insurance.