Life Insurance With MS
When you are first diagnosed with Multiple Sclerosis, the last thing you think about is if you will be able to get life insurance. Instead, you are likely to be overwhelmed by fears about the future and confronting the possibility of living with pain and disability. You will be wondering how you, your family and loved ones will cope.
There is no doubt that the newly diagnosed go through a period of immense stress. However, once the initial shock of diagnosis subsides, you will want to research and deal with the practical aspects of living with MS. One of the most important tasks is to secure MS life insurance.
The common questions that you will be considering are:
- Will I be refused life insurance?
- Will I be able to find cover?
- Will I be able to afford it?
- How do I know the MS life insurance premium is fair?
For people who suffer with a Progressive form of MS, the task of securing Life Insurance can be a very difficult one. The reality is that many people in their first attempt to secure life insurance with MS will find that they are refused outright. In fact around 90% of the Life Insurance providers in the UK will instantly decline an application if you disclose Primary or Secondary Progressive Multiple Sclerosis. People with Relapsing Remitting MS are much more likely to be accepted.
For the majority of people with MS, life expectancy is reduced by less than six years compared to the general population. On top of all the turmoil you have experienced, this refusal or heavy loading of premium feels like discrimination and can be very hard to deal with.
The complexities of MS, the different types, stages, how the symptoms vary dramatically between people and a lack of understanding of the condition mean that the majority of insurers do not invest in tailoring their service to match the nuances of the condition.
There are however a small number of insurance providers that will consider an application, no matter what diagnosis you have been given. These MS insurance companies will look into the severity of your condition, frequency of your symptoms and complications you may have experienced and underwrite with this information instead.
At Your Life Protected, we monitor changes in the multiple sclerosis insurance industry very closely so that we know which insurance companies provide the best insurance without unfairly loading your premiums. We have an excellent working relationship with them so that we can almost always gain you cover at a fair cost. There are some instances where cover may be impossible to secure. To find out if you are eligible or for more information, give us a call on 01275 404268 or get a quote for life insurance with MS.