Life Insurance with Multiple Sclerosis

Multiple Sclerosis & The Need For Life Insurance

MS is a severe disease that will affect both your health and your bank account.  It’s vital that you have a financial plan in place to help combat these effects.  

Health Impact

M.S. is a disabling neurological disease in which the immune system eats away at the protective covering of your nerves, disrupting the communication between the body and the brain. Over time individuals typically lose physical independence.   These effects directly impact life expectancy, and according to the National MS Society, MS patients live about seven years less than the average healthy adult. 

M.S. has different relapsing, remitting, and progressive types. Most often, the exact course the disease takes is impossible to predict. And worst of all, there is no cure.

The good news is that there are life insurance options for people with Multiple Sclerosis regardless of which type of severity of symptoms. 

Financial Impact 

Multiple Sclerosis is a managed care nightmare. The stakes are not immediately life or death as with Cancer or other diseases; however, once diagnosed with M.S., the individual will need to figure out how to pay for the costly ongoing treatment for the rest of their life.

Despite there being many different prescriptions on the market, the cost of M.S. prescription drugs has not reduced.  Instead, they have increased significantly since their inception in the early 1990s.

Individuals living with M.S. face ever-increasing costs for the vital prescription drugs they need to keep the disease in check. These life-long treatments are a burden to all individuals who are not independently wealthy. 

Besides treatment costs, many diagnosed individuals leave the workforce early, which further increases financial hardship which can spew over into the lives of surrounding loved ones. 

How Life Insurance Can Help People with M.S.

As mentioned above, the route in which your disease progresses is impossible to predict. That is also is true for the disease’s effect upon your finances and retirement plan. A life insurance policy provides guaranteed funds for your family regardless of how the disease unfolds.  

Life insurance funds help to reduce or eliminate your end-of-life costs and act as a financial safety net for your loved ones.  The death benefit helps pay for funeral costs, medical bills, or personal debts such as credit cards.  There are no restrictions on how your beneficiary can use the money. 

Life Insurance Options For People with Multiple Sclerosis

Most people are aware that individuals with pre-existing medical conditions have fewer life insurance options than those without.  The good news is you still have options.

While individuals with M.S. no longer qualify for traditional coverage, there is one last option that forgoes all medical underwriting.

Guaranteed acceptance life insurance is the last resort option for individuals with severe health complications and disease.  There are no medical exams or any health questions.   These policies provide guaranteed coverage for all individuals age 50 to 85, regardless of health status.

Policies range from $5000 – $30,000.  And there are several companies that offer living benefits that allow you access to your funds if you experience certain life events or hardships.

Premium Cost

Guaranteed acceptance policies do cost more than policies that have medical underwriting. However, that doesn’t mean they’re unaffordable.  Because policy size is smaller than other forms of coverage, the premiums are relatively affordable for most households.

Finding Your Best Policy & Price

If you’re shopping on a budget, it’s essential that you take the time to shop and compare all your options before purchasing.  Premium rates can vary as much as 30% between carriers.

Our independent agency specializes in helping individuals with severe and chronic health conditions secure the funds they need to protect their families.  We’ll help you shop and compare all the top-rated carriers to quickly located your best policy and lowest price.

Our services are free. And there’s never any obligation when working with an agent.

If you’re looking for life insurance with M.S., let out agency help you find your best policy.   Explore your options today.

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