Can I get life insurance if I have MS?

Yes, even if you have been diagnosed with multiple sclerosis it’s possible to secure life insurance to protect your loved ones' should the worst happen.

Your eligibility for life insurance and the cost of your premiums will depend on your personal circumstances.

Using a specialist life insurance broker, such as Reassured, is a quick and easy way to help you find the right financial protection for your family.

We compare multiple policies from a panel of major UK insurers, as well as smaller specialists, allowing us to identify the best options to suit your needs (without charging you a penny).

Simply get in touch today for your free quotes.

Keep reading this in-depth guide on MS and life insurance to find out everything you need to know. Topics covered include:

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Do you need MS life insurance?

Most people would benefit from having some form of life insurance in place, especially those with dependents.

Life insurance can be even more important for those with degenerative medical conditions, such as multiple sclerosis, where the risk of developing other health issues is heightened.

Should anything happen to you, a life insurance pay out could provide a vital safety net for your family to help them cover:

  • Mortgage or rental payments (average mortgage debt in the UK is currently £142,755[1])
  • Family living costs (expenses such as food, clothes, education, transportation, leisure activities)
  • Household bills (council tax, gas, water, electricity, broadband, telephone)
  • Outstanding debts (credit cards, an overdraft, car finance agreements, personal loans)
  • Additional childcare (full-time childcare in the UK costs an average of £285.31 per week[2])
  • Funeral expenses (the average cost of a funeral in the UK is currently at £3,935[3])

So, for peace of mind, get in touch with Reassured today to protect your loved ones’ financial future.

How much MS life insurance do you need?

Work out how much life insurance you may need based on your current financial commitments and what you want your policy to cover. Simply fill in the fields which apply to you for an instant calculation.

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£137,934 is the estimated mortgage debt per household in the UK.

The purchase of a home is likely to be the largest financial commitment any of us will make in our lifetime. Your life insurance should cover your remaining mortgage balance to allow your loved ones to stay in the family home should anything happen to you.

Source: Moneynerd.co.uk
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The average monthly household budget in the UK is £2,548 (that’s £30,576 per year), which is spent on transport, food & drink, utilities (gas, electricity, water etc), clothing, council tax and leisure activities.

With energy prices hitting a record high and the cost of living rising sharply in the UK, you may wish to factor in utility bills and family living expenses into your cover.

Source: Nimblefins.co.uk
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The average personal debt of UK adults has risen to £34,566 (not including mortgage debt), with credit cards, personal loans and overdrafts being the most common forms of debt.

Factoring in any debts into your life insurance cover means that, if they need to be paid back from your estate after your passing, your loved ones won’t miss out financially.

Source: Money.co.uk
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According to SunLife, the average cost of a funeral in the UK is £3,953 (with the overall cost of dying at £9,200).

Funeral costs have increased by 116% since 2004 and are a significant cost which should be factored into the amount of life insurance you secure.

Source: SunLife.co.uk
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When factoring in cover for your children, you may wish to calculate the amount based on how long it is until they reach financial independence.

This could include childcare (£7,000 per year for part-time care), school expenses (£1,519 per school year for uniforms, lunches, stationary etc), as well as an additional sum for further education (this could be a contribution of up to £5,000 per year).

Sources: Daynurseries.co.uk, Primarytimes.co.uk & Savethestudent.org
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2 in 5 adults say they are relying on an inheritance to fund their retirement.

Factoring in an inheritance to your sum assured could allow loved ones to live a more financially comfortable life. Alternatively, you could leave a cash gift to a charity of your choosing.

Source: Moneyage.co.uk
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If you’re lucky enough to have your own savings or are part of the 30% of UK residents who already have a life insurance policy in place, this can provide financial protection for loved ones.

By entering your current cover, savings or death in service amount you can reduce the sum assured you require.

Source: Scottishbusinessnews.net
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Is MS a pre-existing condition?

Yes, if you’ve been diagnosed with MS before applying for life insurance then this will be classified as a pre-existing medical condition.

Pre-existing conditions must be disclosed during the application process to ensure you’re provided with the right cover.

If you withhold information or provide false details, this is known as non-disclosure, and it could prevent a pay out from being made when the time comes.

It’s still possible to secure life cover with a pre-existing condition. However, it can be more difficult to arrange some forms of life insurance.

Fortunately, we have a team of experts who can help you compare various policies to find you our most suitable options.

The MS Society estimate that there are over 130,000 people with MS in the UK. Nearly, 7,000 people are newly diagnosed each year[4].

Does life insurance pay out for MS?

Yes, life insurance provides your loved ones with a lump sum pay out if you pass away while your policy is active.

As long as all the information you provided during the application process was correct, then your loved ones will receive a life insurance pay out.

If you develop MS whilst your life insurance is already in place, then you don’t need to inform your insurer of your diagnosis.

Bear in mind, life insurance isn’t designed to provide you with a pay out if you’re diagnosed with a life-changing illness, such as multiple sclerosis.

If you’re looking for this type of protection, then you may consider critical illness cover or income protection insurance.

Can I get life insurance with family history of MS?

Yes, if you have a family history of MS it’s still possible to secure life insurance.

MS isn’t directly inherited but those who are related to someone with the condition are more likely to develop it[5].

During the application process you’ll need to give details about your family medical history and this will be considered to help calculate the cost of your premium.

Your personal circumstances (such as how many family members have the condition, how close in relation they are to you and how severe the condition is) will determine whether this has impact on your cover.

Getting life insurance with MS

Buying life insurance as someone with MS may not be as straightforward as a standard applicant.

Your application is likely to be accepted if you’re responding well to treatment, have mild symptoms and are leading a healthy lifestyle.

It’s likely you’ll need to provide additional information about your condition during the application process so insurers can get a better understanding of your health.

You may need to answer questions regarding:

  • The type of MS you have (relapsing-remitting, secondary progressive or primary progressive)
  • When you were diagnosed
  • When you last relapsed
  • Your current symptoms (if any)
  • The severity of your symptoms (e.g. If you need to use walking aids)
  • Any medication you’re taking
  • Any treatment you’ve received

For those with primary progressive MS or advanced MS, it will be more difficult to secure some types of life insurance (or premiums will be very expensive).

Comparing quotes can allow you to find suitable cover for your personal circumstances, why not let Reassured help you do this (free of charge)?

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Types of life insurance for people with MS

When arranging life insurance as someone with MS, you still have a variety of options to choose from.

Depending on the personal circumstances of your condition, some may be better suited than others.

Your options include:

MS level term life insurance

Level term life insurance

Provides cover for a set period (the term) and will pay out if you pass away during this time.

The cover amount (sum assured) will remain level throughout the policy term.

  • Protection for a specified period (up to 40 years)
  • Fixed lump sum pay out
  • Ideal for young families to help cover large expenses and/or family living costs
  • Terminal illness cover included at no extra cost
MS decreasing term life insurance

Decreasing term life insurance

Provides cover for a set term and will pay out if you pass away during this time

The cover amount will reduce over the policy term.

  • Protection for a specified period (up to 40 years)
  • Lump sum pay out decreases overtime
  • Ideal to help protect a repayment mortgage (sum assured can reduce at the same rate)
MS whole of life insurance

Whole of life insurance

Provides life-time cover, guaranteeing a pay out to loved ones when you pass away.

  • Guaranteed pay out
  • Ideal for providing loved ones with an inheritance and/or helping to cover funeral costs
  • Medical information is required, meaning MS could inflate your premium
  • Premiums will need to be paid for the rest of your life
Ms over 50 life insurance

Over 50 life insurance

Provides life-time cover and guarantees acceptance to UK residents aged 50 - 85.

  • Guaranteed pay out
  • Ideal for helping to cover funeral costs and/or leaving a small inheritance for loved ones
  • No medical information is required and MS will have no impact on your policy
  • Lower maximum sum assured than other forms of cover (often capped at £20,000)

To learn more about what life insurance options are available for those with MS, contact Reassured.

Simply get in touch with one of our friendly team members to be presented with our best available quotes.

How much is MS life insurance?

The cost of MS life insurance will depend on your individual circumstances and the details of the policy you choose.

It’s likely that, as someone with MS, you’ll be charged a higher premium (known as a loaded premium).

The level of loading will depend on the type and severity of your MS and it will also depend on the insurer.

During the application process you’ll need to provide standard information, as well as additional information about your condition.

The standard information you’ll need to provide includes:

  • Age
  • Health
  • Smoking status
  • BMI
  • Occupation
  • Lifestyle
  • Type of policy
  • Policy term
  • Sum assured

Every insurer has a different way of assessing risk and the thresholds for loaded premiums will vary.

If your application is referred to a specialist insurer, premiums start from £15 a month » .

Alternatively, if you’re within the age bracket, you could opt for an over 50s plan. With this option you won’t need to provide any medical information and premiums start from just £5 a month + .

Compare quotes to find the right option to meet your needs at an affordable price.

Simply get in touch today to find our best deals.

Compare MS Life Insurance Quotes »

Best life insurance providers for MS patients

The best life insurance provider for you will depend on your individual circumstances and how much cover you need.

For example, if your condition severely impacts your daily life and you’ve struggled to secure standard cover in the past, a specialist insurer could be a suitable option.

A specialist insurer can offer a higher level of cover and a more affordable premium for those with pre-existing medical conditions than traditional insurers.

Alternatively, if you only require a small amount of cover and you’re aged between 50 - 85, then you may consider securing cover through an over 50 life insurance provider.

With an over 50s plan, no medical information is taken into consideration, meaning MS won’t impact the price you pay.

Lastly, if you have mild symptoms, you may wish to compare multiple mainstream insurers to find an affordable deal.

At Reassured, we can help you with all the options listed above.

We’re an FCA-regulated life insurance broker and we work with a panel of insurers, allowing us to find cover no matter your circumstances.

Other frequently asked questions about life insurance with MS UK

Will I need to undergo a medical exam for life insurance?

It’s unlikely for insurers to request that you undergo a medical exam when taking out life cover.

However, in some cases an insurer may require more information regarding your MS before offering you cover.

They may request to see your medical records (with your permission) or they may request a full medical exam (at a cost to the insurer).

What happens if I don’t disclose MS?

It’s essential that you’re honest about your personal circumstances.

Withholding information or giving false details (non-disclosure) could invalidate your policy and prevent a pay out being made to your loved ones when the time comes.

In the rare instances that life insurance doesn’t pay out (97.5% of all protection claims were paid out in 2022[6]) non-disclosure is the main reason that claim is rejected.

Therefore, telling your insurer that you have MS will ensure that your selfless investment isn’t compromised.

Can I still get cover if I have been declined before?

Yes, even if you’ve been declined in the past, it can still be possible to secure life insurance.

If you have been declined for life insurance it could be that your diagnosis was too recent or you were too high risk for a mainstream insurer.

If a greater period of time has passed since your diagnosis and your condition has stabilised, it may be worth applying again as you’ll be able to provide insurers with more accurate information about your condition.

Alternatively, if you have been declined by mainstream insurers, why not try securing cover with a specialist insurer?

What if I’m diagnosed with MS during the policy term?

If you’re diagnosed with MS during the policy term, you’re not obligated to inform your insurer.

However, it’s useful to keep them update to minimise any delays when it comes to your loved ones making a claim.

If insurers aren’t aware of your new diagnosis, they may need to investigate to ensure the condition wasn’t present when you took your policy out.

Your new diagnosis won’t impact your existing cover so ensuring your provider is up to date can help to provide you with peace of mind.

Can you get critical illness cover with MS?

Yes, it’s possible to obtain critical illness cover (CIC) with some insurers.

Critical illness cover provides you with a tax-free lump sum if you’re diagnosed with a serious illness (that’s listed within the policy).

It can be added to life insurance for an additional fee to allow you to make an early claim on your policy.

The funds you receive could help to replace lost income, pay for private medical bills and/or pay for carers.

As someone with MS, it’s likely that MS will be excluded from your cover. This means you won’t be able to claim for this reason.

Compare life insurance for MS applicants

When arranging life insurance with MS, it’s important to compare a range of quotes to ensure you’re getting a great deal.

There are multiple options available to those with MS so why not let Reassured help you find the right policy to meet your needs at our best price.

We’re an FCA-regulated life insurance broker, providing you with all the information you need to make the process as hassle-free as possible.

We also work with a panel of insurers, including top UK providers and smaller specialists.

Why not make the most of our award-winning service today and secure financial protection for your family?

Compare MS Life Insurance »

Sources:

[1] https://www.finder.com/uk/life-insurance-statistics

[2] https://www.daynurseries.co.uk/advice/childcare-costs-how-much-do-you-pay-in-the-uk

[3] https://www.sunlife.co.uk/siteassets/documents/cost-of-dying/sunlife-cost-of-dying-report-2023.pdf/

[4] https://www.mssociety.org.uk/what-we-do/our-work/our-evidence/ms-in-the-uk

[5] https://www.nhs.uk/conditions/multiple-sclerosis/causes/

[6] https://www.abi.org.uk/news/news-articles/2023/5/protection-insurers-pay-out-6.85-billion-to-support-individuals-and-families/

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