Can I get life insurance if I have MS?

The good news is yes, it’s possible to obtain life insurance for people with multiple sclerosis.

Your life insurance policy options include:

  • Term life insurance, (level or decreasing term)
  • Over 50s plan, (no medical questions)
  • Funeral plan (pay for your funeral in advance, avoiding rising costs)

For MS sufferers, the cost of life insurance will depend on the individual circumstances of your condition, as well as the type and level of cover required.

Comparing quotes from multiple insurers can help you find the most suitable MS life insurance, at the best price.

At Reassured, we can do exactly this on your behalf; our award-winning, FCA regulated quote service is free of charge.

We also have a dedicated impaired team to help non-standard applicants who may have been declined cover in the past...

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Life insurance for MS sufferers UK

Generally, an insurer will assess MS life insurance applications on a case by case basis.

As the illness manifests itself differently with each MS patient, no two cases are the same.

Recent diagnosis

If your diagnosis is recent, the type or stage of your MS may still be in doubt.

And during the early stages of this unpredictable disease, the course it may take is unknown.

At this point, it’s difficult for the insurer to assess the level of risk you pose.

A standard insurer may choose not to underwrite your application and you may require a specialist insurer.

Reassured work with specialist insurer The Exeter, who can still offer impaired risk customers a significant sum assured with premiums starting from just £15 a month.

Previous diagnosis

If you’ve suffered from MS for some time and have a clearer picture of your condition, your circumstances are much easier to assess.

A longer, well-managed illness is more favourable to the underwriter, (depending on the severity).

If you do have advanced MS, it’s likely you’ll be considered as an impaired risk applicant.

This means that you’re more difficult to insure, due to your health and more likely to make a claim, so the risk to the insurer is high.

Fortunately, at Reassured we have a specialist impaired risk team who have helped find cover for 45% of customers declined elsewhere.

Contact our specialist team today for your free, no-obligation quote.

MS life insurance cost

As with standard applicants, the cost of your premiums will be determined by the level of risk you pose to the insurer.

Key factors include:

  • Your age
  • Health
  • Smoking status

One exception is the over 50s plan, of which the cost of your premiums is determined predominantly by your age and the level of cover secured.

As someone with MS, the cost of your life insurance will also depend on the specific individual circumstances of your condition.

As mentioned, if you’re MS is under control and responding well to treatment, then it’s possible to secure life insurance with standard premiums.

However, if you suffer with advanced MS, you may have to secure cover with a specialist insurer and may experience loaded premiums.

Every insurer has a different underwriting process. As a result, the cost of life insurance between providers for the same cover can vary.

Get in touch with Reassured so we can compare quotes from a panel of insurers to help you find the best possible deal.

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Life insurance for MS patients, (what questions will I be asked?)

You may expect a slightly longer application process for MS life insurance.

This is because the underwriter will require detailed information on your condition to consider your application.

They may also request to see your medical records, speak with your doctor or require you to undergo a medical before providing a quote.

During the application, they’ll ask a number of questions that you should answer fully and honestly; failure to do this could result in your policy being invalid.

Your responses will determine the level of risk you pose to the insurer (and the cost of your premiums).

Keeping a diary of your symptoms, hospital visits, medications and/or treatments can be really beneficial if you’re looking to apply for life insurance.

How much life insurance do you need?

Enter your financial commitments to understand the level of cover you require.

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£121,687 is the estimated average outstanding mortgage per household in the UK.

Our property is generally the largest financial commitment any of us will make.

Your life insurance should cover this significant debt should you no longer be around.
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According to Money Advice Service, full-time childcare in the UK now costs £242 a week.

The loss of a parent could result in the need for additional childcare whilst the surviving parent increases their hours to account for lost income.

Your life insurance cover should factor in this additional required outgoing.
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The average level of debt (minus a mortgage) in the UK is £15,385.

Factoring in any outstanding debts in your name when arranging life insurance ensures this burden is not passed to loved ones.
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You may wish to leave your loved ones an inheritance or lump sum gift upon your passing.

Factoring in the gift amount when arranging your cover will ensure the pay out amount will be sufficient to provide your loved ones with this selfless gesture.
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According to SunLife, the average cost of a UK funeral is now £4,417, whilst the total cost of dying is £9,493.

This is a 130% increase over the past 16 years and shows no signs of slowing down.

A significant cost which should be factored into the amount of life insurance you secure.
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If you are one of the 65% of the UK who are lucky enough to have savings, this could be used as protection if you were to pass away.

Any pay outs from existing life insurance policies and investments can also be used as financial protection for your loved ones if you were no longer around.

Factor this into your required cover amount.
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Your total cover estimate

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Let us find your best quote.

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Term life insurance

Term-based life insurance provides cover for a set period of time, (the term).

If you were to pass away during this period, a pay out will be issued to loved ones.

Term length can be anything from 2 to 40 years, depending what it is you’re looking to protect.

The length of cover you can secure will be affected by your age and the type/stage of MS.

Those in the later stages of MS or of an older age are unlikely to obtain a significant period of cover.

This is due to the potential shortened life span of someone with MS and the increased risk of a claim being made.

This will also be mirrored in the amount of cover you can secure, meaning higher sums assured could be costly.

To determine the best policy to secure the cover amount and period you require, contact Reassured.

Whole of life insurance

A whole of life insurance policy provides guaranteed life-time cover.

So, loved ones would receive a lump sum pay out when, not if, you pass away.

A whole of life policy is suited to those in the later stages of life, who’re in overall good health.

This means, it’s unlikely an MS sufferer will be able to obtain this type of cover, or the premiums would just be unaffordable.

Even if you were to take out the policy as someone with MS at a young age, and you live a long life, it’s possible that you’d pay more into the policy than is ever paid out.

To learn more about this option, simply get in touch and one of our friendly team members will be happy to help.

Over 50s life insurance

Over 50s life insurance, or an over 50s plan, guarantees acceptance to all UK residents aged 50-85.

This policy type guarantees a lump sum pay out to loved ones when you pass away.

Medical information is not required to secure a guaranteed over 50s plan.

As a result, this cover is ideal for anyone within this age range who has experienced poor health, including those with MS.

Better still, this option avoids any complicated medical questions and long application forms.

Your age and the level of cover secured will determine the cost of your premiums, rather than any pre-existing health conditions.

Over 50s plan premiums may work out more expensive than other policies, due to the unknown risk you pose to the insurer.

The sum assured tends to be lower too, usually up to £25,000, depending on the insurer.

Premiums for an over 50s plan could stop once you turn 90, but your cover would remain in place until you pass away.

Whilst acceptance is guaranteed with an over 50s plan, insurers mitigate their risk by implementing a waiting period (or qualifying period) for either 12 or 24 months from the start of the policy.

This means if you were to pass away of natural causes you’ll not be covered and a pay out not issued, (but premiums paid will be refunded).

Compare multiple over 50s plans today with Reassured to secure the best deal.

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The best life insurance providers for MS sufferers

MS life insurance providers that claim to be the best, may not be the best for all those suffering the condition.

The individual circumstances of each applicant will be different, including yours.

And that includes why you need life protection and how much cover you need.

Compare multiple policies from different insurers to find the best life insurance providers for MS.

Particularly as the cost of the same cover varies between providers.

At Reassured, we can compare quotes from multiple insurers on your behalf - saving you time and money.

Smoking with MS

As we know, smoking is detrimental for our health, but for people with MS, it’s particularly damaging.

According to the MS Trust, smoking has been linked to MS in a number of ways.

Smoking is an environmental risk factor that is known to trigger the first stage of MS, as well as worsen the symptoms and the course of the disease.

The risk of developing MS, or causing more damage, can be dramatically reduced by giving up smoking.

A smoker without MS can pay a premium loading of up to 75% more than a non-smoker.

Therefore, quitting smoking can significantly reduce the cost of your life insurance premiums.

Although, you’ll still be classed as a smoker for up to one year after quitting.

Lastly, insurers view vaping and other nicotine replacement products as a form of smoking.

Is MS a pre-existing condition?

Yes, MS is a pre-existing health condition in the view of an insurer.

A pre-existing condition is one that’s existed or still exists at the point of applying for life insurance.

In this case, MS is an ongoing existing condition, with varying levels of severity.

Having a pre-existing condition means your policy may have to undergo manual underwriting.

With a successful application, you’ll be accepted on standard terms, but you may experience inflated premiums.

Other pre-existing conditions include:

If you’ve experienced any of these health problems, in addition to MS, then it’s important to disclose this to the insurer during the application.

What happens if I lie to obtain MS life insurance?

To be dishonest in your application for life insurance is known as non-disclosure.

It can be tempting to lie on your application to achieve a more favourable premium.

However, this can result in your policy being invalid, a claim being declined and your selfless investment wasted.

Even if you were to pass away of an unrelated illness, and the insurer discovers the non-disclosure, they could still deny a pay out.

At Reassured, we can guide you through the entire application process, so you’ll have peace of mind all the information is filled in 100% correctly.

And once you’ve taken out life insurance, you won’t need to update your provider of any changes to your illness.

Even if your condition worsens once your policy is in place, cover will remain valid and terms of cover won't be affected.

This is why it’s sensible to take out life insurance as early as possible.

Does life insurance pay out for MS?

A successful claim on an MS life insurance policy will be followed by a pay out.

A claim will be valid if:

  • All information of the applicant has been fully disclosed
  • All premium payments are up to date
  • The cover hasn’t expired

Full disclosure of your condition will ensure that MS and any related health problems are not excluded from the cover.

Contrary to popular belief, 99.6% of all UK life insurance claims are paid out.
Compare Life Insurance Quotes for MS Sufferers »

Funeral plan instead of life insurance for MS

Providing financial security for your loved ones’ future may not need to take the form of life insurance.

A funeral plan can also provide some financial support to loved ones during a difficult time.

You’re guaranteed acceptance with a funeral plan, regardless of your health or age.

A funeral plan allows you to pay in advance for your own funeral, locking in today's rate.

You’ll also have the option to make all the funeral arrangements, relieving your loved ones from this responsibility.

A plan costs between £1,800 to £5,000, depending on the provider.

At Reassured, we can offer best price guarantee* with funeral plans arranged through us.

A funeral plan can be paid upfront, or in 12 monthly payments (interest-free) or by monthly instalments from 2 – 25 years (plus interest).

The instalment plan terms and availability may vary depending on each applicant’s personal circumstances.

The cost of a basic funeral has risen by an alarming 130% in the last 16 years and is expected to continue rising.

A funeral plan locks in the price of a funeral today, so that when the time comes, whether it be in 3 or 30 years’ time, your funeral is still covered.

The funeral plans we offer at Reassured cover all third-party funeral costs.

These can make up to 50% of the total average funeral cost and include:

  • Doctor fees
  • Minister fees
  • Burial or cremation fees

Most other providers only offer a contribution or don’t cover these additional costs.

Get in touch with our friendly team today to compare FPA approved funeral plans.

Multiple sclerosis charity UK

For more information on MS life insurance, head to one of the two main multiple sclerosis UK charity sites:

Can I get critical illness cover with MS?

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

Critical illness cover provides a tax-free lump sum if you’re diagnosed with a serious, yet non-life-threatening illness.

The pay out can be used to pay for private medical treatment, adaptations to your home and/or to cover a lost income.

As someone with MS, it’s likely the CIC provider will exclude this condition from the cover.

This could include other conditions that could develop (or have developed) as a result of your MS.

So, you’ll be covered for any new illnesses after taking out CIC.

Critical illness cover arranged through Reassured can be taken out as a standalone policy or alongside your life policy.

Contact our team to discuss if critical illness cover is the right product for you.

Terminal illness cover

At Reassured, all term life and whole of life policies come with terminal illness cover as standard.

This means, if you were diagnosed with a terminal illness and given less than 12 months to live, you could make an early claim on your policy.

The pay out could be used to pay for a carer, make adaptations to your home, or enjoy with your family.

Joint life insurance

Joint life insurance, also known as couple’s insurance, covers two lives simultaneously.

For most, this can be a more cost-effective option and can make a policy up to 25% cheaper.

However, if one or both of you suffer with MS, this can significantly increase the cost of joint cover.

Which, for a healthy partner, is unnecessary.

Therefore, it may be more cost-effective to take out two separate life policies.

A joint policy will also only pay out on the first death and the remaining partner will need to find new cover.

Writing life insurance in trust

Any life insurance policy arranged through Reassured can be written in trust, free of charge.

This means placing someone you trust, a trustee, to be in charge of your policy upon your death.

They’ll be responsible for managing the pay out and ensuring it’s distributed as per your wishes.

A policy written in trust avoids (or minimises) the 40% inheritance tax, and avoids the probate process (which can take between 6 to 9 months).

A huge benefit to your loved ones who’ll receive a larger proportion of the pay out sum and without a long wait.

Multiple sclerosis statistics UK

The MS facts:

  • Over 110,000 people in the UK have MS
  • MS is more common in women (70%) than men
  • There is currently no cure and the cause of the disease is unknown
  • MS is a life-long condition but is not a terminal illness
  • MS is not inherited, but family members do have a higher risk of developing MS

People with MS are likely to live on average between 5 to 10 years less than someone without MS.

Long-term studies have shown that the life span of someone with MS is more likely to be shortened by related health complications.

These health complications that derive from MS, such as difficulty swallowing or aspiratory problems, can be fatal.

This makes taking out life insurance to protect loved ones even more important.

You may ask yourself, if the worse were to happen to you, would your loved ones afford to:

  • Pay the mortgage or rent?
  • Cover daily living costs?
  • Pay for your funeral?
  • Clear outstanding debt?

Life insurance can clear the mortgage, settle any debt in your name, pay for your funeral and/or provide an inheritance to loved ones.

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

Getting life insurance with MS

Arranging life insurance as a multiple sclerosis sufferer may be more difficult depending on the severity of your condition.

But it is possible, even if you’ve been declined cover in the past.

At Reassured, our specialist impaired risk team have helped secure life insurance for more than 45% of applicants declined elsewhere.

Due to their knowledge of the different underwriting processes and the criteria insurers employ, they’re able to identify the right insurer for you.

Our consultants are very aware of the sensitive nature of arranging protection and handle every enquiry with a high level of professionalism.

Don’t hesitate to contact Reassured today to discuss your MS life insurance options.

Compare MS life insurance quotes, (save time & money)

As mentioned, the cost of MS life insurance will vary between insurers.

This it’s why it’s really important to compare quotes from as many insurers as possible.

Reassured are an FCA registered business, providing you with all the information you need to make a fully informed decision.

Get in touch with Reassured today for your free quote and take the first step on your life insurance journey.

Compare MS Life Insurance Quotes »

Sources:

https://www.mssociety.org.uk/about-ms/what-is-ms

https://www.mstrust.org.uk/about-ms/what-ms/ms-facts

https://www.mstrust.org.uk/life-ms/your-finances/insurance#telling-insurers-about-ms

https://www.nationalmssociety.org/What-is-MS/Types-of-MS

https://www.nhs.uk/conditions/multiple-sclerosis/

https://library.med.utah.edu/kw/ms/prognosis.html

SunLife (2020), Cost of Dying Report, sunlife.co.uk/costofdying2020

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