MS 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.

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.

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.

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.

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.

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.

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.