Can I buy life insurance if I have multiple sclerosis?
Yes, many people who have multiple sclerosis can buy life insurance, though the policies available depend on the progression of the disease, current age, age at diagnosis, and other factors. Because MS is such a variable disease with wide-ranging symptoms and treatments, there is a large spectrum of possible life insurance rates.
For people with MS applying for life insurance, it is important to shop the market to find the best insurance company — and the best rates — for you. A Policygenius agent experienced with finding coverage for people with MS can help you find the right policy for you.
Best life insurance companies for multiple sclerosis
Each life insurance company evaluates risk differently, and some companies are more likely to cover people diagnosed with MS than others. The best life insurance company for you will be the one that offers you the best rates.
We chose the companies that, in our experience, generally offer the best rates for life insurance coverage to people with MS. However, your unique health history may mean that your best company isn’t listed here. A Policygenius agent can help you choose the best life insurance company for you.
Best overall: Prudential
Cheapest: Transamerica
Best for relapsing-remitting MS: Lincoln Financial
Best for primary-progressive MS: Prudential
Methodology: How we chose the best life insurance companies for people with multiple sclerosis
We don't get paid for our company reviews and use an extensive rubric of criteria covering policy details, price, financial confidence, third-party ratings, and customer experience to assign unbiased ratings out of five stars. Any recommendations we make are based on internal and external expert opinions and data from our Policygenius Price Index, which uses real-time rate data from leading life insurance companies to determine pricing trends. Our ratings and reviews can help point you to an insurer you can rely on for your family’s financial protection, but the best life insurance company for you is dependent on multiple factors. A licensed agent at Policygenius can work with you through the application process so you’re getting coverage from the best insurer for your circumstances at the most competitive price.
Best overall for people with multiple sclerosis
2023 Policygenius award winner
Prudential
4.1
All 50 states
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
No-med option can end up requiring a medical exam most of the time
Prudential is the overall best life insurance company for people with MS, based on our work with over a dozen of the country’s top insurers. While Prudential’s rates can be higher than some competitors, it offers policies to people with certain health histories — including MS — that other insurers decline. Prudential has high financial ratings, including an AM Best Rating of A+, making them a solid choice for any life insurance applicant.
Cheapest for people with multiple sclerosis
Transamerica
4.6
No-medical-exam option
Why we chose it
Transamerica is one of the oldest and largest life insurance companies, with over 12 million active accounts today. It offers affordable rates for almost every age, and you can even skip the medical exam if you fall under a certain age or coverage amount.
Pros and cons
Pros
Competitive rates for term life insurance
No-medical-exam available for qualifying applicants, including smokers and people between 60 and 70, which is rare
One of the fastest turnaround times in the industry for traditionally underwritten term policies
Cons
Term life not available in New York
Not a good option for people with a history of cancer, alcohol abuse, or asthma
Transamerica is the cheapest life insurance company for people with MS, though any diagnosis of MS generally means you'll get a more expensive premium. Transamerica has low premiums for people of all ages. Plus, people who apply with Transamerica typically receive their offers faster than people who apply with other companies.
Best for relapsing-remitting MS (RRMS)
2023 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
For some people with relapsing-remitting MS (RMMS), a type of MS with clearly defined attacks, Lincoln Financial offers lower life insurance risk classifications than many competitors. [1] This means you may qualify for lower rates with Lincoln Financial, which generally has lower premiums across age groups than many other companies.
Best for primary-progressive MS (PPMS)
Prudential
In addition to being our top pick overall for people with MS, Prudential is also our top pick for people with primary-progressive MS (PPMS). The more progressive and disabling your diagnosis of MS is, the harder it is to get coverage for life insurance. We‘ve found that Prudential is the best option for some people with this form of MS to get traditional life insurance.
How much does life insurance cost if you have multiple sclerosis?
Life insurance costs for people with MS can vary widely based on disease progression and other factors. When you buy life insurance, the company assesses your overall risk using your medical history, prognosis, and other diagnoses, assigning you a risk classification that correlates with premium rates. The tables below show average possible rates for a male who was diagnosed less than 10 years ago and has mild to moderate relapsing-remitting MS (RRMS).
20-year term life insurance rates for people with relapsing-remitting MS (RRMS)
Age | $500,000 coverage amount |
|---|---|
25 | $62.50 |
30 | $65.33 |
35 | $75.74 |
40 | $107.01 |
45 | $160.26 |
50 | $244.55 |
55 | $403.63 |
60 | $689.64 |
65 | $1,324.20 |
Methodology: Approximate estimated rates are calculated for a male non-smoker obtaining a $500,000, 20-year term policy. Rates for MS can vary widely based on health history and disease progression. Rates shown were calculated using a Substandard T3 table rating. Quotes are based on a composite of policies from AIG, Banner, Lincoln, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Not all policies are available in all states. Rate illustration valid as of 12/01/2022.
20-year term life insurance rates for people with primary-progressive MS (PPMS)
Age | $500,000 coverage |
|---|---|
25 | $70.90 |
30 | $74.15 |
35 | $86.09 |
40 | $121.95 |
45 | $182.96 |
50 | $279.65 |
55 | $462.14 |
60 | $790.46 |
65 | $1,518.70 |
Methodology: Approximate estimated rates are calculated for a male non-smoker obtaining a $500,000, 20-year term policy. Rates for MS can vary widely based on health history and disease progression. Rates shown were calculated using a Substandard T4 table rating. Quotes are based on a composite of policies from AIG, Banner, Lincoln, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Not all policies are available in all states. Rate illustration valid as of 12/01/2022.
How to buy life insurance if you have MS
Do you need to have a medical exam to get covered?
In order to get traditional life insurance with MS, you will need to take a medical exam — a normal part of nearly all traditional life insurance applications. A medical technician will come to your home and administer a verbal questionnaire during which you’ll go over your medical history again. Then you’ll have a physical exam with a weight check, blood draw, urine sample, and blood pressure draw.
There are two types of final expense policies that do not require a medical exam, but these are more expensive and lower coverage options. (More on these below.)
Can MS show up on a blood test during a life insurance exam?
MS is a disease of the central nervous system and cannot be diagnosed through a blood test, so it will not show up during a life insurance exam blood test.
The life insurance blood test generally measures the following:
Cholesterol
HIV antibody
Hepatitis B antigen
Hepatitis C antibody
Glucose
Organ function
Prostate-specific antigen (PSA) (for men over 50)
What will insurers ask about your multiple sclerosis?
Life insurance companies will want to know all about your MS diagnosis in order to understand your health history and evaluate your risk classification. You’ll need to share all diagnoses, treatments, surgeries, and medications that you’re on, for example. For people with MS, they will specifically want to know:
Age of onset
Initial symptoms
Current symptoms
Frequency of symptoms
Progression of the disease
Current treatment(s) and how you’re responding to treatment
Any medications you’re on
Ability to perform the activities of daily living (ADL)
Why it’s important to disclose your multiple sclerosis diagnosis when applying for life insurance
If you have MS or any other disease, you must disclose it to the life insurance company during your application. If you lie on your life insurance application, you could be denied coverage and could be prevented from applying again, even to a different company.
How will having multiple sclerosis affect your life insurance application?
When you apply for life insurance, insurers look at your full health history in order to assign you a risk classification, set your rates, and offer you a policy. Each life insurance company evaluates risk differently, and an MS diagnosis will affect how they evaluate your application.
You'll have to go through the full underwriting process and take a medical exam in order to get traditional term or whole life insurance. Although some companies offer instant-decision term life insurance, which allows qualified applicants to skip the medical exam and get a term life policy faster, having MS will disqualify you from this type of policy. You’ll have to go through the full underwriting process, which can take up to six weeks or more, and you’ll take a medical exam.
How does underwriting work for term life insurance with multiple sclerosis?
After you complete your application and your medical exam, the insurance company’s underwriters will evaluate your materials. If you have MS, it’s very likely they will request more information directly from your doctor(s), called attending physician statement (APS), which can make the process take longer. Sometimes for people with complicated health histories, you may need to answer a few more questions. Once the underwriters have evaluated your application, they’ll let you know if they will offer you a policy, and what your risk classification and rate will be.
Can underwriters obtain your medical information even with existing HIPAA privacy laws?
Yes, underwriters can legally access your medical information because, in order to apply for insurance, you’ll need to sign a HIPAA life insurance waiver. This waiver allows them to ask your providers for your health and medical history in order to evaluate you for a life insurance policy. They cannot use the information for anything else.
Best life insurance policy types if you have multiple sclerosis
Term life
Term life is one of the most affordable life insurance coverage options on the market, only lasts for a set term, and comes with few rules and tax restrictions. Term life is the best option for most people looking to protect their income and provide their family with a financial safety net to cover any debts — including a mortgage or any other type of personal loans.
→ Learn more about term life insurance
Whole life
Whole life and other types of permanent life insurance are good options for people looking to use life insurance to diversify their investment portfolio or those with long-term financial obligations or coverage needs, like dependents who require lifelong care. Whole life never expires and comes with a cash value that earns interest in addition to the death benefit payout. Because of that, it’s usually five to 15 times more expensive than traditional term policies. If you’re already maximizing your contributions to tax-advantaged accounts like a Roth IRA or a 401(k) and are seeking another investment option, whole life might work for you.
→ Learn more about whole life insurance
Living benefit riders
Living benefit riders on life insurance are add-ons to your policy that ensure some of your life insurance death benefit is accessible while you’re alive if you meet certain criteria. Most companies offer an accelerated death benefit rider for terminal illness, which allows you to access a portion of your death benefit while still alive if diagnosed with a qualifying terminal illness, for free, though each company has its own criteria for when the rider is activated. Most are activated when you’re diagnosed with a terminal illness and expected to have six to 24 months to live, depending on the company. Other living benefits riders, including long-term care riders, may not be available to people with MS.
→ Learn more about life insurance riders
Life insurance options if you’re denied coverage
Some people with MS will not be able to purchase traditional life insurance due to the progression of the disease. They still may have options for life insurance coverage, however.
Final expense insurance
Final expense insurance, also known as burial insurance, is a type of life insurance intended to cover your end-of-life expenses like a funeral or outstanding medical debts. Coverage limits are low, usually maxing out at $25,000. Final expense policies are easier to qualify for than traditional policies if you have MS. There are two types.
Simplified issue life insurance: A type of whole life insurance that doesn’t require a medical exam and instead relies on a medical questionnaire. Simplified issue is more expensive than traditional life. Not everyone with MS will qualify, but some people may be able to get coverage.
Guaranteed issue life insurance: A type of whole life insurance that offers almost-certain approval, as it doesn’t ask medical questions. Premiums are higher than traditional life insurance or simplified issue life insurance. Only people over 45 or 50, depending on the company, can apply for guaranteed issue life insurance.
Group life insurance
People with MS who do not qualify for traditional term or whole life insurance may still be able to get covered through group life insurance, which is a policy that covers you through work or a trade organization. These policies generally do not have medical requirements, though coverage is usually maxed out at one or two times your salary.
Other health concerns that can affect your life insurance
Certain pre-existing conditions and other health-related concerns can affect your life insurance options or costs. A Policygenius expert can help you find the right policy for your needs.
Mental health issues such as depression or anxiety
Frequently asked questions
Does life insurance pay out for MS?
Yes, if a person dies from complications from MS and they have a life insurance policy, that policy will pay the death benefit to their beneficiary.
Is it possible to get term life insurance with multiple sclerosis?
Yes, a person with MS can get term life insurance, depending on their age of onset, disease progression, current symptoms, and more.
Can I get long-term care insurance if I have MS?
No, people with MS cannot generally qualify for long-term care insurance or for a long-term care rider, which is an add-on to a traditional life insurance policy.
Is MS covered under life insurance?
If a person dies from complications from MS, their life insurance policy will pay their beneficiaries the death benefit.
Is multiple sclerosis considered a critical illness?
Yes, many insurance companies consider MS a critical illness for the purpose of critical illness insurance, which is an optional add-on to a life insurance policy that will pay out in the event of a diagnosis of a critical illness named in the policy. But you would need to have the insurance in place pre-diagnosis in order to file a claim.
