Getting Final Expense Insurance with Multiple Sclerosis
Overview
Having a pre-existing condition is always stressful when it comes to life insurance. Life insurance policies do not accept applicants with pre-existing conditions. However, you can get final expense insurance even if you have health issues like multiple sclerosis.
Finding the best life insurance plan for multiple sclerosis can be frustrating. If you have multiple sclerosis and want final expense insurance, then this guide is for you. Let’s dive into the details of final expense insurance with multiple sclerosis.
What is Multiple Sclerosis?
Multiple sclerosis (MS) is a medical condition that damages the healthy cells. It is a chronic neurological disorder characterized by an autoimmune response.
Typically, the immune system protects us from dangerous microorganisms. However, in multiple sclerosis, the immune system mistakenly attacks healthy cells.
Individuals are affected differently by MS. Some experience worse symptoms while others have mild symptoms. Most have short, resolving periods, and a normal life expectancy.
MS and the immune system
Myelin is present in the central nervous system. It is a protective layer in the central nervous system. This layer gives the brain’s white matter its whitish appearance. When you have MS, this myelin is attacked by the immune system.
MS damages the myelin sheath, nerve cell bodies, and axons. Damaging of these healthy cells leads to cortical atrophy in the cerebral cortex. It forms scar-like tissue patches known as plaques. The symptoms of multiple sclerosis depend on the size of the plaques and their location.
Symptoms of MS
Young adults aged 20 to 40 suffer from multiple sclerosis. The symptoms of MS are:
- Blurred vision
- Trouble walking
- Loss of vision
- Fatigue
- Difficulty in maintaining a balance
- Numbness
- Constant dizziness
- Red-green color distortion
- Muscle weakness
It is crucial to treat the symptoms of MS. With the help of the treatments and medications you can manage the symptoms of MS.
Diagnosis of MS
You qualify for funeral insurance if your MS occurred 2 years ago. This plan has no waiting period. Pay the premium and the coverage starts from the first day.
With death benefits, your loved ones cover the bills of diagnosis. You do not have to worry about the diagnosis payment. Get your diagnosis stress-free. Your funeral insurance will cover the hospital bills.
What Is Final Expense Insurance?
Life insurance has many forms and final expense insurance is one of its forms. It is one of the best life insurance for seniors as it offers coverage until you die. The main goal of the final expense insurance is to cover your final costs.
A cash payment is given to the beneficiary. The purpose of this money is to cover your burial and funeral expenses. Your chosen beneficiary can use this money for other purposes too. For instance, the beneficiary can cover your hospital bills or debts. In addition, if you have a mortgage, this life insurance will cover it.
Features of final expense insurance
The key features of final expense insurance are:
- No medical exams
- Provides guaranteed coverage
- The premiums do not increase
- No waiting period
- Affordable plan
- Easy to qualify
- Gives immediate funds
- Include cash value
- Tax-free death benefits
Insurance for People with MS
Searching a life insurance with MS is a challenging task. Many policies deny such applicants or they raise the cost of the policy. Many sclerosis patients struggle to find the right insurance. But, not anymore. People with MS can buy final expense insurance.
A life insurance with no medical exam is the best option for people with MS. Final expense insurance is one of them. Final expense insurance offers coverage to applicants with MS. It does not include any medical exam and offers coverage regardless of your health.
However, you will have to pay a higher premium. This will make your insurance an expensive plan.
Life insurance with pre-existing conditions
Typically, final expense insurance is affordable. However, for people with pre-existing conditions, the plan gets expensive. People with MS choose a plan that offers guaranteed coverage.
For instance, guaranteed-issued life insurance offers coverage to people with serious medical conditions. And, the cost of this type is higher than other types. It covers patients with serious illnesses including:
- AIDS
- Diabetes
- Cancer
- Cardiovascular disease
- Sclerosis
- Kidney disease
- Asthma
- Dementia
MS and Final Expense Insurance
If you want affordable insurance with MS, it is best to purchase final expense insurance. It will cover all the funeral expenses.
We all know that a funeral is expensive and covering its costs can be frustrating for your family. After you are gone forever, your final day costs stress your loved ones. You can ease their pain and strain with final expense insurance.
Even if you have multiple sclerosis, final expense insurance will cover your final-day expenses. The services it covers include:
- Cremation
- Casket
- Floral arrangements
- Obituaries
- Funeral services
- Music arrangement
- Sitting arrangement
- Gatherings
- Hearse
If you have lost wages, funeral insurance can replace your income. With the insurance benefits, your family can cover the cost of living. For instance, it can cover:
- Mortgage Payment
- Utilities
- Food
- Rent
- Childcare cost
Types of Final Expense Insurance for MS
Final expense insurance offers several plans. Every plan has different features. The main types of funeral insurance are:
- Term life insurance
- Whole life insurance
- Variable life insurance
- Group life insurance
- Universal life insurance
- Pre-paid funeral plan
- Simplified issue
- Guaranteed issue
Best Burial Insurance Plans for People with MS?
It is crucial to know that not every plan offers coverage to people with MS. Only a few plans accept applicants with MS. The best funeral plans for people with MS are:
- Guaranteed issue
- Simplifies issue
Guaranteed issue
As the name shows, the guaranteed issue gives coverage at any cost. The funeral funds plan and benefits of this plan are many.
The guaranteed issue offers first-day coverage. Patients with multiple sclerosis get approval with ease. You receive the approval on the very first day. Also, it has cash value. Seniors over 80 can apply.
Moreover, it does not include medical exams. It accepts insured with pre-existing conditions. The cost of the insurance is high but the rates never increase. Your coverage will never decrease and it is guaranteed.
Simplified issue
If you think a guaranteed issue is expensive, you can get a simplified issue. Simplified is one of the best and most affordable plans for MS patients. In addition, it does not include medical exams.
The Application Process of Burial Insurance With Multiple Sclerosis
The application process for burial insurance with multiple sclerosis is easy. There is no complex process. Go to the insurer’s website and fill out the application form. Although you do not need to take a medical exam, you may have to answer some questions.
Without submitting any blood or urine samples, you can get life insurance. If you are confused and do not know where and how to start, get help from an agent. A professional agent will help you with all the procedures.
It is best to get a quote first. There are online tools that help you get a quote. Use a tool and get a plan that meets your needs. You must know that insurers crosscheck your medical history to ensure that you are an MS patient.
The insurance company checks your medication history. If it validates that you are taking medications, you are qualified for the plan. Usually, companies look for the following medications.
- Tysabri
- Rebif
- Gilenya
- Extavia
- Limtrada
- Copaxone
- Extavia
- Avonex
- Betaseron
- Novantrone
The Cost of Burial Insurance for Patients with MS
The cost of burial insurance is high for MS patients. The cost depends on the form of the insurance you are choosing. For example, if you have a simplified issue, the cost is low. But, if you have a guaranteed issue plan, the cost is high.
Additionally, the type of multiple sclerosis affects the cost of the plan. The year you are diagnosed also decides the cost.
The insurance company also matters. Each company has a different premium amount. You must compare costs before selecting an insurer. Some best insurance companies for MS patients are:
- Manulife
- EmpireLife
- Mutual of Omaha
- Transamerica
- Pacific Life
- Corebridge Financial
Remember, your age and gender also affect the cost of the burial insurance. The cost is high for senior adults. Besides, the cost is lower for females than males.
Bottom Line
MS is a chronic disease that affects your central nervous system and attacks healthy cells. Getting life insurance for a medical condition is challenging. But not anymore. If you are an MS patient and struggling to find the right insurance, we are here to guide you.
Final expense insurance covers people with MS. The funds of this insurance help your loved ones cover your final costs. The insurance benefits cover your medical bills and debts too. So, get final expense insurance and provide financial security to your loved ones.
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We Are Here To Help With Your queries !
Yes, your medical condition affects the cost of the insurance. Burial insurance offers coverage to people with medical condition, but at a higher price.
No, you do not need to take a medical exam. It gives coverage without a medical exam.
Yes, burial insurance covers MS patient’s final expenses, medical bills and other expenses.