I have a client with Multiple Sclerosis that we first got life insurance for a few years ago and I encouraged her to let me shop it again this year. I felt like, given her continued great control and mild nature of the MS that we could do better than the original mid rated policy. As a key person in a manufacturing company, getting the business life insurance at a better rate was good for her and the company. Reviewing this with a few underwriters over the phone it seemed like her first approval might have been a little brutal even though prior to that she had been declined several times.
Let me lay out the nature of her MS so as not to give the impression that all MS cases are equal. In her mid forties, she was diagnosed 20+ years ago with a relapsing-remitting type of MS. She has rarely had any episodes and her only real symptom is weakness in one leg causing her to have a limp. She works full time and hasn’t had to use any walking aids. She has no other health issues and the only medication she is on is a Tysabri infusion once a month. Tysabri is not a light weight medicine and one company actually refused to offer when I shopped it based on the medicine alone. A bit of an overreaction when all of the other companies offered at some rate, but hey, it’s their company and they can do what they want.
Ultimately the shopping paid off. While most companies were in the table 2 to 4 range, United of Omaha used their lifestyle and health credits to get her life insurance down to a standard rate which will cut her key person life insurance cost by nearly half. There didn’t seem to be any cut and dried direction that each of the companies agreed on with this case, but the end product was worth the shopping trip.
Bottom line. I have to admit that I don’t have a lot of clients with MS, but when presented with well controlled cases we have been consistently able to get reasonable offers. And as with this client we have been able to turn life insurance declines into approvals and ultimately improve on the approval. If you have any questions or have been declined for life insurance due to mild MS, call or email me directly. My name is Ed Hinerman. Let’s talk.