Burial Insurance With Multiple Sclerosis

Jake Irving

Jake Irving is the Founder of Policy and has contributed to articles for Synchrony Financial, GoBankingRates, Yahoo News, UpCity, Zapier, LegalZoom, and more.

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Multiple sclerosis (MS) is a disease that affects the central nervous system by attacking the protective layering around nerves. This causes communication issues between the brain and the rest of the body.

This neuromuscular disease can present itself differently from person to person. While some victims of this diagnosis lose the ability to walk, others may go into remission with prolonged periods of being symptom-free. Since the immune system is essentially attacking itself, it is considered an autoimmune disease.

All of this is important when looking to qualify for burial insurance.

Can People Get Funeral Insurance With Multiple Sclerosis?

Several final expense life insurance providers accept people with multiple sclerosis (MS).  Some of these plans will have no waiting period, and others will make you wait before being fully covered. It is important to note that complications can also affect qualifying.

Funeral Insurance Basics

This coverage is also known as burial and final expense insurance. It was designed for seniors to cover funeral costs and not leave a financial burden on their loved ones.

Most burial insurance companies offer coverage for people fifty to eighty. However, some companies make their policies available to people in their thirties and forties.

Benefits at a Glance

  • Low-Cost
  • No Expiration
  • Coverage Lock
  • Price Lock
  • Builds Cash Value
  • No Medical Exam
  • No Waiting Period Options

Final Expense is Simplified Issue Whole Life Insurance

Final expense is straightforward and is made up of two specific policy elements.

Simplified Issue: This means that you can do the entire process over the phone and never be asked to get a medical exam.

Whole Life: This refers to the fact that coverage will last for the insured’s entire life. The premiums will never increase, and the coverage amount will never change. Everything is locked in.

doctor showing nurse brain scans

Underwriting Final Expense Insurance With Multiple Sclerosis

Underwriting is the qualifying process. Once you and your insurance agent decide which plan is best, they will assist you in applying. Upon submission, your application will go to the underwriter to confirm the information and then, upon qualifying, place the policy in force.

When finding the right policy to apply for, it is important to understand that each company sets its own standards for approval. For example, some companies will accept people with MS but not Parkinson’s Disease, and vice versa. It is entirely up to the company and its risk tolerance.

Generally speaking, people with more compromised health will have to pay more per month for coverage, while those who have good health will pay less.

How Companies Ask About MS

Regarding MS, there are a few ways the company will ask about this condition on the application.

“Have you ever been treated for or advised to seek treatment for multiple sclerosis?”

This will either deny you coverage or place you into a more restrictive plan. Depending on the company and the plans they offer, this could result in either immediate coverage or a waiting period.

“In the last 2 years, have you been treated for or advised to seek treatment for multiple sclerosis?”

This question could also put you into a more restrictive plan or result in a denial of coverage. The timeline could vary from application to application, and some companies will look back 4-5 years.

No Questions about MS

This is what you and your agent will be looking for if you are currently receiving care for multiple sclerosis. Thankfully there are plenty of options like this.

MS Related Health Concerns that Might Affect Burial Insurance

A multiple sclerosis diagnosis can lead to other medical situations that could additionally affect the ability to get life insurance.

Some associated complications that could affect getting immediate coverage are detailed below.

Wheelchair Use: If you use a wheelchair or scooter to get around, you will not get coverage without a waiting period. There are still affordable options, but complete protection will not be immediately available.

Home Health Care: Applying for burial insurance while receiving home health care limits coverage options drastically. Home health care could involve a medical professional, friends, or family that regularly assist the proposed insured.

Assistance with Activities of Daily Living (ADL): This includes bathing, eating, transferring (mobility), toileting, and dressing. If the proposed insured receives assistance with any of these things, this will be an issue for specific carriers.

Epilepsy: This additional diagnosis could affect the price you pay and the ability to receive immediate coverage.

Depression: This will not significantly affect acceptance; however, the medications you take could. Just make sure to mention to your agent any medication you are on.

woman on tablet sitting on couch

Top Final Expense Insurance Companies For Multiple Sclerosis Patients

Before applying for final expense insurance coverage, there are three things to look for. Apply only with providers with a solid financial standing, low monthly cost, and give full coverage as soon as possible, given your health status.

The companies listed below all have good financial ratings and offer low costs. Work with a specialized agent to determine which is best for you, given your health and age.

Foresters Financial: This top-rated company offers all of its plans to someone with MS. Essentially, it does not matter to Foresters Financial if you have an MS diagnosis; you will receive the same rates as anyone else. Their Preferred plan is best for those with an MS diagnosis as it will provide the lowest price out of all the recommended companies on this list.

Aetna: Those with MS can get immediate coverage through Aetna’s Standard plan. The prices for the Standard policy are slightly higher than Foresters Financial, but it is another good option available to MS patients.

Royal Neighbors of America: This life insurance provider looks back 24 months for MS treatment or diagnosis. Royal Neighbors is on this list due to the leniency with home health care and for people in remission.

Guaranteed Issue: Many carriers provide guaranteed acceptance for MS patients who cannot qualify with the above-listed companies. The monthly cost is the main thing to look for with guaranteed issue plans.

Best Carriers for MS Complications

 Foresters FinancialAetnaRoyal NeighborsGuaranteed Issue
Wheelchair UseXXXAccept
Home Health CareXXAcceptAccept

Quotes for Burial Insurance with Multiple Sclerosis

The quotes displayed below are estimates based on your multiple sclerosis. If you have no additional health concerns, you can expect to pay the lower price. If you are in a wheelchair or have other health complications, expect to spend on the higher end of the range.

Burial Insurance Quotes for MS Patients

$10,000 of Coverage

Monthly Premiums

50$26 – $39$32 – $56 
55$31 – $47$37 – $61 
60$35 – $54$45 – $68 
65$41 – $66$55 – $91 
70$52 – $80$71 – $106 
75$75 – $116$103 – $150 
80$111 – $190$147 – $206 

How to Buy Funeral Insurance with MS

There are two main ways to purchase burial insurance; from captive or independent agents. They both can sell you life insurance, but their access to policies is very different.

Captive Agencies: This agency can sell products from only one company. Since funeral insurance is very health-specific, this limits the client’s options.

Independent Agencies: They can represent multiple carriers. This ultimately allows them to have a more extensive product portfolio, which significantly benefits the client since underwriting standards vary.

Final Thoughts On Burial Insurance With MS

a. Finding affordable and immediate funeral insurance with multiple sclerosis is possible.

b. The key to finding coverage with MS is applying with the right life insurance company.

c. Working with an independent agent specializing in this area of expertise and representing a wide variety of plan options is best. This will save you time and money.