How to find the most affordable life insurance with Relapsing-Remitting Multiple Sclerosis
Finding affordable life insurance with relapsing-remitting multiple sclerosis can sometimes seem difficult.
It is important to remember when researching for the lowest life insurance rates, you must work with an agent who is an expert in special risk life insurance placement.
In fact, many if not most life insurance companies simply don’t underwrite relapsing-remitting multiple sclerosis aggressively. But, with a little digging and the right agent, you can find a handful of life insurance companies that do a better job evaluating the risks of multiple sclerosis.
It is estimated that people are initially diagnosed with relapsing-remitting MS about 85% of the time.
By definition, relapsing-remitting multiple sclerosis is defined as inflammatory attacks on the insulating membranes surrounding the nerve fibers in the central nervous system. During these attacks, immune cells cause small, localized areas of damage which produce the symptoms of MS. Typically, no two people will have exactly the same symptoms.
Life insurance companies evaluating protection for individuals with relapsing-remitting multiple sclerosis look for symptoms, as well as treatments to determine the rating for a policy. Some of these symptoms can include:
- Visual disturbances
- Numbness and tingling
- Fatigue
- Focal weakness
- Speech impairment
- Bowel and bladder dysfunction
- Respiratory compromise
In addition to the symptoms, the life insurance carrier will look at treatments such as steroids or other drugs. They will look also to see if the individual is currently working or capable of working.
Carriers will be interested in how the individual’s doctor characterizes the relapsing-remitting MS. Is it characterized as active or not active? Is the conditioning worsening or not worsening? All of these factors play a role in how each individual life insurance company will evaluate protection.
Your agent can make all the difference in your rates
As mentioned earlier, the absolute best way to find the lowest offer for life insurance with relapsing-remitting multiple sclerosis is to work with an agent who specializes in this particular specialty of risk underwriting.
Your agent should represent multiple carriers. This gives your agent the ability to have the different carriers bid for your business. The agent should have years of experience. He should know how to negotiate for the best offer with the companies(most agents don’t). They should know how to present a case without sending your thru the medical information bureau(important).
You see if the agent presents your case in the wrong way to the underwriter you could not get the best offer. If your agent submits your case the wrong way you could not receive an offer that you otherwise may have received.
Here’s the difference in using an experienced agent with knowledge of the special risk market and the inexperienced agent.
An experienced agent will typically get all your medical information up front. An experienced agent will know the right questions to ask you regarding your medical history. An experienced agent will know how to present your case to the different underwriters in the best light.
An un-experienced agent will typically just schedule you for a medical exam. Often time with multiple carriers. He is hoping that just one of the carriers will stick. An un-experienced agent will have no idea what questions to ask or how to present the case to the underwrite for the best offer.
An un-experienced agent may in fact hurt your chances by having your application declined by several different carriers.
The best way to submit for an offer of coverage
When you submit a formal application for life insurance the underwriting company checks with the medical information bureau (MIB) . This allows them to see if how many other applications have been submitted. This can also tell them if an application has been declined or has a red flag.
If the company sees red flags on your medical information bureau report they may withdraw their offer for coverage. Life insurance companies like other companies are in business to make a profit. Why should they spend the time, resources and money underwriting a customer that has already been declined by multiple other carriers?
The experienced agent will do things differently. He will first gather all the medical information available form the prospect. Sometimes this may even include having the prospect get medical records from his personal physician. (This can be a huge time saver)
Once all this information is gathered, the experienced agent then goes to work. He contacts multiple insurance companies that specialize in life insurance with relapsing-remitting multiple sclerosis.
He speaks directly to the underwriters. He discusses the case and puts it in the most positive light. You see, the life insurance business is a lot about relationships. Relationships with carriers, relationships with underwriters. Believe it or not life insurance underwriters are just normal people like you and me.
Once the experienced agent speaks to all the interested insurance companies and has their best tentative offer he can go back to his prospect. He presents the best offer to the prospect. If the prospect feels the offer is affordable, then the process of a formal application and medical requirements can now begin.
You see, this saves the prospect from having to fill out multiple life insurance applications and complete boatloads of medical tests before even knowing if a life carrier is interested in making an offer. It also keeps your records out of the (MIB) file until you formally apply.
This is the absolute best way to find the most affordable life insurance with relapsing-remitting multiple sclerosis or any other medical impairment that a prospect may have.
Conclusion-
If you need the most affordable life insurance rate in the marketplace then contact us at 1-888-393-9003 or e-mail me personally at mike@specialriskterm.com
Thank you for reading this blog.
