Qualifying for Life Insurance

[az]

Requesting feedback regarding life insurance coverage.

I recently had to go on permanent disability and chose to port (i.e., keep) the group life insurance coverage I had through my ex-employer. I was able to do this without having to disclose any medical information. I decided to do this because I've heard it's almost impossible to qualify for life insurance having MS (specifically PPMS).

My problem is the rates increased drastically being that I am no longer employed. What's more, the rates will almost double when I turn 50, which is not too far off. At that point, I will no longer be able to afford the premiums even after reducing my coverage.

I'd like to have feedback from anyone who qualified for private life insurance, especially those of you who have PPMS. What I'm looking for primarily are:

1. Insurance Co. name
2. Approved rate per $1,000 in coverage
3. Difficulty in getting approved
4. How many times denied by other companies before finally getting approved

Much appreciated!

[jamilea]

What is their definition of employment? What if you started making jewelry and sell it on Etsy? Or something along those lines.

Be careful az, some insurers won't even pay out for MS or if they find out someone wasn't honest.

http://www.nationalmssociety.org/Res...Care-Insurance

[pennstater]

I gave up. I dropped my employer coverage. Similar to yours, no medical questions, but premium became too expensive. We just decided to save the premium money

All the "guaranteed acceptance" were exorbitant or had an out specifically for MS or neurological conditions.

I wish you good luck.

[az]

What is their definition of employment? What if you started making jewelry and sell it on Etsy? Or something along those lines.

I cannot show any income or it will be deducted from my monthly LTD payment, so Etsy is not a viable option for me.

Be careful az, some insurers won't even pay out for MS or if they find out someone wasn't honest.

No dishonesty taking place. I plan to disclose my MS on all new applications. Just to clarify, my current policy ported from my ex-employer does not require any medical disclosure.

Thanks for the NMSS link. I will review that when I am better rested.

[az]

I gave up. I dropped my employer coverage. Similar to yours, no medical questions, but premium became too expensive. We just decided to save the premium money

All the "guaranteed acceptance" were exorbitant or had an out specifically for MS or neurological conditions.

I wish you good luck.

I appreciate your reply, Kathy.

[KateA2]

I tried to get additional coverage to my employers policy -- to 8x salary. I was denied despite excellent overall health metrics (aside from MS). They need to rewrite the definition of MS and life expectancy--it is currently lumped in with ALS and Parkinson's.