Canada has one of the highest rates of multiple sclerosis diagnosis globally, with approximately 90,000 Canadians being diagnosed as MS patients in 2023. Multiple sclerosis (MS) is a disease that damages the protective covering around nerves in the brain and spinal cord. 

If you have been diagnosed with MS, you may wonder if you can still get life insurance. However, the good news is that you can obtain life insurance with MS. There are numerous insurance options available for people affected by multiple sclerosis, and you can seek the assistance of a life insurance advisor to guide you through the application process. 

This blog explores different life insurance options for MS, eligibility criteria, cost factors, and tips to get the best life insurance for multiple sclerosis in Canada.

What is multiple sclerosis?

Multiple sclerosis (MS) is a chronic neurological disease that affects the brain and spinal cord, damaging the protective myelin sheath around nerve fibers.

When the immune system attacks this sheath, it interrupts the communication between your brain and body, leading to a wide range of symptoms. These symptoms often vary from person to person, making MS an unpredictable health condition.

Doctors typically classify MS into four types:

• Relapsing-remitting MS (RRMS): This type causes temporary flare-ups followed by periods of recovery
• Secondary progressive MS (SPMS): This form begins as RRMS but eventually leads to a steady worsening of symptoms
• Primary progressive MS (PPMS): Symptoms worsen gradually from the start without clear relapses or remissions
• Clinically isolated syndrome (CIS): This is a first neurological episode that may or may not develop into MS

Can you get life insurance with multiple sclerosis?

Yes, you can get life insurance even if you have been diagnosed with multiple sclerosis. Although insurers view MS as a high-risk condition, they still offer coverage options based on how well you manage the disease. Insurance companies evaluate your application based on the type of MS, your age at diagnosis, the frequency and severity of flare-ups, your current treatment plan, and the stability of your condition over time.

If your MS is mild and stable with minimal progression, some insurers may approve you for a traditional life insurance policy with full underwriting. However, if your condition shows rapid progression or causes significant disability, you may either qualify for no-medical plans or face rejection. The non-medical policies do not require a medical exam, but they typically come with higher premiums and limited coverage.

What do MS patients look for in a life insurance policy?

Life insurance for MS patients should typically offer long-term financial security, flexibility, and guaranteed protection. Since MS is a chronic and progressive disease, people want to ensure their loved ones remain financially protected even if their health deteriorates over time.

• Guaranteed coverage despite medical history: Applicants prefer policies like simplified issue or guaranteed issue life insurance that do not require medical exams and offer easier approval
• Stable and predictable premiums: Many choose whole life or term life insurance with fixed premiums to ensure affordability, especially if their condition progresses
• Cash value accumulation: Policies like participating whole life insurance attract MS applicants who want to build savings they can access during emergencies or to supplement retirement
• Flexible underwriting: Individuals look for insurers that assess MS on a case-by-case basis, considering factors like type of MS, symptom stability, and treatment history
• Conversion options: Individuals suffering from MS often value term policies with conversion privileges to switch to permanent coverage later without new underwriting
• Support for legacy planning: Applicants want policies that allow them to leave behind a tax-free death benefit to support family members or settle outstanding debts

What are the life insurance options for MS patients?

People with multiple sclerosis (MS) can choose from several life insurance options in Canada, including traditional or no-medical life insurance policies. Some individuals may also seek life insurance coverage as a part of a group plan.

Here are the most common life insurance options for individuals diagnosed with MS:

Term life insurance

If your MS is well-managed and has remained stable for several years, you may qualify for term life insurance after full medical underwriting.

Term life insurance provides coverage for a set period (e.g., 10, 20, or 30 years) and offers lower premiums than permanent life insurance. Insurers will evaluate your medical records, age of diagnosis, and functional ability before offering coverage

Whole life insurance

Some applicants with mild symptoms may also qualify for whole life insurance, which offers lifelong coverage and builds cash value over time. Although the approval process for whole life insurance typically requires full medical underwriting, applicants may still get coverage if their symptoms are stable.

Simplified issue life insurance

If traditional policies prove difficult to qualify for, you can apply for simplified issue life insurance. This type doesn’t require a medical exam but includes a health questionnaire. Applicants with moderate MS who can still function independently often apply for this life insurance plan

Guaranteed issue life insurance

If your MS is severe or rapidly progressing, guaranteed issue life insurance offers a solution. This policy requires no medical exams or health questions, making it ideal for people with advanced chronic illnesses.

However, coverage amounts are limited (usually under $50,000), and most policies include a two-year waiting period for full benefits

Group life insurance

If you’re still employed and your workplace offers group life insurance, you can take advantage of this coverage. Most group plans don’t require medical underwriting, so MS patients can obtain life insurance as part of their employee benefits package.

What do insurers look for when you have multiple sclerosis?

When you apply for life insurance with multiple sclerosis, insurers evaluate specific medical and lifestyle factors to assess your risk. It helps them determine whether you qualify and what premium rates to offer. 

• Type of MS: Insurers consider relapsing-remitting MS (RRMS) a lower risk because it typically involves stable periods and responds well to treatment. However, primary progressive MS (PPMS) and secondary progressive MS (SPMS) pose higher risks due to continuous symptom progression and fewer treatment options
• Age at diagnosis: Insurers view early diagnoses as higher risk since the disease has more time to progress. A diagnosis later in life with mild symptoms typically leads to better outcomes
• MS progression: Insurers seek stable disease with prolonged periods of remission and minimal flare-ups. Rapid progression or frequent relapses raise red flags during underwriting
• Current MS treatment plan: You increase your chances of approval by managing your MS consistently with medications, neurologist check-ins, and therapy. Active treatment shows responsibility and stability
• Daily functioning: Insurers prefer applicants who work, walk, and manage daily life without support. If you use mobility aids or require care, they may limit your policy options
• Time since last MS relapse: If you’ve gone several years without a relapse, insurers view your condition as stable. The longer your remission, the more likely you are to access traditional policies

Factors that insurers look for in life insurance for MS patients

What are the best life insurance companies for multiple sclerosis in Canada?

Many insurance companies in Canada offer life insurance coverage to individuals suffering from MS. These companies include Assumption Life, Canada Protection Plan, Industrial Alliance, Sun Life, and Manulife.

Best life insurance companies for people diagnosed with MS

*Illustrative life insurance plans for a 35-year-old non-smoking male diagnosed with multiple sclerosis

Does multiple sclerosis increase the cost of life insurance premiums?

Yes, multiple sclerosis (MS) usually increases the cost of life insurance premiums because insurers view it as a higher-risk condition. Underwriters assess how MS affects your long-term health and mortality rate, and most insurers apply premium loadings. 

For individuals with mild, well-managed MS, premiums may increase by 25–75%. Moderate or progressive MS may result in premium hikes of 50–100%, and in some severe cases, insurers may decline coverage.

For example, a 40-year-old non-smoking woman with mild MS might pay around $56 per month for a $500,000, 20-year term policy, whereas a man with the same profile may pay about $72-$85 per month. 

Applicants with moderate MS can expect life insurance rates in the range of $200–$300 per month due to their higher risk classification. Providing a complete medical history and comparing life insurance quotes can help you secure the most affordable policy.

Tips for getting the best life insurance with multiple sclerosis

If you are looking to get the best life insurance with multiple sclerosis, consider working with an insurance broker, gathering medical records, opting for a no-medical plan, and being honest about your condition. 

• Work with a life insurance broker: A life insurance broker can help you choose the right plan as per your medical condition by comparing life insurance quotes from multiple insurers. Moreover, our licensed advisors at PolicyAdvisor will understand your needs and compare life insurance plans from 30+ insurers to help you choose the best plan at affordable rates
• Gather medical records: Make sure to gather all the medical records of your MS diagnosis. From treatment history, medications, and proof of disease stability, having detailed documentation can help the insurer better understand your condition
• Apply when stable: Applying for life insurance when your condition is stable can increase your chances of approval. Additionally, insurance providers favour applicants whose MS has been stable for at least a year or two, with no significant progression
• Consider no-medical policies: Consider applying for non-medical policies like simplified issue or guaranteed issue life insurance. Moreover, these life insurance options require fewer to no medical questions and are quicker to qualify for, though they may have limited coverage and higher premiums
• Be honest:  Always provide accurate information about your medical condition, diagnosis, treatments, and medication to the insurer. Additionally, not disclosing accurate information at the time of application can lead to claim denial later

How to get affordable life insurance quotes for multiple sclerosis?

Finding the best life insurance quote when you have multiple sclerosis can feel overwhelming, but it’s essential to secure your financial future and provide peace of mind to you and your family. At PolicyAdvisor, our licensed advisors can help you get tailored quotes by comparing plans from 30+ insurers and finding the one that fits your unique needs and budget.

You can also get access to our AI-powered life insurance calculator that can give you monthly plans based on your needs in under a minute! Additionally, connect with our experts today to get life insurance quotes and find the best plan designed just for you.