For those with myasthenia gravis, questions may have come forth in regards to applying and being approved for life insurance. Life insurance with myasthenia gravis is still obtainable, and at very fair rates for most.
If you have MG and you’re considering a purchase of life insurance, contact us so we can help you find the most appropriate carrier with the most affordable policy; not all life insurance companies offer the same rates!
If you’re unsure if you can qualify or you’d simply like to read more about how myasthenia gravis affects life insurance, continue reading below. We’ll outline exactly what an underwriter will be looking for, what ratings you can expect depending on your current situation, and even give you some tips on applying.
There are different degrees of severity when discussing myasthenia gravis, so naturally there are a wide range of ratings available for those approved for life insurance with myasthenia gravis. Not everyone experiences the same signs and symptoms, and in some cases, the MG may even subside for a period of time.
While there is no cure, there are treatments available for some of the common signs and symptoms. These signs and symptoms are the most important thing which determines your level of difficulty with the disorder, how you can maintain your daily life, and, ultimately, what range of life insurance you’ll be eligible for.
According to the Myasthenia Gravis Foundation of America, common symptoms include:
While some of the many symptoms may be highly irritable, they don’t affect your longevity or life span. However, symptoms like difficulty swallowing, chronic muscle fatigue and difficulty breathing can all lead to complications which may lead to a lower life span. While most individuals with myasthenia gravis live a long life, very early onset MG can pose a high risk for an insurance company.
The good news for those looking to buy life insurance with myasthenia gravis is the ability to buy a fully underwritten policy. What this means is, you can buy the type of insurance which allows you to undergo the physical, bloodwork, and full medical record research.
Why is this good?
The more underwriting you can complete and still be approved means you’ll pay less! A lot less! There are policies available, called guaranteed issue life insurance policies, which don’t require any medicals or questions to be asked, but the cost per thousand is significantly higher and the death benefit amount is limited.
If you can prove your overall health is in good order and the myasthenia gravis is not a great concern, you can be approved as high as Standard! Do be aware that not all carriers will offer this rate to you, as each company has different guidelines. You’ll want to choose the right agent who has access to many companies in order to have the best chance.
For those with mild complications, a Mild Sub-Standard rating is probable. These ratings are held for those who are stable with treatment of only mild to moderate symptoms, including facial muscle weakness.
For those who have symptoms relating to breathing, mobility (like legs) or swallowing, or those who undergo significant treatment on a very regular basis, could get a very low table rating or will be declined. If this is the case, your best option may be a guaranteed issue policy which does not require any questions or physicals. At Waterway Financial Group, this is a last resort because it is the most expensive option.
If you or someone you know needs life insurance with myasthenia gravis, contact us and we’ll do our best to assess your unique situation. Our goal is to find you the most affordable policy from the most lenient carriers. Not everyone’s experience with buying life with myasthenia gravis is similar, so we’ll do our best to help you have realistic expectations.