Last reply 6 months ago
Life Insurance

I hope the MS-community ‘hive-mind’ in the UK can help me:

I’m one of 6No. shareholders in my business, our financial advisor recommended that each us take out additional ‘level-term life insurance’ for £250k on behalf of the practice, in case one of us unexpectedly dies – but unfortunately the applications made on my behalf have been declined by both Aviva & Aegon, because of my SPMS! (they cite the ‘secondary’ status as the reason for declining)

Are any of you able to suggest the name of an insurer that better understands our situation?
[n.b. I’m a 48 year old man, working full-time, with SPMS at EDSS 6 – I had AHSCT in 2017, which has stopped any further progress]

Thanks in advance, Sandy

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6 months ago

Hi @sandy_mcmillan and welcome.

I’m surprised that two major insurers have just declined your application. MS is no longer life-threatening, although it does take longer for the insurance industry to understand that.

Personally, I would contact these insurers direct to discuss the refusal. You might find you have more success by cutting out the middle man/men. Although, your premium may well be loaded because of your MS.

I’m pleased to hear that your AHSCT has halted progression. Where did you have this treatment?

6 months ago

@stumbler thanks for the help. My AHSCT was at Clinica Ruiz in Monterrey – I’d recommend.

6 months ago

Can you get a hold of 5he actuarial tables being used?

I suspect that any and all MS is viewed as life-shortening and that is all they go on.

I’d want to see the age of the tables they are using and also the most up to date ones to see if there is any difference.

If there is you *may* be able to make a case. However, insurance companies are totally risk averse. Stem-cell overseas will alarm them as well. Their entire purpose in life is to say no. They don’t make money paying out.

It sounds advised, not compulsory. Will your partners support you if you don’t have it. What about a very tightly constructed will to cover the eventuality of unexpected death? Just a thought.

6 months ago

Since the company wants “level-term life insurance”, the company should jump through the hoops plus pay for it… 😉

6 months ago

@edmontonlberta thanks, but as a shareholder I am ‘the company’, and I just want to find an opportunity to pay for the cover

6 months ago

Have you had your lawyer – or a specialist one – dig into the 2010 Equality Act?

If you can work the discrimination angle there may be some mileage in that. I suspect they may dig in their heels. Insurers can be Grade A bastards!

6 months ago

I dont have SPMS but was just approved by an insurance company after being free of hospitalization over 2yrs. I will locate the information and give it to you. I dont know if location matters…

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