Mortgage Protection with Multiple Sclerosis

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Hello Nick,
I currently have a mortgage application going through. It won’t be a problem to be approved for this amount as I have a permanent job and am applying for less than originally approved for. However although I’m only 27 years of age I was diagnosed with Multiple Sclerosis in September – so far it’s only optic neuritis I suffered. Will I get mortgage protection cover? I didn’t even think it would be a problem until I googled it? Now I’m extremely concerned and worried. I would be very grateful for your help.
Aileen

Aileen had herself worried to bits, but we managed to arrange her mortgage protection without any hassle.

The insurer requested a medical report from her GP, and once they received it, they accepted her for mortgage protection immediately, albeit with a premium loading.

Mortgage Protection with Multiple Sclerosis (MS)

MS is a chronic condition affecting the protective layer surrounding nerve cells.

MS does not significantly reduce life expectancy, and this is why it’s fairly straightforward to get life insurance if you are living with multiple sclerosis.

What information does the insurer look for in an MS patient?

• Type of MS
• Date of diagnosis
• Details of any neurological episodes before diagnosis
• Symptoms and course since diagnosis
• Treatment
• Current neurological status; degree of disability where present

Before offering cover, the insurer will request a medical report from your GP.

How much does mortgage protection cost if you have MS?

The insurer will increase your premium based on the severity of your condition:

Mild: +50/100% increase on the standard price

• Remitting relapsing
• No mobility issues
• No restrictions to daily activities
• No complications

Moderate: +100/150% increase on the standard price

• Relapsing-Remitting or mild Progressive MS
• Mobile but with the use of aids
• Some restrictions to daily activities/some complications

Severe: >150+ % increase on the standard price (if cover is possible)

• Progressive MS
• Immobile
• Severe restrictions/complications

So let’s say the standard price for someone with no health issues was €50 per month.

For the same cover, someone with mild MS will pay €75/€100 per month, with moderate MS €100/125 per month, with severe €125+ per month.

Can you get Income Protection or Serious Illness Cover if you have MS?

Unfortunately, if you have been diagnosed with MS, you cannot get serious illness cover or income protection insurance.

What other types of cover are available to someone with MS?

Multi Claim Mortgage Protection, though your policy will have an MS exclusion bundle.

And you can get Cancer Only cover at the standard price.

Over to you…

If you need mortgage protection or life insurance and don’t know where to turn, I’d love to help.

Please complete this questionnaire, and I’ll be back over email.

Alternatively, you can schedule a call back here.

Thanks for reading

Nick

Editor’s note | We published this blog in 2018 and have updated it since.