Mortgage Protection with Neurological Issues
Life Insurance for Neurological Disorders: What You Need to Know
Welcome to our blog post on life insurance and mortgage protection for individuals with neurological disorders in Ireland.
While it’s not always easy to think about, having a plan in place to protect you and your loved ones is essential.
This post will examine the most common neurological issues we advise on and discuss the factors that insurance companies consider when underwriting policies.
We’ll also provide tips on how to navigate the application process and the options available for those with pre-existing neurological conditions.
By the end of this post, you’ll better understand how to find the right policy for your specific needs, even if you have a neurological disorder.
So, let’s crack on!
Do Migraines Affect Your Application?
Migraines are a common neurological condition in Ireland, affecting approximately 13% of the population.
They are characterised by severe headaches, often accompanied by nausea, vomiting, and sensitivity to light and sound.
While the exact cause of migraines is not fully understood, genetics, hormonal changes, and environmental triggers can contribute to their development.
Although an absolute pain, they won’t affect the price you will pay for your mortgage protection, life insurance or income protection (assuming fully investigated)
Can You Get Cover with Epilepsy?
Epilepsy is a neurological disorder that causes seizures.
According to the most recent statistics from Epilepsy Ireland, an estimated 40,000 people in the country have epilepsy, making it one of the most common neurological conditions in the country.
And that’s why it deserves its own blog:
Getting Life Insurance if you have Epilepsy
How Do Insurers Underwrite a Head Injury?
When applying for life insurance with a head injury, providing as much information as possible about the injury, including the cause, severity, and any ongoing treatments or medications, is important. The insurance company may also request additional medical information from your GP to assess the level of risk.
If you have suffered just a minor concussion and have made a full recovery, you will pay the same premium as everyone else for mortgage protection, life insurance, illness cover and income protection.
However, if you have suffered a severe head injury causing you to be unconscious for a long time or have serious problems like a broken skull, bleeding in the brain, or damage to the brain tissue, the insurers will need a medical report to assess your application.
What is Chronic Inflammatory Demyelinating Polyneuropathy | CIDP?
We had never encountered this condition until last month when we arranged cover for two clients within a week!
One male, one female.
Both are in their 30s.
Both were diagnosed over two years ago with hand and foot symptoms.
Treated initially with Corticosteroids and IVIG every two months.
We managed to get mortgage protection for both clients.
Will Multiple Sclerosis Make it Difficult to Get Mortgage Cover?
If you’re living with multiple sclerosis (MS) in Ireland, you’re not alone.
According to the MS Society of Ireland, over 9,000 people are living with MS in the country, with the majority being female.
While living with MS can present challenges, it doesn’t mean you can’t purchase a home or obtain mortgage protection.
In fact, it’s uncommon for an insurer to reject an applicaiton from someone with MS.
When applying for mortgage protection with MS, you must disclose your condition to your insurance provider. This can make sure that there are no surprises down the line. While MS may impact your eligibility for certain types of coverage, there are still options available, including mortgage protection insurance.
Mortgage protection insurance is a type of life insurance specifically designed to pay off your mortgage if you were to pass away before the mortgage is fully paid off. This can help ensure that your family can remain in their home even if you cannot contribute to mortgage payments.
MS is the most common neurological disorder we advise on, so deserves its own blog here:
Getting Life Insurance with Multiple Sclerosis
Is Life Insurance Possible with Parkinson’s Disease?
Parkinson’s disease is a progressive neurological disorder that affects many people in Ireland.
It is caused by the gradual loss of cells in the brain that produce dopamine, a chemical that helps control movement.
As a result, people with Parkinson’s may experience a range of symptoms, including tremors, stiffness, and difficulty with balance and coordination.
While there is currently no cure for Parkinson’s, there are treatments available that can help manage the symptoms and improve quality of life.
Life insurance should be possible for people with mild to marked Parkinson’s.
Regrettably, the insurers will not offer cover where the illness is severe.
What is Wilson’s Disease?
A rare genetic disorder that causes copper to accumulate in the liver and brain, leading to neurological symptoms.
It’s similar to haemochromatosis, only with copper instead of iron.
Unfortunately, it’s more destructive than that and significantly affects the liver. It’s harder to treat too.
With iron overload, just releasing blood works, but the copper overload is in really small amounts so phlebotomy won’t work as too much blood would need to be lost.
Instead, it’s treated by chelation, which uses another drug to chemically bind with the copper and allow it to be excreted.
This is also introducing another foreign agent into the system, and often not without side effects.
The insurers will need to see up-to-date liver function test results, and assuming all is well, cover will be possible with a loading.
Can You Get Cover if You Have Cerebral Palsy
Cerebral palsy is a neurological condition that affects movement and muscle coordination.
It is caused by damage to the brain during fetal development or shortly after birth.
In Ireland, there are approximately 1,200 children born with cerebral palsy each year, and it is estimated that around 8,000 people in the country are living with the condition.
You can expect the normal price assuming good motor skills, no epilepsy or mental impairment; otherwise, there will be a loading. Where mental impairment is severe, it is more difficult to get cover.
Spinal Cord Injury & Paralysis
When underwriting applications, the insurers are most concerned about the level or location of the damage to the spinal cord.
Mortgage Protection and life insurance are possible for
Monoplegia| Paralysis of a single limb or group of muscles
Hemiplegia| Paralysis of one side of the body
Paraplegia| Paralysis of the lower portion of the body and of both legs
Diplegia | Paralysis of both arms or both legs
Unfortunately, cover is not possible for Quadriplegia
How Long After a Stroke Can You Get Life Cover?
Another common issue we advise on:
Can you get Life Insurance after a Stroke?
Trigeminal Neuralgia & Mortgage Life Insurance
Trigeminal neuralgia is a chronic pain affecting the trigeminal nerve responsible for sending sensations from the face to the brain.
Although the condition is not life-threatening, the intensity of the pain can be debilitating.
Assuming well-controlled, the insurers will offer mortgage protection and life insurance but make sure you apply to the most understanding insurer.
Income protection should be possible with an exclusion.
What Medical Evidence Will The Insurer Need?
The most important tip I can give is to ensure that your GP has access to your consultant reports.
If your GP does not have all your consultant reports, they may not be able to provide the underwriter with a complete picture of your medical history.
This can result in a higher premium rate, or in some cases; the underwriter may decline coverage altogether.
For this reason, ensuring that your GP has all of your consultant’s reports on file is essential.
Even better, obtaining a copy of these reports up front and giving them to me can help streamline the underwriting process.
If you do not already have a copy of your consultant reports, you can request them from your consultant’s office.
It may take some time to obtain these reports, so planning and requesting them well before your life insurance application is important.
Once you have the reports, give them to me, and I’ll take over.
How Can We Help You?
Applying to the wrong insurer for your medical condition could cost you a fortune.
Different insurers may underwrite neurological disorders differently, which means they may assess the risk of providing coverage for your condition differently.
For example, some insurers may be more willing to provide coverage for certain types of neurological disorders than others. Some may charge higher premiums or have more strict policy exclusions.
It is important to research and compare different insurers to find the one that is most likely to provide you with affordable coverage that meets your needs.
Now, you could, of course, fire ahead and do all of this yourself.
Or you could let me do the heavy lifting for you!
Complete this neurological questionnaire, and I will discuss your case anonymously with all five providers (Aviva, Irish Life, New Ireland, Royal London, and Zurich) and get back to you in a jiffy.
Right, that’s enough from me.
I hope you found the blog helpful.
Thanks for reading
Nick
lion.ie | Protection Broker of the Year 🏆
