Life insurance is an essential financial tool that provides financial protection to your loved ones in case of an unfortunate event. However, getting approved for a life insurance policy can be difficult for people with certain medical conditions.
One such condition is Diffuse Cerebral Sclerosis, also known as Schilder’s Disease. In this article, we will discuss what Diffuse Cerebral Sclerosis is, how it affects your ability to get life insurance, and what steps you can take to increase your chances of getting approved.
What is Diffuse Cerebral Sclerosis (Schilder’s Disease)?
Diffuse Cerebral Sclerosis, also known as Schilder’s Disease, is a rare neurological disorder that affects the myelin sheath, which is the protective covering of nerve fibers in the brain. The disease causes the myelin sheath to become thickened and inflamed, which leads to a loss of nerve function.
Causes:
The exact cause of Diffuse Cerebral Sclerosis is unknown, but it is believed to be an autoimmune disorder, which means the immune system mistakenly attacks healthy tissues in the body, including the myelin sheath in the brain.
Symptoms:
The symptoms of Diffuse Cerebral Sclerosis can vary depending on the severity of the disease. Some common symptoms include:
- Impaired speech and vision
- Difficulty walking
- Weakness or paralysis in the arms and legs
- Seizures
- Personality changes
- Cognitive impairment
- Headaches
- Fatigue
Treatments:
There is no cure for Diffuse Cerebral Sclerosis, and treatment options are limited. Treatment may include corticosteroids or other immunosuppressive drugs to reduce inflammation, as well as physical therapy to help manage symptoms. Some people with severe symptoms may require hospitalization or long-term care in a specialized facility.
Worst Case Scenario:
In some cases, Diffuse Cerebral Sclerosis can be life-threatening. The disease can lead to complications such as seizures, pneumonia, or other infections, which can be fatal. Additionally, the loss of nerve function can lead to severe disability, making it difficult or impossible for people with the disease to perform daily activities.
How Diffuse Cerebral Sclerosis Affects Life Insurance Approval
Diffuse Cerebral Sclerosis is a rare condition that can affect your ability to get approved for life insurance. Life insurance companies view people with medical conditions as higher-risk individuals, which means most (if not all) life insurance companies are going to automatically deny any traditional life insurance application from someone who has been previously diagnosed with Diffuse Cerebral Sclerosis.
This means that in order for someone with Cystic Fibrosis to purchase a life insurance policy they will need to consider alternative products such as a guaranteed issue life insurance policy, a group life insurance policy or an accidental death policy.
Alternative options to consider.
Because individuals with Diffuse Cerebral Sclerosis (Schilder’s Disease), will likely find it impossible to qualify for traditional life insurance policies seeking out alternative products such as guaranteed issue life insurance, group life insurance, and accidental death policies, may be a good option.
Guaranteed issue life insurance
Guaranteed issue life insurance is a type of life insurance policy that does not require a medical exam or health questionnaire, making it a viable option for individuals with Diffuse Cerebral Sclerosis (Schilder’s Disease) who may have difficulty obtaining traditional life insurance. While there are benefits to a guaranteed issue policy, there are also some drawbacks to consider.
Pros of Guaranteed Issue Life Insurance:
- No Medical Exam: The main advantage of a guaranteed issue life insurance policy is that there is no medical exam or health questionnaire required. This means that individuals with pre-existing medical conditions such as Diffuse Cerebral Sclerosis can still get coverage.
- Guaranteed Approval: As long as you meet the age and residency requirements, you are guaranteed approval for a guaranteed issue policy. This can provide peace of mind knowing that you will have coverage in place.
- Fixed Premiums: Guaranteed issue life insurance policies typically have fixed premiums, meaning that your premiums will not increase over time. This can make it easier to budget and plan for your life insurance needs.
Cons of Guaranteed Issue Life Insurance:
- Higher Premiums: Guaranteed issue life insurance policies typically have higher premiums than traditional life insurance policies. This is because the insurance company is taking on a higher risk by insuring individuals without medical underwriting.
- Lower Coverage Amounts: Guaranteed issue life insurance policies often have lower coverage amounts than traditional policies. This means that the death benefit may not be enough to cover all of your final expenses or provide adequate financial support to your loved ones.
- Waiting Periods: Many guaranteed issue policies have waiting periods before the death benefit is paid out. This means that if you were to pass away during the waiting period, your beneficiaries may only receive a partial or no payout at all.
It’s important to weigh the pros and cons of guaranteed issue life insurance and consider your personal situation before making a decision. For individuals with Diffuse Cerebral Sclerosis who are unable to obtain traditional life insurance, a guaranteed issue policy may be a good option to consider.
Group Life Insurance:
Group life insurance is a type of life insurance policy that is typically offered through an employer or organization. It can be a viable option for individuals with Diffuse Cerebral Sclerosis (Schilder’s Disease) who may have difficulty obtaining traditional life insurance. However, like any type of insurance policy, there are both pros and cons to consider.
Pros of Group Life Insurance:
- No Medical Exam: Group life insurance policies do not typically require a medical exam or health questionnaire, making it easier for individuals with pre-existing medical conditions such as Diffuse Cerebral Sclerosis to obtain coverage.
- Lower Premiums: Group life insurance policies are often less expensive than individual policies because the risk is spread across a larger pool of people. Additionally, employers may subsidize some or all of the premiums, making it an affordable option for employees.
- Guaranteed Approval: As long as you are eligible for the group policy, you are guaranteed approval for coverage. This can provide peace of mind knowing that you have protection in place.
Cons of Group Life Insurance:
- Limited Coverage Amounts: Group life insurance policies typically have lower coverage amounts than individual policies, which may not be sufficient to cover all of your final expenses or provide adequate financial support to your loved ones.
- No Control over Policy: With a group life insurance policy, the employer or organization selects the policy and coverage amount, leaving the individual with limited control over the policy.
- Limited Portability: Group life insurance policies are tied to the employer or organization, which means that if you leave the company or organization, you may lose your coverage. Some group policies do offer portability options, but they may be limited.
It’s important to weigh the pros and cons of group life insurance and consider your personal situation before making a decision. For individuals with Diffuse Cerebral Sclerosis who are unable to obtain traditional life insurance, group life insurance may be a good option to consider. However, it’s important to understand the limitations of group life insurance policies and explore other options if needed.
Accidental Death Insurance:
Accidental death insurance is a type of life insurance policy that pays out a death benefit if the insured individual dies as a result of an accident. While it may not provide comprehensive coverage, it can be a viable option for individuals with Diffuse Cerebral Sclerosis (Schilder’s Disease) who may have difficulty obtaining traditional life insurance. However, like any type of insurance policy, there are both pros and cons to consider.
Pros of Accidental Death Insurance:
- Guaranteed Approval: Accidental death insurance policies typically do not require a medical exam or health questionnaire, making it easier for individuals with pre-existing medical conditions such as Diffuse Cerebral Sclerosis to obtain coverage.
- Affordable: Accidental death insurance policies are typically less expensive than traditional life insurance policies, making it an affordable option for those on a tight budget.
- Additional Coverage: Accidental death insurance can provide additional coverage on top of traditional life insurance policies, providing additional peace of mind and protection.
Cons of Accidental Death Insurance:
- Limited Coverage: Accidental death insurance policies only pay out if the death is the result of an accident. This means that if the insured individual dies as a result of an illness or natural causes, the policy may not pay out.
- No Cash Value: Accidental death insurance policies do not accumulate cash value over time, meaning that there is no investment component to the policy.
- Limited Benefits: Accidental death insurance policies may have limitations on the amount of coverage provided or the types of accidents that are covered.
It’s important to weigh the pros and cons of accidental death insurance and consider your personal situation before making a decision. For individuals with Diffuse Cerebral Sclerosis who are unable to obtain traditional life insurance, accidental death insurance may be a good option to consider. However, it’s important to understand the limitations of accidental death insurance policies and explore other options if needed.
The good news is that while individuals with Diffuse Cerebral Sclerosis may not be able to qualify for a traditional life insurance policy, that doesn’t mean that they won’t have any options available to them, it just means that they may have to work a little harder to find the coverage they are looking for.