Mortgage advice

[DarcyShepp]

Hi guys,

I was just wondering if anyone had had an issue with mortgage applications because of their MPN?

How do you get life insurance to cover your mortgage with this condition?

Thanks in advance for any replies

[hunter5582]

I never had an issue obtaining a mortgage. Mortgage insurance was not an issue either.

[DarcyShepp in reply to hunter5582]

Thank you so much for letting me know your experience, I was hoping for some reassurance as we hope to buy a house this year but I was worried my diagnosis might make things more difficult.

[Solyesh]

Not sure where you are located. Life insurance to cover mortgage is a requirement here. I actually did have to go through some hoops. At the life insurance complete physical I had to declare my ET diagnosis. The life insurance company initially did want to reject the application but I filed an appeal and my MPN specialist had to write a letter explaining that ET is a chronic cancer with long-term survival rates in line with the general population. He also provided some statistical tables and that seemed to be enough for the insurance company to approve the application (all other health tests came back with flying colors and no history of issues so that might have helped as well).

[EPguy]

In the US life insurance for a mortgage is not typical, at least when I got one years ago. But there are plenty of other reasons one might want it. My story is with the MPN I was not eligible for life insurance, but got it through a complex renewal of my old policy (my business partner handles this)

Interesting however is later we wanted to sell one of my policies in the market (it can be done) The more dire my prognosis the more $ we get. Turns out MPN is not serious enough to get a premium. I think with all the treatment options we have now, well controlled PV is not worth of the big payday.

As Solyesh says above, there can be an option available, but it may depend on the specifics of your MPN condition.

[DarcyShepp in reply to EPguy]

Thank you EPguy

[bjay22]

We paid off our house before I was diagnosed, but during the worst times of covid we had our Wills made & was told by our money manager that we should also purchase insurance for long term care. I was flat out denied coverage and boy was I angry.