Yes but whole life (universal life-many names) is not good because if you take any of that money "out" it will be deducted from any benefit payment if it ever gets paid out upon the death of the insured. Many people end up surprised by that, so be aware. With term you pay less because you are not paying for that "extra" money being added and treated like a "savings" but it is not really savings (you get interest elsewhere).
Makes no sense to borrow your own money.

I sold life insurance many years ago and this remains the same, even today. You can always ask about this and double check-any and all companies. I always prefer term.

Hi @A MyMSTeam Member smiles hon!

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A MyMSTea...

You might want term life it is less expensive. I have not heard of any that do not require a medical exam. There is one that says no exam but it is also a lower amount of coverage available. Maybe Colonial Penn? Try an internet search for it. I have seen TV commercials but don't remember the name my best guess is Colonial Penn. You can also try Select Quote they get prices from numerous companies.
Also try looking up a burial expense type of policy and see what prices and coverage you can get.
I have a friend who works for Mutual of Omaha and I have 2 policies with them and am happy with them. She can tell you if they have something that might work for you. Let me know if you would like her number.

Wish I did but the affordability may be hard. Good luck, looking forward to the responses.

Hello everyone. I am an insurance broker in South Carolina. Health and Life. All of your comments are great. You are all correct for the most part. Simply put term insurance is basically renting life insurance for a term. Whole life is permanent insurance. With whole life, you built equity (accumulates cash value). With this cash value, you can take out a loan from the policy. Term insurance there is no cash value. Most term policies have a rider of conversion. Which means you can convert to a whole life policy without having to show insurability. I am a broker so I work for several companies none of them ask the MS question. Diabetics and heart problems is a big issue. I am only licensed in SC. But, I would be glad to answer any question or help in any way that I can. My company has agents all over the US. I can get you a referral for an agent in your town. Please feel free to email me directly with any questions. And anyone in SC. It would be an honor to help you. (Email address can only be seen by the question and answer creators)

If anyone is having difficulty obtaining life insurance...I was told to get a few of the smaller ones(25Gs). There's no medical required. Youll pay a little more, but you'll be covered.