Bipolar disorder is a mood disorder that includes periods of higher than normal irritability alternating with periods of depression. This causes mood swings that can be sudden and have a major effect on daily living activities, relationships, and ability to carry out tasks. If you are bipolar and applying for life insurance, the severity and treatment of the disorder can have a big impact on the rates that you pay.
Life insurance companies will want to know the following information to make an accurate risk assessment:
- How long have you been diagnosed as bipolar?
- Have you ever been hospitalized for bipolar or attempted suicide? If so, how many times and when?
- Has the condition improved since it was first diagnosed, or progressively become worse?
- Are you taking prescription medication to control symptoms?
- Have you ever been unable to work or received disability payments due to bipolar?
- Are you currently working now?
- Any other co-morbid conditions such as tobacco use, diabetes, obesity, heart disease, etc?
If you have been diagnosed with bipolar disorder, you should not apply with multiple companies at the same time. The more companies that give you a table rating or decline coverage on a formal application, the less likely you are to get a better offer!
You need the help of an independent life insurance agent that can shop your medical profile informally (no personal information is revealed to the insurance companies, just a general medical profile). We specialize in high risk life insurance and make sure you are getting the best possible offer. This is how it works:
- Call us at 1-888-972-0024 to review by phone. You can also e-mail us by CLICKING HERE.
- We submit your general medical profile to 10-15 of the most competitive, highly rated life insurance companies with the lowest rates in the industry (again, no personal information is disclosed)
- We review each of the offers and send you a spreadsheet with the lowest rates from the company or companies that made the best offer(s)
- You apply for the policy of your choice. We walk you through the application, follow up on the underwriting, and get the finalized offer. Note, there is no cost to apply and no obligation to accept the final offer from the insurer.
- The policy can be delivered, signed, and paid for electronically with many insurers today – a paper policy delivery can still be mailed upon request. Once the signatures and initial payment are completed – you’re done!