Discover All the Essential Information About Life Insurance With Bipolar Disorder in [2024] + YouTube Video
Applying for Life Insurance with Bipolar Disorder is a simple process. Our agency is here to make the process of applying for life insurance with a medical condition simple
and straightforward.
We understand the unique challenges you may face when seeking coverage, and we are dedicated to helping you find the best options available.
We have partnered with over 40 reputable life insurance companies that offer the lowest rates specifically for individuals with this mental illness.
You no longer have to worry about high premiums or being denied coverage. We will guide you through the entire process by providing personalized assistance every step of the way.
Take control of your future and protect your loved ones. You can apply for bipolar disorder life insurance with a simple telephone application.
Table of Contents
Bipolar Disorder is a condition that impacts more than 7 million Americans annually. Previously, this condition often went undetected due to limited knowledge and resources among healthcare providers.
What is Bipolar Disorder?
Bipolar disorder is a mental disorder that affects individuals, accompanied by anxiety and depression.
I assume you already understand this condition if you are reading this blog post. However, if you were recently
diagnosed and have minimal experience with it, this description may help you.
Bipolar disorder used to be called manic depression years ago, and it is a mental health condition. This mental illness can cause extreme mood swings from anything, such as emotional highs, referred to as mania, and lows, referred to as a state of depression.
When an individual becomes depressed, they may feel sad or possibly hopeless and lose all interest in almost all of their activities. When your mood shifts to mania or “hypomania,” which is less than mania, you may feel euphoric, full of energy, or even very irritable.
These off-the-wall mood swings can affect a person’s sleep, potential energy, activity, judgment, and ability to think as clearly as usual.
How to Apply for Life Insurance With a Medical Condition: YouTube Video
How Are Mental Illnesses Perceived by Life Insurance Companies?
Life insurance underwriters prefer applicants that have their condition well-managed and under control. They hope to see somewhat of a normal lifestyle where your condition does not have severe adverse effects in your everyday life.
For example, they would not classify your condition as being under control if you cannot work or drive a car with your situation.
If you are taking medication and it works well for you, this is a positive sign that they will accept you with a good health classification. Underwriting bipolar life insurance is much easier than it used to be years ago.
If you can live everyday life, have a job and even have a social life or marriage, you will be in good shape when you decide to apply for life insurance. Therefore, it is imperative to ensure your doctor helps you find the best medication to control your condition.
Twelve Signs and Manifestations of Bipolar Disorder?
Most people with bipolar disorder will experience many of these effects:
1. A Strong Feeling of Sadness, Hopelessness or Being Irritable.
2. Noticeable Lack of Physical Energy.
3. Waking up Very Early In the Morning for No Reason
4. Having Suicidal Thoughts Throughout the Day.
5. Regular Difficulty In Concentrating and Remembering.
6. Major Loss of Interest in Performing Everyday Activities.
7. Becoming Delusional and Having Hallucinations.
8. A Major Difficulty In Falling Asleep at Night.
9. An Intense Feeling of Emptiness and Feeling Worthless.
10. A Very Strong feeling of Guilt and Despair.
11. Loss of Appetite Even with Food They Normally Enjoy.
12. Feeling Very Pessimistic About Everyday Life.
Questions the Carriers Commonly Ask:
These are the most important questions you may be asked about your condition:
1. When were you first diagnosed with this condition?
2. What prescription drugs have you been prescribed?
3. Have you ever attempted suicide or considered suicide?
4. Have you been hospitalized for bipolar?
5. Do you see a psychiatrist regularly?
6. Has your condition advanced since your first diagnosis?
7. Do you use alcoholic beverages or unprescribed drugs?
Which Life Insurance Companies Are Best for Bipolar Disorder?
There are many excellent companies to consider when applying for life insurance with a mental illness. Here are the ones we usually use and have excellent results, especially for people with mental conditions.
You can click on the companies below for more information:
1. Prudential
2. Lincoln Financial
3. Protective Life
4. Banner Life
We are independent agents (brokers) and work with over 40 of the top-rated life insurance companies in America and choose the company we know best fits our applicants.
The process of selecting a life insurance company is crucial for securing the most favorable premiums.
The Primary Types of Bipolar Disorder
There are four main classifications of bipolar disorder:
Bipolar I:
This is a version of the illness where many people have visualized an experience of mania at least once or many times since it initially diagnosed them. About all the patients in these classes have had episodes of mania and also depression.
For anyone diagnosed with bipolar 1, their manic episodes must last a minimum of seven days or they must be hospitalized because of their severity.
Bipolar II:
This disorder classification is a combination of depressive episodes that shift back and forth between two versions of depressive episodes but are never at a complete manic state. If this sounds confusing, that’s because it is!
Cyclothymic Disorder:
It is also known as Cyclothymia, which is a time-based, volatile mood where people with this condition have strong moods of depression along with a state of mild depression for at least two years. Cyclothymia patients may have short periods of a relaxed attitude but these rarely last over two months.
Unspecified Bipolar:
When a person does not meet the medical criteria for being diagnosed with bipolar I, II, or Cyclothymia, they are classified as having the unspecified type. Even people diagnosed with unspecified can still experience abnormal mood elevations.
Life insurance for bipolar disorder patients will fall into one of the above specific types of classifications.
Commonly Used Medications
Here is a list of some of the most recommended and effective medications used to treat bipolar patients, beginning with mood stabilizing drugs.
Effective for Mood Stabilization:
1. Haloperidol – Generic Name: Haldol
2. Loxitane – Generic Name: Loxitane
3. Aripiprazole – Generic Name: Abilify
4. Asenapine – Generic Name: Saphris
5. Cariprazine – Generic Name: Vraylar
6. Lumateperone – Generic Name: Caplyta
7. Lurasidone – Generic Name: Latuda
8. Olanzapine – Generic Name: Zyprexa
9. Nuplazid – Generic Name: Lybrido
10. Quetiapine Fumarate Generics Name: Seroquel
11. Risperidone – Generic Name: Risperdal
12. Ziprasidone (Geodon)
These medications differ from the list above which is used for mood stabilization whereas this list below is used for the depression symptoms of bipolar patients.
1. Fluoxetine can be used together with Olanzapine – Generic Name: Symbyax
2. Lumateperone – Generic Name: Caplyta
3. Lurasidone – Generic Name: Latuda
4. Quetiapine Fumarate – Generic Name: Seroquel
Frequently Asked Questions:
Q. Can I Buy Life Insurance if I Have Bipolar Disorder?
Can someone with this condition buy life insurance? Just a simple bipolar diagnosis alone will not significantly affect getting approved or declined.
However, after you complete the application, the answers to your mental health questions will be the deciding factor, along with a few others, if you can get approved.
Remember that other medical conditions, such as your height, weight, and driving record, will determine factors. Medical records from your doctor’s office and a para-med exam are all entered into the underwriting process.
Purchasing life insurance for bipolar patients is a simple process so don’t worry.
Q. What Is the Life Expectancy of an Individual With Bipolar?
They reported life expectancy of individuals with bipolar disorder to be reduced by as much as 11 to 20 years. But remember, this information is based on patients aged 15-20 years old. These numbers will be inaccurate for people diagnosed later in life.
Every person is different, so it makes little sense to worry about bipolar disorder reducing your lifespan. Many people with this condition lead a perfectly everyday life and live to a ripe old age.
Q. Can Bipolar Disorder Shorten a Patient’s Life?
Bipolar disorder can shorten a person’s life if the condition becomes severe enough. The reason is if the person lives an unhealthy lifestyle, smokes heavily, consumes a lot of alcohol, or even commits suicide.
Living a stressful life can easily shorten one’s life, but this holds if you have bipolar or not.
A severe case of bipolar usually shortens a person’s life. This is typically the case where the person does not keep their condition under control by seeing a medical professional and not using the needed medication.
Q. Can Bipolar Disorder Advance to Damaging Brain Cells?
Studies have shown that people with bipolar disorder may suffer progressive brain damage through the years of having this condition. Some Bipolar patients can live a full life with no brain cell damage at all.
Q. Does Bipolar Worsen With Age?
Research has shown that the frequency and severity of bipolar episodes are clearer in older patients with this disorder. The study also showed that older-aged patients spent less time in manic and hypomanic states of mind.
However, as I stated before, everyone is different, so studies have shown that some people can be different.
Q. Can Bipolar Be Considered a Mental Disability?
We can definitely consider this condition a disability if severe enough. The Americans with Disabilities Act is a law that you are probably aware of and assists people with disabilities and receive equal employment rights.
It is the same as having a condition such as blindness, being deaf, or being paralyzed in a wheelchair. Social Security benefits are also available if you cannot work.
Q. Are You Born With This Condition or Developed After Birth?
Bipolar disorder is a basic rule of thumb often inherited from family members, usually the parents. The genetic factors that account for this are about 85%.
Therefore, if one of a person’s parents has this condition, there is a 15% chance that their offspring will develop the condition as well.
Q. What Can Trigger a Bipolar Event?
Factors that can increase the risk of this condition include having a parent or sibling with the condition at times of high stress, such as the death of a close family member, or a major traumatic event, such as a near-death accident.
A common trigger can also be alcohol abuse or the use of illegal hallucinating drugs. Medical science keeps learning more about this condition every year.
Q. Is It Possible for This Condition to Advance Into Dementia?
Many studies have found that bipolar disorder significantly increases the risk of dementia in older adults. The test results also show that mood disorders are associated with an increased risk of dementia.
New drugs available have proven to help suppress dementia from developing in many people, according to medical studies.
Q. Can This Condition Create a Brain Fog Type Experience?
The brain fog condition can quickly occur with bipolar and is often associated with symptoms such as memory loss, a feeling of being disorganized, having to grope for words, and having learning difficulties. They can also view bipolar-related brain fog as the memory loss that patients experience daily.
Q. Can a Person With Bipolar Disorder Lead a Normal Life?
Even though there is no known cure, many people with this condition lead an everyday life and do very well. Thousands of people with this condition have families and responsible occupations. Constant research is constantly being done to improve the medications used for this mental condition.
Q. Is This Mental Condition a Biological Disease?
Bipolar disorder is considered to be a biological illness. Very stressful events can cause it in a person’s life. However, the specific causes that trigger this condition are not fully understood.
Still, doctors have been making a lot of advancements in the treatment and exact causes that activate this disorder of the mind.
Can Suicide Attempts Affect Applications?
Contemplating suicide or engaging in suicide attempts would represent the most unfavorable answer when applying for life insurance with a bipolar disorder diagnosis.
Anytime someone applies for life insurance with bipolar disorder and there was a past suicide attempt or even thoughts
of attempted suicide, they usually decline the application at this point.
Research studies have shown that over 18% of people with bipolar disorder have committed suicide.
This rate is over 35 times the rate of suicide for people that do not have bipolar disorder.
Most life insurance policies have exclusions that will not cover suicide if suicide occurs within the first two years of the policy period. Suppose you ever have tried to commit suicide.
In this case, we will usually decline your application unless you can show that the suicide attempt was due to a highly traumatic event that has passed and will not occur again.
A past suicide attempt could potentially complicate your application. Be transparent with your agents about this detail to enable them to work on finding the best possible solution for your situation.
What Is the Best Way to Apply for Coverage?
Applying for life insurance with bipolar disorder will give you three different ways to apply. The first way is to use a paper application which can end up
being approximately 30 pages.
The second way to apply is by using a more modern online application method.
Even though this way can work out well, you still have to own a computer, have a relatively fast internet connection, and hope there are no time-consuming glitches in the application software.
In addition, this will not be an excellent way to apply if you are not computer savvy.
The third and best way to apply is with a telephone application like we use daily. The telephone application is fast and straightforward; you only have to sit back and answer a few questions. This type of application takes about 15 minutes to complete.
Medical Assessments & Pre-Screens
The more your agent knows about the specifics of your condition, the better he will be able to help you apply and get approved with the best rates.
A medical assessment is just answering a few questions
A simple medical assessment analyzes what will happen if you apply and what will be the best insurance company for you to use. This is no more than a 5 minute question and answer session between you and your agent (hopefully us).
These questions will relate to your health history, height, and weight, along with a few other questions.
We would then go over the form to choose the best company for you to apply with and eliminate any application problems before going into the formal application itself. It saves a lot of time, can save you money, and smooths the application process.
How to Compare the Best Life Insurance Rates
Usually, I would tell you to activate our website quoting system and compare the rates from over 40 companies or call us, and we will give you a premium quote over the telephone.
With bipolar, there are too many variables to consider. If you need to complete our pre-screening form, we will contact you with a few general questions.
At that point, we will have you apply with the most applicable insurer and then allow the carrier to begin their application process.
There is no cost for an application; this is the only way to get any solid answers concerning acceptance or premium cost factors. Today’s application process is simple and fast; your agent does about 90% of the work without any cost to you. All you have to do is answer the initial questions on the telephone application.
Mental Health Questionnaire
If you would like us to provide you with an accurate rate quote, please complete this health questionnaire.
This form is simple to complete and provides us with the vital information we need to properly supply you with an accurate rate quote.
Rest assured that your information is secure and confidential.
You can either email or fax it back to us and we will be able to provide you with an accurate projection of what your rates will be if you apply.
Our Contact Us page contains our email address and fax number. Don’t hesitate to let us know if you have any questions. We are available seven days a week!
Our Final Thoughts
If you are planning on purchasing bipolar disorder life insurance and the idea of having this medical condition has you worried, don’t give it another thought. We work with all forms of health conditions every day with great success due to today’s relaxed underwriting guidelines and our access to the complete life insurance market.
Contact us today and we will answer your questions and remove all the guesswork you may have.
In addition, we will provide you with life insurance quotes from all the most competitive companies chosen explicitly for you and your budget. We are here to help you seven days a week.
All the best,
Jack Venturi
Should you have any questions or need further assistance, please don’t hesitate to call us at 815-390-7545 for a prompt response.
