Bipolar Disorder is an illness that causes significant changes in mood, activity levels, and the ability to carry on daily activities.
Bipolar life insurance underwriting is a common mental health life insurance we work with. As life insurance companies see more bipolar life insurance cases, life insurance underwriters have gained a better understanding of bipolar disorder and as a result, have become more aggressive with life insurance underwriting offers than in the past.
Bipolar Disorder is characterized by extreme changes in mood from bipolar disorder mania to bipolar disorder depression. In between these mood swings or poles the individual may experience normal moods. Bipolar Disorder symptoms may vary from mild to severe.
From a life insurance underwriting standpoint, we know how to work with life insurance underwriters, we know which impaired risk life insurance companies to go to and which life insurance companies to avoid.
Types of Bipolar Disorder
Bipolar Disorder 1 – This is classified as having at least one manic episode and you may or may not have had previous episodes of depression.
Bipolar Disorder 2 – You have had at least one hypomanic episode. Hypomanic episodes are similar to manic except that hypomanic are shorter in duration.
Life insurance underwriters look at Bipolar Disorder and will classify your Bipolar Disorder as either mild bipolar, moderate bipolar, or severe bipolar disorder.
This classification is based on the severity of your bipolar disorder, medication for bipolar disorder, support network, suicide attempts, and hospitalizations.
Mild Bipolar Disorder – No lost time from work, no suicide attempts or hospitalizations, well-controlled on medication, a good support network.
Moderate Bipolar Disorder – No more than 1 month of lost work time, no hospitalizations in the past 2-3 years, no suicide attempts in the past 2-3 years, may have some mood change history from medications, a good support network.
Severe Bipolar Disorder – Lost time from work of more than one month, history of dangerous behavior during manic periods, multiple hospitalizations or suicide attempts, major medications, lack of support network.
Bipolar Disorder Diagnosis:
Please note that the information contained here about Bipolar Disorder is coming from a term life insurance underwriting standpoint and is not meant to replace a qualified physician’s advice. Always consult your physician for medical advice.
If you have been diagnosed with Bipolar Disorder, you may have experienced the following yourself.
A number of our clients originally were diagnosed as having depression or severe depression and it turns out that they were misdiagnosed with depression when they should have been diagnosed with Bipolar Disorder.
They may have received medication for depression….medication that for someone with Bipolar can be terrible….sound familiar?
We understand Bipolar Disorder from a life insurance underwriting standpoint. We know the questions to ask you about Bipolar Disorder and know which life insurance companies do the best job underwriting Bipolar Disorder. Let us help you get the life insurance coverage you need.
What to Expect from Bipolar Disorder Life Insurance Underwriting:
Which life insurance companies are best for bipolar?
Life Insurance underwriting will look at your Bipolar Disorder to see if it is Bipolar I, Bipolar II, Mixed Bipolar, or Rapid Cycling Bipolar. Your Bipolar Disorder may have also been classified as Mild BiPolar, Moderate Bipolar, or Severe Bipolar.
We gain an understanding of your Bipolar Disorder upfront. We ask you the questions that life insurance underwriters want to know. Once we have your information, we will send it to life insurance underwriters for preliminary life insurance quotes.
It typically takes a few days to a week to receive feedback from all life insurance underwriters. Once we receive that feedback, we will contact you with this information and provide you with estimates of your life insurance cost based on underwriting feedback.
If you decide to apply for life insurance coverage, a licensed insurance agent will help you with your application to the life insurance company. Upon life insurance approval, you will receive a life insurance policy and have a period of time to decide whether you want to accept the life insurance policy.
There is never any cost to you to apply to a life insurance company and you are under no obligation. If you are declined by a life insurance company or receive a rate that is less favorable than expected, your agent will review with you and help you with your next steps.
At RiskQuoter Insurance, our life insurance service is a no-pressure, no-obligation insurance service. We’ll give you the information you need to make an informed decision about your life insurance.