Bipolar Disorder is an illness that causes significant changes in mood, activity levels, and the ability to carry on daily activities.
Life insurance underwriting for bipolar is a common mental health concern we work with.
As life insurance companies insurance underwriters gain a better understanding of bipolar disorder,
underwriters have become more aggressive with underwriting offers than in the past.
It’s important to work with companies that specialize in high-risk life insurance to get the best rate possible.
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.
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, and 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, and a good support network.
Severe Bipolar Disorder – Lost time from work for 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:
Our bipolar disorder info is coming from an 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.
It turned out that they were misdiagnosed with depression when they should have been diagnosed with Bipolar Disorder.
They may have received medication for depression….medication for someone with Bipolar can be terrible….sound familiar?
We know the questions to ask you about Bipolar Disorder and know which life insurance companies do the best job underwriting Bipolar Disorder.
What to Expect from Bipolar Disorder Life Insurance Underwriting:
Best Life Insurers 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.
Bipolar Underwriting Questions
Life insurance companies ask a lot of questions when you’ve been diagnosed with bipolar, including:
- When were you diagnosed with bipolar?
- Do you have bipolar 1 or bipolar 2?
- Have you been hospitalized for bipolar?
- Do you have any history of suicide attempts?
- Do you have any history of suicide ideation?
- Have you ever been on disability due to bipolar?
- What medications and dosages do you take?
- Have you had a change in your medication during the past year?
- How often do you visit with your physician and/or therapist?
- Do you follow your physician’s orders for therapy visits and taking medication?
For any “Yes” answers, we’ll need the details – dates, durations, changes, etc.
Something to remember is that we work for you and will do whatever possible to get you the best life insurance rates possible.
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.
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.
Michael J. Horbal
Owner of RiskQuoter
Too many people overpay for life insurance because they end up with the wrong life insurance company, agent, or both. That’s why I started RiskQuoter – To help you get the best life insurance rates available.
As an independent insurance agent, I’m licensed in all 50 states and the District of Columbia and offer 40+ life insurance companies to ensure you get your best rate!
By Michael Horbal – updated on – 10/02/2022