Bipolar Disorder Insurance Questions & Answers
How do life insurance underwriters assess a person with Bipolar Disorder?
Life insurance for people with bipolar disorder can be quite a challenge. Many insurers simply refuse to insure anyone with mental health issues such as this condition.
Other insurers are more liberal in their approach especially if the condition is not too severe and manageable through treatment. Those companies who will insure a person who have a bipolar disorder might have to decline a person if they unable to obtain reports from the person’s attending psychiatrist which can be counter-productive.
A person who has a bipolar is considered a higher risk by many insurers simply because it entails a psychological condition. The degree of the illness and the length that it is managed will greatly affect how an underwriter might rate the person’s application.
Some of the most common rating questions when seeking life insurance for people with bipolar disorder include:
- When first diagnosed with the condition
- What type of bipolar condition which could include Bipolar 1, Bipolar 2, Mixed Bipolar or Rapid Cycling Bipolar
- Determining the extent of Bipolar Mania and/or Bipolar Depression
- Whether the condition is being controlled by medication and for how long
- Whether the person required hospitalization
- Medical and/or psychiatric reports
- The occurrence and duration and frequency of episodes
- Evidence of any psychotic episodes
- Whether or not there has been any evidence of dangerous behavior or concerns involving suicide
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What is Bipolar Disorder?
Bipolar disorder is considered a mental condition which can result in an extreme fluctuation of mood swings. There are essentially two types of bipolar disorders which include bipolar mania and bipolar depression. A person may experience one or a combination of both.
With bipolar mania, a person might experience a manic episode in which they experience variations of inflated self-esteem, rapidly occurring thought patterns, and grandiosity. Such a mood state might be expressed through excessive shopping sprees, sleeplessness or sexual promiscuity and other extreme activities.
Bipolar depression can result in symptoms of depression, extreme sadness, a lack of energy and complete disinterest in life’s normal activities.
Episodes can last anywhere from a few hours, days or even months in more extreme cases. The condition can be medically controlled providing the right medication regime is established.
Finding life Insurance with a Bipolar Disorder
Finding life insurance for people with bipolar disorder is challenging as many insurers will extend an automatic decline to people who have this condition, but there are other insurers who are more liberal and willing to extend coverage.
As greater understanding of this condition develops, more insurers have become more accepting of bipolar disorder as insurable. Some insurers may require that a person be symptom free for at least a period of five years while others require a shorter span.
Because insurers vary quite dramatically when it comes to this condition, and in how they will rate and what they will charge for a premium, some extensive research may be required to find the most lenient insurer in finding a policy.
The insurance agents below are listed by the number of contributor points they have earned from answering questions related specifically to Bipolar Disorder. You may click on an agent to view their individual agent profile.
- 35 Points
- 20 Points
- 15 Points
- 15 Points
- 10 Points
- 10 Points