Another Good Day For Bipolar Disorder Underwriting!

I can tell you that this is a bell that I never get tired of ringing simply because it has ended an often insulting journey and given new hope to someone who carries the stigma of having bipolar disorder.

I got an email within the last hour of approval on a life insurance application for a client whose name tag had earned him rebuke from life insurance agents without even considering an application and declines from a few companies that really should admit that they are in the auto and homeowners business and they are not, seriously, in the life insurance business.

To make it even better, after underwriting and review of his records, the company approved his term insurance at a better rate than we were told to expect. Now that’s never hurt anyone’s feelings!

The truth is that while bipolar can be a disabling and life dismantling mental problem, like all disease and disorders, not everyone suffers the same. There are a huge number of people out there with bipolar disorder whom the people working with them and under them, don’t have a clue that they have anything going on. We have helped CEO’s of companies, school superintendents, doctors and nurses, and working single mothers all who have one thing in common. Their bipolar experience is well controlled and they fit this list.

1. Someone who has not been hospitalized for bipolar disorder other than for diagnosis?
2. Someone who has not attempted suicide or had bouts with suicidal ideations?
3. Someone who is compliant with their treatment, both medications and regular followups?
4. Someone who is leading a stable family life or social life?
5. Someone who is exhibiting a stable work life?
6. Someone who is not on disability for bipolar and does not have issues with drinking or drugs? If there’s a problem here, then the answers to 3, 4 and 5 are no.

Bottom line. I don’t have a study in my back pocket to prove it, but based on what I’ve learned I would say 50% or more of those who have bipolar disorder meet the criteria of that list and therefore meet the criteria for getting life insurance at reasonable rates.