Applying for life insurance is one of those things in life where you really have some control over what it feels like, how long it takes and how it ends. It is, in that respect, somewhat the polar opposite of applying for a passport. My memory of that was that once the application was done, I truly felt at the mercy of the process.
The application process for life insurance actually starts before the application. The first thing a person has to decide who they will use as an agent. This can range from a fairly easy decision if you count yourself among the young and healthy of the world, to a decision that really takes some homework and careful consideration if you have, or have had any serious medical issues. The more serious end of things is known as impaired risk life insurance or impaired risk underwriting in the industry and it doesn’t mean that you aren’t insurable or won’t be able to get affordable life insurance rates, but rather that you should take some care to pick the right agent who will use the right company for your impairment.
The internet has made this part of the process easier. My recommendation in finding the right agent, a person who truly understands your impairment and how to squeeze the best possible results from it, is to do a search starting with where you are in the process. If you type in Bipolar life insurance you will of course get several million responses in .63 seconds. My first advice is to thrown out those who advertise at the top and on the side. They bought the position in the hopes that you would look no further. Save some time and don’t look at all. They paid big money to show up on top for Bipolar life insurance and if you click on them you will find out there is a huge difference between knowing something about how life insurance underwriters view bipolar, and paying for the key words.
Look for a link below the paid ads that actually addresses the issue of how to tackle the life insurance application process if you are bipolar. It will be easy to find. If the link takes you to a description or diagnosis of bipolar disorder it’s not going to help. You already know that stuff. If you find a link to someone who understands that information and how to use it to your success, you’re in the right place.
Having found the agent, make sure you honestly and openly share everything with them, including those hard to share bits such as manic or depressive episodes, and suicidal thoughts and how those events impacted your life. If your agent doesn’t ask about these things, you found the wrong one. Your first talk with an agent should be a frank discussion from both ends.
Bottom line. Now that you’ve got the right agent the next step is the shopping and quoting process. Especially for those who fit into impaired risk categories, this is where you find out how good your agent is. If you have any questions or are getting the sense that your agent is not getting the job done right, call or email me directly . My name is Ed Hinerman. Let’s talk.