I wouldn’t presume to beat a dead horse, but so seldom is there any significant shift in life insurance underwriting that it bears as much good press as it can stand. While life insurance companies have, for a long time, been fairly tolerant of mild situational depression, many companies are now taking a new look at what used to be a group of automatically declined mood disorders.
I have gone on and on about the results we are getting with well controlled bipolar disorder. Bipolar still leaves the majority of underwriters running, screaming into the dark. Then there is a group of companies that has taken pause to look at the whole issue from a new direction. What if this person really is a functional, stable member of society? What if they really have a track record of compliance with treatment and what if they haven’t been in and out of the hospital? What is the real risk?
Anxiety disorders and long term depression are getting the same fresh look from these companies. By the way, these companies are some surprising new upstarts that are going out on a limb. This is the same group of companies that have led for years in underwriting difficult issues such as diabetes, epilepsy, heart disease, etc. They are on the cutting edge of prudent, fair underwriting. They are the companies that are making a difference in groups of people that have been shunned for a long time.
Bottom line. Spread the word. Fair rates are available for the less than perfect insurance risk. You and I may not get the rates we see splashed on TV, but in most cases we shouldn’t be looking a decline letter either.