After studying several forums and reviewing insurance websites over the weekend, it seems the tendency to bulk all bipolar into one package is well, just easier, than dealing with the individual cases. The bad news is that the package everyone is bulked into is the one full of bad news and bad rates for life insurance.
The good news lies somewhere outside of the mainstream of the life insurance business. Independent agents have access to rates that, given certain guidelines, are competitive with the best rates out there. The guidelines are very straightforward. Compliance with treatment, no hospitalization for the disorder and stability in life are essentially what it takes.
I hope to have some articles out soon and will continue to blog on this as it seems to be a real roadblock for folks with bipolar and a sticking point for the majority of the life insurance industry.
Bottom line. Given the criteria I referred to, people with well controlled bipolar 1 and 2, have reasonable opportunities at fair life insurance rates. Don’t get caught up or bogged down in what the majority of agents and companies would have you believe. There is good news out there.