Here in the Rockies we have avalanches and then we have these small chunks of snow that break loose and roll down slopes forming pinwheel looking things. Some of them look kind of like a cinnamon roll.
Well, that was a weird way to start to say that our efforts and results for getting affordable life insurance for those with bipolar disorder are beginning to snowball. A few successes has turned into referrals and a lot of traffic to our blog and website and the more cases we work on the more interest we are getting from companies and the more interest we get from them the more affordable the rates become. Hey. It’s a good thing going on.
The bulk of our clients seem to have two things in common. First is a bad experience, usually a decline, in attempting to get life insurance and being crammed into a pigeon hole marked bipolar. Second is unfortunately finding an agent who either isn’t familiar with bipolar disorder and so doesn’t ask, or an agent who knows a little about bipolar and is afraid to ask the tough questions. I know most people would prefer to be asked good questions up front and told what their real chances are than not be asked questions and given false hope or fed to the wrong company. Experience is what we bring to the table.
So, what’s it take? What is that an underwriter wants to see to consider someone with bipolar disorder at standard or better rates? How do you stay out of the pigeon hole? The following is a list developed over the last two years that has a lot of approvals attached to it for people who had been declined, sometimes several times previously.
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? There seems to be more favorable rates given to those who are on anti seizure medication vs anti psychotic medication and single medications vs multiple.
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. There are an amazingly large number of those with bipolar disorder who fit this criteria, so, while we can’t help everyone, we can help many of those who have heard horror stories and are afraid to apply or have been the leading character in one of the horror stories.