All About Life Assurance

3 Responses to “Can A Person With Bipolar Disorder Get Life Insurance? If So, How?”

1. tmerion on February 10th, 2010 at 3:35 pm

   I have bipolar as well. I have life insurance through my work, we are able to get up to 170k without disclosing anything medical or having a physical. Do you or your husband have any similar plan through your work place? (I guess probably not since you’re asking the question).
   I have never heard of anyone being discriminated against with bipolar for life insurance. I will have to bring it up in the support forum I am a member of. I tried googling it, but came up empty.
   Have you tried emailing the various companies that advertise on the net and straight out asking them if they will cover you?

2. LifeInsu on February 11th, 2010 at 1:52 am

   It is possible to get coverage, but not always easy. Many companies will simply decline you, but there are others that specialize in underwriting matters such as bipolar.
   Here’s some insight on what companies look for when underwriting bipolar:
   Mild, Moderate, or Severe Bipolar:
   Mild – No suicide attempts, no lost time from work, symptoms controlled with medication.
   Moderate – No suicide attempts in last 2-3 years, no hospitalizations in past 2-3 years, minimal lost time from work.
   Severe – multiple suicide attempts, multiple hospitalizations, lost time from work, major tranquilizers in addition to lithium, unstable social environment.
   If you are severe, the only type of coverage available will be “guaranteed issue” type insurance from a company such as presidential life.
   Traditional coverage is available from companies for mild and moderate. As you look at rates on the internet, if you take the “standard” rates offered, underwriters will typically add 50 – 150% to the cost of the standard rate to determine your rate…and again this is only with companies that specialize in underwriting bipolar.

3. Jimmy on February 11th, 2010 at 5:23 am

   I don’t see any reason why someone who is bipolar wouldn’t be able to get life insurance. I mean, the only real reason would be that someone who is bipolar might be at a higher risk of suicide, but most life insurance plans don’t pay off if the death is ruled a suicide.

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