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Buying Life Insurance While Taking Prozac

Prozac is a prescription medication that is used primarily for treating those who have been diagnosed with depression. It can also be used for the treatment of issues such as bulimia nervosa, as well as panic disorders, and obsessive compulsive disorders.

Affect on Application: Potentially significant – especially depending on the applicant’s overall health condition.

Best Possible Coverage Outcome: Standard or Preferred, depending on the applicant’s overall health condition.

Worst Possible Coverage Outcome: Table B or decline, depending on the applicant’s overall health condition.

Primary Determining Factor: When applying for life insurance coverage, the underwriters will look at a number of different factors when making a determination as to whether or not the applicant will qualify. When buying life insurance while taking Prozac, the primary determining factors will typically include the severity of the applicant’s depression, as well as whether or not the individual has been hospitalized for his or her condition.

Other factors will also likely include what type of medical professional prescribed the Prozac to the applicant. For example, was the medical professional a physician or a psychiatrist? In addition, is the applicant actively employed, or are they on disability.

Another key factor in whether or not the applicant will be approved for life insurance coverage is the insurance company itself. This is because, even though all insurers may use somewhat similar guidelines when reviewing applicants for coverage, the criteria that is reviewed is not identical. This means that one insurer could essentially accept an applicant as a Standard rating while another could decline them, or vice versa.

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When promoting advertisements for life insurance policies, insurers will oftentimes present rates that are for those who are in the very best of health. This is because these insureds are typically given the lowest premium rates.

Unfortunately, not everyone will be able to qualify for such low cost premiums. This could be for any number of reasons such as having an adverse health condition, or due to taking a prescription medication such as Prozac.

So, what if you are in such a situation where you need coverage in order to protect those that you love in case of the unexpected, but you don’t know if you will qualify? The good news is that you still have options – you just need to take an alternate approach.

Life Insurance Coverage for Those Who Take Prozac

Just like most other industries, life insurance carriers can be competitive in the way that they market their products. In doing so, carriers will often focus in on certain types of customer niches. This could actually work well for you – provided that you work with an agency that has access to more than just one insurer. That way, you will be able to “shop” many different insurance companies, policies, and premium rates in order to see which will work the best for your specific needs and budget.

Let’s take a look at an applicant who is buying a policy while taking Prozac. This medication is considered to be a selective serotonin reuptake inhibitor, or SSRI, antidepressant. It is used primarily in treating certain types of depression. However, it is also used in the treatment of eating disorders as well, along with panic and anxiety.

Because Prozac is used in treating so many different issues, insurance companies will need to carefully review an applicant who is taking this medication in order to better understand their exact health condition. Some of the questions that the applicant will likely be asked will include the following:

  • Has the dosage of the medication remained the same over time, or has it increased / decreased?
  • Has the applicant ever been hospitalized for his or her condition?
  • Does / has the applicant ever had suicidal tendencies?
  • Is the applicant currently receiving disability income?

How and Where to Buy a Policy

Buying life insurance while taking Prozac does not have to be a difficult endeavor. We can assist you in finding the right coverage and in applying for the policy that will best fit your needs. If you feel that you are ready to move forward with applying for a policy, we can help you with all of the following:

  • Finding the right type of coverage – term, whole life, or universal life
  • Determining how much coverage that you need in order to properly protect your loved ones
  • Finding the right carrier that can provide you with the best premium price for your specific budget

We work with many of the top life insurance carriers in the industry today – and we can assist you in obtaining all of the details that you need in order to make the best decision about the coverage that you require. When you’re ready to begin, fill out the form on the side of this page and hit submit, or please feel free to call us directly, toll-free, at 888-229-7522 to see how we can help.

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