Chemical imbalances and mood disorders are some of the most misunderstood, regularly occurring, medical conditions in the United States. This spreads even to the insurance companies where life insurance for people with bipolar disorder has such varying rates it is hard for people to understand why and what they are looking at when they get quotes. At InsureNow365 we specialize in bipolar life insurance and know you are looking for answers to how to get the best rates. With that in mind we put together this list of questions that we frequently receive. If you are in search of other types of insurance such as Veterans Life Insurance, smokers life insurance, or no medical exam life insurance, we have options for you as well. Continue reading to learn more about our reviews such as our Metlife Life Insurance Review.
Are Bipolar 1 and Bipolar 2 treated differently?
Sometimes. The problem with insurance companies and bipolar disorder life insurance is that some of them are completely ignorant to the details of the disorder. The encouraging news is that some companies have caught up with the information out there and know the difference between Bipolar 1 and Bipolar 2. Once you start working with one of those companies you will see a better indication of the real life insurance for bipolar rates that meet your needs.
What do insurance companies look for?
The insurance companies that know what they are doing are looking for indications that your bipolar disorder is under control. To get the best rates you need to know and improve the areas that they use to judge the rates you will be paying. The main indicators of controlled bipolar disorder the life insurance companies are targeting are:
- No Recent suicide attempts
- Medication(s) you are taking
- Compliance with your medication
- Stability (family, social life, etc.)
- Ongoing medical treatment
- Not on disability for Bipolar
Why are they so far behind on rating life insurance for bipolar People?
The truth is that life insurance companies will only change their underwriting practices slowly. The reason is if they make a mistake they can end up paying out a lot of money for those mistakes. We have seen similar reluctance to change their underwriting on people looking to get life insurance with epilepsy as well as a ton of other health conditions that are not really life threatening. So the only thing we can tell you is to be patient as the companies figure out how to properly underwrite on people looking to get life insurance with bipolar disorder.
Can I get low life insurance rates?
The quick answer is yes. If you have your bipolar disorder under control then you can get very competitive rates for bipolar life insurance. The key is working with an agent who actually knows how to navigate the different companies to make sure you are not getting classified incorrectly. At InsureNow365 we are adept at working with bipolar disorder life insurance policies and making sure the company is working with you. Since we are an independent agent we can work with any of the companies in your area and make sure that you are matched with a company who will rate life insurance for people with bipolar disorder properly. If you are ready to get started use the form on this page to get your quotes.