Trying to find the best life insurance rates for ADD and ADHD can be somewhat difficult. Those who have been diagnosed with either Attention Deficit Disorder (ADD) or Attention Deficit Hyper Disorder (ADHD) may need to do a bit more research, as oftentimes insurance companies will automatically rate policies as Substandard – but this isn’t necessarily always the case, so it definitely pays to look around.
When doing applying for coverage, the insurance company’s underwriters will want to know a variety of things before coming up with the exact amount of premium rate on your policy. Once they have done so, your policy will be put into a certain class of coverage.
What the Life Insurance Underwriters Will Want to Know
When seeking the best life insurance rates for ADD and ADHD applicants, the life insurance underwriters will want to know more in depth information on your condition. This will help them in determining how much of a risk you will be in terms of filing a potential claim in the future.
Just some of the potential questions that you will be asked regarding your condition will likely include the following:
- When were you initially diagnosed with ADD / ADHD? When you were initially diagnosed will make a difference to the life insurance underwriters. This is because they will want to ensure that you are properly managing your condition.
- Are you currently on disability? The underwriters will also want to know if you are capable of working or if you are on disability.
- Have you currently or in the past had any hospitalizations or suicide attempts due to your condition? Any hospitalizations, and / or any suicide attempts due to your condition will make you a higher risk for life insurance coverage.
- Have you had any recreational drug or alcohol usage in the past? Any type of recreational drug or alcohol usage in the past will also make you a higher risk in the eyes of the underwriters for life insurance coverage.
- Do you possess any other health, mental, or mood related disorders? The underwriters will want to know if, in addition to ADD / ADHD, you have any additional health or mental disorders, as this could intensify your condition.
- What, if any, medications are you taking for your condition? The medications that you are taking, if any, for your ADD / ADHD could either be a positive or a negative, depending on what they are. This is because certain types of medication could do damage to bodily organs such as the kidneys or heart. If, however, you are taking other types of maintenance medication and it is helping you to monitor and better control your condition, this could be seen as a positive in the eyes of the life insurance underwriters – and in turn, could help you to obtain a better rate on your insurance coverage. Some common medications that are used in treating ADD / ADHD include Wellbutrin, Adderal, Tofranil, Aventyl, Strattera, Ritalin, and Pamelor. All of these medications are considered to be insurable.
What the Life Insurance Underwriters Need to Know Before Determining Your Rate
For those who have ADD or ADHD and who are seeking life insurance, different carriers will have different methods and techniques for how they rate your policy. This is based in large part on how much of a risk they anticipate you being in terms of potentially filing a claim.
The variables that are used in making their determination will typically include the following:
- Your current age
- Your gender
- Your weight, as it relates to your height
- Your occupation and income, as well as whether you are considered to work in an occupation that is risky or dangerous
- Your marital status, and whether or not you have children
- Your overall health, including your health history
- Your family’s health history
- Your lifestyle and hobbies, including whether you participate in hobbies that are considered to be dangerous such as sky diving or rock climbing
- The amount of foreign travel that you do
- The amount of – if any – other life insurance that you already have in force (or the amount of other life insurance, individual or group, that you are currently applying for)
- Your alcohol usage
- Your use of tobacco
Typically, you will be required to take a medical examination as a part of the overall application process. This generally entails meeting with a paramedical professional who will take your blood pressure and your heart rate reading. You will also be required to submit a blood and urine sample, which will be analyzed for certain types of health conditions that could pose potential health related risks to the insurance company.
You will also be required to submit a health questionnaire. Through this questionnaire you will be asked numerous questions regarding your health, both past and present, as well as questions about any medications that you are taking (including the dosages).
Once all of your information has been received and reviewed, the life insurance underwriters will be able to make a determination regarding your policy, as well as how much to charge in premium.
How to Obtain the Best Life Insurance Rates with ADD and ADHD
When seeking out the best life insurance rates for ADD and ADHD, it is typically best to do some comparison shopping before purchasing a policy. In order to do so, you should always work with a company that has access to numerous life insurance carriers. This way, you can quickly and easily obtain information regarding policy benefits and premium quotes from one place.
We can help you in narrowing down the best life insurance policy for your needs, along with the best premium rates for your budget. This is because we have access to many of the top rated life insurance companies in the marketplace today – and we know which carriers are more likely to work with those who have ADD and ADHD. This can help in saving you countless hours throughout the application and underwriting process. In order to get started in finding the best policy and rate for you, simply use the form on this page
We also understand that you may have many questions when trying to find the best life insurance rates for ADD and ADHD. That is why we are available to help you via our toll-free phone line. Should you need answers to any question or concern about obtaining life insurance coverage, finding premium quotes, or even about life insurance in general, we’re here to help. Please feel free to give us a call, toll-free, at 888-229-7522.