Life Insurance for Bipolar Client

[dgoldenz]

Yes, this is serious.

What I don't understand is why Bipolar is singled out. On all the applications I have seen to fill out, it specifically asks about Bipolar Disorder - but it does not ask if you have ever attempted suicide for any reason, it does not ask if you have Depression, Borderline Personality Disorder, Schizophrenia, or other disorders that have high suicide rates. Only Bipolar. Why is that? It's just not fair. People with depression commit suicide just as much as people with Bipolar, yet you still give them life insurance.

Suicide is not necessarily intentional. It is a complication of a disease - not a choice. When you get to that point, you are not thinking clearly. Your mind takes over. The illness takes over. It is not any different than a heart attack - only it's the brain that kills you, not the heart. You may view it as a choice, but that is not always the case.

Every application will ask about other mental and nervous disorders, which all of the things you just mentioned would fall into.....and most applications will usually ask if there are any other diseases or disorders diagnosed or treated that were not necessarily mentioned specifically in the medical questions. I'm not sure where you're getting your information from.

Just because you have bipolar disorder doesn't mean you'll be declined. We just got an offer back yesterday for a bipolar individual taking lithium and a couple other health issues for standard rates on his term insurance. When you combine bipolar with a history of multiple suicide attempts, that doesn't look very good from an insurance company's point of view. Would you insure someone for $1 million for under $1000 per year that has a history of suicide attempts, and within the past year no less?

 

[martina]

The applications I've filled out for group life insurance (yes I know it's different) NEVER asked about "mental disorders" - they ONLY asked about Bipolar. And no health exam was required so there would be no way of knowing if you had additional issues. This is for the group plans I was eligible for at my previous employers and through my husband's employer. They were all the same. All they listed was Bipolar.

Anyway....I'm probably out of luck, and I guess that's fine. I was hoping for around $250,000 of term life, 20-30 year term. Maybe $100,000. I was able to get on the $10,000 spouse policy from my husband's work without any health questions - so that will cover my funeral costs, but I need something to replace my income for a while and payoff the mortgage. I'm the main wage earner in the family, my husband just works at a grocery store. He will probably have to declare bankruptcy if I die without life insurance. We're struggling to get by now...I'm unemployed. If I don't find a job by about January, we're screwed. We just plain can not live on his income alone. At his level, we qualify for food stamps and WIC.

One last question - there are policies out there that don't ask any health questions, but they are normally geared for ages 50+ and a low payout amount, like less than $25,000. Do you think I should try to get maybe 5-10 different policies at those small amounts? Do you know the names of companies that offer those types of policies?

 

[scotty]

Try Assurity or American Amicable non med products. You should have no problem getting him through.

 

[Special Eddie]

I gave you the criteria for approval. It was developed through a lot of hard work with underwriters, clients and psychiatrists. Why would I develop a niche, be successful at it and then give every piece of it away. Thought I was being pretty generous.

How can I write 27 in one year? They come to me because I've proven I can get the job done.

And once again, disability is almost by definition a lack of stability. Underwriters aren't going to buy stable, well controlled, compliant on disability for bipolar.

 

[WinoBlues]

Your last post on this threat was this:>>I gave you the criteria and told you honestly what can be approved. Shop it or come up with something I don't know and I'll trade information with you.

Why are you bumping it. You already came across as an a$$hole. Are you coming back to prove it? Done!

I gave you the criteria for approval. It was developed through a lot of hard work with underwriters, clients and psychiatrists. Why would I develop a niche, be successful at it and then give every piece of it away. Thought I was being pretty generous.

How can I write 27 in one year? They come to me because I've proven I can get the job done.

And once again, disability is almost by definition a lack of stability. Underwriters aren't going to buy stable, well controlled, compliant on disability for bipolar.

 

[barbgwb]

I am looking for someone in Texas to help me get life insurance for my bipolar spouse. If you can help, please PM me. Thanks!

 

[WinoBlues]

I am looking for someone in Texas to help me get life insurance for my bipolar spouse. If you can help, please PM me. Thanks!

Hi, Post more detail and I am sure someone can give you some ideas.

How old is he?
smoker?
When was he diagnosed?
Is he working or on disability?
Hospitalizations?
Suicide attempts?
Meds?
Any other issues?

Approximately how much insurance are you looking for. Or what is the need such as Family income or burial?

 

[WinoBlues]

You sell insurance AND do exams?!?

No Thanks.

I live in Maryland and I may have an insurance company that probably will insure them. However, if the party is interested, I will have to get appointed in Kentucky in order to get them a policy.

Thanks

Saundra F. Scott, BSHA
443.712.4964 Main Number
- - - - - - - - - - - - - - - - - -
Yes, how much insurance are you looking for and how old is your spouse?

 

[Newby]

I'm in Kentucky and I definitely have a company that will give bi-polars a great rate and 1st day coverage for FE.

 

[jdeasy]

I'm in Kentucky and I definitely have a company that will give bi-polars a great rate and 1st day coverage for FE.

That's because we don't have polar bears in Ky. Not such a great product if you don't have anyone to sell it to.