Mood disorders have varying degrees of control just like any physical disorder. If you are type 2 diabetic and have an A1c that stays in the mid 6’s because you tend to the business of monitoring and treating the disease, it’s considered well controlled by life insurance underwriters and is rewarded with better approved rates than if your A1c averaged 8.5. If you used to weigh 250 pounds and through grit, determination, diet and exercise you’re now down 5’11 and 190 pounds, that’s considered taking control of a situation by life insurance underwriters. Having positively affected your mortality risk, you can get approved for life insurance rates that are much lower than if you had remained at 250.
The same is true for mood disorders. I’ve learned to control my own anxiety without medication by simply avoiding the intersection of Highway 285 and C470 in Denver and also a roundabout as you leave Boston and head north. I don’t even remember the name of that one because my eyes were closed. I hide in small towns and life is good. But for some the cause of the anxiety has an ongoing presence and what life insurance underwriters want to see is that, even with medication, you are able to function and have a stability in your life that wouldn’t be there if anxiety or stress wasn’t well managed. With good impaired risk life insurance companies the minor mood disorders, anxiety, situational depression, ADD and ADHD and OCD can be underwritten and approved best rate class if it appears to be something of a non issue in your life. Even it it causes some issues and causes you to grit your teeth (like me in Denver), reasonable control and compliance with treatment can almost always bring better than standard rates. Does anxiety have a measurable life insurance mortality risk? Sure it does, but the good news is that for a lot of people, given the right agent using the right company, that risk may not be considered to be any higher than life itself.
So let’s take this chance to catch up on how life insurance is treating some of the not so minor mood disorders. This is an area where there always seems to be movement, some good and some that make us scratch our heads, but overall an area that is offering far better life insurance treatment than even five years ago for chronic depression, bipolar disorder and more severe cases of the minor mood disorders. The truth is that there is a severity level with any mood disorder where approving life insurance just doesn’t make sense, but it’s just as true that there are successful and stable people who have found a way to treat their depression or bipolar disorder and they lead normal, happy and thriving lives. We have bipolar life insurance clients who own or are the CEO of the company you work for, are your primary care doctor or dentist, or are your business attorney that you can always count on to be at the top of their game.
We’re able to get better than standard rates when we can present bipolar disorder and chronic depression life insurance cases that are just textbook for control and compliance. These are people that you could know intimately and never know there was anything out of balance in their lives. But there are still reasonable rates available for life insurance for those who have hit a few mood disorder bumps along the way. We’re able to get life insurance approvals frequently for people who have been declined for their mood disorder simply because the agent they used didn’t know what questions to ask and what companies to use. If you have questions or you’ve been treated unfairly in your attempts to get life insurance at reasonable rates with a mood disorder, call or email us. We can help.
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