In this article, we wanted to take a moment and try and answer some of the most common questions we get from folks applying for life insurance after they have been prescribed Lexapro or its generic form, Escitalopram, to treat their symptoms of Depression and anxiety.

Questions that will be directly addressed will include:

• Can I qualify for life insurance after I’ve been prescribed Lexapro?
• Why do life insurance companies care if I’ve been prescribed Lexapro?
• What kind of information will the insurance companies ask me or be interested in?
• What rate (or price) can I qualify for?
• How can I help ensure I get the “best life insurance”?

So, without further ado, let’s dive right in!

Can I qualify for life insurance after I’ve been prescribed Lexapro?

For the most part, you will find that if you have been prescribed Lexapro, you should still be considered eligible for a traditional term or whole life insurance policy. Heck, you may even be able to qualify for a Preferred rate! If this is true, it begs the question….

Why do life insurance companies care if I’ve been prescribed Lexapro?

Life insurance companies care that you’ve been prescribed Lexapro because Lexapro is used to help those who have been diagnosed with either Depression or some anxiety condition. Two medical conditions which can vary widely from one individual to the next. After all, according to the American Psychological Association, nearly 12.5% of the U.S. population over the age of 12 has taken an antidepressant medication like Lexapro within the past month!

The good news…

Is that the vast majority of these individuals are not suffering from debilitating mental illness; instead, they are simply using these “types” of medications to make life more comfortable for themselves. The hard part for the insurance companies is trying to determine what “kind” of pre-existing medical condition you suffer from and the severity of it!

What kind of information will the insurance companies ask me or be interested in?

Once it has been determined that you have been prescribed Lexapro in the past or that you are currently taking Lexapro now, what you’re going to find is that most (if not all) life insurance companies are going to want to ask you a series of questions that will look something like this:

• Why have you been prescribed Lexapro? Is it to treat symptoms of Depression? Anxiety? Or both?
• Who prescribed your Lexapro? A primary care physician or a psychiatrist?
• When were you first prescribed Lexapro?
• Are you taking other medications or participating in other treatment programs for your condition?
• Have you been given a specific diagnosis?
• In the past 12 months, has your Lexapro prescription changed at all?
• Have you ever been hospitalized for your condition?
• Do you have a history of drug or alcohol abuse?
• Are you currently working now?
• In the past 12 months, have you applied for or received any form of disability benefits?

What rate (or price) can I qualify for?

Once the insurance underwriters have the answers to these questions in hand, most underwriters (if not all) will have a pretty good idea what “kind” of life insurance policy you’ll be able to qualify for in addition to whether or not they will need to order medical records from your doctor before being able to proceed with the underwriting of your life insurance application.

Now, in most cases where an individual may simply be using their prescription for Lexapro to help treat “minor” cases of anxiety and/or Depression, what you will generally find is that most life insurance companies will not need to order your medical records and will be able to proceed with the application process based on what they “gleam” from your prescription medication history.

In cases like these…

You’ll generally find that these individuals should be able to qualify for a Standard or better rate and may even qualify for a Preferred rate, provided that they would otherwise be able to qualify for such a rate. Remember, there are a lot of factors that go into play when it comes time to determine what rate you may be able to qualify for, and while you may think that your depression or anxiety diagnosis is going to be the primary determinate for what you may or may not be able to qualify for, the primary determinant may be something different like your:

• Driving record,
• Family medical history,

Or even your occupation or travel plans!

For those who aren’t…

Necessarily suffering from a “mild” case of Depression or anxiety and do suffer from a more complex situation, there may still be hope that you can qualify for a traditional life insurance policy only now in cases like these, what you’re generally going to find is that most life insurance companies are going to want to have access to your medical records before moving forward with a decision. In cases like these, the applicant may have a history of:

• They are using multiple medications to treat their disorder.
• I was hospitalized in the past.
• Drug or alcohol abuse.
• Inability to hold down full-time employment.

These individuals may also have at the time applied for or received some disability benefit as a result of their condition, which is always a sign that their pre-existing medical condition was more severe than most.

The good news…

In cases like these, while they certainly are not going to qualify for a Preferred rate, there is still a chance that they may qualify for coverage at a Standard or Substandard rate. This isn’t all that bad, provided you focus your search on “which” life insurance companies are the most competitive in these approval categories. This brings us to our next segment, which is…

How can I help ensure I get the “best life insurance”?

The first thing that you can do to help make sure that you’re able to find the “best” life insurance policy that you can qualify for is to make sure that you’re working with a true life insurance professional who is working in an environment whereby they will be able to spend the time needed to make sure your needs are well taken care of (i.e., not a high-stress call center).

Second…

You will want to ensure that the agent you choose also has access to dozens of different life insurance companies so they don’t have to rely on the underwriting decisions of just one or two different companies.

Lastly, you’ll want to make sure that you’re completely honest with your life insurance agent right from the beginning so that they can have the most complete and accurate understanding of your current health status, which they can then use to try and determine “which” life insurance companies are going to provide you with the best opportunity for success!

So, what are you waiting for? Give IBUSA a call today and see what we can do for you!