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 Vyvanse or its generic form Lisdexamphetamine to treat attention deficit hyperactivity disorder (ADHD).
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Vyvanse?
- Why do life insurance companies care if I’ve been prescribed Vyvanse?
- What kind of information will the insurance companies ask me or be interested in?
- What rate (or price) can I qualify for?
- What can I do to help ensure that I get the “best life insurance” for me?
So, without further ado, let’s dive right in!
Can I qualify for life insurance after I’ve been prescribed Vyvanse?
Because Vyvanse is a prescription medication that is primarily used to help treat those suffering from ADHD, in our experiences here at IBUSA, what we have found is that most (if not all) life insurance companies aren’t necessarily going to “automatically” discriminate against someone from having been prescribed it in the past. Which then begs the question….
Why do life insurance companies care if I’ve been prescribed Vyvanse?
Even though life insurance companies aren’t going to necessarily discriminate against folks from having been prescribed Vyvanse in the past, they are going to be interested in:
- How severe your ADHD is?
And in just making sure that you don’t appear to be “abusing” your Vyvanse prescription. We say this because while it is true that Vyvanse is much less addictive than some of the other commonly prescribed ADHD medications, it still can become addictive over time which is why most (if not all) life insurance companies will want to learn a little bit more about your Vyvanse prescription and your ADHD before moving forward with your life insurance application.
What kind of information will the insurance companies ask me or be interested in?
To get a better idea about how “severe” your ADHD is and try to determine whether or not you may be at risk of abusing your Vyvanse it’s not all that uncommon for some insurance underwriters to ask questions such as:
- When were you first diagnosed with Attention Deficit Hyperactivity Disorder (ADHD)?
- Who diagnosed your ADHD? A general practitioner or a specialist?
- Is Vyvanse the only prescription medication that your using to treat your ADHD?
- How often do you take your Vyvanse?
- In the past 12 months, have any of your medications that you used to treat your ADHD changed in any way?
- Do you have any history of drug or alcohol abuse?
- Have you ever been convicted of any felonies or misdemeanors?
- Do you have any issues with your driver’s license? Issues such as: multiple moving violations, a DUI, or a suspended license?
- 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?
Now as we’ve previously stated, those who have been prescribed Vyvanse in the past should “theoretically” still be eligible for a Preferred rate. That said however, these same individuals would still need to meet all of the “additional” requirements needed in order to be able to “earn” that rate. The good news is that they wouldn’t “automatically” be disqualified simply because of their Vyvanse prescription.
The problem is…
That being able to qualify for a Preferred rate is going to be tough. It’s going to mean that you’re in excellent health and pretty much your ADHD isn’t affecting your life in any way. Which means that you should have:
- A steady prescription history,
- No felonies or misdemeanors,
- No previous drug or alcohol issues,
- No issues with your driving record,
And (when applicable) a steady work history.
For folks who may not be “perfect” in the eyes of the insurance company, you may still be able to qualify for a Standard or Normal rate as well as a “sub-standard” or “table rate” as well. The trick will be knowing which life insurance company is the most likely to provide you with the greatest opportunity for success.
Which brings us to the last topic that we wanted to discuss here in this article which is…
What can I do to help ensure that I get the “best life insurance” for me?
In our experience here at IBUSA, what we have found that works best for folks who have been diagnosed with a pre-existing medical condition where the “severity” of the condition is often “subjective” is for the applicant to make sure that they first find a true-life insurance profession who will work as an advocate for you.
Such an agent…
Will not only help guide you through the application process but also be perfectly “frank” with you about what options may or may not be possible for you.
You’ll also want to make sure that the very same agent you have chosen has access to dozens of different life insurance companies because after all, it really doesn’t matter how “great” of a life insurance agent you might have if they don’t have access to the “best” life insurance policy for you! Now does it?
You’ll want to make sure that you’re completely honest with your life insurance agent prior to applying for coverage. By doing so, you will be helping him or her narrow down what options might be the “best”
So, what are you waiting for? Give us a call today and see what we can do for you!