Attention Deficit Hyperactivity Disorder (ADHD) is a medical condition that can complicate a life insurance application because it can vary significantly from one individual to the next and cannot be physically measured. Therefore, a diagnosis of ADHD alone is not sufficient for an insurance company to determine whether an applicant can qualify for a traditional life insurance policy.

As a result…

The application process for individuals with ADHD may require more work. It may benefit from being submitted to specific insurance companies that are more lenient in approving applicants with ADHD. With this in mind, we want to address some of the most common questions we receive from clients looking to purchase a term or whole life insurance policy. These questions will cover topics such as:

• qualification for life insurance after being diagnosed with ADHD,
• why do insurance companies care about this diagnosis,
• the information insurance companies will request or be interested in,
• the rate or price an applicant may qualify for,
• and how to ensure the best life insurance policy at the best cost.

Before we get started…

We want to take a moment and acknowledge that Attention Deficit Hyperactivity Disorder (ADHD) and Attention Deficit Disorder (ADD) are not the same medical condition. However, in the “eyes” of the life insurance industry, these two separate medical conditions will essentially be viewed and treated as the same.

For this reason, we here at IBUSA have chosen to combine our discussion of these two different diseases within the same article and will use the terms ADHD and ADD interchangeably.

Can I qualify for life insurance after I’ve been diagnosed with Hyperactivity Disorder (ADHD) and/or Attention Deficit Disorder (ADD)?

It is possible to qualify for life insurance after being diagnosed with Hyperactivity Disorder (ADHD) or Attention Deficit Disorder (ADD). Still, the terms of the policy and the premiums you will be required to pay may be affected by your condition. Terms that will be determined by the insurer and the specific details of your situation, including the severity of your condition, your age, and any other underlying health conditions you may have.

So…

When applying for life insurance with a pre-existing condition like ADHD or ADD, it is essential to be honest and forthcoming about your medical history. Many insurers will ask for medical records and other information about your condition as part of the application process.

It is worth noting that life insurance policies for individuals with pre-existing conditions may have exclusions or limitations on coverage, and the premiums may be higher than those for individuals without pre-existing conditions. It’s also extremely important to carefully review the terms of any policy before you agree to it to ensure that you understand any exclusions or limitations that you are uncomfortable with.

Why do life insurance companies care if I’ve been diagnosed with Hyperactivity Disorder (ADHD)?

Life insurance companies assess and manage risk, and when they issue a policy, they agree to pay out a benefit to the beneficiary upon the insured person’s death. Premiums cover the costs of administering the policy and building a reserve to pay out claims. When evaluating an applicant, companies consider factors such as age, gender, health, pre-existing medical conditions, and risk factors, including a diagnosis of Attention Deficit Hyperactivity Disorder (ADHD) or Attention Deficit Disorder (ADD).

These conditions may…

Affect decision-making and health management, and the severity, presence of underlying health conditions, and overall health are considered to determine the likelihood of death during the policy term and set premiums accordingly. Also, if an insurer believes that an applicant with ADHD or ADD is at an increased risk of death, they may charge higher premiums or decline coverage altogether. This may seem unfair, but symptoms of these conditions can include hyperactivity, aggression, impulsivity, difficulty focusing, forgetfulness, anxiety, and depression, which can lead to dangerous outcomes if not managed properly. Some people with ADHD or ADD may still be eligible for a Preferred rate, while those with more severe issues may receive a standard rate class or lower.

It’s also why we see that most (if not all) of the best life insurance companies will spend a bit more time focusing on “lifestyle” choices when approving an application submitted by someone who has been diagnosed with ADHD or ADD.

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

When you apply for life insurance and disclose that you have been diagnosed with ADD, the insurer may ask for detailed information about your medical history and current condition. This may include:

• The specifics of your diagnosis, including when it was made and by whom
• The severity of your condition and any symptoms you are experiencing
• Any treatment or management strategies you are using, such as medications or therapy
• The results of any medical exams or tests that you have undergone, such as blood work or imaging studies
• Information about your diet and lifestyle, including whether you smoke and your level of physical activity
• Any other underlying medical conditions or risk factors that may be relevant

The specific information an insurer will request will depend on the policy and the insurer’s requirements. Some insurers may ask for additional details or require you to undergo a medical exam as part of the application process. Other questions that may seem unrelated to your condition but may be closer scrutinized than a typical life insurance application may include:

• Are you taking any other prescription medications?
• Have any of your prescription medications changed within the past 12 months?
• In the past two years, have you been hospitalized for any reason?
• Do you have any history of drug or alcohol abuse?
• Have you ever been convicted of a felony or a misdemeanor?
• Do you have any issues with your driving record? Issues such as multiple moving violations, a DUI, or a suspended license?
• Do you currently participate or plan on participating in any dangerous hobbies or activities?
• Do you plan to travel outside the United States within the next 12 months?
• Are you currently working now?
• In the past 12 months, have you applied for or received any form of disability benefits?

What Life Insurance Rate can I qualify for If I have ADD?

Life insurance rates are determined by various factors such as age, gender, health, and lifestyle. If you have been diagnosed with attention deficit disorder (ADD), it may affect your life insurance rates, but it doesn’t automatically disqualify you from getting coverage. You see, insurance companies assess several factors to determine rates, including your medical history, family medical history, and medications you are taking. If you are taking medication to manage your ADD, it may be taken into account when calculating your life insurance rates.

It’s important to note that life insurance rates vary significantly depending on the policy and insurer you choose. It’s advisable to shop around and obtain quotes from multiple insurers to find the best rate for your specific circumstances.

This is why determining the rate you might qualify for without direct consultation can be quite challenging. However, we can make some assumptions that generally hold true, especially if you:

• Have only been diagnosed with ADHD or ADD as a pre-existing condition
• Don’t have a history of substance abuse or criminal records
• Don’t participate in dangerous hobbies
• Have a clean driving record and a reasonably steady work history

For people like this, assuming they are otherwise eligible, it’s reasonable to assume they have a decent chance of qualifying for a Preferred rate if they choose the right insurance company.

Now for those…

Who aren’t as perfect, it’s essential not to give up hope. There’s still a good chance they may be eligible for a traditional term or whole life insurance policy, albeit at a Standard or “sub-standard” rate. They should be more selective in which company they choose to apply to.

The good news is that IBUSA has extensive experience helping people with pre-existing medical conditions find and qualify for the life insurance they need. It all comes down to giving us a call and allowing us to earn their trust. This brings us to the last topic that we wanted to take a moment and discuss, which is…

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

If you want to increase your chances of finding the best life insurance policy that you can qualify for, there are three key things that you should do.

First, work with a life insurance agent who understands your condition and what a life insurance underwriter will look for when evaluating your application.

Second, choosing an agent with access to a wide range of life insurance companies is important. Even the best agents won’t be able to help you if they don’t have access to policies or companies that are willing to work with individuals who have been diagnosed with ADHD or ADD.

Third, look for an agent who is good at explaining things. You want someone who can explain the different types of life insurance policies and help you understand which company might be the best fit for you. This includes important details such as the type of policy, how long it will remain in force, the price, and whether it will ever change. Additionally, your agent should be able to explain any additional features one policy may have over another.

It’s important to stress this last point because some people make the mistake of choosing the least expensive option without realizing that they may be missing out on important features that could be valuable in the future, even if the price difference is only a few pennies per day.

But don’t worry; if you give us a call, we’ll help guide you through the process and make sure you find the right policy for your needs.