Life Insurance with ADHD.
Attention Deficit Hyperactivity Disorder or ADHD is one of those “types” of medical conditions that can complicate one’s life insurance application mainly because ADHD can vary significantly from one individual to the next and isn’t physically measured.
This means that…
If you have been diagnosed with ADHD, your diagnosis alone isn’t going to provide enough information to an insurance company for them to know whether or not you will be able to qualify for a traditional life insurance policy.
As a result…
Your application will likely require more work and will likely benefit from only being submitted to certain insurance companies that tend to be a little bit more “lenient” when it comes to approving those who have been diagnosed with ADHD.
For this reason…
We wanted to take a moment and cover some of the most common questions we get from our clients with ADHD who are looking to purchase a life insurance policy so that they can better prepare themselves for what the process will likely look like and how they improve their chances of qualifying for the best life insurance policy for themselves at the best price!
Questions that will be addressed will include:
- Can I qualify for life insurance after I’ve been diagnosed with Hyperactivity Disorder (ADHD) and/or Attention Deficit Disorder (ADD)?
- Why do life insurance companies care if I’ve been diagnosed with Hyperactivity Disorder (ADHD) and/or Attention Deficit Disorder (ADD)?
- 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?
Before we get started…
We’d like to take a moment and acknowledge that Attention Deficit Hyperactivity Disorder (ADHD) and Attention Deficit Disorder (ADD) are not the same medical condition. That said, 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 term 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)?
Yes, individuals often are able to qualify for a traditional term or whole life insurance policy after they have been diagnosed with either ADHD or ADD. In fact, they may even be able to qualify for a No Medical Exam Life Insurance Policy at a Preferred rate!
The problem is…
That even though neither of these pre-existing medical conditions would be considered necessarily “life-threatening”, they do have a tendency to interfere with one’s “normal” daily routine and can sometimes cause problems for individuals concentrating at school or at work.
As a result, what we sometimes find when working with an individual who has been diagnosed with either ADHD or ADD is that it’s not their…
that makes it difficult for them to qualify for a particular life insurance policy.
Rather it’s usually some kind of “lifestyle” choice that they have made or participate in which may become the main issue of contention with an underwriter of life insurance.
Why do life insurance companies care if I’ve been diagnosed with Hyperactivity Disorder (ADHD)?
Probably the best way to understand why a life insurance company is going to “care” if an individual has been diagnosed with ADHD or ADD is to first understand that a life insurance companies main goal in underwriting a life insurance policy is to determine and minimize risk.
Which is why…
It makes sense that a life insurance company is going to be interested in a pre-existing medical condition like ADHD or ADD where the symptoms of the disorder usually include:
- Excitability or Hyperactivity,
- Lack of restraint,
- Difficulty focusing,
- And sometimes depression combined with difficult learning.
And while none of these symptoms are necessarily life-threatening, it’s not hard to see how they could increase the likelihood of someone getting into a bit of trouble if not treated.
And this is exactly…
Sme people looking for life insurance with ADHD or ADD will potentially be eligible for a Preferred rate, while those who have more severe issues will 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 that has been diagnosed with ADHD or ADD.
What kind of information will the insurance companies ask me or be interested in regarding my ADD?
Common questions you’ll likely be asked may include:
- When were you first diagnosed with Attention Deficit Hyperactivity Disorder (ADHD) or Attention Deficit Disorder (ADD)?
- Who diagnosed your ADHD or ADD? A general practitioner or a specialist?
- What treatment options are you using to treat your ADHD or ADD?
- What medications (if any) have you been prescribed to treat you ADHD or ADD?
- Are you taking any other prescription medications?
- Have any of your prescription medications changed in any way within the past 12 months?
- In the past 2 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 on traveling outside of 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?
Now at this point…
It’s probably a good idea to remind folks that while we here at IBUSA may seem like we know a lot about a particular medical condition, we are by no means medical professionals!
All we are is a bunch of life insurance agents who are passionate about helping folks qualify for life insurance, particularly if they have been diagnosed with some type of pre-existing medical condition, which could make it more difficult for them.
If you feel like you may need medical assistance or you find yourself trying to “self-diagnosis” yourself by using some of the information that you find on our website, please do yourself a favor and good seek out REAL medical advice.
As for those…
Who are just looking for help finding and qualifying for a traditional life insurance policy, the good news is you’re definitely at the right place!
What Life Insurance Rate can I qualify for If I have ADD?
There are a lot of factors that can come into play when determining what kind of life insurance rates you might be able to qualify for.
Plus, how a life insurance company is going to respond to how you answer some of these questions is going to vary significantly from one insurance company to another!
This is why…
It’s near impossible to know what kind of “rate” that you might be able to qualify for without actually speaking with you directly.
That said, there are some “assumptions” that we can make that will generally hold true particularly if you’re someone who:
- Hasn’t been diagnosed with any other pre-existing medical conditions other than ADHD or ADD,
- Doesn’t have a history of substance abuse or a criminal record,
- And doesn’t like to participate in any dangerous hobbies,
- Combined with a clean driving record and a “reasonably” steady work history.
For folks like this…
It’s reasonable to assume that if you choose to apply with the “right” life insurance company, you should have a decent chance at qualifying for a Preferred rate, assuming that you would otherwise be eligible.
Now as for those…
Who may not be so “perfect”, it’s important not to give up all hope because there is still a pretty good chance that you too may be eligible for a traditional term or whole life insurance policy.
Only now, you’ll probably have to settle for a Standard or “sub-standard” rate and you’ll definitely want to be more selective in which company you choose to apply with.
The good news is…
That here at IBUSA, we have tons of experience helping folks with all sorts of pre-existing medical conditions find and qualify for the life insurance they’re looking for.
It all just comes down to you, giving us a call, and giving us an opportunity to earn your trust.
This brings us to the last topic that we wanted to take a moment and discuss which is…
What can I do to help ensure that I get the “best life insurance” for me?
There are basically three things that you can do to make sure that you increase your chances of being able to find the best life insurance policy that you can qualify for.
The first thing…
that you can do is make sure that you choose to work with a life insurance agent that fully understands your condition and knows what a life insurance underwriter will be looking for when making their decision about your application.
The second thing…
That you’re going to want to do is make sure that the agent that you choose to work with has access to dozens of different life insurance companies.
After all, even the best life insurance agent in the country isn’t going to be all that great for you if he or she doesn’t have access to the policies or companies that are going to be the most “lenient” towards individuals who have been diagnosed with ADHD or ADD… right?
You want to make sure that you choose a life insurance agent that is really good at explaining things.
And by explaining things we mean that you want to make sure that your life insurance agent not only explains the “type” of life insurance options that will be available to you but also why one life insurance company might be better for you than another.
This will include explaining things like:
- What type of life insurance policy you may be considering.
- How long the policy will stay in force.
- What will the price be, and
- will that price ever change?
As well as…
“What additional features does one policy may have that another one won’t”.
The reason why…
We like to stress this point is because you would be amazed at how often folks simply choose the least expensive option not realizing that they are missing out on a lot of additional “features” that could become quite important to them later on.
This is particularly disheartening when the price difference may only be a few pennies a day!
But don’t fret…
Because now you know, and should you decide to give us a call, you’re not going to have anything to worry about!