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Life insurance with bipolar?


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I've been lurking for a while, but I'm stressed and no one seems to be able to answer my question, so who better to ask than others with Bipolar?

As some of you may know, bipolar is apparently the same as terminal illness when it comes to life insurance. I'm bipolar and my husband was misdiagnosed bipolar so it's on both of our records now. I've tried getting life insurance with what seems like a thousand companies to no avail. Has anyone managed to get a policy?? If something happens one of us will be stuck with a mortgage and a small child to care for. I'm about to just call it a day and buy some accidental death only policy, but those are pretty useless according to every website that isn't selling one. I have read articles that say if you show you hold down a job (same company for over three years for me) and are in a stable relationship (married three years, together four) that somehow some sympathetic underwriter will write a policy. I've even told the companies that decline me to put a permanent "suicide not included" rider. Still no. What the hell?? Just because I'm crazy doesn't mean I'm going to die tomorrow or before the policy was profitable for them.

Any help or guidance would be much appreciated!

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You need to work with an agent who works through a brokerage house where they can shop your case without a formal application so that you will not get a decline. You don't want a decline because that will be in your MIB records for ever. You need a highly competent and experienced life insurance agent. Not some newbie who just fell off the turnip truck. And they need to create a file and shop it with many carriers to try and obtain an offer for you.

It is all about your medical records. If your medical records show psychosis and suicide attempts then you may be uninsurable. If your records show that you are med compliant, do have not much self harm or psychosis then you have a chance. The WORSE thing you can do is apply online because you will have an automatic decline. You need professional help. I have obtained life insurance for bipolar clients.

The little policies that are guaranteed issue are very small and very expensive. If you are ever lucky enough to have employment with group life coverage than be sure, do NOT forget to ask the carrier for your conversion options when you leave the job. I was able to get some life insurance for myself that way.

Request your MIB consumer file

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I didn't even think about this but now I'm incredibly thankful my mother had the foresight to make me take out a policy before I got into the system. I asked her why, and she said "Oh, you just never know what kind of condition could pop up later in life."

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I didn't even think about this but now I'm incredibly thankful my mother had the foresight to make me take out a policy before I got into the system. I asked her why, and she said "Oh, you just never know what kind of condition could pop up later in life."

Your mother was very prudent. I hope all her advice to you was excellent. But that would make her perfect.

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I currently have life insurance, and we were told that we could be getting a much lower premium somewhere else. But I'm afraid that if I cancel this policy and apply for a new one I will be denied. I guess we could apply and THEN cancel the other... that's a scary thought though... and I didn't even think of the life insurance for kids thing that way. That's very smart. I just might do that for my kids, esp. the one who has mood issues already.

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Guest Kiraswhatever

I've actually worked in life insurance before so I have my MIB which lists mood disorder and suicide attempts. My medical records will list psychosis as well, but not my MIB. I have a few declines from insurance companies as well. The brokerage company I'm with doesn't do anything like you're talking about only single premium policies. I have the minimum I can get from work without evidence of insurability (not much). I have a whole life policy on my son (age two) in force already so if he gets my crazy he will at least have something.

I think I just have too many dings. I'm kinda med compliant (work in progress I guess) but my records should show that I am mostly med compliant. I have two hospitalizations under age 18 and a few er visits over 18. So I'm not "stable" per say, but I do get to work for the most part and do function decent given how severe I can get. Not to say there haven't been days I've missed because of bipolar, but never a month or anything.

I think bipolar 2 is easier to get coverage for than my type because of the pyscosis and hospital stays. *sigh*

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