It takes enormous strength to even talk about having a mental health problem like bipolar disorder. Many people that have a history of self-harm and have been declined for life cover in the past. Aiming to provide the best possible bipolar life insurance policy for you –Insurers will achieve this by hearing out to your story, which helps them to comprehend your requirements. This will allow them to find the best-suited insurance policy and protection area.
The facts related to Life Insurance with a Bipolar disorder:
When applying for life insurance with bipolar disorder, insurance providers will often request a medical report from your doctor to have a better understanding of your bipolar diagnosis. This will help them gauge the severity of your bipolar disorder, in addition to your symptoms such as mood swings and suicidal attempts etc.
If your bipolar disorder is well controlled, there are chances that your application is accepted under standard terms. However premiums are likely to be increased, in case your disorder is severe, where previous suicidal attempts, drugs/alcohol abuse and frequent symptoms have been seen, your application can also be rejected.
Things your insurers would be keen to know about:
- When were you diagnosed?
- Type of bipolar disorder you have; type1, type2, mixed or cyclothymic?
- Do you take any medication?
- Have you ever tried to self-harm or attempt suicide?
- Have you visited a counsellor or psychiatrist?
- Have you been hospitalized due to your condition?
- Has the condition caused you to take any time off work?
Your answers to the questions will determine the cost and terms of your policy, in case of any severity or recent flare-ups in your condition your policy premiums may be increased accordingly. In addition to the above loading strategies, your insurance providers may include exclusions to your policy. And these exclusions related to your bipolar diagnosis–which may be excluded from your policy. Calculating the amount of cover required is difficult without understanding your individual needs and bipolar diagnosis. However, if you are applying for bipolar life insurance the severity of your symptoms, along with budget will be taken into consideration to make your estimation.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00