Finding the best term life insurance for Attention Deficit Disorder (ADD) and Attention Deficit Hyper Disorder (ADHD) all comes down to YOUR unique situation. Life insurance rates with ADD will be different for everyone.
In this quick article, we’ll go over what you need to know to get the best life insurance rates with ADD.
Life Insurance Underwriting With ADD
First, let’s go over what a life insurance underwriter and your agent will need to know about your Attention Deficit Disorder:
- When were you diagnosed?
- Are you on disability?
- Any hospitalizations or suicide attempts?
- Any recreational drug use in the past?
- Any other health, mental or mood disorders?
- What medications are you taking?
Common medications include for ADD include: Adderall, Aventyl, Pamelor, Ritalin, Strattera, Tofranil, Welbutrin and Zyban. All of these medications for ADD are insurable.
If a life insurance agent doesn’t ask you these questions, they are taking a shot in the dark at your rates. This information is important in securing you the best life insurance rates available. Having or not having health issues will determine if you are eligible for preferred life insurance rates.
Life Insurance Quotes With ADD
People with ADD tend to be inattentive and easily distracted – none of which will effect your life insurance rates. It’s the problems associated with ADD like alcoholism, drug use, depression and extreme risk taking where rates become very high and even uninsurable.
Life insurance quotes will be determined by the answers to the questions above. However, to get an idea of the rates yourself, here are the general underwriting guidelines:
Preferred Plus: Mild ADD with no other health, mental or mood disorders. No hospitalizations or drug use either. You must be working (not on disability). Mild medications are okay.
Preferred: This is the best health class possible for homemakers or those who don’t work. Same mild ADD stipulations as listed for preferred plus.
Standard: Mild to Moderate ADD. No hospitalizations or drug use in your past. Mild-Moderate medications are okay. Mild depression medications along with ADD medicatons are ok with some life insurance companies, but not all.
Table Rating (substandard): Moderate to Severe ADD. This will likely be noted in your medical records. This includes strong ADD medications or signs of lacking stability.
Declines: Recent Hospitalizations or uncontrolled ADD, drug use, alcoholism.
If you can put yourself in the Preferred Plus to Standard health classifications, you can run instant quotes without providing any contact information here: Instant Life Insurance Quotes
Our Life Insurance Advice with ADD
Getting approved for life insurance with Attention Deficit Disorder usually isn’t a problem. However every life insurance company will view your ADD differently. Take this recent case study as an example:
Case Study: Male, 44 y/o, non-smoker, well controlled ADD on Adderall. No health issues.
Our client received Standard offers other life insurance agencies before working with us - which may seem fair to most consumers. We were able to obtain Preferred Plus rates with a well drafted cover letter to the underwriter explaining his healthy lifestyle habits and stable work history. Something not asked in the application or noted in his medical records.
Case Study #2: Female, 36 y/o, non-smoker, takes Ritalin (ADD) and Lexapro (depression). No other health issues
While most companies would give Standard and even Sub-Standard rates, we were able to obtain a “Preferred” health classification with one company. This life insurance company conducts a phone interview for those with depression – something no other life insurance company does. After the phone interview, they decided to offer Preferred rates. By far, the best rates on the market for her risk.
As you can see, the agent you choose to represent you and the life insurance company you use has a big impact on your life insurance rates. Our advice is to use an agent experienced in underwriting ADD.
If you’re in the market for life insurance and have and form of ADHD, including ADD, please call us for quotes or fill out our quote request form on the right. We’ll use our expertise to find the best rates on the market for you.