Bipolar Disorder = No Life Insurance?

Defective and rejected is how I feel after learning I was denied life insurance due to my bipolar disorder. When I first got this information today, I was confused because as far as I knew, I was perfectly healthy. I wracked my brain for reasons they could deny me- maybe my psychiatrist hadn’t given enough information, maybe the insurance company looked at old records, maybe it was a technical error. I then reviewed my current situation- I haven’t had a bad episode since last year, I haven’t been suicidal in a year, I’m on a good medication regimen, I go to work, I’m in a healthy relationship. What gives? I decided to do a little research about bipolar disorder and life insurance and this whole denial thing. What I learned is this isn’t uncommon. What I think is it’s certainly unfair.

According to insure.com, there are several factors insurers look at when it comes to bipolar disorder. Two main things are control and compliance. They said that acquiring and maintaining treatment are essential. Another key factor is what type of bipolar you have. There is a heightened risk associated with bipolar I, compared to bipolar II, and it falls outside most insurers’ comfort zones. The reasoning- because people who suffer from it have a higher suicide rate. Insurers have to go by statistics when it comes to suicidal tendencies. Because I wanted to know exactly why I was declined coverage, I called to see what they could tell me. Apparently according to the report, having bipolar disorder puts me in a higher risk category, as well as the specific medications that I am taking. The agent suggested weaning off of meds, and if I could be off of them for two years, they could reinstate my application. Obviously, I know this is counterproductive so I did not consider it for a second. Instead, I tried not to feel too discouraged, and I am looking into the alternative accident insurance policies instead.

Has anyone else had this experience?

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