For those who are currently taking Abilify and are having a difficult time getting approved for high risk life insurance, you may want to read the following article which focuses on difficult to place insurance policies: Top 10 Best Final Expense Insurance companies
When life insurance companies create commercials and advertisements, they like to promote rates for clients that are in excellent condition in their 30’s and 40’s. They’ll usually quote a 10 year term policy mainly because these rates are really good at getting people’s attention.
Ever heard the commercial?
“John, a 42 year old man in good health can get a $500,000 term policy from a highly rated insurance company for less than $25.00 a month”
Which is true, but what if you’re not in great shape? What if you have some preexisting conditions? What if you are currently taking some prescription medications? What do you do then? This is when qualifying for a traditional term or whole life insurance life insurance policy goes from “processing an order” to “needing an expert”.
The good news is that the life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. These niches may vary but generally insurance carriers do become known within the industry to focus on certain market populations. For this reason, it’s key for you as a consumer to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different carriers out there. Only by doing this can you ensure that you are getting the best policy for you and your family.
For example, let’s look at folks that are currently shopping for life insurance while taking Abilify (Aripiprazole). Abilify is commonly used to treat schizophrenia, bipolar disease and some autism cases by reducing typical symptoms associated with each. These disorders are defined as:
Schizophrenia: is a mental disorder characterized by a breakdown of thought processes and by a deficit of typical emotional responses. Common symptoms include auditory hallucinations, paranoid or bizarre delusions, and/or disorganized speech and thinking. It is often accompanied by significant social and occupational dysfunction.
Bipolar disease: also known as bipolar affective disorder, manic–depressive disorder, or manic depression, is a mental illness classified by psychiatrists as a mood disorder. Individuals with bipolar disorder experience episodes of a frenzied mood known as mania alternating with episodes of depression. Approximately 4% of people suffer from this disorder with an equal prevalence between men and women.
Autism disease: is a disorder of neural development characterized by impaired social interaction and verbal and non-verbal communication. Patients may also exhibit restricted or repetitive behavior that typically manifests itself prior to the age of three. Autism affects the way information is processed in the brain by altering how nerve cells and their synapses connect, how this occurs is still largely unknown.
One thing that all three of these conditions share, and is something that those suffering from can agree upon, is that many variations of these conditions exist from one patient to the next. Unfortunately, most insurance applications will require a prescription database check, at which point many insurance carriers, upon seeing Abilify, will simply refuse to offer coverage to most clients applying for life insurance.
For this reason, it is essential to look at companies that will when applying for life insurance while taking Abilify. At this point most clients state…
“I have no problem taking a medical exam, I’m in perfect health and my….(schizophrenia, bipolar disease, or autism) isn’t going to kill me”
And in truth they’re right, none of these conditions are life threatening , however it is important to understand that life insurance companies look at many factors in determining who they will insure, and unfortunately most have simply made the economic decision to not offer coverage to folks with these conditions
Totally confused?…. Don’t be, this is where TermLife2Go steps in. As an independent agency our agents are committed only to you and your family. Our sole purpose here is to help guide you through the process of:
- First, choosing the right type of policy, whether it be a Term Life Insurance policy, a Whole Life Insurance policy, or a Universal Life etc..
- Second, determining the appropriate coverage amount.
- And lastly, determining which carrier will most likely give you the best rates available.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process. He or she will then provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
So what are you waiting for? Just give us a call and see just what we can do for you!
To receive a life insurance quote from all from all of the final expense life insurance companies that we offer, you may also be interested in visiting our Final Expense Life Insurance Quotes page.
Because we’ve been doing this awhile here at TermLife2Go, we know that a lot of times when you suffer from a condition that requires you to need to take Abilify, you may not be able to work full time and you may not have a ton of discretionary income, especially if you’re currently receiving SSI disability.
This is why…
We’ve chosen also to write an article The Best Money Making Apps to help those who may not be able to actually go to work every day find ways that they can make money from home, on their own time.
Now will you end up using this money to help finance a life insurance policy?
Who knows, but our ultimate goal here at TermLife2Go is to help improve the financial security of our clients so it is our hope that this article and our Best Money Making Apps article helps you do this.