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Buying life insurance while taking Adderall XR
Typically, what we find is that when folks arrive at our article on qualifying for a traditional term or whole life insurance policy while taking Adderall XR, its usually because they’ve nervous about whether or not the condition that they have, (that has warranted an Adderall XR prescription), is going to affect their chances at getting approved for life insurance.
The good news is that typically, Adderall XR, is generally prescribed for treating conditions that are not major concerns for life insurance companies.
In fact, you’re most commonly going to see Adderall XR prescribed for treating attention deficit hyperactivity disorder (ADHD) and narcolepsy ( a sudden and uncontrollable attack of drowsiness and sleepiness).
Now, since neither or these conditions are life threatening, insurance companies are going to focus more on how these conditions have affected the applicant’s overall lifestyle then the actual diagnosis by itself.
Meaning, that if your attention deficit hyperactivity disorder (ADHD) or narcolepsy haven’t really been a major hindrance to you, it probably won’t be an issue for you on your life insurance application. However, if your condition has caused significant distress, you may encounter problems.
Common questions that an insurance underwriter may ask regarding your pre-existing condition:
- At what age was the applicant first diagnosed with their condition?
- How long have they been using Adderall XR?
- How successful is it at treating their condition?
- Is the applicant currently working?
- How long has the applicant been with his/her current employer?
- If the applicant is not working, why aren’t they?
- Stay a home spouse.
- Self employed.
- Is the applicant currently receiving any type of disability benefits?
Now as we can see, these questions don’t really ask much about the actual condition being treated, rather they ask about how well the applicant is coping with his or her condition.
Which brings us to…
Why it’s so important to first work with an agent who is very familiar with conditions that are treated by Adderall XR, and who also has the flexibility and freedom to “pick and choose” from dozens of different life insurance companies.
By having the freedom to pick and choose from dozens of different life insurance your agent will be able to focus on which insurance carrier will be the most lenient with regards to your condition.
Because Adderall XR can be used to treat such a spectrum of medical conditions:
Attention deficit hyperactivity disorder (ADHD), is defined as a problem of not being able to focus, being overactive, and not being able to control one’s own behavior or, a combination of these problems. To be diagnosed as attention deficit hyperactivity disorder (ADHD) one must have these symptoms and be out of the normal range for a person’s age and development.
Narcolepsy, defined as a chronic neurological disorder caused by the brain’s inability to regulate sleep-wake cycles normally. Narcoleptic’s, typically have altered REM cycles and will often experience cataplexy, a sudden muscular weakness brought on by strong emotions. Narcolepsy is not caused by mental illness or psychological problems. Narcolepsy is believed to be caused by a number of genetic mutations and abnormalities that affect specific biological factors in the brain, combined by environmental triggers during the brain’s development.
Understanding the condition being treated as well as being familiar with the underwriting guidelines of dozens of highly rated life insurance companies is exactly what you’re going to need, as an applicant, to not only get approved the first time, but also to get that great deal you’re looking for!
Don’t be this is what we’re here for!
Our goal here at TermLife2Go is to make the buying experience as easy as possible and make sure that all of your questions are answered prior to even thinking about applying for life insurance!
So what are you waiting for? Just give us a call and see just what we can do for you!
Lastly, for those who would like to get an idea about how much their life insurance might cost before speaking with an agent, we would recommend that they check out our Life Insurance Rates page when you have a few moments to spare.
And since we still have your attention...
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.
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