For those who are currently having a difficult time getting approved for life insurance, you also may want to read the following articles which focus on difficult to place insurance policies: TermLife2Go’s All-Star Life Insurance Companies, Avoid the Needle! Best No Medical Life Insurance Companies as well as our Top 10 Final Expense and Burial Life Insurance companies.
Now we’ve got to be honest with you, Geodon, is one of those medications that an insurance company is certainly going to be worried about when they see it on your life insurance application.
This is because, Geodon is typically used to treat folks who have been diagnosed with either schizophrenia or manic symptoms associated with bipolar disorder.
Two conditions which make qualify for traditional life insurance difficult.
Geodon (ziprasidone) is an antipsychotic medication used to treat schizophrenia and manic symptoms of bipolar disorder in adults and children who are at least 10 years old. Geodon has been shown to reduce symptoms within these conditions which are described as the following:
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 disorder, 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 depressions. Approximately 4% of people suffer from this disorder with an equal prevalence between men and women.
How life insurance companies view each of these conditions:
When it comes time for folks who have been diagnosed with schizophrenia, we have found that most traditional life insurance options will not be possible.
For this reason, we will generally recommend what are called guaranteed issue life insurance policies and/or accidental death insurance policies for all of our schizophrenic clients.
Now for those who have been diagnosed with bipolar disorder, while it is “theoretically” possible to qualify for a traditional life insurance policy (and will definitely be something that we will consider), many times, they too will simply be turned down due to their pre-existing condition.
Factors that will come into play that will be used to determine your potential eligibility will include:
- Your age when first diagnosed.
- How long you’ve been treating your bipolar disorder.
- Who diagnosed your condition, a general practitioner or a psychiatrist?
- Have you ever been hospitalized for your condition?
- Do you have any history of drug or alcohol abuse?
- Are you currently taking any other prescription medications to treat your disorder?
- How often do you see your primary care physician?
- Do you have an issue with your driving record such as a suspended license, multiple speeding tickets or DUI?
- Are you currently working?
- How long have you been with your employer or in your line of work?
- In the past 12 months have you applied for or received any form of disability benefits?
Now as you can see, the questions that you will be asked will focus on quite a few topics which is why it can often be difficult to qualify for a traditional life insurance policy once you’ve been diagnosed with bipolar disorder.
Now this does not mean that it’s impossible…
It just means that you really need to choose to work with an insurance brokerage like TermLife2Go that is going to literally have dozens of different life insurance companies to choose from when it comes time to finding you a great life insurance policy.
It’s quite possible that you may need to apply with several life insurance companies before you find that “ONE” that is willing to take you on as a “risk” and provide you with the life insurance coverage that you both need and want!
So what are you waiting for? Give us a call today and see what we can do for you!
One last thing that we would like to suggest to anyone who is serious considering applying for a life insurance policy soon, and that is… visit our Life Insurance Quotes page where you’ll be able to instantly compare life insurance quotes from companies. On this page, you’ll find that we’ve separated the quote engines so that you can compare rates from policies that will require a medical exam and those that won’t!
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.