According to Anxiety and Depression Association of America, anxiety disorders are the most common mental illness in the U.S., affecting 40 million adults in the United States age 18 and older, or 18% of the population.
This is why it’s not surprising that we get some many calls from perspective clients asking:
“Is my Lexapro prescription, going to have an effect on my life insurance application?”
Well will it?
The short answer is, probably.
But there’s a lot of other things that are going to come into play as well so let’s just take a moment to look at the “big picture”.
During at typical life insurance application, a client will have the opportunity to be able to qualify for up to 16 different rate classes. The best possible rate class someone can qualify for would be a Preferred Plus, and then from there it drops down to what would be called a “table rating”.
For those that are taking Lexapro…
It’s generally safe to say that they would not be eligible for a Preferred Plus rate, but then again neither would nearly 80% of the population.
You see, qualifying for a Preferred Plus rate is tough!
That even though you’ve been prescribed Lexapro, you still have a chance to qualify for 15 of the 16 remaining rate classes. Or put another way, you still have a chance at qualifying for a Preferred rate!
Lexapro (escitalopram) is an antidepressant belonging to a group of drugs called selective serotonin reuptake inhibitors that is used to treat anxiety and major depressive disorder. And because it’s used primarily to treat anxiety and major depressive disorders, insurance companies are going to want to learn more about what specifically your Lexapro is treating and the severity of your condition.
Questions you’ll likely encounter due to your Lexapro use.
Because Lexapro is an antidepressant that can be used to treat a wide range of conditions that can vary significantly in severity, insurance companies will want to get a better idea about your condition prior to offering any coverage. To learn more about your condition, insurance companies will likely ask:
- Why were your originally prescribed Lexapro?
- How old were you when you were originally diagnosed with your condition?
- Who made your diagnosis? A general practitioner or a psychiatrist?
- How long have you been taking Lexapro?
- Are you taking any additional prescription medications?
- Have you ever been hospitalized for your condition?
- Have you ever had suicidal thoughts or attempted suicide?
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
From here the insurance companies will generally have a pretty good idea about the type of life insurance that you’ll be eligible for as well as the rate class that you’ll most likely be eligible for.
Wait a second? I’m just using my Lexapro to “take the edge off”
For these folk, the idea of being hospitalized for their condition or going to a psychiatrist is total foreign.
These are the folks that will typically qualify for a Preferred rate. For them, their Lexapro is simply treating a mild case of anxiety or depression.
For folks who do regularly see a psychiatrist or have been hospitalized or are on disability due to their anxiety or depression, a careful examination of their condition as well as the possible review of their medical records may be necessary before we’ll know for sure what they can or can’t qualify for.
The important thing to understand is…
That we here at TermLife2Go are prepared to take on any challenge! You see, we’ve worked hard to establish relationships with dozens of highly rated life insurance companies so that when we do get confronted with one of those more “challenging” cases, we’ll have dozens of options to choose from so that hopefully regardless of how easy or difficult your case may be, we should have the right choice for you!
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!