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Life Insurance with Post Traumatic Stress Disorder (PTSD)

Researcher & Writer
September 17, 2013

The following article covers what a life insurance underwriter is looking for in a client with PTSD and the importance of choosing from among the most PTSD friendly top rated best life insurance companies. There are a lot of insurers out there but not all of them will approve a client who has PTSD.

 Let us start by saying to our veterans "Thank you for your service". Some of us at TermLife2Go served and we hold veterans in the utmost respect. The sacrifices you made for the United States and the citizens of the country are beyond honorable. Thank you, thank you, thank you.

Having said that, let us move on to the reason that you are here. To find life insurance if suffering from PTSD.

If you have been diagnosed with post traumatic stress disorder then you need to read this. Three important questions you need to ask are:

  1. Can I get life insurance with post traumatic stress disorder?
  2. What rate class can I qualify for if I have post traumatic stress disorder?
  3. What is the process?

Call Today 888-234-8376

Let’s begin with a brief overview

From the Department of Veteran Affairs:

“After a trauma or life-threatening event, it is common to have reactions such as upsetting memories of the event, increased jumpiness, or trouble sleeping. If these reactions do not go away or if they get worse, you may have Posttraumatic Stress Disorder (PTSD).”

Can I get life insurance?

The quick answer is, YES.

Ultimately, approval will depend on:

  • When you were first diagnosed,
  • if your condition is mild, moderate or severe,
  • what medication(s) you take,
  • how often you see your doctor,
  • if you see or have ever seen a psychiatrist,
  • if you have had electroshock therapy,
  • any thoughts of suicide, and
  • if you have ever been hospitalized due to PTSD.

How you answer the above questions would determine your eligibility for high risk life insurance.

What rate class can I qualify for with post traumatic stress disorder?

Life insurance companies have about 16 different rate classes. What rate class you qualify for will also determine your life insurance rates by age.

Typically, someone who has (a) mild PTSD, (b) who takes one medication, (c) with no history or hospitalization or (d) suicide attempts, will qualify for a standard rate class.

The more serious sufferers will qualify at a below standard rate class or table rate. depending on the company you go with, a table rate can increase your premium dramatically. However, certain companies have table rates that are about the same price as a standard rate class.

For people suffering from severe PTSD characterized by hospitalization, suicide attempt(s), and/or disability, a burial life insurance policy, with the top final expense and burial insurance companies, where there is no medical exam and no health questions, may be the best bet.

If you are curious what your price tag would be, simply enter your information and see what the price is for your age and gender based on the above rate class you believe you qualify for.

What is the process?

A guaranteed issue life insurance policy is quick and easy. It is guaranteed issue so everyone within the required age bracket will qualify for this coverage. Typically, the amount you can qualify for will be from $5,000-$30,000 depending on the carrier. Most come with a graded death benefit limitation which provides that the full death benefit will only be paid after the policy has been in force for two or more years.

A fully underwritten life insurance policy requires a life insurance medical exam (we recommend you take your exam as soon as possible in the morning to get the best blood pressure readings). The examiner typically comes to your home and checks your height and weight and takes a small blood and urine sample. Your lab results are then processed. The carrier will request physician statements and look into your medical records. The carrier will also do a prescription database check to see what medications you are currently taking and have taken in the past. An underwriter will then assess your “risk” level and give you a rate class assigned to your specific risk. Your assigned agent at TermLife2Go will then follow up with you and let you know of your approval.

The entire process is handled by us so you can just sit back and wait for the life insurance carrier to complete your file. Speaking of life insurance carriers, not all life insurance carriers are the same when it comes to underwriting post traumatic stress disorder!

Not all life insurance carriers are the same

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. It is important to know these niches and it is important the agency you chose has the freedom to choose from multiple life insurance carriers. As a consumer, it is in your best interest 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 companies available. We want to place you with the most PTSD friendly life insurance company. Only by doing this can you insure that you are getting the best types of life insurance policies tailored to your specific needs.

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We are a team of life insurance experts with the simple mission of helping you find the best coverage for your unique situation. We research, review, and rank life insurance companies to make that process easier.