The life insurance company will probably ask some basic questions about your condition which may include the following:
1. How long have you been bipolar?
2. When were you diagnosed?
3. Do you have a history of bipolar disorder in your family?
4. What medication are you taking and how often?
5. Have you injured yourself or others in the past as a result of your disorder?
6. How often do you have episodes of manic or depressive feelings?
7. When was your last manic/depressive episode?
In addition, the insurance company will have you take a physical exam, blood and urine testing, and review your medical records to determine the full extent of your disorder.
After reviewing the necessary information the insurance company will make a determination if they can insure you.
Some insurers may decline you immediately, while others may consider offering a small amount of life insurance, or apply certain exclusions to the life insurance policy.
In addition, any life insurance coverage offered will cost a lot more than for someone who does not have bipolar disorder.
There are some insurers that specialize in insuring high risk people. Whether you are a high risk due to smoking, being overweight, having a chronic illness, or a physical or mental disorder, some insurers may still provide a type of guaranteed issue plan.
Graded benefit life insurance policies offer a small amount of life insurance at high rates, and full coverage does not take effect until you have been insured for at least two years. In addition, suicide is excluded the first two years you are insured (one year in some states).
Here's how you can learn more about high risk life insurance to find out if you may qualify for life insurance coverage with bipolar disorder.