Long-Term Care Insurance and Bipolar

by | Apr 6, 2019 | Health Conditions

Long-term care insurance and bipolar disorder may not seem like they go together. Shopping for a long-term care insurance policy can be confusing for anyone. Having bipolar disorder can make it more difficult to qualify for long-term care insurance. Getting long-term care insurance with bipolar disorder is possible if you work with an experienced long-term care insurance specialist that will help you shop for a policy and compare the underwriting criteria from several different insurance companies. 

Can I qualify for long-term care insurance if I have bipolar?

If you have bipolar you can probably qualify for long-term care coverage as long as your stable. Every insurance company has different criteria to determine who they can insure. It’s important to work with an experienced, independent agent who is familiar with the four main types of long-term care coverage. An independent, long-term care specialist can recommend the perfect policy for you based upon your history of bipolar disorder.

Which type of long-term care policy should I buy if I have bipolar?

There are four main types of long-term care coverage: traditional long-term care insurance, long-term care partnership programs, life insurance with long-term care riders, and annuities with long-term care riders. Which type is best for you will depend upon the specifics of your bipolar disorder. Everyone’s situation is unique. Click here to try our proprietary “Policy Finder” tool (no phone required). It will give you an instant ranking of the four types of policies based upon your answers to a few short questions.

Which type of policy is right for you?

No phone required.
Custom quote in 2 hours.
Instant ranking of the 4 types of long-term care coverage.

Will I pay more for long-term care insurance if I have bipolar?

Every long-term care insurance company is different. Some long-term care insurers may charge applicants 15% more for someone with bipolar disorder. Other insurers may charge applicants 50% more for someone with bipolar. That’s why it’s important to work with an experienced long-term care insurance professional who can help you shop around and compare several different policies. 

Can I qualify for long-term care insurance if I have a family history of bipolar?

Yes, you can qualify for long-term care insurance if you have a family history of bipolar disorder. Most long-term care insurance companies are not concerned when there’s a family history of bipolar disorder.

If I have bipolar will I have to take a physical in order to qualify for long-term care insurance?

Some long-term care insurers do not require a physical if you have bipolar. Most long-term care insurance companies will review your medical records in order to determine if they can insure you. Ask your long-term care insurance specialist what underwriting criteria each company will use before deciding which long-term care insurance policy is best for you.

Can I qualify for long-term care insurance if I’ve already applied for and been denied coverage due to bipolar?

Long-term care insurance specialists have less than 20% of their applicants declined. Insurance “generalists” have about 50% of their long-term care insurance applications declined. With over 25 years of experience, we can pinpoint exactly which company (and which type of policy) you’ll be able to qualify for. We have about an 80% success rate in helping our clients get approved even if they were previously declined for bipolar.

If you have bipolar, a long-term care insurance specialist will ask you the following questions to determine if you can qualify for a long-term care insurance policy and calculate your premium:

When were you first diagnosed with bipolar?

What prescriptions have you taken in the last year for bipolar?

Have you ever been hospitalized or required an emergency room visit due to bipolar? If so, when?

Have you ever attempted suicide? If so, how long ago?

Are you currently receiving any type of disability benefits?

Request a 15-minute phone call from an LTCi specialist. No obligation.

  • Date Format: MM slash DD slash YYYY
  • This field is for validation purposes and should be left unchanged.