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Citizen
Picture of Mike5050
Posted
Hello All,

I was wondering if anyone knew if insurance companies frown on people using prescription drugs when applying for life insurance. Can someone be denied if they feel a person is not healthy because of their prescriptions? One of mine is Adderall, and I’m nervous they might not like that. This is my first time applying and I declared everything (They are going to see my medical records anyway, must as well list them all). My wife and I are having our first child (we are in week 25, and can’t wait!!!), and I want to do the right thing and protect my new family.

Can anyone share any experiences with this process? I gave them my doctor’s names for the records, and had someone to come over to my house to draw blood and urine. Should I be worried due to my medication that I'm on?

I'm sure if approved, my premiums will be huge!

Can anyone share any experiences, recommendations, or any comments/thoughts they may have? I don't want to mess up anything.

Thanks


"At a distance of 2.6 pc or 8.6 light years away from Earth, Sirius is the largest star in the night-time sky"

Mike
 
Posts: 44 | Registered: September 07, 2007 Reply With QuoteEdit or Delete MessageReport This Post
Chargé d’ affaires ad interim

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I take antidepressants and blood pressure meds. The ins. co. had to look at my records from the doctor but I had no problem. We even have long term care ins. Doctors are usually pretty careful in the way they word things to ins. company's.
Hope this helps
BBG





Try a simple act of kindness!
 
Posts: 1590 | Registered: October 03, 2006 Reply With QuoteEdit or Delete MessageReport This Post
Moderator
Ambassador Extraordinary and Plenipotentiary
Picture of ~David~
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I think Mike is mostly concerned about his Adderall, this is a schedule 2 controlled med. Why not just call the insurance Co. tell them your Diagnosis and see if it is covered?
It isn't a physical ailment that is going to lead to any hospitalizations or surgery...I get my Adderall free from Mental health. You probably don't qualify, but Adderall XR has a grant program that qualifies some folks to get it free. (Must meet income criteria) Oh, and you know they will not cover any prexisting medical problems...

This message has been edited. Last edited by: ~David~,






"The early bird catches the worm"...only proves that the worm should have stayed at home and in bed!
 
Posts: 5451 | Registered: January 05, 2005 Reply With QuoteEdit or Delete MessageReport This Post
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I think they mostly look for something that will lead to an early untimely death. If you take care of yourself ie annual physicals etc that is all they really look for. That and the family history. Cancers heart attacks strokes and the like. My husbands father had heart problems and his mother had Alzheimer and he is insured for 1 million. Ohh lucky me. Kidding. I don’t really think you have too much to worry about Mike.
And good luck on the new arrival. Babies are so sweet and special. Enjoy every moment with them.
BBG

Ps Honesty is always the best policy!





Try a simple act of kindness!
 
Posts: 1590 | Registered: October 03, 2006 Reply With QuoteEdit or Delete MessageReport This Post
First Secretary
Picture of Mojotokin
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I agree with bb, think they are more concerned with things like Heart Disease, Cancers, etc..
Probably interested in things running in the family. This is totally IMO, so who knows but I think you would fine.
Congrats on your first child, how exciting. Its so great that your being a responsible dad. Again, congrats to you and your wife.
If your really concerned, I'd recommend giving them a call like Dave advised.
All my best,
Mojo


"I ain't no saint, but I believe in what is right, Amen!"...Kid Rock
 
Posts: 313 | Registered: August 03, 2005 Reply With QuoteEdit or Delete MessageReport This Post
Civilian Assistant Attaché
Picture of Darian537
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In my younger years I went thru this process, I was denied due to info on credit report. I had absolutely no credit, used to the max and didn't pay CC's,that'll keep you from getting it. My credit score is in the upper 20% of americans and is about as good as it can get now, after 10 years maybe 7 the CC's wipe the slate clean. In the US your credit score is more important than health but tell them everything,may be cost prohibitive to get now, most states have SHIP for children health insurance. Best way to get life insurance is thru employer, that and health insurance should be considered first before taking any job. Hopefully this won't be true much longer, we’ll find out next Jan '09,whomever is sworn in and what promises they plan on keeping.

Darian537
 
Posts: 186 | Registered: September 09, 2007 Reply With QuoteEdit or Delete MessageReport This Post
Citizen
Picture of Mike5050
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Thanks everyone for all your input, great ideas and wonderful feedback. I'll let eberyone know what happens next. They are still in the process of gathering my medical records from a couple of doctors, er, so that should take some time.

I'm sorry Darian that you were denied to bad credit, that wasn't something I even though was a factor. I'm so new to life insurance. I should haven't gotten it when I was 10 lol jk.

Anyway, thanks everyone....and thanks Mojo for the congrats on new child, we've been trying for so long, and now finally the time came come. Smiler

I'll keep everyone posted on the ins final outcome.


"At a distance of 2.6 pc or 8.6 light years away from Earth, Sirius is the largest star in the night-time sky"

Mike
 
Posts: 44 | Registered: September 07, 2007 Reply With QuoteEdit or Delete MessageReport This Post
Senior Secretary

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I sell life insurance and I can tell you what our company looks at for Underwriting.

Heart, diabetes, and cancer are not eligible until you have a 5 year clean slate. Medical conditions that require medicine for maintenance are generally not a problem.

Hint for next time: I always "suggest" that the client leave the medical information blank. We pull medical records much like the DMV and use them for underwriting. If you list doctors, we are required (by law) to write to each doctor and verify your information. These letters usually get put on the corner of a desk to be dealt with "when the Doc gets around to it". So, your application is delayed and you take a chance that because of a "wrong" word, your condition might cause denial of the policy.
 
Posts: 969 | Registered: July 09, 2007 Reply With QuoteEdit or Delete MessageReport This Post
Minister
Picture of Smarty
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GREAT information Manny thanks. Now if I ever go out and get some personally (I now have it offered thru work) that I know what not to do.

Congratulations on your new baby. You are going to have to let us know when you are a father.
 
Posts: 2212 | Registered: March 15, 2007 Reply With QuoteEdit or Delete MessageReport This Post
Counselor
Picture of Ms. Mag
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Mike, I don't have any advice to offer but wanted to express a very special congratulations on the new addition to your family. Babies are a wonderful gift from God...

This message has been edited. Last edited by: Ms. Mag,
 
Posts: 1101 | Registered: September 24, 2007 Reply With QuoteEdit or Delete MessageReport This Post
Chargé d’ affaires ad interim

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Hope your mind is at ease. don't worry too much about the life insurance. Most companies just want your money. How is your wife doing? I know the tail end of pregnancy can get a little rough. I don't mean in a bad way just the anticipation of waiting when it is so close. Soon enough you will be holding that new bundle of joy in your arms. There is nothing like it in this world! Pure joy. Pamper that wife of yours. Big Grin





Try a simple act of kindness!
 
Posts: 1590 | Registered: October 03, 2006 Reply With QuoteEdit or Delete MessageReport This Post
Senior Secretary

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Mike, congratulations! When is the baby due?

After 28 years as an agent, when I see the word "insurance" my mind just goes into work mode and I missed the very important news in your post Wink.
 
Posts: 969 | Registered: July 09, 2007 Reply With QuoteEdit or Delete MessageReport This Post
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