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ADHD (Read 1286 times)

Miller Forum Newbies Offline QuickQuote Forum User Posts: 2	ADHD 02/25/08 at 13:29:14 I recently applied for life insurance and was asked to pay a higher premium because I have a history of ADHD. I am on medication and it is very well controlled. What does that have to do with life insurance! It seems unfair that I have to pay a higher price.
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RPatel98 Forum Newbies Offline QuickQuote Forum User Posts: 9	Re: ADHD Reply #1 - 03/07/08 at 11:39:53 ADHD generally requires medication. Any time medication is given there are risks involved. Also I presume ADHD may make you a greater risk for things like traffic accidents.
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Miller Forum Newbies Offline QuickQuote Forum User Posts: 2	Re: ADHD Reply #2 - 03/07/08 at 14:11:23 Should I talk to my doctor about going off the medicine? Would the insurance company then consider giving me a better rate? I do not have any side effects from the medication and I don't want to pay a high premium!
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HotMama39

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Re: ADHD
Reply #3 - 04/14/08 at 13:15:46

Miller wrote on 03/07/08 at 14:11:23:

Should I talk to my doctor about going off the medicine? Would the insurance company then consider giving me a better rate? I do not have any side effects from the medication and I don't want to pay a high premium!

I would not go off of a medication just to try to get a better rate from an insurance company. I doubt that the medication matters that much, it is probably just having the ADHD that is their main concern. They may be more concerned with an ADHD person who is NOT on medication.

I would do what you need to do to keep your condition under control. You shouldn't sacrifice your personal wellbeing.

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Hadley

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Re: ADHD
Reply #4 - 06/10/08 at 08:01:47

I agree, in some ways it seems unfair that you have to pay a higher premium for your life insurance.

However, the insurance company wants to make a profit, and when underwriting a risk for life insurance protection, they take all medical history and medications into consideration to reduce their risk of paying a claim, or at least to get the premium they feel they need in order to accept the risk.

There are some ways to lower your premiums though - compare rates before your next birthday, compare rates for annual and monthly premium payments, compare rates for term life versus whole life insurance.

Also, make sure to compare life insurance quotes from several insurers online before visiting your life insurance agent. That way you may be able to find a company that offers more competitive prices.

Learn about term life insurance by visiting www.term-life-online.com