If you have ADHD, your diagnosis may impact your life insurance rates. But if you work with an independent life insurance broker, you have better odds of getting an affordable policy.
In this article, we explain the relationship between ADHD and life insurance, how you can get it, and what to expect when you apply.
Where to Apply for Life Insurance If You Have ADHD
If you’re looking to buy life insurance, your options may seem overwhelming. You can apply directly with an insurance company through a captive agent or use an independent agent or broker.
If you have a pre-existing health condition, like ADHD, working with a broker is your best bet for getting the best possible price. A broker isn’t employed by nor a representative of any specific insurer and, therefore, can shop around to find the best coverage for you.
» Compare: Term life insurance quotes for ADHD
Buying Life Insurance with ADHD
ADHD is a common medical condition. Our agents have had a lot of success in helping clients with ADHD get life insurance coverage.
Did you know that some insurance companies are strict with ADHD diagnoses? Since Quotacy is an independent broker, your agent can shop around to help find you coverage so you can financially protect your loved ones.
We want you to get approved and will work hard to help you get coverage. Start the process by getting a free term life insurance quote or keep reading for more in-depth information about life insurance and ADHD.
How Life Insurance Companies View ADHD
With ADHD, severity can be diagnosed as mild, moderate, or severe, and symptoms affect each person in varying degrees. Insurance companies will pay close attention to the severity and the medications you take. Individuals with mild, well-controlled cases may even qualify for preferred rates.
Don’t let an ADHD diagnosis prevent you from applying. Many people with ADHD are accepted for life insurance coverage.
Quotacy is here to dig through the different life insurance companies to help you find affordable term life insurance rates that keep you and your family covered.
See what you’d pay for life insurance
Life Insurance Underwriting and ADHD
The approval and risk class of an applicant with ADHD is determined during the underwriting process. Your risk class ultimately dictates the cost of your policy. And whether your ADHD diagnosis is mild, moderate, or severe plays a big part.
| ADHD Severity in Children | |
|---|---|
| Category | Description |
| Mild | Children who fit in the primarily inattentive ADHD subtype, with normal IQ (> 70), only minor behavior difficulties, little aggression, no diagnosis of oppositional defiant disorder (ODD) or conduct disorder (CD), and treated with no more than one medication. |
| Moderate | Children within the hyperactive and impulsive subtypes, normal IQ (>70), with one or more of the following: learning disabilities, behavior difficulties and/or aggression including oppositional defiant disorder (ODD), and use of up to 2 medications. |
| Severe | Children who meet the criteria for moderate ADHD with additionally one or more of the following: significant aggression or violence, conduct disorder (CD), personality disorder, or alcohol or substance misuse. |
| ADHD Severity in Children | |
|---|---|
| Category | Description |
| Mild | Children who fit in the primarily inattentive ADHD subtype, with normal IQ (> 70), only minor behavior difficulties, little aggression, no diagnosis of oppositional defiant disorder (ODD) or conduct disorder (CD), and treated with no more than one medication. |
| Moderate | Children within the hyperactive and impulsive subtypes, normal IQ (>70), with one or more of the following: learning disabilities, behavior difficulties and/or aggression including oppositional defiant disorder (ODD), and use of up to 2 medications. |
| Severe | Children who meet the criteria for moderate ADHD with additionally one or more of the following: significant aggression or violence, conduct disorder (CD), personality disorder, or alcohol or substance misuse. |
| ADHD Severity in Adults | |
|---|---|
| Category | Description |
| Mild | Adults with primary symptoms of inattentiveness, distractibility, restlessness and forgetfulness with little interference with daily functioning. |
| Moderate | Adults with many of these features: inattentiveness, restlessness, distinct short mood shifts, emotional over-reactivity, disorganization, impatience, co-morbid mild depression, marital instability, or difficulties with occupational performance. |
| Severe | Adults with motor hyperactivity and inattentiveness in addition to one or more of the following: explosive temper, relationship or work difficulties, impulse buying, motor vehicle accidents, alcohol or substance abuse, depression, conduct or personality disorder, or arrest history. |
| ADHD Severity in Adults | |
|---|---|
| Category | Description |
| Mild | Adults with primary symptoms of inattentiveness, distractibility, restlessness and forgetfulness with little interference with daily functioning. |
| Moderate | Adults with many of these features: inattentiveness, restlessness, distinct short mood shifts, emotional over-reactivity, disorganization, impatience, co-morbid mild depression, marital instability, or difficulties with occupational performance. |
| Severe | Adults with motor hyperactivity and inattentiveness in addition to one or more of the following: explosive temper, relationship or work difficulties, impulse buying, motor vehicle accidents, alcohol or substance abuse, depression, conduct or personality disorder, or arrest history. |
Because ADHD affects individuals quite differently, underwriters will not just make a snap decision based on the ADHD diagnosis alone. They will evaluate a number of factors.
These factors include:
- age at diagnosis
- extent and results of diagnostic evaluations
- predominant symptoms
- treatment
- names of drugs and dosages
- other mental or nervous disorders
- MVR (motor vehicle record)
- arrest history
- occupation and school/occupational performance
An ADHD diagnosis doesn’t mean you can’t get life insurance. In fact, many life insurance companies would be willing to approve healthy adult applicants with well-managed ADHD (and no history of depression) for a Standard or Preferred risk class. Shopping around to ensure you get Preferred, however, can save you money each month.
Consider the table below. This shows the difference in price for a $500,000 20-year term policy for a 35-year-old male depending on what risk class he’s assigned.
To be considered for a preferred rating, life insurance companies will typically want to see the following:
- the ADHD diagnosis is mild
- applicant is over the age of 30
- there are no other psychiatric diagnoses or personality disorders
- there is no history of alcohol or drug abuse nor adverse MVR information
- there is no history of hospitalization for ADHD or mood symptoms, attempted suicide, or missed work or school of greater than 1 week due to ADHD or mood symptoms
- there has been no treatment or medication for ADHD or mood symptoms in the last 5 years
Quotacy is an independent broker which means we work with many different top-rated life insurance companies. Not all life insurance companies underwrite the same way and some will be more lenient with ADHD than others.
If you apply through Quotacy and we see on your application you list that you have (or had) ADHD, we will let you know which carriers are more likely to give you a favorable rating and line up some options for you.
ADHD is one of the most common health issues we come across. Our agents are experienced in helping people with ADHD buy life insurance. Reach out to us at any time if you have any questions or start the process now by getting a free term life insurance quote.
Note: Life insurance quotes used in this article are accurate as of March 9, 2023. These are only estimates and your life insurance costs may be higher or lower.
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