It really should come as a HUGE surprise that if you’ve been prescribed Amphetamine regardless of “which” brand name you’re taking (Adzenys XR-ODT, Dyanavel XR, or Evekeo), the insurance companies are going to be a “bit” hesitant about immediately approving your term life insurance or whole life insurance application.
This is because…
Let’s face it, Amphetamine “abuse” is a real problem in today’s society, which is why insurance companies are going to want to make sure that you have a “legitimate” need for your prescription and that you do not show any “signs” of abusing your medication.
If you’re currently using amphetamines and don’t actually have a prescription for your “use”, you can pretty much assume that if “detected” you will be immediately denied coverage and if not, you do run the risk of having your policy become “voided” if you choose not to disclose your usage on the life insurance applicant itself!
That said however…
Amphetamines can be prescribed by doctors for a variety of conditions, and have been found to be very useful when not abused. This is why, we here at TermLife2Go always like to ask for additional information about “why” you’ve been prescribed amphetamine before we make any “rash” decisions about what you will and won’t be able to qualify for.
Amphetamine is a prescription medication that is used to help treat attention deficit hyperactivity ADHD as well as narcolepsy. The problem is that it is a central nervous system stimulant that affects brain chemicals that in turn contribute to hyperactivity and impulse control. They’ve also been linked to increasing one’s risk for:
- Heart attack,
- And “sudden” death in those suffering from high blood pressure, heart disease and/or those with congenital heart defects.
Then toss in the fact that…
Amphetamines also have a high risk for abuse, and it’s pretty easy to see why a life insurance company would be a bit “hesitant” about approving an individual for coverage.
Factors that could help your “Case”.
When it comes time to helping out an individual who has been prescribed amphetamine to treat either their ADHD or narcolepsy, there are a few things we like to see before we actually apply for a “traditional” term or whole life insurance policy.
Factors such as:
- Have you been taking your prescription for a long time? If yes, this could improve your chances.
- Has your prescription remained the same for a long time? If yes, this could improve your chances.
- Do you exhibit any “signs” of abuse?
From here, we’ll generally have a pretty good idea if you’ll be able to qualify for a traditional term or whole life insurance policy.
Now we don’t…
Want to “sugar coat” it. If you’ve been diagnosed with either ADHD or narcolepsy, qualifying for a traditional term or whole life insurance policy is going to be tough. Then add “amphetamines” to the mix and now you’re really making things difficult.
But that doesn’t mean…
That we’re not going to try our best to find an insurance company that will approve your application for coverage. It just means that before you “apply” you want to make sure that your agent: FIRST understands your condition, and SECOND has access to dozens of different life insurance companies so that he/she won’t have to rely on just one or two different companies underwriting departments.
Just as no two life insurance applicants are the same, neither are any two different life insurance companies. Which is why, it’s totally possible that you may have already been denied coverage due to your amphetamine prescription form one or two different life insurance companies and still be eligible for coverage if you choose to apply with the “right” company.
Now how will you know which insurance company is the “right” one?
That’s a tough question. One that we may not even know the answer to in the beginning. But what we’ve found to work pretty well is to “submit” you application to several different insurance companies and “see” what they think.
We don’t submit…
A “completed” application, we just submit a preliminary application to see what the underwriters “think” about your case. So, if this is something that you’d like for us to do for you, just give us a call or visit our Term Life Insurance Quote page and request a quote.
Now are we going to be able to help everyone?
No. There will be some people that we won’t be able to find coverage for. These folks may need to consider a guaranteed acceptance life insurance policy and even in those situations, they may not be able to qualify. But one thing that we can say for sure is that we’re going to try our best to make sure that we rule out all possibilities before we give us hope!
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.