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Life Insurance with ADHD

https://www.goodfinancialcents.com/wp-content/uploads/2019/07/MG_5503-150x150.jpg
  • Written By:
    Jeff Rose, CFP®

    Jeff Rose, CFP®

    Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance...

    Read More
  • Updated: January 31, 2023
  • 5 Min Read
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There are a number of characteristics that come with having ADHD including inattentiveness, fidgeting, and typically issues with organization. These are the traits associated with ADHD that do not cause a rise in insurance rates.

On the other hand, those with more severe cases of ADHD that have issues tied to more serious problems such as drug abuse, alcoholism, depression, risky patterns of behavior, and overall addictive personalities.

It is patterns of behavior such as these that lead to much higher insurance premiums.

What is ADHD?

Attention Deficit Hyperactivity Disorder, or ADHD, is a mental health disorder that affects people of all ages. According to the CDC over 6 Million children have been diagnosed with ADHD.

It is characterized by difficulty focusing, impulsivity, and hyperactivity which can have a significant impact on daily life. Common symptoms associated with ADHD include inattention, short attention span, inability to complete tasks on time, disorganization, and restlessness.

ComponentDescription Of ADHD
DefinitionA neurodevelopmental disorder characterized by inattention, hyperactivity, and impulsiveness.
SymptomsInattention (e.g., difficulty focusing on tasks, forgetfulness), hyperactivity (e.g., excessive fidgeting, restlessness), impulsiveness (e.g., acting without thinking, interrupting others)
DiagnosisMade by a healthcare professional based on a comprehensive evaluation including a thorough medical history, physical examination, and psychological testing.
CausesThe exact cause of ADHD is not known, but it is thought to involve a combination of genetic, environmental, and neurological factors.
TreatmentMay include medication, therapy, lifestyle changes (e.g., exercise, healthy diet), and support from family and friends.

The exact cause of ADHD is still unknown but it is believed to be related to genetic and environmental factors. Treatment for ADHD typically includes a combination of medications and behavioral therapy.

Does ADHD Affect Getting Approved for Life Insurance?

The good news for those with ADHD is that affordable insurance companies usually don’t consider it to be a medical underwriting problem unless it can be in some way tied to an external condition. In the case that a person is suffering from a mild case of ADD and does not suffer from another sort of disorder, they will usually have no issue obtaining insurance.

The main goal of a medical underwriter is to determine whether or not a person with ADHD is susceptible to other unhealthy habits or tendencies that would be considered a risk to the insurance company.

The spokesperson for Metlife recently said that people who have ADHD can potentially receive the “best insurance rating“. Additionally, he stated that if there is some external factor outside of the person’s control, they can still qualify for a standard rating. The cost of this plan is about 100 percent higher than a normal plan so it is not ideal.

Other factors such as addictions or criminal records in addition to having ADHD would usually disqualify a person from receiving any type of insurance. With this being said it is important to know all of your options going in as well as have a qualified insurance agent who will be able to locate the best possible plan.

Life Insurance Ratings with ADHD

The following bullets outline the general qualifications that people fall under in order to receive different types of life insurance.

  • Preferred Plus: Sufferers of ADD are definitely capable of receiving a preferred plus status and it is not necessarily a rare occurrence. Someone with ADHD can qualify for this status is they suffer from mild ADD and show no other signs of mental or mood disorders. Medical underwriters also like to verify that there have been no previous hospitalizations nor drug or alcohol abuse.
  • Preferred: Anyone who qualifies for preferred plus also qualifies under this status. It is meant for those who are not employed usually.
  • Standard: Most likely applied to mild to moderate sufferers of the illness. As is the case with preferred plus, there must be no history of hospitalization nor drug use. It is usually the case that people falling under this category are users of some form of ADD medication. Some insurance companies even allow the use of mild depression medications.
  • Substandard: This is saved for those with moderate to severe cases of ADHD. This is usually determined by a close examination of medical records. Stronger medications used for ADHD are typically associated with some under this status.
  • Declines: Anyone who has been recently hospitalized or is otherwise suffering from addiction would be declined life insurance.

What if You Get Denied for Coverage?

All is not lost if a person with ADHD is either denied insurance or offered it at a steep premium though. Medical underwriters want to see that a person has their illness managed, the length in term of the illness is really a non-factor.

Those who partake in at least a year’s worth of treatment or have otherwise gotten their problems under control with medication can reapply for insurance at that time.

Extensive research has allowed for ADHD to be treated so this is a very viable option for anyone in this particular case.

Time is of the essence when treating any condition and it is certainly no different with ADD. The earlier it is detected, the more time a person has to learn the best methods for treatment and management. This is especially important in adulthood when it comes time to obtain a life insurance policy as it will end up saving you thousands.

Four and a half million people were diagnosed with ADHD in 2020 and since then, the diagnosis rate has been consistently climbing at 3% per year. Of these yearly diagnoses, 60% will still have ADHD into adulthood.

How Much Life Insurance do you need?

Before you start calling companies or looking at options, you need to do some basic groundwork. Do the math to figure out how much insurance your spouse and children need.

To start, gather all of your bills and major debts and combine them. Whatever the number is, this is your starting block. Make sure your life insurance plan is larger than this number.

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The next thing you’ll need to multiply your annual income by 7 to 10. Not only will your family get your debts, but they will no longer have your salary to pay off those debts. Make sure your life insurance can replace your paychecks for several years.

Are you trying to get life insurance with ADHD? Give us a call, we can make it quicker and easier than trying to do it alone.

Bottom Line – ADHD Term Life Insurance

With these facts under consideration, it is important to know all of the information when it comes to getting insurance. Time is the most valuable tool when it comes to treating ADHD. Learning how to treat and manage ADHD is the end goal when trying to obtain affordable life insurance.

You can help yourself get the lowest insurance rates for you and your family’s protection. One of the first ways you can do that is by making some healthy lifestyle changes to improve your overall health.

The medical exam is how the insurance company determines your health and then your premiums. The better your health is during the exam, the better premiums they will grant you.

If you’re dedicated to getting those lower premiums, you’re going to have to make some changes to your health. Mainly your diet and your physical exercise. Make better diet choices and get up and go for a run.

If you’re really dedicated, you can make some even more improvements. If you’ve been smoking for several years, you’ve probably tried to quit in the past. It’s hard, but it’s worth it. Quit smoking and you’ll see your life insurance premiums cut in half.

Each insurance company has different systems for rating their applicants with ADHD, which means you could receive drastically different quotes from various carriers. It’s easy to see why it’s important to get quotes from dozens of companies.

FAQs on Life Insurance Approval with ADHD

I have ADHD, can I still get approved for life insurance?

Yes, individuals with ADHD can obtain life insurance coverage. However, insurance companies may consider individuals with ADHD as higher risk, which could result in higher premiums or difficulty obtaining coverage.

How does ADHD affect how much life insurance premiums are?

The severity of symptoms, medication usage, and overall health can impact life insurance premiums for individuals with ADHD. Insurance companies may view individuals with severe symptoms or those who are not receiving adequate treatment as higher risk and therefore, charge higher premiums.

Is it necessary to disclose ADHD diagnosis to the insurance company?

Yes, it is important to disclose any ADHD diagnosis to the insurance company as it can impact the coverage and premium rate offered.

Research Articles Cited

  1. CDC.gov (n.d.) Data and Statistics about ADHD. Retrieved from https://www.cdc.gov/ncbddd/adhd/data.html
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About the Author

Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. He was a financial planner for 16+ years having founded, Alliance Wealth Management, a SEC Registered Investment Advisory firm, before selling it to focus on his passion - educating the masses on the importance of financial freedom through this blog, his podcast, and YouTube channel.


Jeff holds a Bachelors in Science in Finance and minor in Accounting from Southern Illinois University - Carbondale. In addition to his CFP® designation, he also earned the marks of AAMS® - Accredited Asset Management Specialist - and CRPC® - Chartered Retirement Planning Counselor.

While a practicing financial advisor, Jeff was named to Investopedia's distinguished list of Top 100 advisors (as high as #6) multiple times and CNBC's Digital Advisory Council.

Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur.

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