20-yr Term for 38 Male Takes One ADD Med?

Jul 5, 2015

  1. tins
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    Any thoughts as to which companies would work best for a person with Attention Deficit Disorder? Healthy on all accounts, will do full medical, but does have a prescription for Adderall (an amphetamine) to be taken 5mg, as needed. Also, his father died at 65 from cancer.
    Looking for $1.5-2.5 million coverage, depending on rating status. Currently holds a $1 million 20-yr that is 3 years in, but the gentleman makes a large income and feels his wife and kids would need more than 1 mil to replace his income.
    Thoughts and ideas are welcome. Would love if anybody could attach some company underwriting guidelines as .pdf for me to read through.
    Love,
    tins

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    P.S. current age 38, nearest age is 39.
     
  2. NewbieNewbie
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    Should be an easy standard rate with most carriers assuming it is well controlled. Possibly s+ with a few. He needs to be prepped for a financial interview and possibly even tax returns.
     
  3. UW Guy
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    The ADHD sounds controlled, calling Adderall an amphetamine is a bit of a misnomer compared to street drug use. And 5 mgs is a low dose. The family history shouldn't be too horrifying as long as it wasn't colon cancer, it hit him before 60, or there are any other relations with the same history.

    Also keep in mind his large income might not get the higher multiples of income anymore since he's kicking 40 (some carriers might be as low as a 12-15 multiple). Hopefully his income can justify $2.5M but you hate to see a carrier say they used an estate need on a term policy.
     
  4. DWPCL
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    I use adderral 20mg 2x a day and was approved at preferred plus. It should not be an issue at all.
     
  5. NewbieNewbie
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    Mind sharing the carrier? I am not doubting you but that would be a good tidbit for the future.

    I have done a few ADHD cases but come to think of it most have had some other stuff going on. Pretty clear standard risks. Thanks in advance.
     
  6. scottstreet
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    good info for the knowledge base. What carrier?
     
  7. AlTheGud1sRtakn
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    I forget the amounts but MoO gave a client on Adderall a preferred rating a few months back.

    How long have they been on the meds? That's the big thing, if they've been on that same med and dosage for more than a few years then it's usually a non issue. Less than 2 years sometimes there is a rateup. Less than 6 months it's often a decline.
     
  8. tins
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    I spoke with UOO life underwriter (fully underwritten term Answers). She told me with that being the only medication, assuming all bloodwork comes out well, should qualify for the Preferred Plus rate.

    (Protective Life and Transamerica both said likely preferred, but not the higher level of preferred.)
     
  9. DWPCL
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    No problem. I own coverage with Guardian and Penn Mutual.
     
  10. NewbieNewbie
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    Thanksbfor the replies. Good info to have in the future.
     
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