Would a diagnosis of Trichotillomania affect term life insurance rates?

Question

Would a diagnosis of Trichotillomania affect term life insurance rates?

Answer 1

Since it is not a fatal disease you are at no risk so it should not increase your premium.  Things that are red flags are serious or potential life threatening  illnesses, smoking, drinking, poor traffic record to include reckless driving and family history.  You can accept risk with riders or clauses but I don't see you dying from pulling your hair out.  If it is a severe case that requires hospitalization or infection related to sores caused by the disorder then a preexisting condition clause entered into the contract.  either way this is a health or medical insurance issue not a life insurance one.  Hope this helped.

Answer 2

Inasmuch as this might be considered to be a psychiatric diagnosis, then yes.  No enlightened insurance company would raise rates for this diagnosis, but there are plenty of unenlightened ones out there.  If you are quoted rates that you think are excessive, check with the agent to find out how the rates were computed.

Answer 3

Normally, you should be able to get standard rates or slightly better.  The problem with chronic psychiatric conditions, is that they have a tendency to lead to one another.  Trich, itself, does not pose an additional risk, but trich tends to increase your chances of developing depression, anxiety, and so on later in life.

If you are not getting standard or better rates, ask your insurance broker to look around for you.  If he or she is unwilling or unable to, ask another insurance broker to look "informally" for you without sacrificing any formal offer you already have.

Good luck