Life Insurance for People with a Mental Health Condition: Different Types of Conditions & How to Apply

Last Updated: March 2021

If you or a loved one has a mental health condition or disorder, finding a life insurance policy can seem intimidating. With our help below, you can find the right life insurance company and policy to fit your needs.

In this article, we provide links to articles about specific types of mental health conditions and review helpful information regarding the underwriting process.

• Can I Get Life Insurance with a Mental Health Condition?
• Underwriting: What Life Insurance Companies Will Ask About Your Mental Health Condition
• How to Apply for Life Insurance with a Mental Health Condition

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Can I Get Life Insurance with a Mental Health Condition?

Yes! Applying for life insurance when you have a mental health disorder can certainly be more expensive, but it doesn’t always have to be. In order to find affordable high risk life insurance, you need to know how to find the right carriers for your unique situation.

We have written specific articles below on how to obtain life insurance at affordable rates, even if you have a mental health disorder.

Have a look through our archive of mental health articles, and read through the ones that pertain to you:

• Life Insurance with Bipolar Disorder – Just because you have bipolar disorder doesn’t mean you can’t qualify for affordable life insurance. Here we explain how you can still get affordable premiums, even if you have bipolar.
• Life Insurance with Depression – Depression is a complicated thing, and there are many questions an underwriter will ask a person with depression before approving them for coverage. Find out more about the process here.
• Life Insurance with Anxiety – Learn how to secure the best life insurance rates with mild, moderate, or severe anxiety.
• Life Insurance with ADD and ADHD – Find the best term life insurance rates for individuals with Attention Deficit Disorder (ADD) and Attention Deficit Hyper Disorder (ADHD).
• Life Insurance with PTSD – Finding affordable insurance coverage for individuals with a chronic medical condition such as Post-Traumatic Stress Disorder (PTSD) can be more challenging. Learn more about the process here.
• Life Insurance while taking Modafinil or Provigil – With medications such as Modafinil and Provigil, rates for life insurance will depend on the underlying issue you’re trying to treat. Modafinil and Provigil are commonly used to treat narcolepsy, sleep apnea, and to help with focus.
• Life Insurance with Autism, Asperger’s, or ASD – Finding life insurance for individuals on the autism spectrum or with Asperger’s syndrome is possible. Find out more here.

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Underwriting: What Life Insurance Companies Will Ask About Your Mental Health Condition

For many people with mental health disorders, the thought of applying for life insurance can be scary. They believe they will be turned down automatically based on their disorder.

For some people, this could be entirely true, but for most people, life insurance is still very much a possibility. The underwriters will have many questions they will ask you, and your answers to those questions will help them determine whether or not they are able to provide you with life insurance.

Treatment for Your Mental Health Condition Can Improve the Life Insurance Rates You are Offered

One of the most important things they will be looking at is whether or not you have done anything to try and treat your mental health issues. If you are already seeing a specialist, have been on medication, and are showing signs of improvement and stability, then there’s a good chance that you can still receive good premiums on your life insurance.

There are certain things that will become big red flags in the eyes of a life insurance provider, though. For example, if you have depression and have recently attempted suicide, then you may not be able to be approved for life insurance any time in the near future. This will be seen as a large risk by any insurance company, and most of them will be very apprehensive to give you coverage.

If you are a smoker looking for life insurance, or suffer from a heart condition along with a mental health condition, your rates could be significantly higher. But working with an independent life insurance agent is the best way to secure the lowest rates possible.

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How to Apply for Life Insurance with a Mental Health Condition

The best thing you can do if you have any type of mental health disorder is to work with an independent agent like us, to help you through the underwriting process. When you do the underwriting process on your own, you can answer the questions in a way that might incriminate you and cause your rates to go up.

If you go through the process with us first, we can help you to answer the questions in a way that is honest but won’t cause your rates to go up. Then we can take your answers and shop them around to several different life insurance companies.

Since you will have answered these questions in a way that will sound more acceptable to the insurance companies, they will be more likely to come back to you with more reasonable quotes. This not only saves you time by not having to call each insurance company individually, but you could get a much better price than you would be able to get by applying for life insurance on your own.