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Will I Pay A Lot For Life Insurance If I Suffer From Anxiety Or Depression?

Life insurance with anxiety and depression
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University, a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA and Top of the Table member of the Million Dollar Round Table (MDRT). Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

 6 minute read

When you apply for a life insurance policy, the insurance company is going to review a variety of different factors when looking at your application. All of these factors are going to impact your chances of getting coverage and how much that you will pay every month for your policy. Some of the biggest factors that are going to be used are your age, tobacco usage, and your health. If you have any pre-existing conditions, like anxiety or depression, it could impact your health insurance plan.

Everybody feels depressed at low points in their life. Most of us have experienced anxiety when money is tight and the bills are due. When our social or professional lives (or both, even!) are troubled, our mood usually suffers, too. Thankfully, these tough times pass for most. Our anxiety subsides and our mood returns to normal. Now the question becomes, Will I pay a lot for life insurance if I suffer from anxiety or depression?

But for some, the angst and sadness does not pass. According to the Anxiety and Depression Society, “generalized anxiety disorder is characterized by persistent, excessive, and unrealistic worry about everyday things … expecting the worst even when there is no apparent reason for concern.”

Those with “obsessive-compulsive disorder (OCD) suffer from unwanted and intrusive thoughts that they can’t seem to get out of their heads (obsessions), often compelling them to repeatedly perform ritualistic behaviors and routines (compulsions) to try and ease their anxiety.”

Bipolar disorder thrusts feelings of anxiety and depression on it’s sufferers, who endure severe mood swings that intrude on their lives daily.

Whether you suffer from a mild anxiety disorder or even severe depression, the life insurance you and your family need is not out of reach.

While your premium may be higher than the standard rate, you could be surprised at how affordable your life insurance policy will be. Clients with the mildest cases of anxiety and depression can sometimes be approved at a preferred rating class, paying some of the lowest life insurance rates available.

At Ogletree Financial Services, we know which life insurance companies rate clients with anxiety and depression most favorably.

We can compare the premium you will pay at over 35 reputable insurers and we know which of those will be most receptive to you and your risk. Some life insurance companies shy away from clients with anxiety or depression, others specialize in impaired risk insurance and will offer surprisingly competitive premiums.

We know how to present your unique risk to these insurers to ensure that you will be assigned to the best rating class available and will pay the lowest premiums possible. Don’t let health problems keep you from having the peace of mind your family’s financial security can provide. You can get started right now, with the knowledge and experience of Ogletree Financial Services by your side. Use the free term quoter on this page, call us at 1-800-712-8519, or send us a message from our contact page.

If you have generalized anxiety disorder, obsessive-compulsive disorder, bipolar disorder or any of the family of conditions considered under the umbrella of anxiety and depression, what is most important is to be prepared for the intricacies and detail of your life insurance application and for the health examination required for most life insurance policies. Though if you feel your health will hinder you from qualifying for a traditional medically underwritten exam, there are other options out there such as a no medical exam life insurance policy that you can look into.

The premiums you pay for life insurance will always reflect how much of a risk a life insurance company perceives you to be. The more you and your agent know about your complete risk, and especially your history with any health condition that life insurance companies may perceive to “impair” your risk, the easier it is for your agent to choose the right insurance company for you and your family.

You have decided that it is time to protect your family and safeguard their financial security. Let Ogletree Financial Services help you fulfill this obligation to your loved ones. Anxiety or depression does not mean you will be denied life insurance coverage or pay sky-high premiums.

Life insurance companies want to know that clients with a history of anxiety or depression have received, or are currently receiving, proper medical treatment for their condition. They also want to be certain that you have properly followed the advice of your doctor and showed up for all necessary follow-up doctor visits.

Will I Pay A Lot For Life Insurance If I Suffer From Anxiety Or Depression?

Have all of your doctors’ names and contact information on hand and make certain that all your doctors have copies of your records to completely and accurately document your diagnosis and subsequent treatment.

It is a good idea to make a list of the medications you are taking now and have taken in the past, both for the treatment of your mood disorder and any other condition. Note all changes in your medications or dosages and why those changes were made.

Be sure to record which medication and dosage has proven most effective and how long your symptoms have been well-controlled with this particular treatment. If the proper medication and dosage to control your condition has not been determined, some insurance companies will delay your application.

Attending all your doctors appointments is very important. Your dedication to actively treat any health condition that “impairs” your risk is something all life insurance companies need to see to offer you the best risk rating possible. Your attention to your well-being is the surest way to pay the lowest life insurance premiums possible.

There are several ways that you can secure lower insurance rates and keep more money in your pocket. Making a few lifestyle changes could save you thousands of dollars on your coverage. It’s vital that you get the best insurance coverage for your family at an affordable rate.

The first thing that you should do is improve your health by starting a healthy diet. Switching out some of the junk food for healthier options can make a huge impact on your health as well as your insurance rates. You can still enjoy your favorite desserts, but making a few healthier meal decisions can work wonders on your overall health. Some of the best ways to make those changes is switching out foods like French fries

The next thing that you should do is improve your health by starting a regular exercise program. Getting consistent physical activity is a great way to shed those extra pounds, lower your blood pressure, lower your heart rate, and much more. All of those benefits are going to equal better insurance premiums for your life insurance. It’s time that you dusted off those running shoes and put them to good use. You don’t have to be a marathon runner to get the best rates for your life insurance plan.

The best way to lower your rates is to eliminate any tobacco that you currently use. Being listed as a smoker on your life insurance application is going to cause your insurance premiums to go through the roof. In fact, smokers pay twice as much for life insurance versus what a non-smoker is going to pay for the same amount of coverage.

As we mentioned earlier, each insurance company is going to look at your anxiety or depression differently, which means that you could receive drastically different rates depending on the company. It’s vital that you compare dozens of quotes before you pick the one that’s going to work best for you.

Instead of wasting your time calling all of those companies yourself, let us do all of the work for you. We can bring all of the lowest insurance rates directly to you, no hassle. We know that your time is important. If you wanted to get life insurance without an independent insurance agent, you would be answering the same questions over and over. We can save you hours of frustration.

Life insurance is one of the most important investments that you’ll ever make for your loved ones. It’s the best safety net that you can buy. Without life insurance, your loved ones would be left with a massive amount of debt, and no money to pay off all of those debts.

You never know what’s going to happen tomorrow, which means that you that you shouldn’t wait any longer to get the life insurance protection that your family deserves. One of the most common reasons that people don’t purchase life insurance is because they assume that it’s going to be too expensive. In fact, life insurance tends to be much more affordable than most applicants assume. You can’t put a price tag on the peace of mind that life insurance is going to give you.

Our agents have years of experience working with applicants suffering from anxiety and depression. We can help connect you with the perfect plan for you.

Get started with Ogletree Financial Services today. Use the free term quoter on this page, call us at 1-800-712-8519, or send us a message from our contact page.

Frequently asked Questions

Are life insurance rates higher if you have anxiety or depression?

Life insurance with anxiety and depression

While your premium may be higher than the standard rate, you could be surprised at how affordable your life insurance policy will be. Clients with the mildest cases of anxiety and depression can sometimes be approved at a preferred rating class, paying some of the lowest life insurance rates available.

Do life insurance companies decline people with depression?

woman with list graphic

Some life insurance companies shy away from applicants with anxiety or depression, while others specialize in impaired risk insurance and will offer surprisingly competitive premiums.

Which companies offer the best rates if you have anxiety issues?

We know which life insurance companies rate clients with anxiety and depression most favorably. We can compare the premium you will pay at over 35 reputable insurers and we know which of those will be most receptive to you and your risk.

How do insurance companies decide on a premium?

The premiums you pay for life insurance will always reflect how much of a risk a life insurance company perceives you to be. The more you and your agent know about your complete risk, and especially your history with any health condition that life insurance companies may perceive to “impair” your risk, the easier it is for your agent to choose the right insurance company for you 

author avatar
Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders.

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