What is considered a mental health condition for life insurance coverage purposes?
When it comes to your mental health, a life insurance company is mostly interested in any diagnoses that require medication or might affect your daily life or ability to work. The National Alliance on Mental Illness (NAMI) defines the following as mental health conditions:
Anxiety
Attention deficit hyperactivity disorder (ADHD)
Bipolar disorder
Borderline personality disorder
Depression
Dissociative disorders
Eating disorders
Obsessive-compulsive disorder
Post-traumatic stress disorder
Psychosis
Schizoaffective disorder
Schizophrenia
Mental health conditions are very common: One in five U.S. adults experience a mental health disorder each year, according to NAMI, [1] and almost one in five U.S. adults experienced a major depressive episode in 2020. [2]
Can you qualify for life insurance if you have a mental health condition?
It’s unlikely you’ll be denied life insurance coverage just because you have a mental health condition. You may pay more with some insurers, but others might offer you their most affordable premiums. Like any other health condition, it will depend on how you manage your mental health and the type of diagnosis you received from your physician.
It can be more difficult to qualify for life insurance with certain types of mental health conditions than others. For instance, insurers view conditions such as schizophrenia and bipolar disorder as higher-risk than anxiety or depression, especially if these are not being treated.
Can you qualify for life insurance if you were diagnosed with a mental health diagnosis in the past?
Yes, you can qualify for life insurance if you were previously diagnosed with a mental health condition. The insurance company might request an attending physician statement (APS) to confirm that you successfully completed your treatment plan and are no longer experiencing symptoms. If your diagnosis was mild and did not require medication, it’s likely that it will not impact your rates at all.
Best companies for life insurance if you have a mental health condition
Every life insurance company weighs the risks of every health condition — including mental health diagnoses — differently. However, some companies are more accommodating than others if you have a mental health condition.
We used industry data, pricing from Policygenius carrier partners, and third-party ratings like A.M. Best and J.D. Power to pick the best insurers on the market. Our independent recommendations will help you get life insurance coverage with confidence.
Best overall: Prudential
Best for depression: Lincoln Financial
Best for anxiety disorders: Corebridge Financial
Best for bipolar disorder: Prudential
Best for PTSD: Corebridge Financial
Best for ADHD: Brighthouse Financial
Best for no medical exam: Brighthouse Financial
Methodology: How we chose the best life insurance companies for people with mental health conditions of 2023
We don't get paid for our company reviews and use an extensive rubric of criteria covering policy details, price, financial confidence, third-party ratings, and customer experience to assign unbiased ratings out of five stars. Any recommendations we make are based on internal and external expert opinions and data from our Policygenius Price Index, which uses real-time rate data from leading life insurance companies to determine pricing trends.
Our ratings and reviews can help point you to an insurer you can rely on for your family’s financial protection, but the best life insurance company for you is dependent on multiple factors. A licensed agent at Policygenius can work with you through the application process so you’re getting coverage from the best insurer for your circumstances at the most competitive price.
Best overall
2023 Policygenius award winner
Prudential
4.1
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
For conditions that are moderate to severe, Prudential is more likely to offer a more favorable health rating than other insurers. This insurer tends to offer more affordable rates even if you have more than one mental health condition. And if your condition is mild and well-controlled, Prudential may offer you even the best rates — as long as you otherwise qualify for coverage.
Best life insurance for depression
2023 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
Lincoln offers favorable rates if you are on no medication, one medication, or two medications for depression. If your condition is mild, you can apply with Lincoln's non-medical option as well.
Best life insurance for anxiety disorders
2023 Policygenius award winner
Corebridge Financial
4.6
30+ year terms
All 50 states
Why we chose it
With competitive pricing and a range of flexible term periods for its Select-a-Term product, Corebridge is a solid option for many life insurance shoppers. Note: We are currently using AIG’s financial strength ratings until Corebridge has its own rating..
Pros and cons
Pros
Competitive pricing for all ages
Favorable underwriting for people with heart conditions and diabetes
Good for current and recently pregnant people, including people with gestational diabetes
Cons
Not the best for people with mental health conditions, including anxiety and depression
No no-medical-exam term option
Corebridge Financial (formerly AIG Life & Retirement) is one of the most accommodating insurers for people with anxiety. The company can offer you some of the best rates even if you are on up to two different medications to treat your condition, assuming you otherwise qualify for coverage.
Best life insurance for bipolar disorder
2023 Policygenius award winner
Prudential
4.1
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
Prudential can be a bit more flexible than other insurance companies when evaluating applications from people with bipolar disorder. Like other companies, Prudential will use your medical exam and health records to determine how well you’re managing your condition.
Best life insurance for PTSD
Corebridge Financial
Corebridge Financial offers more flexibility when it comes to post-traumatic stress disorder (PTSD) than some other insurers. Even if you’re currently on up to one medication for treating PTSD, you’re eligible for rates usually reserved for people in excellent health, assuming you’ve consulted a therapist and are able to work full-time.
Best life insurance for ADHD
2023 Policygenius award winner
Brighthouse Financial
5.0
No-medical-exam option
Why we chose it
Brighthouse Financial offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it a great choice for people who want to get life insurance coverage without having to take the medical exam.
Pros and cons
Pros
Extremely affordable
Instant-decision applications
Best-in-class no-exam option
Cons
Traditional term life not available in CA, IL, LA, ME, or NY
Term life applicants limited to ages 25-50
Brighthouse offers flexibility for people diagnosed with attention-deficit disorder (ADD) or ADHD. This company may offer you even its best rates — usually reserved for people in excellent health — regardless of how recently you were diagnosed with this condition.
Best no-medical-exam life insurance for people with mental health conditions
Brighthouse Financial
Brighthouse Financial offers an instant decision option that leads to a quicker turnaround time. It offers competitive life insurance coverage rates, comprehensive coverage, and application decisions in as little as 24 hours.
Applying for life insurance with other mental health conditions
Eating disorders
There are many different types of eating disorders, so the impact on your life insurance rates will vary based on your specific situation.
If you have a history of eating disorders or are currently experiencing this condition, the insurance company will likely ask some follow-up questions regarding your health and treatment, including any history of other mental health conditions.
If you haven’t had any recent symptoms or abnormal bloodwork and you’ve been seeing your doctor regularly, you’ll likely find it easier to qualify for coverage. Having an average height-to-weight ratio can also help if you’re in recovery.
Schizophrenia
Life insurance companies generally view schizophrenia as a high-risk condition. When applying for life insurance with schizophrenia, you’ll likely answer questions about when you were diagnosed, to what extent it affects your activities of daily living, what your treatment consists of, and whether you’re able to work full-time.
It’s possible to qualify for term life insurance with mild schizophrenia, but you’ll pay more in premiums than someone without this condition. On the other hand, it can be difficult to qualify for life insurance if you have schizophrenia that prohibits daily function.
If you’re managing schizophrenia and seeking life insurance, it will be best to speak with an independent broker who will be able to compare life insurance quotes for you and find the best type of policy. At Policygenius, our experts are licensed in all 50 states and can walk you through the entire life insurance buying process while offering transparent, unbiased advice.
How much does life insurance cost if you have a mental health condition?
Mental health conditions can affect your physical well-being and ability to complete day-to-day tasks, so they are considered a health risk by insurers. Life insurance providers vary in how they weigh those risks and set your premiums.
Generally, your premiums will be more expensive if you have:
More severe diagnoses
Inconsistent treatment records
Health issues linked to your mental health
Recent or multiple hospitalizations
20-year term life insurance rates for people with depression
Age | Gender | Non-smoker | Smoker |
|---|---|---|---|
25 | Female | $26.41 | $68.27 |
Male | $32.92 | $88.32 | |
35 | Female | $31.87 | $92.65 |
Male | $38.43 | $113.73 | |
45 | Female | $62.75 | $199.10 |
Male | $79.03 | $266.92 | |
55 | Female | $140.96 | $442.97 |
Male | $197.19 | $623.34 |
Methodology: Monthly rates are calculated for male and female smokers and non-smokers in Preferred and Standard health classifications, obtaining a 20-year, $500,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Legal & General America, Corebridge Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, and Transamerica and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 07/01/2023.
20-year term life insurance rates for people with anxiety
Age | Gender | Non-smoker | Smoker |
|---|---|---|---|
25 | Female | $19.27 | $59.74 |
Male | $24.20 | $75.47 | |
35 | Female | $23.20 | $80.33 |
Male | $27.58 | $96.21 | |
45 | Female | $44.74 | $168.87 |
Male | $56.44 | $227.38 | |
55 | Female | $103.00 | $379.87 |
Male | $141.64 | $540.52 |
Methodology: Monthly rates are calculated for male and female smokers and non-smokers in Preferred and Preferred Plus health classifications, obtaining a 20-year, $500,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Legal & General America, Corebridge Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, and Transamerica and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 07/01/2023.
20-year term life insurance rates for people with bipolar disorder
Age | Gender | Non-smoker | Smoker |
|---|---|---|---|
25 | Female | $42.96 | $106.83 |
Male | $51.06 | $125.02 | |
35 | Female | $49.72 | $167.02 |
Male | $59.88 | $206.10 | |
45 | Female | $107.34 | $382.23 |
Male | $139.26 | 509.22 | |
55 | Female | $238.70 | $822.87 |
Male | $345.40 | $1,147.23 |
Methodology: Monthly rates are calculated for male and female smokers and non-smokers in Substandard T4 health classifications, obtaining a 20-year, $500,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Legal & General America, Corebridge Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica, and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 07/01/2023.
20-year term life insurance rates for people with ADHD
Age | Gender | Non-smoker | Smoker |
|---|---|---|---|
25 | Female | $19.27 | $59.74 |
Male | $24.20 | $75.47 | |
35 | Female | $23.20 | $80.33 |
Male | $27.58 | $96.21 | |
45 | Female | $44.74 | $168.87 |
Male | $56.44 | $227.38 | |
55 | Female | $103.00 | $379.88 |
Male | $141.64 | $540.52 |
Methodology: Monthly rates are calculated for male and female smokers and non-smokers in Preferred and Preferred Plus health classifications, obtaining a 20-year, $500,000 term life insurance policy. Life insurance averages are based on a composite of policies offered by Policygenius from Legal & General America, Corebridge Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, and Transamerica, and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 07/01/2023.
How mental health diagnoses affect your health classifications
The table below reflects whether people diagnosed with depression or anxiety can qualify for the most favorable health classifications with each of our partner insurance companies:
Company | Anxiety | Depression | |
|---|---|---|---|
Yes, with up to 2 medications | No | ||
Yes, with up to 1 medication | Yes, with up to 1 medication | ||
Yes, with up to 1 medication | Possible, with a mild diagnosis | ||
Yes, with up to 2 medications | Yes, with up to 1 medication | ||
Possible, with 1 medication | No | ||
No | No | ||
Yes, with up to 1 medication | Yes, with up to 1 medication | ||
Yes, with up to 2 medications | Yes, with up to 1 medication | ||
Possible | No | ||
Possible | No |
Methodology: Based on underwriting data provided by Policygenius partner insurers as of July 2023. Qualifying for a Preferred Plus or Preferred health rating is dependent on specific treatment history and medication requirements that are approved for each age group and vary by provider.
Every application is evaluated on an individual basis, so the charts above are just guidelines. The best way to find the right coverage option for your personal situation is to work with an independent broker. At Policygenius, our experts are licensed in all 50 states and can walk you through the entire life insurance buying process while offering transparent, unbiased advice.
If you don’t fit the medication guidelines, some insurance companies will offer an improved health classification if you have a mild diagnosis and can demonstrate that you have a steady treatment history. And even if you don’t qualify for a competitive classification, you can still get covered — your rates will just be slightly higher.
What happens if your mental health changes?
Any changes to your mental health won’t have any impact on your life insurance coverage after you’ve purchased your policy. Your rates will remain the same as long as you keep paying the premiums.
If your mental health worsens shortly before or during your application process, it may impact your approval odds or your rates — you might be denied coverage, or your premiums might become too expensive. But you’ll still have options. After you find a treatment plan that works for you and maintain it for a year or two, you can try to apply again.
On the other hand, if your mental health significantly improves, you may want to shop around for a new policy to confirm you are getting the best rates possible.
In both of these situations, insurance companies generally like to see consistent and effective treatment for at least six months to one year. If you are in the middle of switching medications or treatment, they may ask a few more questions about your health to determine your rates.
Can your life insurance policy be canceled?
Yes, if you lie during the application process, your insurance company can cancel your policy and deny your beneficiaries the death benefit once the truth is discovered.
This penalty applies even after the contestability period, which allows your insurer to review your application for evidence of fraud if you pass away in the first two years of your policy. It also applies if you die by suicide after the suicide clause period ends.
Always be completely forthcoming with your life insurance company. Standard medical record checks during the application process will reveal your prescription and diagnosis history even if you don’t disclose them.
What types of life insurance policies are available if you have a mental health condition?
Term life insurance
Term is one of the most popular types of life insurance available because it’s affordable and lasts as long as you need — for most people, that’s between 10 and 40 years. It’s suitable for most people who are looking to protect their income and other financial responsibilities (such as children or a mortgage) for a set period of time.
If you have a mental health condition, you can qualify for affordable term life insurance rates in many cases. The insurance company will take a look into your health history during the application process to determine your rates, just as they would with any other health condition.
But if you have had a recent hospitalization or in-patient treatment, the insurance company may see it as a sign of a higher insurance risk, and decide to postpone your application.
Permanent life insurance
If you have complex financial planning needs and are seeking whole life insurance, which is a type of permanent life insurance that usually comes with a cash value component that can be used as an investment vehicle, you should still be able to qualify with a mental health condition.
The application process will be generally the same — the insurance company will look into your health history and determine your rates. Like with term, your eligibility will be delayed if you have had a recent hospitalization or in-patient treatment.
No-medical-exam life insurance
At Policygenius, we work with several insurance companies that do not automatically require medical exams, even if you have a mental health condition. In these cases, you would complete a health questionnaire online or over the phone instead.
If your condition is mild with stable treatment, you can speak with a Policygenius expert to determine which options might be available for you to bypass the medical exam.
What do life insurance companies consider when you're applying with a mental health condition?
Depression and anxiety can cause physical health risks, such as cardiovascular disease and panic attacks, [3] [4] which insurers factor into your rates.
Other mental health conditions, such as eating disorders, can lead to serious health complications related to the gastrointestinal system, the heart, and other organs.
Life insurance companies will want to see a complete picture of your diagnosis, treatment history, and the rest of your medical history to accurately set your premiums.
What parts of your mental health history are insurers looking at?
Your exact mental health diagnosis will be an important part of your application.
If you have a temporary or situational condition, such as postpartum depression or anxiety following a major life event for which you sought treatment or counseling, it is still important to disclose this to the insurance company. This probably won’t have any impact on your application.
If you have a condition more commonly linked to suicide, like severe depression, bipolar disorder, or schizophrenia, your premiums will be higher. [5]
Depending on your condition and medical history, you may be required to take a medical exam.
Regardless of your condition, it’s important to disclose any mental health diagnosis during the application process. Lying or hiding medical information can be considered fraud and have serious consequences for you, including policy denial, cancellation of coverage, or higher premiums.
The insurance company will mainly want to see a pattern of consistency, such as steady employment and a consistent treatment plan, says Jake Herskovits, life insurance sales specialist at Policygenius.
An insurer will also be more willing to offer you a better rate if you are on fewer medications, or if you have a medication plan without frequent changes in dosages or types of medications. You’ll be more likely to be declined coverage if you:
Can’t work or are on disability due to anxiety, depression, bipolar disorder, or schizophrenia
Have attempted suicide
Were hospitalized due to anxiety or depression in the last year
During the application process, be prepared to answer questions about your mental health, including:
What was your exact diagnosis?
What was the date of your diagnosis?
Are you currently receiving psychotherapy treatment?
Are you currently taking medication for depression or anxiety?
Have you ever been treated for and/or taken medication for depression or anxiety?
Have you ever been hospitalized due to depression or anxiety?
What life insurance options do you have if you can’t qualify?
You may be declined traditional term or whole life insurance coverage if you have a severe or untreated mental health condition, or recent hospitalizations due to self-harm or panic attacks. However, you still have life insurance coverage options. These include:
Guaranteed issue life insurance: Guaranteed issue is a type of whole life insurance aimed at covering final expenses. These policies are significantly more expensive than term life insurance and have age restrictions, but they offer almost-certain approval and don’t require a medical exam to qualify.
Group life insurance: Policies offered by your employer are affordable and rarely require medical screening, but your coverage amount will be limited, and you’ll lose coverage if you leave your company.
Simplified issue life insurance: Another type of final expense policy, simplified issue life insurance can get you coverage for up to $50,000. This type of policy also comes with high premiums and age limits, and requires a medical questionnaire for approval.
If you or someone you know is in crisis, you can call the National Suicide Prevention Lifeline at 1-800-273-8255, or text the Crisis Text Line (text HELLO to 741741). Both services are free and available 24 hours a day, seven days a week. The deaf and hard of hearing can contact the Lifeline via TTY at 1-800-799-4889. All calls are confidential.
Other health concerns that can affect your life insurance
Certain pre-existing conditions and other health-related concerns can affect your life insurance options or costs. A Policygenius expert can help you find the right policy for your needs.
Frequently asked questions
Can you get life insurance with a mental health condition?
Yes. Depending on your diagnosis and how well-managed it is, you may even be eligible for an insurer’s most affordable premiums.
How can depression and anxiety affect your life insurance rates?
You will have higher premiums if you have a more severe diagnosis or an inconsistent treatment history. The less your diagnosis impacts your daily life, the more favorable your rates will be.
Do you have to disclose your mental health condition when you get life insurance?
Yes, you should disclose all of your health conditions. If you don’t, the insurer will find out from your medical records, and you could lose your coverage for hiding the information.
Will you be denied life insurance if you have anxiety or depression?
You can be denied coverage if your mental health makes it difficult for you to work, or if you’ve been hospitalized in the last year due to self-harm or a panic attack. However, you can still qualify for non-traditional policies like guaranteed issue life insurance.
Can someone with bipolar disorder get life insurance?
Yes, you can get life insurance if you have bipolar disorder, provided you have a treatment plan that works for you. The insurance company will ask you about your treatment plan and very likely request an attending physician statement (APS). If your bipolar disorder prevents you from working or impedes your daily function, it may be best to see a doctor and get consistent treatment before applying.
Does going to therapy affect life insurance?
No, going to therapy should not negatively impact your life insurance policy. Insurance companies are even more likely to give you a better rate if you are in therapy and have a mental health diagnosis, because it demonstrates that you are taking proactive care of your condition.
