Life Insurance with Depression and Anxiety disorders

Can I get affordable life insurance with depression and anxiety disorders?

Affordable life insurance with depression and anxiety disorders is possible if you work with a special risk life insurance broker.

This article will give you information on what information insurance company underwriter’s are looking for when trying to evaluate the risk for life insurance with depression and anxiety disorders.

It will also provide you with a general idea of any extra rating or premium charge for life insurance with depression and anxiety disorders.

How do company’s classify life insurance with depression and anxiety disorders?

Mood and anxiety disorders are common. People cope with mood and anxiety disorder’s in different ways. From an insurance company’s viewpoint the mortality risk is due primarily to suicide, cardiovascular disease, and substance abuse. Risk is typically highest early in the course of the disorder or within 2 years of hospitalization.

Individuals looking for life insurance with depression and anxiety disorders are usually classified into the following categories:

  • Depressive disorders(unipolar) and Bipolar disorders(manic depressive)-

The criteria for major depression requires a history of depressed mood for at least 2 weeks plus four or more of the following: weight change, sleep disturbance, psycho motor agitation or retardation, fatigue, feelings of worthlessness or guilt, difficulty concentrating, or suicidal intention.

The criteria to meet for Bipolar depression is typically a history of at least one episode of mania(abnormal or elevated or irritable mood) in addition to the major depression criteria.

  • Anxiety Disorders Include-

Panic disorders, agoraphobia, social phobia, social anxiety disorder, simple phobia, generalized anxiety disorder, obsessive-compulsive disorder and post traumatic stress disorder(PTSD)

Symptoms of anxiety disorders include worry and nervousness, racing heart, breathlessness, dizziness, sweats, headache, insomnia, and other vague complaints.

Depressive disorders often overlap with anxiety disorders. Recurrences are common in both mood and anxiety disorders.

Treatments for Depression and anxiety disorders can include: drug therapy (with and without counseling). Anti-depressant drugs are commonly used to treat both mood disorders and anxiety.

For more severe cases, electroconvulsive therapy or anti-psychotic agents may be required. If anxiety is present, treatment may include benzodiazepines and buspirone.

When underwriting life insurance with depression and anxiety disorders, caution is usually taken for those using more advanced treatment options. This could lead to a very high premium rating or an outright declination for coverage.

Typical Underwriting risk classes for life insurance with depression and anxiety disorders.

Once the underwriting insurance company has gathered the medical information for the insured, they will determine the severity of the risk: Below are the undewriting risk classes that most insurance companies use:

  • Mild– No suicidal ideation for 1 year. Able to perform normal activities with minimal symptoms. On 0-2 medications(no antipsychotic agent). Rare attacks.  N0 hospitalizations/suicide attempts/disability for greater than 9 years.

Under this scenario an individual would typically not be rated any additional risk.


  • Moderate– No suicidal ideation for 6 months. Able to perform normal activities with minimal-moderate symptoms on 0-3 medications(no antipsychotic agent). Single episode of disability of short duration.  No hospitalizations/suicide attempts for greater than 9 years.

Under this scenario an individual would typically expect to pay an additional premium of 50%.


  • Severe– Significant symptoms, requires antipsychotic medication.  Hospitalizations, long episodes of disability, single suicide attempt.

Under this scenario an insured would typically be declined with the first year of recovery, have an additional charge of 100%- 150% within 2nd to 3rd year of recovery, have an additional charge of 50%- 100% within 4th to 5th year of recovery, have an additional charge of  50%- 75% within 6th to 9th year of recovery.

Information needed to quote for life insurance with depression and anxiety disorders

When searching for the most affordable rates on life insurance with depression and anxiety disorders it is important to be up front with your agent.

Your agent will be your biggest advocate in finding you the lowest rate for life insurance. It is important that you work with an expert who specializes is securing coverage for individuals looking for life insurance with depression and anxiety disorders.

Quite frankly, there are only a few insurance companies in the industry that specialize in offering affordable life insurance with depression and anxiety disorders. Below are some of the questions these companies will need answered in order to offer you the most affordable rates:

  1. Male or Female
  2. Date of Birth
  3. Exact diagnosis of mood or anxiety disorder 
  4. Date of episodes
  5. Current or past medications
  6. Any history of substance abuse (drugs or alcohol)?
  7. Ever been hospitilized, required Electroconvulsive therapy, been in the ER, or been disabled for psychiatric symptoms?
  8. Any tobacco use history?
  9. Any other major health problems such as diabetes, cancer, heart disease, etc.

In addition to the above questions, your agent will need to know the amount of insurance protection you need, the plan of coverage (I.E. term life or whole life)

Once the information above is secured, the agent will talk to several insurance companies and discuss your situation. It is important to remember to not apply to several different insurance companies. This will only hurt your chances of finding the most affordable coverage. Insurance carriers will check the medical information bureau (MIB).

An experienced agent, who specializes in finding the most affordable life insurance with depression and anxiety disorders, will then present you with offers from the different companies. Once you agree on the best plan, then and only then should you make a formal application to the insurance company.

If you are searching for the best and most affordable life insurance with depression and anxiety disorders, then please contact us at 1-888-393-9003 or contact Mike Raines at

For a FREE quote

Call, text, email or fill out our instant quote form:

Call: 678-207-8160
Text: 678-207-8160
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How can I help?

Mike Raines

I am an independent life insurance agent with over 30 years’ experience. I am an expert in finding coverage for those with past or current medical history such as heart disease, diabetes, post cancer, etc. I also specialize in those that participate in scuba diving, mountain climbing, private pilots, etc. I work with the best life insurance companies in the nation, such as Prudential, AIG, Protective Life, Transamerica to name a few. Each carrier has different opinions on rates and underwriting, and it is my job to match you with the best company. To do that, I need to ask you a few questions about your health and lifestyle to qualify you.

For a FREE quote, call, text or email:

Call: 678-207-8160

Text: 678-207-8160


Mailing Address:
3482 Keith Bridge Road Suite #125
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As someone with a past cancer diagnosis, finding life insurance had been a huge annoyance. Mike made it easy, and somehow found quotes that were significantly more affordable than what others gave me.

- Matthew from St. Louis, MO.

Thank you very much, Mike, for all your help in this long process. I know it wasn’t easy, but I appreciate you not giving up on my application and helping provide peace of mind to me and my family.

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Mike and his team did an extra ordinary job of handling my life insurance situation.  I was unable to secure life insurance because I had cancer 17 years ago however Mike and his team navigated through the challenges to get me a 15 year policy at great monthly rates. Thank you Mike for all your work in in this challenging situation.

- Nathan S. from St. Paul, MN.

It’s not easy to find life insurance with a chronic condition such as crohn’s disease which is why I greatly appreciated having Mike on my team. Mike is responsive, patient, professional and indefatigable- all things you need when you’re looking for a competitive policy. Knowing my family will be taken care is not only a relief but a huge confidence boost and I’m thankful Mike works in the special risk insurance arena. I would absolutely work with him again. Thank you Mike!

- Bobby from Washington D.C.

As part of the process of buying a new business, I needed life insurance. However, my congenital heart defect made agents squirm over the phone. Then I found Mike, who not only understood my situation, but found two solutions for me. Within a week, I had confirmation of an AD&D policy and a Term Life policy…all at very reasonable rates. The sense of relief can’t be underestimated. Thank you, Mike!

- Heather G. From Crestview, Fl.

I contacted Mike for advice with life insurance. I had recently left a large firm (where I had life insurance coverage as part of compensation package) to start my own company.  Therefore I needed to self fund my life insurance.  Because of some past health issues I figured I may need to do extra tests to validate my current excellent health status and insurability.  Mike was great to work with, knowledgeable about how underwriters view things, how they will want lots of data from my doctors, and he explained the normal full battery of new tests and data as well as additional or special tests they might want based on my history.  He helped me through the valley to the other side of the life insured promised land for $500K term policy with a duration that meshes well with my retirement date/options and coverage for my family if needed. I highly recommend Mike with Special Risk Term.  He can help you too, so call or email today.

- Richard M. from Ann Arbor, MI

Mike did an awesome job in finding affordable coverage for myself and my husband. Highly recommend his services.

- Shannon from Atlanta, GA.

I could not be happier working with Mike Raines to get life insurance coverage for myself after having been declined for health reasons by my employer. My wife and I just had a son and it had become more imperative than ever that my family be protected if I were to pass away. The health screening appointment was conducted at my home around my schedule, which was very convenient. It was clear to me that Mike went above and beyond to make sure the underwriter fully understood my situation, going to bat for me so that I would not be declined again. I am a very happy customer.

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Mike did an outstanding job getting me my coverage. He went above and beyond answering all my questions. He always returned my calls immediately even on the weekends!!! I highly recommend him.

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We work with individuals across the nation to secure the best life insurance rates.

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