Life Insurance for Mental Disorders-finding the lowest rates

Life insurance for mental disorders?

Finding the most affordable life insurance for mental disorders may seem like a daunting task. Mental disorders can make up a whole host of things, from anxiety and depression to psychotic and personality disorders.

The assessment of life insurance for mental disorders requires a careful integration of psychiatric and lay aspects. The amount of coverage applied for, the reason for the coverage, and the choice of the beneficiary are all carefully evaluated before an offer for coverage can be made.

The terminology of psychiatric disease is less precise than that of organic disease. Often the terms used describe a mental state rather than provide a specific diagnosis. Also, the use of terms sometimes differs among psychiatrists, and there is great variability of meaning when psychiatric terms are used by doctors without specialist training in psychiatry.

For someone looking to find the absolute lowest rates on life insurance for mental disorders you must use a special risk  agent. An special risk agent is a life insurance agent that is an expert in finding affordable life insurance for mental disorders.  They typically will have many years experience working in the special risk underwriting area.

This special risk agent will know the life insurance carriers that specialize in life insurance for mental disorders. After all, there are over 1,000 life insurance companies in the United States. Only a few actually specialize in life insurance for mental disorders.

Each life insurance company evaluates medical history and lifestyle differently.  Therefore, one company may underwrite someone with a history of depression or anxiety totally different than another company.

Underwriting factors with life insurance for mental disorders

In addition to the actual diagnosis of the condition, other factors play a role in the final outcome from the insurance company.

Some of these factors are types of medication being used. Any history of hospitalizations? Is the prospect currently working? Has the prospect ever been disabled due to their mental disorder? Ever attempted suicide?

Also, family history of mental instability can also be an adverse factor.

Types of mental disorders

Underwriting life insurance for mental disorders can be challenging for the life insurance companies. Often times the underwriting company must rely on information from a prospects personal physician. Records from a prospects psychiatrist may also be needed. Here are some of the conditions that underwriters often see:

  • Bulemia Nervosa
  • Dementia
  • Alzheimer’s Disease
  • Schizophrenia
  • Paranoid Disorders
  • Neurotic Disorders
  • Manic-Depressive Disorders
  • Anxiety Neurosis, Phobias
  • Personality Disorders

Each of these disorders are potentially insurable depending on the factors discussed earlier. But, how do life insurance companies actually rate these disorders? Let’s look at a couple of examples:

Dan is a 65 year old male diagnosed with dementia. His condition is considered mile and slow progressing. He is able to care for himself and his CT scan reveals mild brain atrophy. No other major health conditions.

Based on the mildness of the disease, an underwriting company could probably offer a policy with around a 200% rate up above the standard rates for his age. A 200% rate up is a huge rate up. But, if coverage is desperately needed a 200% rate up may be an acceptable offer.

Susan is a 50 year female who has been diagnosed with manic depressive disorder. She was diagnosed 3 years ago and has had good response to continuing drug treatment. She is working full time and has no other health concerns. This particular case could be close to a standard offer, but at worse probably a slight rating of maybe 50% above standard.

How can you find the best rates available?

Okay, so now that you know life insurance for mental disorders is possible, how do you actually go about finding the best company?

Fortunately, you have landed on the right page. We are experts at finding coverage for those with pre-existing medical conditions. Here’s how we do it.

As an independent life agency with over 30 years experience we know which carriers underwrite the best. We have contacts with over 75 life insurance companies. We know which ones will offer us the best chance to insure you. We ask the right questions and then we have each company compete for your business.

Below are some of the questions needed to find out what direction we should go:

  1. Date of Birth
  2. Male or Female
  3. Name of your condition
  4. Date condition was diagnosed
  5. Medications you are currently taking
  6. Ever been hospitalized for your condition
  7. Are you currently working
  8. Have you ever been disabled due to your condition
  9. Used tobacco in last 5 years
  10. Any other medical conditions such as diabetes, heart disease, etc.

In addition to the questions above, it is also important to know how much protection you need an what type of plan (whole life or term) are you considering.

After this information is provided, your special risk agent will shop the carriers to find which carrier might offer you the lowest rates. Once the best carrier provides rates, then and only then will you complete a formal application along with any other exam requirements.

Many life insurance agents make the mistake of having their prospects get examined and fill out paperwork before they even know if a carrier will consider them for coverage. This is a waste of time and a rookie mistake. Why fill out applications and get examined if a company is going to decline you for coverage?

We are the experts at finding affordable life insurance for mental disorders.


If you would like a free evaluation of your situation, please contact us at 1-888-393-9003 or


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
Cumming, GA 30041


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

- Shannon from Atlanta, GA.

Mike and Special Risk Term are absolutely top shelf! I was worried that I would not be able to get term life insurance to protect my family, or that the costs would be exceedingly high.

Mike knew the industry inside and out and knew which companies would provide the best options. He coordinated with the underwriters to get the job done and get me an affordable plan, and kept me updated throughout the entire process. Not to mention he did it all electronically in the age of COVID without ever having to meet in person. Highly recommend. Excellent service and expertise!

- Chris M. from Laguna Niguel, CA.

Mike was extremely helpful in locating a life insurance company that would accept a preexisting condition at a reasonable price. He saved time by submitting health records to several companies for a quick preview then following up with the one who offered the most reasonable premium. He knows which companies are most likely to accept certain conditions. Throughout the application process Mike was very quick to respond to e mails and phone calls. We highly recommend Mike if you need life insurance and have a preexisting condition.

- Henry R. from Springfield, TN.

Mike and his team made the entire process from start to finish very seamless and also overcame the task with us being multiple states apart with ease. With the easy process and very competitive priced insurance for high risk athletes, you have no need to look anywhere else for coverage. Thanks to Mike and his team for all they did and I highly recommend them for your Special Risk Life Insurance needs.

- Tyler C. from Danville, VT.

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.

- Craig S. from Savannah, Ga.

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.

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.

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.

Two Thumbs Up for Mike at Special Risk Term

- Yaniv from Troy, MO.

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

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

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