Can You Get Life Insurance with Depression?

Shawn Plummer

CEO, The Annuity Expert

Understanding Life Insurance Eligibility with Depression

Depression and Life Insurance Eligibility Depression does not automatically disqualify you from obtaining life insurance. The key factors that insurers consider include the severity of the depression, treatment history, any hospitalizations due to depression, medication usage, and any history of suicidal thoughts or attempts.

Types of Life Insurance Policies for Individuals with Depression

  1. Fully Underwritten Policy: This type of policy typically requires a comprehensive medical examination and detailed medical history. If your depression is well-managed, you may qualify for this policy.
  2. Final Expense Policy: Designed for lower coverage amounts, this policy is often easier to qualify for and may be a suitable option for those with moderate depression.
  3. Guaranteed Issue Policy: This policy requires no medical examination or questions about health. It’s an option for individuals with severe depression, but it usually comes with higher premiums and lower coverage amounts.

Choosing the Right Policy

Factors to Consider

  • Severity of Depression: The more controlled and less severe your condition, the more insurance options you may have.
  • Medical History and Treatment: Consistent treatment and a stable medical history can improve your chances of getting a more favorable policy.
  • Financial Needs: Consider the coverage amount you need to support your beneficiaries.

Life Insurance Options for People with Depression

Policy TypeMedical Exam RequiredCoverage AmountBest Suited for
Fully UnderwrittenYesHighWell-managed, mild depression
Final ExpenseNoModerateModerate depression
Guaranteed IssueNoLowSevere depression


While depression does not automatically preclude you from obtaining life insurance, the type and terms of coverage available will depend on the severity and management of your condition. Understanding the different policy types and their suitability for your specific situation is crucial. Remember, the right life insurance plan can provide peace of mind and financial security for you and your loved ones. Contact us today for a free quote.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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