Life Insurance for Depression, Anxiety, and Mental Health Disorders

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Understanding Underwriting for Mental Health

The underwriting process for life insurance applicants with a history of depression or other mental health issues differs significantly from standard medical evaluations. Unlike physical conditions that can be quantified easily, mental health assessment requires a comprehensive review of an individual’s historical and current mental health status.

Key factors include:

  1. Stability in Personal and Professional Life: This involves evaluating the applicant’s social and work life for signs of stability.
  2. Consistency in Medication: Underwriters look for a stable history of medication usage, ideally with the same medication at the same dosage for at least 12 months.
  3. Regular Doctor Visits: Consistency in doctor visits and prescribed medications, along with adherence to recommended follow-up appointments, is crucial.
  4. Substance Abuse History: Any history of substance abuse is taken into account as it can impact mental health.
Mental Health And Life Insurance

Challenges in Mental Health Assessment

  • Subjectivity: Mental health assessment is more subjective compared to physical health evaluations.
  • Variability Among Insurers: Different insurance companies have varied guidelines for underwriting mental health conditions.

Importance of Working with an Independent Agent

  • Tailored Solutions: Independent agents can provide customized solutions by shopping around for the best insurance options suited to your specific case.
  • Expertise in Navigating Policies: They have the expertise to navigate through different policies and find one that aligns with your mental health history.

Comparison of Underwriting Factors

FactorPhysical Health (e.g., Weight)Mental Health
Assessment MethodQuantitative (e.g., height and weight chart)Qualitative (overall history review)
Stability CheckNot typically requiredEssential (in medication, lifestyle, doctor visits)
Variability Among InsurersLowHigh
Expert GuidanceLess criticalHighly recommended
Life Insurance For People With Depression


Applying for life insurance with a history of depression or mental health issues requires a nuanced approach, focusing on the stability and consistency in your mental health history. Given the subjective nature of mental health assessment and variability in insurer policies, collaborating with an independent insurance agent is advisable for tailored guidance. This approach ensures you find a policy that best suits your unique circumstances.

Contact us today for a free quote.

Need Help Getting Life Insurance Coverage?

If you have a preexisting medical condition and want to buy life insurance, you will need help from an expert. This person can help ensure you get coverage so you don’t get declined.

Warning: Applying for life insurance without a medical exam can be risky. If you are declined coverage, it could be at least two years before you can get any life insurance.

Impaired Risk Life Insurance
Have You Been Declined Life Insurance Coverage Before?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, 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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