Compare Rates

Life Insurance With Depression

How to Apply for Life Insurance With Depression | The Complete Definitive Guide For [2021] 

Applying for life insurance with depression is usually a simple process. It can be a little challenging if the degree of depression is severe. life insurance with depression photoEveryone knows that life insurance companies take a close look at your physical health. They will carefully examine any medical condition such as high blood pressure, high cholesterol or being overweight plus many others.

The companies also pay close attention to any forms of mental illness as well. These mental conditions can sometimes advance to acts of suicide which is the only reason the insurance companies pay such close attention. In this blog post, we are going to cover everything you need to know about how to apply for life insurance with depression and get the best possible rates. 


Millions of people in the United States have some form of depression especially during these volatile times. In many cases their applications are approved in the “Preferred” rate class with no extra charge at all.

Does Depression Affect Life Insurance?

Whenever we speak with people who are diagnosed with depression. One of the first questions they ask is “does having depression affect life insurance”. They also ask if it affects their chances of being approved and will their rates go up. These are all real good questions because these are all variables can can have impact on your application. We are going to cover these questions and a lot more so hang in there and keep reading.


Connect With an Independent Agent to Help You!

Let’s first establish the fact that you have depression and you want to buy life insurance, but you don’t know where to start. You probably are worried that the depression condition is going to represent a problem and possibly prevent you from obtaining affordable coverage. This is only natural, so the next step is your going to need a professional insurance advisor to help you along so you can purchase your life insurance and also have very affordable rates at the same time.

A Broker also known as an independent agent works with all the top insurance carriers and can choose the best company for your specific needs. The best part is, there is no cost or obligation for his help. Independent agents such as ourselves specialize in helping people with medical conditions buy affordable life insurance with the most trusted life insurance companies.


Can I Get Life Insurance With Depression?

Most people in the United States get some form of depression at one point or another. This is one of the most common medical conditions in the country and the life insurance industry is well aware of that. By far, most people diagnosed with depression disorder can get life insurance with no problem at all. Many of these applicants fall into one of two excellent health classifications which are Preferred and Standard Plus. The only time there is an exception is with more severe cases where suicidal thoughts are present with the application. Also regular hospitalization and psychiatric care can present a more challenging application.


Can Depression Cause My Rates to Go Up?

If your condition is very mild to moderate, probably not. If you condition is more severe then yes they can. Most cases we see with depression end up with preferred rates. As long as you condition is stable and easily controlled you should have no problems. Here are the situations that normally cause rates to go up or even a possible decline.

  • Hospitalized for depression
  • Patient of a mental institution
  • Prescription medication and dosages for severe cases 
  • Regular Psychiatric counseling with an MD
  • Reporting thoughts of suicide


Denied Life Insurance Because of Depression Disorder

If you have been denied life insurance because of depression disorder, there is a possibility of one or two things to consider. Either you have a very severe case of depression or else you connected with an inexperienced captive agent or both. A very severe case of depression could be defined as using multiple drugs with high dosages along with hospitalization, regular medical visits with a Physiatric Physician or have made suicide attempts or strong thoughts of suicide.

Using an inexperienced captive agent such as a State Farm agent with little to no knowledge of high risk medical conditions could get you declined very easily. Many companies that specialize in auto insurance would not even sell life insurance to people with many types of medical conditions. You need to work with an independent agent that understands and is experienced with high risk life insurance.

If you were declined, contact an experienced life insurance agent such as ourselves and we can pre-screen your condition and choose the best company for you to apply with.


Can You Buy Life Insurance If Using Antidepressant Medications?

Using antidepressant medication is a good thought for the insurance companies. They know the modern drugs for depression are very successful and can make all the difference in helping you. They also know you are seeing a doctor for your conditions and making a strong attempt to control your condition so you can lead a perfectly normal life.

On the other side of the coin however, if you are taking a long list of antidepressants and using high dosages. This could also mean your condition is either hard to control or it is not even controllable at all. At this point in time the insurance company you are applying with would ask additional questions to clarify everything. They will not jump to conclusions about how severe or mild your condition may be.


What You Might Not Know About Your Condition

  • Depression is the number 1 cause of being disabled throughout the whole world
  • Over 17 million adults have some form of depression in the United States
  • Over 400 people suffer from depression in the world
  • Depression is one of the leading causes of suicide in the United States
  • One out of every four children under the age of 16 suffer from mild depression 


Questions the Life Insurance Companies Will Ask

  • Have you ever been hospitalized due to depression?
  • Do you have suicidal tendencies or thoughts now or in the past? 
  • Have you ever attempted to commit suicide?
  • When did you first ever experience you had depression?
  • What medical classification of depression you have such as major depressive disorder?
  • When do you most recently experience your symptoms of depression?
  • What treatment do you mainly receive for depression?
  • Do you ever have to be hospitalized for this condition?
  • What type of prescription medications do you take daily?
  • Do you receive therapy by a Doctor on a regular basis?


The Best Life Insurance Companies:

Lincoln Financial

First started in 1905, A+ rated with AM Best with 9.6 million policies in force.

Protective Life

Founded in 1907, A+ Rated with AM Best with 6.6 million policies in force.

Banner Life

Started business in 1948, A+ Rated with AM Best with 18 million policies in force.


Originally founded in 1903, A+ Rated with AM Best with 7.6 million policies in force.

AIG American General

First started in 1849, A Rated with AM Best with 5.6 million policies in force.


Opened for business in 1874, A+ Rated with AM Best with over 22 million policies in force.

Make sure to connect with an independent agent which represents all the top rated companies. Selecting the most applicable company to apply with is the key to getting the lowest rates.

The Seven Main Types of Depression

Not everyone has the same type of depression. Some forms of depression are worse than others and affect people differently. Let’s take a look at the seven most common types of depression we know about today:

Bipolar Depression

Just about everyone has heard about bipolar depression which was originally name Manic Depression years ago. Bipolar depression patients experience dramatic lows and then very extreme highs like a roller coaster. Patients can also experience times of very high energy and racing thoughts in their minds. Usually bipolar disorder can be treated with medical therapy and proper medications.

Situational Depression

Situational depression also known as Adjustment Disorder is caused by major life-changing situations or events that create a lot of stress for the individual. Just about all of us experience this type of depression from time to time. This is an extremely common type of depression experience by millions of people around the globe. This can be caused by fires, tornados, car accidents and just about any other stressful event possible. Normally medication is not needed. Many people will reach for a good stiff drink and that is it.  

Psychotic Depression

Psychotic depression normally requires more medical attention than some of the other forms. One of the issues with this form of depression is that the patients actually hear sounds and can see sights that are not there in reality. In other words they are having delusions. This is a frightening experience for the individual because some of the sights and sounds can be monster-like or evil spirits.

Seasonal Depression

Seasonal depression usually shows its face during the winter months when you feel like you are trapped in the house for months on end. This is most common with people who live in states that experience cold and icy winters with a lack of sunlight. The symptoms can get worse with each passing month until finally Spring arrives.

Dysthymia Depression

This is known as a mild form of depression which can give the person a feeling of sadness and also causing problems sleeping at night. Normally this condition does not prevent people from doing their normal daily activities. Usually dysthymia does not require medication but some therapy usually will suffice.

Major Depression

Major depression is one of the more extreme versions of depression that affect people from going about doing their normal lives. Individual with major depression have feelings of less physical energy, intense irritability, insomnia and major changes in their eating habits. Treating major depression is treated with various medications and professional therapy by a doctor.

Postpartum Depression

This is a unique form of depression that normally affects new mothers. The statistics show that over 80% of all new mothers feel sad after having their new baby. Approximately 20% of these mothers are diagnosed with postpartum depression. The symptoms are tiredness, mild anxiety and sadness. This condition can also give the new mother a feeling of possibly harming the baby (by accident). This causes the mother to pay less attention to the baby during the first year after birth.


What You Need to Know Before You Apply!

Needless to say, your going to want to get the very best rates possible. It pays to get organized and prepare before you actually submit your application. Here is a brief checklist you can follow to help you get the best life insurance rates with depression.

  • Compose a list of all your relevant medications you take for depression and the exact doses. You will need this information when you apply.
  • Construct a basic list describing how the depression affects your everyday life and how your condition has improved with therapy and medication.
  • Your insurance company will obtain your medical records along with any of your doctors notes immediately after you submit your application. You will need all these records and sometimes when the insurance companies request them, it could take a month or more before the doctor’s office submits them. You can really speed up the process this way. 
  • Make sure your agents carefully runs a medical pre-screen so you can make sure you are going to apply with the most applicable company that will offer you the lowest rates.

A little preparation just before you sit down to apply can make the application process smoother and eliminate any potential surprises later.


Can I Apply for Life Insurance Without Taking a Medical Exam?

You definitely have the option of applying without having to take a medical exam. These types of policies like the namelife insurance with depression photo implies are No Medical Exam life insurance policies. They usually cost a little more than the full underwriting type policies but you won’t have to worry about the smell of alcohol and the blood test everyone dislikes including myself.

The only condition that could change the application process is if you have a severe case of depression where the carrier has to collect more information. No medical exam policies also have a very short approval time, sometimes between 24-48 hours.


Life Insurance Health Classifications

These classifications are otherwise known a rate classifications which finally determine your final rates. They are determined by the life insurance companies medical underwriting team.

There are three main tiers of health classifications which are:

  • Preferred Plus, Preferred, Standard Plus, Standard Classes
  • Smoker Rate Classes
  • Sub-Standard Rate Classes

Here is a full breakdown of these classes:

Preferred Plus:

This is not a rate class issued to people with depression. This class is also known as Super Preferred which is the very best classification you could ever receive. About 10% of applicant can qualify for Preferred Plus. You have to be in excellent health with the proper height & weight ratio, and your family history is clean and right on the money.


Very rarely does an applicant get preferred rates unless their depression is very mild. Preferred is an excellent rate class to be in. This will entitle you to have very low rates not quite as good as Preferred Plus but still very competitive.

You could have some minor issues like high cholesterol and high blood pressure. But it has to be controlled with medication. Most healthy people fall into this category if they are in good shape.

Standard Plus:

This can be a common rate class for people with mild conditions of depression. This is still a very good rate class to be in if you have a few health issues or possibly some height and weight abnormalities.

Many people fall into this rate class especially if they are in their 40s, 50s, or 60s. Their health is starting to have some health conditions arise which is perfectly normal in these age groups. You would still have to have a good family health history stemming from your parents.


This is a very common health class for people with depression. In the Standard class you would be experiencing some problems with height and weight, your medical tests are no longer squeaky clean and you might have a small list of medical conditions that are not terrible but you have to keep your eye on them.

This as a common class for people in their 50s and 60s but the rates are still very affordable. As you get older your health is naturally going to get tarnished. But this effect is perfectly natural and this is unavoidable as you get older.

Substandard With Table Ratings:

This rate class would be for people with more severe cases of depression. The Substandard rate class is not a specific rate class like the others above but it is a scale of table ratings that will be based on your health history graded by letters or numbers which would normally be either the letters A-J or numbers 1-10.

This is normally because you have a more serious health history, or you’ve had some recent medical setbacks. Such as a heart attack, heart surgery, a diagnosis of any complicated health problems.

The only way to find out what your actual rates will be, is to submit and application and lets the application process begin. There is no cost to apply and the insurance company pays for all related expenses. The insurance carriers control the rates and the agents will help you from beginning to end.

In Conclusion

Virtually all medical conditions either physical or mental are different from one another. If you are a depression patient there are many forms of treatment to help you. The same holds true for life insurance products also. 

Don’t let depression stand in your way from protecting your family members and dependents. We can easily find a great policy for you with a simple call over the telephone 7 days a week.

Check out our let’s get started page for more useful information for obtaining life insurance.

All the best,
Jack Venturi

Take a moment to setup a time for a telephone call at your convenience and get all your questions answered at no cost or obligation.


Jack Venturi Independent Life Insurance Agent

Jack Venturi

Independent agent and founder of

Jack Venturi has over 30 years of experience selling all forms of individual and commercial insurance including Property & Casualty, Health, Disability and Life insurance. Jack has helped thousands of people all across the United States purchase the best life insurance products at the lowest possible premiums over the phone (800)-897-5699 and online.