Life Insurance With Mental Illness [2022 Guide]

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If you’ve ever felt like your mental health is impacting your life, then this article may be for you. In this blog post, we will discuss the ins and outs of life insurance with mental illness. This blog post will cover what to do when applying for a policy, how to go about finding one that suits your needs, and everything else in between! We’ll also include some helpful tips on where to start if you’re struggling with depression or anxiety.

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Can I Get Life Insurance If I Am Mentally Ill

Many people ask, can you get life insurance with mental Illness? Yes!

In the first place, your mental illness will not be an issue for many carriers.

Just understand that mental disorders are pre-existing conditions and each carrier will look at you differently.

With this in mind, they all have different guidelines.

Life Insurance For Those With Mental Illness

Life insurance carriers will want to know how well managed your mental illness is.

Underwriters will have several questions, such as:

• What is the diagnosis?
• When were you diagnosed?
• What medications are you currently taking? Dosages? And for how long?
• Do you see a primary care doctor or a psychologist?
• Have you been hospitalized in a mental facility? If so, for how long? How many times? And when?
• Suicide attempts? When? How many times?
• Are you on disability? Or unable to work due to your mental health condition?
• Are you a Veteran?

Life Insurance Quotes for Mental Health

What is the best life insurance policy for pre-existing conditions?

Well, that depends, the above underwriting questions will help the carrier determine which type of policy you will qualify for.

In fact, two types of life insurance policies are:

1. Standard term or whole life insurance ~ release of your medical records, physical exam, prescription history, and your family history and personal history background will need to be provided.
2. Guaranteed issue policies ~ this type of policy is your last resort if you do not qualify for standard. In general, it depends on how severe your condition is. You will not have to take a physical exam. Also, there are no medical questions asked. You must be between 45-85 years of age. The death benefit is limited to $20,000 in coverage.  Above all, the main condition of this policy is that you pay your premiums.

Best Life Insurance Company For Those With Mental Illness

Prudential Life Insurance Company

AIG (American General) ~ Guaranteed Acceptance

What Are The 6 Most Common Mental Disorders

PTSD ~ anxiety disorder after you have been in a traumatic event or witnessed a traumatic event.
Eating Disorder ~ bulimia and anorexia.  In fact, foods are a way for you to deal with depression or anxiety.
Psychotic Disorder ~ hallucinations and delusions.  Affects your thinking and your speech. You may hear voices.
Anxiety Disorder ~ tense, scared or worried feeling.
Obsessive-Compulsive Disorder ~ obsessions are thoughts, worries or urges that continue to appear in your mind. Compulsions are the activity that you do to control the anxiety that is caused by your obsession.
Bipolar Disorder ~  an extreme mixture of manic moments and depressing episodes.

Is My Mental Illness A Pre existing Condition

Can you get life insurance if you have a pre-existing condition? Another great question, can you get life insurance if you have mental health issues? Yes and yes!

Is ADHD A Mental Disorder For Life Insurance

Does ADHD affect life insurance rates?  Important to understand, underwriters will assess your ADHD.

In other words, they will want to know if you are well managed.

For instance, underwriters will want to know if you are at risk for other medical conditions or lifestyle habits that will be a risk to the insurance carrier.

PostPartum Depression Life Insurance

Postpartum depression is a serious condition.

It is an illness after childbirth (typically within the first three months) that will make you feel sad and hopeless.

In particular, some women have difficulty caring for themselves or their babies.

For one thing, some carriers will put you in the general depression category, although postpartum is usually temporary.

With this in mind, it is a good idea to get life insurance at the beginning of your pregnancy.

Otherwise, you are at risk for increased rates.

Life Insurance Discrimination Mental Health

The Equality Act 2010 protects you from unfair treatment regarding your mental illness.  For more information, CLICK HERE.

How Do People Shop For Life Insurance

That is simple.

You call us here at PinnacleQuote Life Insurance Specialists.

To point out, we shop YOU to over 50+ insurance carriers!

Another key point, by doing the shopping for you, we save you time, money and more importantly, frustration!

In fact, in less than a 10-minute phone call, you will know if you qualify, which A+ Rated carrier you qualify with, and at the most affordable rate!

Call us today, (855) 380-3300 ext. 2. Ask for Lisamarie.

Conclusion

It’s true that life insurance isn’t the most exciting topic to think about. But when it comes down to it, your family and loved ones are worth a little inconvenience now for their safety later on in case something should happen.

You know yourself better than anyone else does, so you’re best equipped with understanding how much coverage is right for you. And hey, if this post wasn’t as boring as some other posts out there–you can thank me by getting a quote today!