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Life Insurance Depression


Insurance companies may differ somewhat between those in the US and Canada. The one thing that they do have in common is that they all want to reduce their risks. When it comes to offering their insurance produces. Life insurance is one of the most important products that Insurance companies offer. With this type of insurance, the greatest risks come from health conditions. It doesn’t matter whether the insurance company is serving the US or Canada. They are going to get concerned about pre-conditions that have no borders. One of these is depression.

Why Do Insurance Companies Care About Depression as a Pre-Existing Condition?

One of the main reasons is because depression can affect an individual psychologically. It can also have an impact on their physical health. Both of which could raise the risks for insurance companies.

There are psychological factors of depression that could increase the risk for insurance companies which are:

Suicidal Thoughts

Individuals that harbour suicidal thoughts may act upon these. It could lead to their taking their own life. Most insurance companies will have a clause in their life insurance policies. That the policy will not get honoured if the cause of death is suicide.

Sleep Problems

Sleep deprivation can affect an individual in a variety of different ways. It can help to compound some of the physical problems that can come with depression.

Lack of Concentration

Lack of concentration can put an individual into precarious situations. They may be driving a vehicle and lose their train of thought. Or they could be operating machinery, and the same thing could happen. All which could lead to personal injury or even death.

Problems in the Workforces

Individuals with depression may end up missing a lot of work. It could cost them their job. This could affect the way they can pay their life insurance premiums.

On a Physical Level

There are concerns that it can compromise an individual’s immune system.

It can be a factor in high blood pressure.

It can cause fluctuation in weight..

All these are health factors that can lead to more serious health conditions. Ones that could increase the risks for the life insurance companies.

These are all conditions that the insurance companies are going to take a close look at.

Can You Get Life Insurance if You Suffer from Depression?

The good news is the answer may be yes. But it is going to depend on a lot of variables.  To begin with, there are many different forms of depression. Some more serious than others. While others are easier to treat and control. These are two important factors that insurance companies are going to take into account.

They are going to want to know why type of depression one has been diagnosed with. Also, they are going to want to know what type of treatments is getting used. Plus, they may want to know how long the individual has been diagnosed with this condition.

Each insurance company has its own criteria for dealing with pre-existing conditions. Some will be more lenient than others when it comes to providing life insurance. For those that get diagnosed with depression.

What Kind of Life Insurance May Be Available for Those with Depression?


There are many different types of insurance policies.

Individuals shopping for life insurance are going to find there are many different choices. For those with depression, their concern is whether their options will be reduced. It is all going to depend on the particular insurance company one is dealing with.

Some fall into certain categories of depression or have mild cases of it. They may be eligible for traditional life insurance.

Simplified Insurance

The conditions may be such that they are going to get the coverage they want. But it is going to cost them a lot more in their premiums. With this type of insurance, it also comes with some conditions. When it comes to the medical aspects of an individual. It may be that they do not have to have any medical exams done. They may have to answer questions related to health. There may not even be any health-related questions about depression.

Another Form of Insurance

Then there may be more insurance choices. There may be options to buy term life insurance. But with this, there will be an opportunity to buy it without even having to answer any medical questions. Plus, there will be no need for a medical exam. But it will come with some drawbacks. With this type of insurance and those with depression, they may not be able to get the amount of insurance coverage that they want. Some companies may give up to 25,000 in insurance coverage. And there may be a possibility of others that will offer more. The other issue may be that the premiums are going to cost more.

Do Antidepressants Affect Life Insurance Premiums?

There is another concern that insurance companies have. It is the types of medications that individuals may be taking. Many medications help to reduce some of the concerns of pre-existing conditions. Some medications have potential side effects. There are a lot of different types of medications that get used for depression. One that may cause an insurance company concern is Prozac. This is an anti-depressant. The concern is that it is a medication that is controversial. The health industry is not sure about what kind of side effects it can have on the body. It could increase some of the other symptoms. Ones that insurance companies get concerned about.

Can You Get Denied Life Insurance if You Have Anxiety or Depression?


A concern that a lot of people with depression have of course is that they’re going to get denied life insurance. They have to be cautious when shopping if they think that they may get denied. It could have an impact on their further shopping experiences. There have been cases where individuals have been denied. As a result of some form of depression such as anxiety disorder. Again every insurance company is different.  Each one is going to view depression according to their own merits. Individuals that suffer from this condition should not just assume that they are not going to get insurance coverage.