Mental Health and Life Insurance

Does your mental health affect your life insurance? It might not be something you’ve ever thought about before now, but with one in four adults suffering from a mental health issue at some point in their lives, it’s a valid question. 

In this article I’m going to be discussing Mental Health and Life Insurance.

More accurately how it might impact on your Life Insurance policy. 

You might be wondering:

“What mental health conditions are covered?”

“How are your premiums going to be affected?” 

And the big one:

“How easy is it to get cover in the first place?”

“Mental health issues have been somewhat of a taboo subject in the past.”

Fortunately, in recent times, it has become a topic which people are much more willing to discuss – in particular how it affects their day-to-day-lives. 

With that in mind it’s no wonder that many people are openly asking how it will affect their Life Insurance applications.

Is it possible to get insurance if you suffer from anxiety or depression? 

How about panic attacks or conditions such as bi-polar? 

And what about for those who may have attempted suicide? 

Sobering questions, and the short answer is ‘yes’, although there will be some factors that your insurer will wish to consider. 

Let’s take a closer look.

What Is A Mental Health Condition?

‘Mental health condition’ is a broad term that describes a condition that has an impact on our emotional well-being, psychological behaviour, and mood. 

It includes things such as depression, anxiety, and stress – common conditions that we may all be affected by from time to time.

It also includes rarer conditions such as bipolar disorder or schizophrenia. 

Different mental health conditions will impact differently on your Life Insurance application depending on factors such as how severe and how recent the condition was. 

For example, a past case of mental illness is going to have much less impact than a condition you are currently living with day-to-day.

The good news is that it is possible to get Life Insurance cover for a wide range of mental health conditions including:

  • Anxiety
  • Depression
  • Stress
  • Bipolar
  • Panic attacks
  • After self-harm
  • After a suicide attempt

Let’s just lump those first three together for a second. 

Anxiety, depression and stress are among the most common mental health conditions.

It’s likely that you will be asked the same questions on your policy application when it comes to all three. 

In addition to the standard medical questions that apply when you are taking out Life Insurance you might also be asked:

  • 1.If you have any ongoing symptoms
  • 2.The dates and details of severe attacks/symptoms
  • 3.Details of any time you have had off work in the last 12 months because of your condition
  • 4.Details and dates of any treatment such as medication or therapy
  • 5.Details of any self-harm or suicide attempts
  • 6.Details and dates of any hospital admissions

How Will My Mental Health Affect My Life Insurance Premiums?

Basically, there are four possible outcomes if you apply for Life Insurance and have a history of, or an ongoing mental illness:

  1. You Will Be Accepted With No Increase To Your Premiums 
    • This is the most likely outcome for those who list anxiety, stress or depression as a mental health condition
  2. You Will Be Accepted With An Increase To Your Premiums
    • This is often referred to as a ‘rating’. Basically, you’re gonna pay a bit more.
  3. You Application Will Be Postponed
    • This means that the insurance company is going to say no to insuring you right now, but may well change their minds in the future. 
  4. You Will Be Declined: 
    • It’s a big fat NO.

So, under what circumstances might your Life Insurance application be postponed or declined?

  • If you have been admitted to hospital more than twice because of your mental health condition
  • If you have been admitted to hospital due to your mental health condition in the last 12 months
  • If you have attempted suicide or have self-harmed in the last 5 years
  • If you have attempted suicide or self-harmed more than once in the last 10 years

It’s worth noting that these are not universal rules in the world of insurance and being declined by one provider doesn’t mean that you won’t find cover elsewhere.

How Will Rarer Mental Health Conditions Affect My Life Insurance?

At the beginning of the article I mentioned some of the rarer mental health conditions such as bi-polar and schizophrenia. 

The good news is you will still be able to get Life Insurance cover if you suffer from those. 

BUT you may be looking at higher premiums than those who suffer from stress, anxiety or depression.

This is simply because each of these is considered more of a chronic and specified illness.

Will An Insurer Need To Speak To My Doctor About My Mental Health Before I Can Get Life Insurance?

No, not necessarily. 

As with any type of illness covered by your Life Insurance, the problems only really occur if you haven’t disclosed all the necessary information on your application form. 

In other words you’ve either missed out some important info by accident, or you’ve told a big, fat porky pie – either way, it could end up being a costly mistake.

If you are able to give clear information on dates and medication, then the insurance company will make their decision based on the information you provide. 

Does A Life Insurance Policy Cover Suicide?

A delicate subject matter, but largely yes. 

However, most insurance policies will have a clause excluding any claims due to suicide within the first 12 months of taking out the policy.

If you would like to get a quote, or if you have any more questions about securing Life Insurance whilst living with a mental health condition, we recommend speaking to a qualified advisor.

Like me! 

Me or someone from my team would be more than happy to help with any questions you may have, and our advice is without obligation.


I’m the Life & Critical Insurance guy! Having worked throughout London and the South East for years in this industry, seeing many bad habits, I wanted to create a company that put the man on the street first! I wanted to share all my knowledge in a way that was easy, simple and fun to read and I wanted to make sure whenever I or a member of my team speak to a customer, we cut out the ‘industry jargon’ and never pressure or push anyone to take out a policy they don’t want or understand, thus More Than Money was born!

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