What You Should Know

• People who struggle with depression or have a history of mental illness may have limited options when it comes to a life insurance policy
• Most life insurance companies consider the severity of a person's depression
• It is possible to get affordable life insurance rates if you struggle with depression

Depression is an extremely common epidemic in today's society. Now more than ever, people of all demographics experience sincere and sometimes overwhelming battles with depression and other forms of mental illness.

If you struggle with depression or have a history of mental illness, you may wonder whether your mental and emotional state can impact your life insurance options.

Many life insurance companies take your mental state and history of mental illness into account when considering you as a potential policyholder. But there are plenty of life insurance companies that accept people with depression and other mental illnesses.

Just because you struggle with mental illness doesn't mean you can't find affordable life insurance for depression. But you will want to shop around for coverage to make sure you don't end up paying too much for coverage.

There are different ways to find life insurance quotes for people with depression, and one of the best options is to use the internet to compare quotes.

You can consult a life insurance guide to help you figure out what types of life insurance to consider and how much it might cost with your depression or mental illness.

If you are searching for life insurance rates for people with depression, you should consider using an online quote tool that compares multiple companies at once to show you which will give you the best price.

In fact, you can use our free quote tool above to buy life insurance for people with depression today.

What are the best life insurance companies for depression?

When you have depression, it can be difficult and tiresome to complete even the smallest task. So, if you're trying to find a life insurance policy while you're feeling depressed, don't be surprised if it feels a lot harder than you expected.

There are plenty of life insurance companies that will consider offering you a policy if you struggle with depression. But there are a few companies that people tend to specifically recommend.

The life insurance companies that are the most popular when it comes to life insurance policies for people with depression include:

• AIG
• Banner
• Brighthouse
• Lincoln
• Mutual of Omaha
• Pacific Life
• Protective
• Prudential
• SBLI
• Transamerica

If you are interested in any one of these companies, you can reach out directly and speak to an agent. If you disclose that you have a history of depression or other mental illness, you can also ask questions about how this might impact your life insurance rates.

But just because these companies are popular options for people with depression doesn't mean they will be able to offer you the best life insurance for depression. So you should still do your own research to find and compare quotes from other companies online to find out how much life insurance you need and how much it will cost.

Can I get life insurance with depression?

Do not stress about whether you'll be able to find a life insurance policy with a history of depression. The vast majority of life insurance companies will consider offering you a policy.

There are some stipulations for how your depression or other mental illness might impact your life insurance rates or even your ability to find and purchase a life insurance policy.

If you want to purchase certain types of life insurance, you will undergo a health screening. Your mental health will be something most potential life insurance companies ask about. Some of the questions you can expect with a history of depression include:

• Do you receive psychotherapy treatments?
• Do you take medication for depression or another form of mental illness?
• Have you taken medication for depression or another form of mental illness in the past?
• Have you ever been hospitalized due to your depression or another form of mental illness?
• When were you diagnosed as depressed?
• Is your diagnosis considered mild, moderate, or severe?

If you occasionally feel depressed, but you've never been formally diagnosed with depression or any other mental illness, it will not show up in your medical records.

Regardless of how you answer the questions above, there is a high likelihood that you will be able to find a life insurance policy. But you may have to pay higher-than-average rates.

Does depression increase life insurance rates?

There's no way to know whether your depression will increase your life insurance rates until you apply for coverage.

If you have a mild diagnosis, there's a high likelihood that it will not impact your life insurance rates at all. But if your depression is considered severe, or if you've had to receive past emergency treatment for your depression, you may end up paying more for coverage.

You should also take into account the other factors that life insurance companies consider. These factors include:

• Your age
• Your gender
• Your job
• Your health status
• Your family's health history
• Your history of smoking and tobacco use
• The type of policy you want to purchase

The factors listed above are more likely to impact your life insurance rates than your depression or mental illness, especially if you present a mild case.

To make sure you receive the best life insurance rates possible, you should do some research online and compare life insurance quotes from multiple companies to see what an average price might be.

Should I get life insurance if I have depression?

Just because you have depression doesn't mean you cannot get a life insurance policy. If you have debt in a home or a business, if you are growing your family, or if you have dependents, life insurance may be something you need to look into purchasing.

Don't let your depression curtail your efforts of finding an affordable life insurance policy that works for you and your loved ones.

Use our free quote tool below to find life insurance companies that accept people with depression and see how much you could save on your rates.