Mental health issues can lead to denied life insurance coverage, as many life insurance companies will not provide coverage if you have a history of mental health issues such as anxiety, PTSD, or self-harm.
However, it is possible to get life insurance even if you have a mental illness, although you may have to pay higher premiums.
Treatment can help improve your symptoms and make it easier to get life insurance coverage.
In some cases, such as an inability to work due to anxiety or depression, prior suicide attempts, or related hospitalizations, life insurance may be denied.
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Mental illness, like any illness, can affect your life insurance application. You can get life insurance even if you have a mental illness, but you might have to pay higher premiums. If you can show that treatment has improved your symptoms, it may help your life insurance application.
Does mental illness affect the cost of life insurance?
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It’s unlikely you’ll be denied life insurance coverage just because you have a mental health condition. You may pay more with some insurers, but others might offer you their most affordable premiums.
A complete guide to life insurance and mental health
If you treat your condition consistently, the drawbacks of a mental health illness on your insurability won’t be too severe.
However, circumstances such as an inability to work due to anxiety or depression, prior suicide attempts, or related hospitalizations can lead to denied coverage.
Mental Health, Depression, and Life Insurance - PolicyAdvisor