Options For Life Insurance With Anxiety Condition

By James Tobin, CFP ®

Critical Takeaways

  • Rate Impact Minor to Significant
  •  Pricing  Based on Severity and Frequency of Incidents, Hospitalizations And/or Missed Work Periods and Prescription Medication Use.
  • Both Standard Rates and Table Ratings  Are Possible Outcomes.

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Expert Review Of  Available  Options For  Life Insurance with anxiety

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Reviewed by

Jim Tobin, CFP®

Why you can have confidence in this review

At Bequest Mutual Life Insurance, we value our editorial independence. We keep our reviews strictly factual so you can use them to make informed decisions. Life insurance carriers referred to on this site do not approve reviews. 

While there is a lot to know about getting approved for a  life insurance policy with clinical anxiety, the eight  questions below are an excellent start. For more in-depth discussion just follow the links in the answer sections and keep reading. 

Whether you're dealing with serious generalized anxiety disorder, you know about the everyday challenges that you face. What you may not know is that obtaining life insurance with anxiety may also have its' challenges.

Can I Be Approved For Life Insurance With Anxiety ?

 Yes, it’s completely possible to obtain a  life insurance policy even if you suffer from mood disorders like depression or anxiety. However, your underwriting category and corresponding insurance premium rates will be dependent on how severe your condition is and your current state of health.

What information will  life insurance underwriting want to know?

Apart from a standard examination, your insurance underwriters will also request for information regarding any symptoms you might have experienced along with details of treatments that were prescribed and undergone, medication that was used, and follow-up reports. Additionally, you will also be required to disclose instances of missed work or hospitalizations occurring due to your condition.

Will I Need To Take An Exam For a  Life Insurance policy With Anxiety?

It could be possible. Healthy applicants with no black marks on their medical history are eligible for no-exam underwriting. However, the best term insurance rates are always reserved for those who undergo an examination. You might be able to circumvent this condition if you only have a mild condition.

If you’re adamant about not taking an exam, there are many other insurance carriers who will issue no-exam insurance policies. Reach out to us to learn more.

How Much Will My Life Insurance Cost And How Exactly Is The Rate Affected By My Mental Health?

Your insurance premium rates will all come down to what underwriting category the insurance carrier assigns you into. A mild anxiety condition is unlikely to affect your underwriting terms significantly. In such cases, your underwriting category will be mostly determined by conventional health markers and blood reports.

However, if you’re dependent on prescription medication and have a history of abrupt leave from work due to your condition, your application will be given a substandard rating. The rating is dependent on how severe your medical condition has been in the past.

How Accurate Are The Anxiety Life Insurance Quotes From This Site?

Our site’s insurance quote tool has been developed based on our decades’ worth of experience in the industry and therefore, provides the most accurate information you’ll find on the Internet. However, we should warn you that most people are poor judges of what rate class they actually fall into. They either overestimate or underestimate their condition and receive inaccurate quotes from the tool as a result.

You can simply input a range of values and find out what to expect if you’re not entirely sure of what underwriting category you might fall into. Alternatively, you could submit your information on our customized quote form and we’ll contact you at the earliest. 

How Can I Improve My Underwriting Score And Lower My Anxiety Life Insurance Rates?

We recommend using the services of an independent and experienced agent who has tier to different life insurance companies, instead of representing just a handful. This will help them match you up with companies that provide the best possible terms for your condition. Providing ample documentation of your compliance with your doctor’s advice and using your medication regularly can also help.

You should also make positive modifications to your exercise and diet along with cutting down on harmful habits like alcohol consumption and smoking, which will improve your blood reports significantly. 

What is The Best Life Insurance Company For Mood Disorders?

It’s a little-known fact that different insurance companies have different terms for certain conditions, which you can find out better upon a deeper analysis of their underwriting and pricing terms.

Our top three recommendations are AIG, Prudential, and Banner. They are the best companies for life insurance for applicants with mood disorders.

However, companies are frequently changing their internal regulations regarding their risk appetite. To ensure you don’t overpay for your life insurance policy, it’s always ideal to apply via an independent agent. This case study will help you understand this point better.

What is the  life insurance process for Applicants with  Mood condition?

Just like other conditions, the life insurance policy application process for mood disorders involves 8 different steps, including a medical examination, selection of a carrier, picking your insurance terms, and signing the documents. We’ve described the entire process in detail here.

Traditional Term Life Insurance with Anxiety

Although applicants with mild cases of anxiety do qualify for standard or better underwriting categories, some of them do get downgraded to a substandard rating as well. There’s a lot you can do to avoid being assigned a substandard rating - the most important of which is to utilize the services of an independent agent who has submitted applications of people with anxiety and has ample access to insurance carriers that are willing to offer favorable terms.

Obtaining life insurance with anxiety is similar to obtaining life insurance with AFib, sleep apnea, heart attack, and other such conditions.

Term life policies are available for periods ranging between 10 – 30 years with the 20-year policies being the most purchased variant. Their minimum face amount starts at $50,000. You may either terminate them once the period comes to an end or renew them annually at substantially increased rates.

What Life Insurers Will Take Into Consideration

When you apply for life insurance policies with an anxiety medications, underwriters will ask you the following details:

  • Information regarding your symptoms
  • Details regarding your diagnosis and treatments underwent
  • Followup and compliance reports
  • Your general state of health

Information will be collected from your insurance application, an interview over the phone, the Medical Information Bureau, an Attending Physician’s Statement (APS), and a Script Check.

What are/were your Anxiety Symptoms

Underwriters will also request information regarding your symptoms, the period for which you’ve had them prior to your diagnosis, and other details.

Here are some symptoms and signs of serious anxiety that your underwriters will ask you about (Source: National Institutes of Health).

  • Manic, anxious or persistent mood
  • Loss of pleasure or interest in activities and hobbies
  • Feelings of restlessness
  • An inability to concentrate, make decisions or remember things
  • Sleeping difficulties, either oversleeping or insomnia
  • Weight and/or appetite fluctuations

Your Diagnosis and Treatments

Your life insurance underwriters will request information regarding the first time you were officially diagnosed and details of subsequent flare-ups. You will also be questioned about your medications as well.

Although unclear information may be gathered from your official medical records, submitting your diagnosis and treatment dates is crucial if you want an accurate life insurance quote from the carrier.

Your Follow Up Care

Underwriters will offer favorable conditions if you can provide compliance reports proving that you’ve been taking prescription medication and keeping your doctor’s appointments regularly. Apart from prescription medication, your physician may also encourage you to use dietary supplements to improve your condition. You can check out Dr. Lisa Rankin’s article published in Psychology Today to learn about homeopathic solutions for anxiety.

Your Over all Health (and related conditions)

Although underwriters will also consider other health markers and conditions like gout and high cholesterol while processing your life insurance application with anxiety, certain underwriters will also look specifically for certain conditions linked to anxiety. You can check out this link at Anxiety and Depression Association to learn more about anxiety-linked medical conditions.

No Medical Exam Term Life Insurance with Anxiety?

You can now find term life policies that use accelerated underwriting measures for approval. No medical examination is required during the application. This measure is only available to applicants suffering from mild cases of anxiety and maybe denied to people with a severe case of clinical anxiety.

You’ll also have to undergo a paramedical examination, which will be conducted by a traveling nurse. It won’t take you more than 15 to 20 minutes and will only involve a blood test, urine test, and height and weight measurements. You can find more information regarding this medical exam here. 

Likely Underwriting Ratings with Anxiety

We’ve divided the likely scenarios into three different cases based on our estimates, complete with pricing estimates as well.

Best Case Scenario – People with mild anxiety whose symptoms are well under control and have been complying with their doctor’s advice will qualify for a preferred or standard rating.

Mid Case Scenario – People using moderate-grade anxiety medicines but with a good history of compliance may be issued a substandard rate. Calculate this by multiplying the standard rate with 1.5 (Refer to Table 2/B).

Severe Case – If you have severe anxiety and require heavy-duty medication and have a history of suicidal thoughts/attempts, you might only be able to qualify for a severe substandard rate. Multiply the standard rate given here with 2 to arrive at the substandard rate. 

Pricing For Term Life Insurance

Pricing basically comes down to how well you can present your case and which insurance carrier you choose to submit your application to. Life insurance is not always a neat affair and you may find yourself overpaying to a great extent if you’re not careful. You can find more information in a nifty case study provided down this article.

$250000 10 Year Term Female



Table  B

Table D





















$500000 20 Year Term Male



Table  B

Table D





















$200000 20 Year Term Female



Table  B

Table D





















$100000 10 Year Term  Male



Table B

Table D





















Case Study Pricing Policies with Anxiety

Please see the case study below, it will show why it is in your interest to have as many options as possible available when shopping for life insurance with anxiety or any other impairment.

Gender: Male Age: 45

$500000 20 Year Term

Tobacco: No

Controlled clinical anxiety Diagnosed Age 39

Uses 2 RX No Other Health Concerns

This looks like a best case scenario that could be either standard or table 2/B or 4/D depending on the insurers appetite for an anxiety risk. Let's take a look at the rates.

  • Standard
  • Table 2/B 

Life Insurance Company

Monthly Payment

$ 95.25

$ 98.08

$ 99.93

$ 112.50

$ 130.50

These tables contain premium pricing information from major life insurance carriers, which can help you compare their rates easily. In the standard underwriting category, Prudential is around 33% costlier compared to Banner.

While this might seem like an easy no-brainer, it’s not always the case. A person who has been assigned a standard rating by both companies should definitely go for a policy from Banner.

However, people with anxiety or depression may find it more complicated.

Since life insurance companies have different risk appetites for the same conditions, you’ll often find that applicants are assigned into different underwriting categories by different companies for the same condition.

For instance, a person taking anxiety meds will find Prudential the better choice here because Prudential might be willing to give him a standard rating whereas other carriers may give him a substandard rating, despite having the same condition. The price difference between Banner @ Table 4 and Prudential @ Standard comes to around 38%, which is no ordinary sum. Having an independent agent work on your application can help you obtain the best possible deal and overcome issues like the one we just explained now. 

Your Next Step

Now that you know the information you will need to receive the most accurate quote possible, it's time to gather the information and speak to an independent Agent (raising my hand). 

We are committed to totally transparent pricing (we'll even share our computer screen with you if you'd like), and making the application process as painless as possible.

Simply give us a call or shoot an email over and we can get you started.

Thank you for reading about life insurance with anxiety, if you have any questions, We'd like to hear them.

Fast Facts about Anxiety

The Mayo Clinic defines anxiety as a  persistent feeling of fear, out of proportion to any actual danger, that is difficult to control and  interferes with daily activities.

Clinical anxiety  isn't a weakness and you can't simply "snap out" of it. More than just a bout of nerves , clinical anxiety may require long-term treatment.

40 million people in the United States are believed to suffer some form of anxiety.

Some of the famous people who have suffered from major anxiety include: actresses Scarlett Johansson, Kim Basinger, musician Adele, and major league baseball player Joey Votto.  

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