Getting Life Insurance When You Suffer From Anxiety Disorder


It’s easy to assume that anxiety disorder would not be an issue when it comes to getting life insurance. After all, it’s generally not viewed as a physical disorder, so it’s easy to see why life insurance companies would not consider it to be a significant criteria. But actually, it can be – particularly if the disorder is severe.

What Is Anxiety Disorder?

Anxiety disorder is considered to be a problem when the symptoms reach the point where you are experiencing anxiety attacks, and outright panic attacks. Anxiety is a feeling of fear or worry that is out of all proportion to the threat being faced. An attack can occur if the symptoms progress to the point where the person loses control.

The frequency of the attacks is important, as repeated attacks can be an indication of generalized anxiety disorder, social anxiety, and panic anxiety.

Generally speaking, anxiety attacks and panic attacks can be treated with medication, and with psychological counseling. One of the complications however is that anxiety disorders often occur in concert with depression, post traumatic stress disorder (PTSD), and obsessive-compulsive disorder (OCD).

How Life Insurance Companies View Anxiety

Anxiety disorder is a risk factor for life insurance companies. Not only can anxiety disorder result in other psychological disorders, but it can also lead to physical complications, as well as limit the person’s ability to function normally in life, including the ability to earn a living.

A life insurance company will be interested in the following if you have anxiety disorder:

  • When you were first diagnosed with the disorder
  • What medications you are taking to deal with it
  • The frequency of your visits to health professionals to deal with the disorder
  • Whether or not you are seeing a psychiatrist
  • If you have ever been hospitalized due to the disorder
  • Whether or not you have ever had electroshock therapy for the condition
  • Evidence of thoughts of suicide, or outright suicide attempts

From this information, the insurance company will need to make a determination as to what level of anxiety disorder you have – mild, moderate, or severe.

If your condition is considered mild, you may be eligible to receive preferred best/preferred plus premium rates. This will be the case if your condition is well controlled, you are on no more than one medication, and you have not needed to seek the services of a psychiatrist.

You will be eligible for standard premium rate classification if your condition is deemed to be moderate. That will be defined as taking more than one medication, consulting with psychiatrist, and a history of hospitalization for the disorder.

If your condition is deemed to be severe, you will be table rated, which means that you will be charged higher premiums, and that you may even have to consider a guaranteed issue policy (no health questions or medical exam). A severe determination will generally apply if you have experienced thoughts of suicide, or have attempted suicide in the past.

Other Considerations With Anxiety Disorder

Whether your anxiety disorder will be considered to be mild, moderate, or severe, will depend mostly on your medical records. For example, if your records contain any references to attempted suicide, your condition will most likely be classified as severe, complicating your ability to get affordable life insurance.

The insurance company will also investigate your medication history, and determine the type of medications that you are on, or have been in the past, as well as how many you are currently using. This will also have a material effect on the classification of your disorder.

As is the case with any risk factor, the existence of still other risk factors will complicate your situation. For example, if you have anxiety disorder, and you also have hypertension and Crohn’s disease, you’ll pay higher premiums for your policy. In that situation, what will matter most is how well each condition is being controlled.

Managing Your Anxiety Disorder Proactively

The next most important factor in determining your ability to obtain life insurance, and at what rate, will be how you are managing your condition. It’s absolutely critical that you are following the prescribed treatment therapies, including regular doctor visits, counseling if needed, and faithfully taking any required medications.

How you manage your health in general is also a factor. Any time you have any kind of risk factor, you have to make sure that you are doing your best to maintain overall good health. That means maintaining proper weight, getting regular exercise, eating a balanced diet, and avoiding unhealthy habits, such as tobacco and excess alcohol consumption.

Who You Apply For Life Insurance With Makes a Difference

If you suffer from anxiety disorder, and you need life insurance, the last thing you want to do is to apply to any old company that’s out there. Different insurance companies take very different views of various conditions. For this reason, it’s absolutely critical that you make application only to those companies that take a more favorable view of people with anxiety disorder.

Unless you work in the life insurance industry already, it’s unlikely that you’ll know who those companies are. But we do! Life insurance is our business, so we know exactly which companies are likely to approve your application, and to do so at the best rates.

We work with many different life insurance companies, including those who are more accommodating when it comes to anxiety disorder. Give us a call, and put our knowledge and experience to work for you.