There are ways that you can get term life insurance if you have depression. Life insurance companies are now more accepting of applicants who have a medical history of the condition. Making it much easier for you to obtain life insurance, even if you are a sufferer of anxiety or depression.
Anxiety and depression is becoming more common. With the current economic client, levels of employment on the increase, and war there are many people who are being diagnosed by their doctors. With levels and the severity of depression carrying between each individual patient.
If you want to apply for life insurance and you suffer with depression, there are companies that may consider your application.
The Things That Will Be Considered When You Apply For Depression Life Insurance:
- How long ago your were diagnosed
- Your age when you were diagnosed with depression
- The length of time from diagnosis to submitting your application for life insurance
- Which level of depression you have been diagnosed with
- The severity of the depression that you are suffering from
- How often the depression occurs
- Any medication that you may have been prescribed
- Whether or not you are receiving counselling for depression
- If you have ever been hospitalized due to the effects of your depression
- Whether it is mentioned in your medical files that you have attempted or considered suicide
- If your condition has stabilized
- Any other medical conditions that you may have
The level and severity of your depression will ultimately affect whether or not your application for life insurance is accepted. The premium rate increasing if you are considered to be a high-risk applicant.
Should you wish to apply for life insurance, and you suffer with depression you need to disclose all the relevant information. Your doctors name and contact details, a list of any medications that you may have to take. All information that the life insurance company will need to assess your application.
Any applications from people who suffer with depression that are made to a life insurance company are all judged on individual circumstances. So, the more detail that you can provide will speed up the lengthy process that may be involved. Some term life insurance companies will actually postpone applications if they need to make further investigations. Especially if medications haven’t yet been established, preferring to wait to see some results before making a final decision.
There are no guarantees that you will be able to get term life insurance if you suffer from depression. Life insurance companies usually do not provide cover for those that have tried, or considered suicide. They will also refuse applications from people who have Post Traumatic Stress Disorder (PTSD).
The quote that you receive for your life insurance if you suffer with depression will depend on quite a few factors. The premium price reflecting the level of risk that the life insurance company considers you to be. However, it is still possible to obtain depression life insurance.