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Depression life insurance

Life insurance for people with depression can be affordable and stress-free if you know where to look or who to speak to.

People with depression can get life cover to protect their families and loved ones. Getting the best coverage and paying a fair price for life insurance is important so it’s better to speak to an expert.

People with depression can usually easily get life cover but it’s not always easy to talk about your mental health.

According to the leading mental health charity, mind.org.uk, 25% of the UK population experiences some kind of mental health every year. 1 in 6 will experience common mental health problems (anxiety or depression), on a normal week in England.

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About depression and life insurance

People who have depression are often put off applying for life insurance. This might be because you don’t think you can get cover, or you just don’t want to talk about your mental health with a stranger.

Can you get life insurance if you have depression?

Yes – it’s often far easier and cheaper than you might think to get life insurance for people with depression. One of the worst parts is having to talk about your mental health with a stranger and often over the phone.

Answering questions about your depression can be awkward or upsetting which is where an expert can help you.


Best life insurance for depression

Life insurance is the best way to protect your family’s financial future if anything should happen to you. There are three main types of life insurance which are:

Life insurance: this can be family protection or mortgage protection and will be the same for someone with depression as it is for anyone. Life insurance with depression will not exclude your mental health so this is a great option

Critical illness cover: you can get a critical illness cover policy with depression and often this will be the same level of cover as a standard policy. You may be offered a policy of this type with a mental health exclusion if you disclose depression

Income protection: a policy of this type will provide you with cover if you are unable to work for a period of time due to an accident or sickness. You might be offered cover with a mental health exclusion if you disclose depression on your application

Health insurance for depression: there’s also health insurance or private medical insurance cover which will provide payments for specialist treatment or care. Most of these types of policies will exclude any pre-existing medical conditions from when you take out cover.

Does depression affect life insurance?

Applying for life insurance with depression is the same as if you didn’t have this condition. The main difference is that when you tell the insurer that you’ve suffered from depression, you’ll be asked specific questions about it.

You’ll be able to get life cover with depression from most of the big insurance brands in the UK. Some reasons why your choices might be slightly different from a standard situation are:

  • Have you ever tried to or thought about taking your own life?
  • Have you ever thought about harming yourself or attempted to harm yourself?
  • Did you see a psychiatrist or therapist for your depression?
  • Were you admitted to the hospital overnight?

Life insurance questions can be slightly insensitive and especially around mental health. It’s important to be as open as you can be and declare everything that is relevant.

Does life insurance cover depression?

Yes – standard life insurance won’t exclude any pre-existing medical conditions. The only thing that will be excluded is claims for suicide in the first 12 or 24 months, which is standard for any new policy.

If you were to pass away due to anything connected to your depression then your family should be able to make a claim. As long as you disclose everything on your application then your claim will be paid.

Does critical illness cover depression?

Critical illness cover is often pretty easy to get for people with depression, as long as you apply to the right companies. When you apply for this type of cover there are a few things that you’ll need to consider:

  • How much cover do you need / what’s it for?
  • Do you want to cover certain conditions?
  • Will you accept a policy if mental health is excluded?
  • Do you want the best cover or the cheapest?

You’ll find that there’s a wide range of types of cover and you can get cover for different things as well. Critical illness cover with a history of depression might come with exclusions so be careful and make sure that you read your policy details thoroughly.

Note: With critical illness cover, cheapest is not always best.


Does depression count as a pre-existing condition?

When you apply for life insurance with a history of depression, you’ll be asked a specific question about depression. This will be:

  • In the last 5 years have you had depression?

If you haven’t had any issues with depression in the past 5 years, which means no treatment or symptoms, then you won’t need to declare it.

If you have had symptoms or treatment for depression then you’ll need to declare it as a pre-existing medical condition. When you declare depression, you’ll be asked a number of questions about it to help understand your mental health.


Can being on anti-depressants affect your life insurance?

If you take medication such as anti-depressants then you will usually be asked about that. A common question about depression medication is:

  • Are you taking prescribed medication or did you used to take prescribed medication?

You might then be asked whether your medication has changed, increased, or decreased since you started taking it. Your answers to these questions might have an affect on your life cover depending on the severity of your symptoms.

If you’ve recently changed medication then it might also be worth taking out cover and reviewing once things have settled again.

Does seeing a psychiatrist affect life insurance?

Not necessarily and it depends on a lot of factors which will include things like, have you seen a specialist. Psychiatric treatment can also be seen as a positive if it has helped you to treat your depression.

There are a few different ways to look at this and often it will depend on the insurer or the underwriter.

Generally, if you saw a psychiatrist a few years ago then it shouldn’t have an impact. If the treatment is current or ongoing then it might be taken in to consideration.

Can I claim on life insurance for depression?

You’ll usually be covered for anything relating to your depression if you already have a life insurance policy. If you’re taking out a new policy then you will just need to make sure that you disclose everything about your medical history and any mental health.

Life insurance generally does not have exclusions unless it’s suicide in the first 1 or 2 years. You might have exclusions on some other types of life insurance policies, as listed above.

Do you need to tell life insurance about depression?

You will be asked very specific questions about mental health which can be very personal and difficult to answer. It’s important to be as honest as you can but also only give information relating to the questions asked.

For example: If you are asked ‘have you suffered from depression in the past 5 years?’, then only answer if this is relevant to you. Some people might disclose information from over 5 years ago which isn’t relevant or required.

If you provide information to the insurer that is not relevant then it might be taken into account unnecessarily.

Note: Just be as honest as you can even though it might be difficult.

Does depression increase life insurance?

This is a difficult one to answer and we like to think about it in a different way, the price you pay for the cover should reflect your situation. Your premiums will be based on a number of factors which will include your mental health, general health, and lifestyle.

You can get cheaper life insurance with depression simply by shopping around and speaking to the right people. Some insurers will charge more than others for people with depression.

Where can I get life insurance if I suffer from depression?

Generally, it’s better to speak to an expert if you’ve got a pre-existing medical condition like depression. Some of the benefits of this can be:

  • Appropriate experience or expertise
  • Be able to help you and support you better than a standard company
  • Offer cover from a range of insurers that fit your needs
  • Should be able to save you money
  • Speak to someone who understands your situation and your needs

Questions people ask about depression

What’s the main cause of depression?

There’s no official or specific medical cause for depression. It can happen to anyone and can occur for many reasons, including bereavement, divorce, sickness, loss of employment, or financial problems. One of the other main reasons why someone might suffer from depression is because of another health or medical problem.

What are the 2 main types of depression?

There are several main types of depression which include:

  • Major depression
  • Manic depression
  • Psychotic depression
  • Situational depression
  • Peripartum (Postpartum) depression
  • Persistent depressive disorder

Depression can also be linked to a number of other mental health disorders such as Bipolar, Seasonal Affective Disorder (SAD), and stress.

What is the simple definition of depression?

Depression is also known as depressive disorder or clinical depression, it has an impact on how you feel, behave and think. It is a mood condition or disorder that can cause constant feelings of low mood or loss of interest.

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