If you have a mental illness, may life insurance be denied to you?

Regardless of your current health, applying for life insurance can be stressful. If you’ve received a mental health diagnosis of any type, you could be even more concerned about the possibility of having your life insurance application rejected. Numerous carriers with the best term life insurance rating will accept applications from people with mental problems, despite the fact that life insurance applications might be rejected for almost any reason.

CAN A PERSON WITH A MENTAL ILLNESS GET LIFE INSURANCE? It’s possible to get life insurance even if you’ve had a history of mental illness. However, which insurance company you apply with will determine which life insurance coverage you are eligible for.

You’ll probably need to respond to a number of health-related questions on a life insurance application, including ones that touch on your mental health. Remember that if a medical expert has given you a diagnosis for a mental illness or has prescribed you any medicine for the disease, those disorders are regarded as pre-existing ailments.

WHAT THE APPLICATION PROCESS FOR INSURANCE CONTAINS When it’s time to apply for life insurance, you’ll have to complete an application, talk on the phone, and get a physical examination. Typically, blood and urine tests are included of the examination. The application may require a statement from your primary physician attesting to the information you provided therein.

DISEASES OF COMMON MENTAL HEALTH The following mental health conditions and disorders could have an impact on your life insurance application:

Bipolar illness Anxiety conditions Disorder of the borderline personality ADHD disorders of eating Depression Disorder of compulsive behavior Psychosis trauma-related stress disorder Because not all insurance companies inquire about mental illness throughout the application process, your chances of getting accepted should be higher.

CAN A MENTAL ILLNESS PREVENT YOU FROM OBTAINING LIFE INSURANCE? Your mental illness may lead your life insurance application to be turned down. Denial, however, is primarily motivated by the risk involved in providing you with life insurance. If there is a high risk associated with your lifestyle and health, your application might be rejected.

Not all mental illnesses are the same. A diagnosis of anxiety may not pose a significant risk to the underwriting process. On the other hand, your application can be turned down if you have a mental disease that carries a high risk of suicide.

DO MENTAL ILLNESS RAISE THE COSTS OF LIFE INSURANCE? You won’t necessarily pay more for life insurance if you have a mental disease. There is a good likelihood that your life insurance prices will rise as a result of your mental illness if the application you fill out includes questions about mental health. Keep in mind that your insurance company can see all of your mental health information and any previously purchased prescriptions.

the conclusion

It is still feasible to get life insurance if you suffer from a mental disease. However, the way each insurance company handles mental diseases during the approval process varies. Life insurance is not inaccessible for you, even if you have an eating issue or anxiety disorder. To learn more about the life insurance options we offer, contact Prudential right away.

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