The World Health Organization recently named depression as the #1 threat to global health, above poverty, cancer, and malnutrition. Fortunately for the millions of Americans who experience the symptoms of mental health issues each year, medical treatments and access to care are becoming much more widely available and much less stigmatized in society.
However, not all life insurance companies have caught up with the times, so it can be hard to find the best rates on life insurance if you have mental health issues. But if you are one of the forty million Americans who struggle with chronic anxiety or the 1 in 10 Americans who suffer from clinical depression, you can face high costs and even declined coverage when trying to protect your family or business with the best and most affordable life insurance.
Every day, Americans with anxiety and depression are being charged high rates to buy life insurance, or in certain cases, their applications are being declined outright. And what most people don’t realize is that these outcomes can remain on your personal underwriting record for years. Negative underwriting history is stored in a database that’s shared by many insurance companies, and can harm your chances for affordable coverage even years later, whether or not you still suffer from anxiety and depression.
The Truth About Life Insurance Underwriting for Mental Health Issues
Some insurance agents and websites will tell you the “best companies” for certain mental health issues, but the truth is that life insurance underwriting is an ever-changing environment. The list of qualifying factors is long – diagnosis, duration, medications, etc – and in any given month, different insurance companies can approach underwriting for anxiety and depression differently. Our proprietary UnderRight™ smart database tracks dozens of the top life insurance companies in real time, scoring the underwriters on their actual approvals and declines in real-world situations. With this deep knowledge and specialization, we can tell on any given day who will offer you the lowest life insurance premiums for anxiety and depression. That means no wasted time or energy applying with the wrong companies, and savings on your policy that will protect your loved ones for years to come.
If you are among the tens of millions of Americans who suffer from chronic anxiety and depression, the last thing you need is more stress and anxiety from your life insurance application process. With PolicyConnection you’ll know you have the best rate for your specific circumstances issued by a trusted life insurance company.
Let us connect you with a provider today!