How To Buy Life Insurance After A Diagnosis Of Depression

DARIEN, Illinois (April 13, 2015) –, the online life insurance exchange that offers instant quotes from 50 leading life insurance companies and allows customers to buy from any company shown, has good news for life insurance shoppers who are recovering from a diagnosis of depression. Results from a recent life insurer survey confirm that many such insurers are willing to consider applicants who have been diagnosed with depression, but there are acceptance guidelines that one must meet in order to secure coverage.

The long litany of news headlines alone might be enough to make you depressed: Depression among Facebook users, depression among city dwellers, depression among new parents, depression among the aged, depression among the newly-retired, depression among the very poor, depression among the very rich, depression among the middle class, depression among those who work, depression among those who are unemployed. Where does it end? And what if you need life insurance because you have dependents or debts that you want taken care of just in case?

According to the National Institute of Mental Health, major depressive disorder is “one of the most common mental disorders in the United States.” Each year about 7 percent of U.S adults experience a major depressive disorder. Women are 70 percent more likely than men to experience depression during their lifetime. Non-Hispanic blacks are 40 percent less likely than non-Hispanic whites to experience depression during their lifetime. The average age of onset is 32 years old.

“Because we track the rates and underwriting guidelines of 50 leading life insurers, we are in a key position to help people, including those with medical histories, find life insurance at affordable rates,” remarked Vice President Michelle Zieba. “There is a lot of misinformation out there, perhaps because most life insurance agents represent only 1-2 companies, whereas our 50-company database can more thoroughly shop the market.”

The following chart of sample monthly premium rates shows the best possible prices for a life insurance applicant who has had a diagnosis of depression, is stable at time of application, and can meet all other underwriting criteria with no additional, ratable health issues. Quotes shown for amounts under $100,000 do not require a paramedical exam; quotes shown at or above $100,000 will require a face-to-face paramedical interview.

10-Year Level Term Life Rates, Diagnosis of Depression
Female Sample Monthly Rates
10-Year Level Term Life Rates, Diagnosis of Depression
Male Sample Monthly Rates

Zieba continued, “The key is to be forthright in all of your answers and hold nothing back because detailed medical history questions will be asked. Make sure you know your medical history in terms of prescription drugs taken, dosages and start-stop dates.”

Instant life insurance quotes at are available to consumer on an anonymous basis. Customers can view plan information, company ratings, underwriting guidelines and apply online or by phone to the company of their choice.

Common underwriting questions for applicants with a history of depression may include: How many times hospitalized? Any suicide attempts? Any time missed from work? Any history of substance abuse? Number of different medications taken? Applicants who do not qualify for the absolute lowest possible rates may be offered coverage at higher rates and also offers an array of life insurance plans that ask no health questions.

About 25 percent of the insurers could even award their very best rates to certain applicants with a history of depression. Attributes required to receive the very best possible rates can include:

  • if no time lost at work; no hospitalization; no suicide attempt or ideation; well controlled with a single medication prescribed by a regular physician, or
  • considered if no longer taking medication and if only one episode of less than 1 year, or
  • must be mild and resolved; no more than 2 medications; no anti-psychotic medications; no bipolar disorder; proven stability of symptoms and lifestyle; no hospitalization, suicide attempt, or time lost at work in the last 9 years advises all applicants to be honest in all of your answers and to keep in mind that the insurer you choose will require your permission to check your medical information, prescription drug history and driving record. Remember to answer each question truthfully because it is a crime in all 50 states to withhold requested information or make a misrepresentation on an insurance application.

Actual plan availability depends upon your age, state of residence, weight, overall health and other factors. Plans are not available in all states. The term life policies described herein are underwritten by one or more of the following companies: American General Life Insurance Company of Houston, TX under Policy Form #07007 and state variations ; American National Insurance Company, Galveston, TX under Policy Form # KC0910193 and state variations; Banner Life Insurance Company, Urbana, MD, and William Penn Life Insurance Company, Garden City, NY, both Legal & General America companies under Policy Form #ICC12OPTN and state variations; Fidelity Life Association, Chicago, IL, under Policy Form # F3600 and state variations; Independent Order of Foresters, Toronto, ON, under Policy Form # ICC73 770620 US and state variations; Life Insurance Company of the Southwest, Addison, Texas under Policy Form # ICC12-20112 or state variations; Minnesota Life Insurance Company, a Securian Company, St. Paul, MN, under Policy Form # F76777-15 and state variations; PHL Variable Insurance Company, a member of the Phoenix Companies, Inc, Hartford, CT under Policy Form # ICC14OL4907 and state variations; Prudential Financial/Pruco Life Insurance Company, Phoenix, AZ, under Form # PFT-2007 and state variations; Reliastar Life Insurance Company, Minneapolis, MN and Reliastar Life Insurance Company of New York, Woodbury members of the Voya Financial of New York, NY family of companies under Policy Form #1315-02/10 and state variations; Sagicor Life Insurance Company, Austin, Texas under Policy Form # ICC101000/1000 or state variations; Transamerica Life Insurance Company, Cedar Rapids, IA, under Policy Form # ICC12 TL18 and state variations; United Farm Family Life Insurance Company, Indianapolis, IN, under Policy Form # 18-364 and state variations and United of Omaha a Mutual of Omaha company, Omaha, NE, under Policy Form B630LNA07P and state variations Coverage is not available to New York residents. Premiums on level term life policies always increase after the initial rate guarantee period expires. These policies cover death by any cause in any place at any time subject to suicide exclusion within first two policy years (one year in some states).

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About is an Insurtech pioneer that caters to self-directed life insurance shoppers at  The company's innovative technology allows customers to instantly view quotes from 50 insurers and buy from the company of their choice on a paperless basis. The company's proprietary rating engine and illustration system also reveals underwriting guidelines for improved accuracy and customer transparency. LifeQuotes also provides life insurance telephone fulfilment services to larger organizations.

More than 400,000 people have purchased policies through since the firm's founding in 1984. According to Data Bridge Market Research, the Insurtech market is expected to witness market growth at a rate of 42.4% in the forecast period of 2021 to 2028 and is expected to reach $46 billion by 2028 as more and more self-directed consumers discover the benefits on buying online.

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Life insurance policies described, quoted, shown and illustrated in this press release may not be available in all states and certain terms may vary by state where required by state law. The supplemental policies described provide limited benefits and are NOT comprehensive health insurance or major medical insurance and they do NOT satisfy a person's individual obligation to secure the requirements of minimum essential coverage under the Affordable Care Act (ACA). For more information about the ACA, refer to Policies examined include American Family Life Insurance Company, Madison, WI, policy form ICC14-LD10001; American National Insurance Company, Galveston, TX, policy form ART 12; Assurity Life Insurance Company, Lincoln, NE, policy form I L1702; Banner Life Insurance Company, Urbana, MD, policy form ICC08-LIA, and William Penn Life Insurance Company, Garden City, NY, policy form LIA-WP, both Legal & General America companies; Foresters Financial of Toronto, Canada, under form ICC16 770620; Haven Life Insurance Agency, Issued by C.M Life Insurance Agency, LLC, a subsidiary of Massachusetts Mutual Life Insurance Company (Mass Mutual) of Springfield, MA. Policy form # ICC19PCM-SI 0819); Lincoln Life & Annuity Insurance Company of New York, Syracuse, NY, policy form LEF06321-18_7-10, and The Lincoln National Life Insurance Company, Fort Wayne, IN, policy form LEF06321_5-12, both insurance company affiliates of Lincoln National Corporation, whose marketing name is Lincoln Financial Group; John Hancock Life Insurance Company (U.S.A) of Boston, MA 02117, on policy form number ICC16 2016TERM and John Hancock Life Insurance Company of New York, Valhalla, NY 10595, Minnesota Life Insurance Company and Securian Life Insurance Company of St. Paul, MN under policy number F76777-15; Pacific Life Insurance Company of Newport Beach, CA, policy form P16YLT. North American Company for Life & Health Insurance, Chicago, IL, policy form LS174; Penn Mutual Life Insurance Company of Horsham, PA, under policy form ICC13-LT; Principal Life Insurance Company of Des Moines, IA, under policy form ICC17 SN 104; Protective Life and Annuity, Birmingham, AL, policy form TI-15; Pruco Life Insurance Company of New Jersey, Newark, NJ, policy form ORD 96200-2010.