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How Does Anxiety and Depression Affect My Life Insurance Policy?

| March 22, 2023

 This is an informative blog. This is not meant to diagnose, treat, or do anything else other than to show how Anxiety and Depression can affect your life insurance rating or acceptance. 

     According to the World Health Organization*, the prevalence of anxiety and depression had a twenty-five percent increase worldwide. This large increase comes after the Covid-19 pandemic. This 25% increase affected woman and you people the most. One of the leading causes was stress. Medical uncertainties, financial uncertainties, loneliness, and fear have been said to be the leading stressors.  

     Before we try and see how anxiety and depression can affect your chances of getting life insurance, let us first see the difference between anxiety and depression. 

     According to the **Center for Disease Control and Prevention, depression is more than just having a bad day. It’s when those thoughts don’t go away, or if they interfere with daily functions, you may become diagnosed as depressed by a doctor or physician. Feeling sad or anxious often, withdrawal from activities, problems sleeping, problems with appetite, feeling tired, even after sleeping well, feeling guilty, helpless, or worthless, or suicidal thoughts are common symptoms of depression. 

     The Mayo Clinic states that having anxiety is just a normal part of life***. It’s when that anxiety is intense, excessive, and persistent that it becomes a disorder. Feeling nervous, restless or tense, sense of panic or doom, sweating, trembling, feeling weak or tired, an urge to avoid things or groups, are common symptoms of depression. 

     Treatment may include therapy along with goal setting and or medication. 

     Depending on the severity of your anxiety and depression, some companies may not offer you coverage, but with consistent treatment history some companies may offer you competitive rates. Your age, overall health, family health history, and other factors will also help to determine if you are eligible.  

If you have anxiety and depression and are looking for a life insurance policy, we recommend that you speak with an agent to try and find the best company for your current situation. In my opinion, when it comes to insurance, it’s not about the best plan, it’s about the plan that fits you best.