Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Sep 28, 2021

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The Facts of Life

  • Life insurance premiums will vary depending on the severity of the insured’s depression
  • Inconsistent treatment for anxiety could result in the potential insured being denied coverage
  • Misrepresenting mental health history can result in the potential insured being denied coverage

How does one go about finding the best life insurance companies that offer life insurance for people with anxiety? Are there life insurance companies that don’t offer life insurance for people with anxiety?

We are going to go through which of the best life insurance companies offer coverage to those with anxiety. Furthermore, we will be showing you how to save on your rates and the benefits of comparing quotes.

Before diving into our analysis of life insurance companies that offer life insurance for people with anxiety, type your ZIP code into our free and helpful tool above. You’ll find the most affordable quotes in your area.

Life Insurance Companies That Offer Life Insurance For People With Anxiety: Policy Types

Provided you’ve chosen an insurer that offers life insurance for people with anxiety, what type of coverage can you expect?

Should the insurer sell you a policy, it will almost certainly be of the standard variety. Let’s look at rates for a 20-year life insurance policy worth $500,000. The data is for various ages and genders.

Average Monthly Life Insurance Rates Based on a 20-Year Life Insurance Policy Worth $500,000 by Age and Gender
Age and GenderAverage Monthly Super Preferred Life Insurance RatesAverage Monthly Preferred Life Insurance RatesAverage Monthly Standard Life Insurance Rates
30-Year-Old Female$16$19$30
30-Year-Old Male$19$24$35
40-Year-Old Female$24$30$44
40-Year-Old Male$55$65$97
50-Year-Old Female$28$35$56
50-Year-Old Male$70$83$130
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As you can see, a standard policy costs more than a preferred life policy or super preferred life insurance policy. Even still, the rates are fairly competitive.

With this standard plan, does insurance cover anxiety medication? Health plans usually do cover anxiety medication, but you will want to inquire ahead of time. There’s also typically a formulary (a list of covered drugs).

Let’s wrap up by seeing how well-reviewed the major insurers are.

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Life Insurance Companies That Offer Life Insurance For People With Anxiety: Company Reviews

A.M. Best is a terrific organization for insurance shoppers to look into. This organization determines the financial strength of any given insurer.

The following table shows the ratings given to the largest insurers in the United States:

A.M. Best Ratings of the Best Life Insurance Companies
CompaniesA.M. Best Rating
AllstateA+
Banner LifeA+
Guardian LifeA++
Haven LifeA++
John HancockA+
MassMutualA++
Mutual of OmahaA+
NationwideA+
New York LifeA++
Northwestern MutualA++
Pacific LifeA+
PrimericaA+
PrincipalA+
ProtectiveA+
PrudentialA+
State FarmA++
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As you can see, there are quite a few companies that even hold A.M. Best’s highest given rating: “A++.”

What does the insurer need to know about people with anxiety?

According to the National Alliance on Mental Illness (NAMI), over 40 million adults in the United States have an anxiety disorder.

What are the symptoms of anxiety? Emotional symptoms include:

  • Feelings of extreme apprehension, even dread
  • Consistently tense or jumpy
  • Irritability and restlessness
  • Anticipation of the worst outcome

Are there any physical symptoms?

  • Sweating and tremors
  • Racing heart and shortness of breath
  • Headaches, fatigue, and sleeplessness
  • Upset stomach, higher-than-average urination, and diarrhea

When applying for life insurance, the provider will be asking about health history. This includes mental health diagnoses such as anxiety.

Can you get life insurance with anxiety? Almost certainly, but some insurers will be increase rates. However, the way in which the insured deals with the anxiety is a factor.

The insurer will want to see that the insured has taken steps to combat anxiety, i.e. therapy. This is the best way to get life insurance with anxiety: consistent self-care. What are they looking for on the negative side?

Primarily drug and alcohol abuse (a common occurrence for those with anxiety). Will you be denied life insurance because of drug use? It depends on the extent of usage, but be honest with the insurer.

Let’s move on and see the difference between smokers’ rates and non-smokers’ rates.

How does smoking affect life insurance rates?

Cigarettes (or vaping devices) are going to be seen by life insurance companies as harmful. This is like alcohol abuse, but cigarettes can be even more devastating to life insurance rates.

Let’s look at term life insurance rates for non-smokers:

Average Monthly Term Life Insurance Rates for Non-Smokers
Age
$100,000/10-year Average Monthly Rates
$100,000/20-year Average Monthly Rates
$100,000/30-year Average Monthly Rates
Non-Smoker
Male
Female
Male
Female
Male
Female
25$8.27$7.57$10.03$9.06$13.29$12.41
30$8.27$7.57$10.12$9.24$14.08$12.94
35$8.27$7.57$10.12$9.42$15.31$13.11
40$9.86$9.15$12.50$11.18$19.45$15.84
45$13.38$12.50$17.95$14.96$28.51$21.91
50$17.78$15.40$27.19$20.50$48.58$32.12
55$22.53$18.83$38.37$28.60$83.60$57.99
60$37.14$25.61$68.64$46.11N/AN/A
65$59.93$37.93$113.61$72.07N/AN/A
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Now, let’s compare these rates to term life insurance rates for smokers:

Average Monthly Term Life Insurance Rates for Smokers
Age
$100,000/10-Year Average Monthly Rates
$100,000/20-Year Average Monthly Rates
$100,000/30-Year Average Monthly Rates
Smoker
Male
Female
Male
Female
Male
Female
25$18.57$15.93$22.53$17.78$35.02$28.95
30$19.80$16.28$24.46$19.62$39.86$33.35
35$21.47$16.90$27.28$22.09$49.02$39.86
40$26.93$22.79$38.90$30.27$69.78$57.99
45$36.26$31.68$55.53$42.06$111.67$85.27
50$52.98$41.89$84.13$60.54$153.65$115.54
55$78.23$56.58$126.54$88.70N/AN/A
60$113.87$84.04$195.80$131.21N/AN/A
65$173.36$117.83$299.64$209.97N/AN/A
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As you can see, smokers’ rates are at least double those of non-smokers. Once one’s age reaches the 50s or 60s, even more so.

Let’s move on to what type of policy someone with an anxiety disorder can procure.

Now that you know more about life insurance companies that offer life insurance for people with anxiety, enter you ZIP code below to find the most affordable life insurance quotes in your area.