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: Oct 28, 2021

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The Facts of Life

  • People with bipolar disorder may be charged an additional 25% or more for life insurance depending on their overall mental health
  • Some companies assess mental health disorders—such as bipolar disorder—differently and often allow for better rates
  • If you are bipolar, you can purchase a guaranteed issue life policy with a graded death benefit as it will likely only require you to answer a handful of questions about your medical history

If you are bipolar, or you have a family member or loved one with bipolar disorder, you may be looking for life insurance for those with bipolar disorder.

Affordable life insurance for people with bipolar disorder can be difficult to find, but it is not impossible to do so.

Since insurance companies evaluate a person’s age and health when considering them as a policyholder, bipolar disorder has the potential to increase life insurance rates for those who have it.

Additionally, if you have bipolar disorder and also have additional physical, mental, or emotional health issues, you may have a hard time finding life insurance companies that will accept people with bipolar disorder.

Bipolar disorder has a bit of a stigma in today’s society. Because of this, many people who are bipolar feel anxious about pursuing something like life insurance, as most companies will require a medical screening as a part of the application process.

If you are bipolar, there is no reason for you to feel any fear or worry when searching for life insurance options.

Whether you are searching for term or whole life insurance, rates for people with bipolar disorder will vary from one company to the next. But you will likely be able to find a company you like that will meet your needs at a price you can afford.

The best thing you can do when searching for life insurance coverage is to shop around and compare quotes from multiple companies to ensure you are getting the very best deal you can.

In fact, you can use our free tool above today to start your search for life insurance quotes for people with bipolar disorder.

How much is life insurance with bipolar disorder?

Life insurance for mentally disabled individuals, or people suffering from mental or emotional disorders, can be expensive compared to standard life insurance rates.

The reason insurance companies may charge you more because of a diagnosis like bipolar disorder is typically due to mood swings, changes in behavior, and other serious symptoms that can significantly increase the possibility of risky behavior.

Insurance companies assess risk based on these factors, so individuals who are diagnosed with bipolar disorder often present more opportunities for risk than some other policyholders.

With bipolar disorder, you can expect your rates to be at least 25% higher than standard life insurance rates.

The table below outlines the monthly rates for a $100,000 whole life insurance policy and highlights the differences between standard and potential rates for a person with bipolar disorder.

Average Monthly Life Insurance Rates for People with Bipolar Disorder: Standard Rates versus Substandard Rates
AgeStandard RatesSubstandard Rates (25% Increase)
25$89.31$111.64
30$102.53$128.16
35$120.59$150.74
40$143.03$178.79
45$173.48$216.85
50$213.28$266.60
55$269.01$336.26
60$355.44$444.30
65$474.85 $593.56
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As you can see, a 25% increase in life insurance rates can be quite a significant difference. And some companies could charge far more than 25% above standard rates depending on how they view your medical history and other portions of your application.

While you may be denied life insurance due to depression or bipolar disorder, it is far more common to be excluded from purchasing life insurance simply because the cost is too high.

Enter your ZIP code below to compare cheap life insurance rates.

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What is the best life insurance company that accepts people with bipolar disorder?

While there is no standard life insurance company for people with bipolar disorder, there are a few companies that handle mental disorders—such as bipolar disorder, anxiety, and depression—differently than the rest.

These companies allow policyholders more freedom when it comes to mental health diagnoses, and they often help certain people qualify for either preferred or standard life insurance rates:

  • AIG
  • Banner
  • Brighthouse
  • Lincoln
  • Mutual of Omaha
  • Pacific Life
  • Protective
  • Prudential
  • SBLI
  • Transamerica

The companies above typically assess mental health based on a variety of factors the fluctuate from one person with bipolar disorder to the next.

The factors most companies gauge often include:

  • The amount and type of medications you take
  • When you were diagnosed
  • Any past or current psychotherapy treatment
  • Prior hospitalizations due to bipolar disorder
  • The stability of your personal life (work, school, family, etc.)

Each company will rank these a little differently.

What are the life insurance companies that won’t accept people with bipolar disorder?

It is not common to hear of any life insurance companies that strictly won’t offer their products to a certain demographic—like people who have bipolar disorder.

Instead, it is far more common to learn that many companies charge such high rates for life insurance that people with bipolar disorder simply cannot afford to purchase the product.

When you search for life insurance coverage, it is important that you compare rates from a lot of different companies. This way, when you are ready to make a decision, you know what average rates for you would be and can filter out anything that’s too expensive.

What type of policy is best for someone with bipolar disorder?

You are the only person who can truly decide what policy is best for you. There are a lot of options available, so it’s important to weigh the options before deciding on a policy type.

One option for individuals with bipolar disorder is a guaranteed acceptance life insurance policy with a graded death benefit. This type of policy is not as intrusive as others when it comes to your medical history.

Additionally, a guaranteed issue life policy with a graded death benefit will help your death benefit increase over time.

These policies are typically more expensive than standard life insurance policies, but you will never have to worry about losing your insurance because of your bipolar disorder.

Before making any final decisions on life insurance coverage, be sure to shop around and compare quotes. As you do that, you’ll be able to tell which companies will work best for you.

Don’t forget to use our free tool below before you buy life insurance for people with bipolar disorder to find the best rates available.