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Depression Life Insurance

If you suffer from Depression and you need life insurance then you may find it difficult to get it at the right price, or you might simply want to speak to someone that understands your needs. In this section, we look at how easy it can be to get life insurance for people who suffer from Depression, and how the process works.



How it works

Underwriting for life insurance with Depression will depend on a number of key factors, such as:

  • Age at diagnosis
  • Any event relating to diagnosis
  • Most recent attack / episode
  • Any instances of self-harm
  • Suicidal attempts
  • Medication / Treatment / Counselling

The Insurance Surgery has a vast amount of experience in working with people who suffer from Mental Health problems and we work with a number of major mental health charities, such as Mind and Rethink.

Case Study 1

  • Client: Male
  • Age: 42
  • Smoker status: Non-smoker
  • Medical conditions: Depression and Alcoholism (recovering)
  • Cover date: 18th March 2020
  • Product: Decreasing Life Insurance
  • Cover amount: £210,000
  • Cover term: 29 years
  • Premium: £20.37

We were approached by this gentleman on the 28th February 2020 when he completed an enquiry through our website. Our advisor Karl then contacted him to further discuss his life insurance needs and any pre-existing medical conditions he may have. This is when the gentleman disclosed that he was a recovering alcoholic with depression. Karl then requested further information from the client, this is when he explained that he has been in recovery since 2014 and has been sober ever since. He then went onto explain that his depression is mild, and he currently doesn’t require any treatment for it. After taking this information on board, Karl then asked the gentleman why he needed life insurance, how much he wanted and for how long. The gentleman then explained that he needed cover for his mortgage and therefore needed £210,000 of cover for a 29-year period. Due to the fact that he needed the cover for his mortgage, Karl suggested decreasing cover as it is cheaper than level cover and designed to cover mortgages. The gentleman agreed that this was the best option for him, and so on the 18th March 2020 Karl secured the gentleman £210,000 of cover for a 29-year period for a monthly premium of £20.37.

This is an amazing outcome as the gentleman now has the protection that he deserves. He was delighted with the outcome as Karl managed to secure him the cover he needs within his budget so he has peace of mind that his family will be protected should the worst happen. Furthermore, this is a brilliant out come for us as we are passionate about protecting people and love finding people the protection that they deserve.

Case Study 2

  • Client: Male
  • Age: 45
  • Smoker status: Non-smoker
  • Medical condition: Depression, asthma and migraines
  • Cover date: 23rd September 2019
  • Product type: Increasing life insurance and critical illness cover
  • Cover amount: £100,000
  • Cover term: 20 years
  • Premium: £103.19

We were approached by this gentleman on the 23rd September 2019 when the he completed an enquiry through our website. Our advisor Sam P then got in touch to ask what life insurance requirements he had and what pre-existing medical conditions he has had or is currently suffering from. At this point the gentleman explained that he was looking for £100,000 of life insurance and critical illness cover for 20 years and that he suffers from depression, asthma and migraines. He explained that his depression is now mild although he does still experience some symptoms, and that 20 years ago, he had attempted suicide once. Due to the fact that he still suffers from depression, he was able to get the cover that he wanted however it was slightly more expensive than standard rates. Sam P managed to get him £100,000 of life and critical illness cover for 20 years for a monthly premium of £103.19 on the 23rd September 2019. This may seem like an expensive premium but the amount of cover that he was requesting, as well as the addition of critical illness cover, and the history of depression will all add value onto the premium. As a result of this, his premium is very good as he is covered for a large amount of cover for a long period of time and without any exclusions on his critical illness cover.

Overall, we were so pleased with this result as he is now covered for both life insurance and critical illness. Furthermore, the gentleman was also pleased that we managed to find him cover, and so quickly, as he is now protected for all eventualities.

Case Study 3

  • Client: Male
  • Age: 49
  • Smoker status: Smoker
  • Medical condition: Bowel cancer and depression
  • Cover date: 24th September 2019
  • Product type: Level life insurance
  • Cover amount: £15,000
  • Cover term: 20 years
  • Premium: £35.34

We were contacted by this gentleman on the 28th June 2019 when he completed an enquiry on our website. Our advisor Sam C then called him to discuss his life insurance needs and his pre-existing medical conditions. At this point he disclosed that he was looking for £150,000 of cover over 20 years with a maximum budget of £40pm, and that he has suffered from stage 1 bowel cancer, of which his last treatment was over 2 years ago. He also mentioned that he has suffered from minor depression and has also been advised by a doctor to reduce his alcohol consumption in 2010. Sam C then took all of this information and applied to one of our mainstream providers and got some quotes for the gentleman. However, unfortunately these quotes were too expensive for his budget due to the fact that his bowel cancer was so recent . Therefore, Sam C had to reduce the amount of cover that the gentleman was looking for to £15,000 so that it fit within his budget. Therefore, Sam C managed to find £15,000 of cover for 20 years for the gentleman for a monthly premium of £35.34. This is a brilliant premium considering the difficult combination of medical conditions that they gentleman has suffered from, especially the bowel cancer as that can pose a significant risk to the insurers.

As a whole, the gentleman was over the moon that we managed to find him cover, as he now has peace of mind that his family are financially protected. Furthering this, we are also overjoyed that we managed to find him cover as it can sometimes be tricky to find cover for people who have had cancer, especially if they have other medical conditions as well.

Most Common Questions

Life Insurance for Depression will depend on the severity of the condition, your current treatment / medication and any hospitalisation or suicidal attempts. Insurers underwriting can vary dramatically for Mental Health so it is important that we apply to the best company for your circumstances and ensure that we have all the information that we need. In some cases, it may be possible to get Life Insurance for Depression with no loadings if well controlled with no recent attacks / episodes.
Some insurance providers are stricter than others when it comes to Mental Health and Life Insurance which can mean that you will find decisions can also vary widely. It is important that we approach the best provider for your circumstances and in some more severe cases, we can offer specialist products from our wider panel of insurers that we work with.
Generally, you may be considered for other products such as Critical Illness Cover or Income Protection even if you have a history of Depression. It will depend on the severity of your condition, medication / treatment and any other related issues such as suicidal attempts, alcohol abuse or self-harm.

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Life Insurance for Depression:

In many cases, we find that we are able to obtain Life Insurance for people with a history of Depression, and often with no loadings applied. Generally, for people with Depression, Life Insurance premiums will not be rated if the condition is well controlled and there has been a period without any hospitalisation, treatment or self-harm

If there have been more recent instances of self-harm, suicidal attempts or psychiatric treatment then you may find that a loading is applied. In more severe cases where there have been more than a set number of attempts in recent times, then it may even result in cover from standard insurance providers being declined. Our panel of specialist providers offers cover for people who have been declined cover or cannot find cover elsewhere so we should be able to offer you something.

Critical Illness Cover with Depression:

As we find with Life Insurance underwriting for Depression, decisions can vary significantly from one provider to another, so it is important that we approach the best insurer for you. It is also often the case that we are able to obtain Critical Illness Cover at standard rates with no exclusions if there has been a period of stability with no treatment or symptoms.

In some more severe cases, we can find Critical Illness Cover for Depression can be loaded or cover can even be declined. If you have suffered more recent attacks (e.g. Self-harm, suicidal attempts or alcohol / drug abuse) or you are currently under psychiatric treatment then you may struggle to obtain Critical Illness Cover.

Income Protection for Depression:

The reality for Income Protection and Depression is that it will generally require some underwriting and can either come with a loading on the premium, exclusions relating to mental illness or potentially be declined. If the condition is well controlled and there has been a period of several years since the last episode / any symptoms then you may be offered terms on a standard basis.

Click here to speak to one of our Protection Advisors 

Facts about Depression:

Depression is a growing issue in the UK and across the globe, it is now the largest Mental Health disorder in the Western World and numbers keep going up.

Depression stats (UK):

  • 1 in 5 people will suffer from Depression in their lives
  • 1 in 4 people will experience mental health problems
  • In 2014 there were 6,122 recorded suicidal attempts (people aged 10+)
  • 615 Million people worldwide suffer from Anxiety or Depression


Other types of Mental Health problems:

Mental Health is becoming a big issue in the UK and globally with a growing number of people being diagnosed with a variety of mental health problems. Other types of mental health issues include:


Bipolar disorder is where a person will experience vast and sometimes uncontrollable mood swings, from low mood to periods of manic moods, with periods of calm (normal mood) in between.

Eating Disorders:

Eating disorders (also known as Bulimia, Anorexia, Binge-Eating Disorder and Emotional Overeating) are usually caused when a person has a difficult relationship with food.

Obsessive Compulsive Disorder (OCD):

Became well-known thanks to a number of Hollywood films that document / depict the life of someone with OCD. Many people do believe they suffer from this condition but the reality is that the effects are far more severe than most people experience in daily life. People with OCD can find normal daily life incredibly difficult and unwanted thoughts mean that they are forced to repeat certain routines to be able to perform other tasks.

Personality Disorder:

There are several types of personality disorder such as Paranoid PD, Schizoid PD, Antisocial PD and Obsessive Compulsive PD. Someone with a personality disorder may find themselves with traits and problems that cause regular and / or long term issues that affect how they are able to live their life.

Post-Traumatic Stress Disorder (PTSD): Most common in ex-military individuals where they have experienced extremely traumatic events that cause long lasting damage to their mental state.


A mental health condition where a certain part of the brain responsible for sensation and emotion do not work properly which cause hallucinations and delusions.

Useful Links:

Mind Charity: www.mind.org.uk
Rethink: https://www.rethink.org
Mental Health Foundation: www.mentalhealth.org.uk
Depression Alliance: www.depressionalliance.org
NHS Choices (Depression): www.nhs.uk/conditions/depression/Pages/Introduction.aspx

The Insurance Surgery is a leading life insurance and travel insurance expert for people living with a pre-existing medical condition such as Depression. We work with a large number of people who suffer from mental health problems and we understand how difficult obtaining life insurance or travel insurance can be. When you want to speak to someone who understands your condition and is sympathetic to your needs, we’re here to help.

Depression Life Insurance related News

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