Does depression, anxiety, or other mental illnesses affect your insurability?

While pre-existing conditions such as diabetes and high blood pressure will affect your ability to secure life insurance, do mental illnesses also affect your insurability as well?  If you have depression, anxiety, or other mental illnesses, then here's what you need to know about life insurance. Many people worry about their mental illness, increasing their life insurance rates.  In many cases, anxiety or depression without additional complications does not actually place you in a higher risk classification.  However, if your anxiety, depression, or other mental health issues impact your ability to do well at school or work or requires frequent medication changes, then this could raise your premiums.  In particularly severe cases, mental illness can also make you ineligible for traditional life insurance coverage. If you are worried about your mental illness driving up the cost of your life insurance, then there are steps that you can take to lower your risk.  For instance, getting the care that you need is one way to keep your life insurance costs down.  When you follow doctor's orders, take your medication consistently, and take other steps to manage your condition, your life insurance provider will see you as lower-risk to insure.  This, in turn, will translate into lower life insurance rates While you may be worried about how your mental illness will affect your ability to secure life insurance, it's important that you disclose your diagnoses during the underwriting process.  Failing to tell the truth about your mental health is considered an act of fraud and could have very serious consequences for your loved ones.  For instance, if your insurer discovers that you have concealed a mental health issue, then they could deny the payment of your benefits because you technically applied for coverage under false pretenses. This is what you need to know about securing life insurance with a mental illness.  Do you have additional questions about your life insurance coverage?  If so, then contact the experts at East End Insurance Agency.  We are ready to assist you with all your coverage needs today.