How Anti-Depressants Affect Your Life Insurance Eligibility

Taking antidepressants can directly impact the outcome of your life insurance application. Life insurance companies are in the business of assessing risk, and if you are taking an antidepressant, you will be asked a series of questions during the application process. While it is common for applications from people taking antidepressants to be approved, the more medications you are taking, the more risky you are perceived to be by the life insurance company.

Type of Antidepressant

The type of antidepressant you are taking will impact your life insurance application. Underwriters will want to know the specific type of antidepressant you are taking, the dosage, how often you take it, and when you were first prescribed the medication. This is because different antidepressants have their own set of benefits and side effects. For example, SSRIs usually have fewer side effects than MAOIs.

• Selective serotonin reuptake inhibitors (SSRIs) – Usually the first type of antidepressant prescribed. Drugs include: Prozac, Selfemra, Paxil, Pexeva, Zoloft, Celexa, and Lexapro.
• Serotonin and norepinephrine reuptake inhibitors (SNRIs) – Examples: Cymbalta, Effexor XR, Pristiq, Khedezla, and Fetzima.
• Norepinephrine and dopamine reuptake inhibitors (NDRIs) – For instance: Wellbutrin, Aplenzin, Forfivo XL.
• Atypical antidepressants – A somewhat ambiguous category of antidepressants that don't fit into another category. They are often sedating and taken in the evening. Examples include Oleptro, Remeron, Brintellix, and Viibryd.
• Tricyclic antidepressants – Such as Tofranil, Pamelor, Surmontil, Norpramin, and Vivactil. They are known to cause more side effects than other classes and are usually prescribed only after SSRIs have been tried first.
• Monoamine oxidase inhibitors (MAOIs) – Like Parnate, Nardil, Marplan, and Emsam. They are typically prescribed only after other antidepressants have been confirmed to be ineffective. A strict diet must be adhered to when taking MAOIs due to the potential for serious interactions, and they cannot be combined with SSRIs.

Diagnosis

When applying for life insurance, underwriters will want to know the specific type of depression diagnosis. This is because different types of depression carry different risks. For example, Major Depressive Disorder (also known as Clinical Depression) is characterised by an all-consuming dark mood, loss of interest in activities, and changes in appetite and sleep habits. On the other hand, Seasonal Affective Disorder (SAD) emerges as the days get shorter in fall and winter and may be treated with light therapy.

The type of diagnosis will help the underwriter understand your condition and determine your insurability. They will also want to know the symptoms you are experiencing, such as feelings of sadness or hopelessness, irritability, sleep disturbances, lack of energy, weight change, anxiety, slowed thinking or body movements, feelings of guilt, and inability to concentrate.

In addition, you will be asked about the severity of your symptoms and whether they affect your ability to function on a daily basis. For example, are you on disability or unable to work due to your symptoms? The underwriter will also want to know if you have ever been hospitalised or admitted to the emergency room due to your depression, and if you have ever attempted suicide.

It is important to be honest and forthcoming about your diagnosis and symptoms when applying for life insurance. Failing to disclose a pre-existing condition could result in a rejected application or a cancelled policy. It may also be considered insurance fraud, making it difficult to get approved for life insurance in the future.

Severity of Symptoms

The severity of symptoms plays a crucial role in determining life insurance eligibility and premiums. Underwriters will assess the impact of symptoms on daily life, including the ability to work and perform routine tasks. Mild symptoms that do not interfere significantly with daily functioning may result in a "Preferred" or "Standard" rating, while more severe symptoms that impair quality of life may lead to a "Substandard" rating or even denial of coverage.

Underwriters will inquire about the nature and extent of symptoms, including feelings of sadness, irritability, sleep disturbances, lack of energy, weight changes, anxiety, slowed thinking, and inability to concentrate. They will also evaluate whether symptoms have led to hospitalization, emergency room visits, or suicide attempts.

The duration of symptoms is another important factor. If symptoms have persisted for at least six months before diagnosis, it may result in a "Mild Substandard" rating, indicating a 50% increase in premiums compared to the "Standard" classification.

The impact of symptoms on overall health and functionality is also considered. If symptoms of depression, such as poor mental function and sleep disorders, indicate more serious underlying health conditions, applicants may be placed in the "Medium Substandard" category, resulting in a 100% increase in premiums.

Severe symptoms, such as prolonged suicidal thoughts, loss of appetite, or the inability to work or perform daily tasks due to depression, may lead to a "Severe Substandard" rating. Individuals in this category can expect to pay 150% more than those with a "Standard" rating.

It is important to provide detailed and comprehensive information about symptoms to underwriters. Being transparent about the severity and impact of symptoms can improve the chances of obtaining appropriate coverage and ratings.

Risk Factors

When applying for life insurance, the carrier will determine whether to offer coverage and what premiums to charge based on the applicant's mortality rate. The more pre-existing conditions an applicant has, the more likely they are to be denied life insurance or offered coverage at a higher premium. This is because insurance companies make money the longer insurance holders live, so they prefer candidates with an outlook for a long and healthy life.

Depression is one of these pre-existing conditions that has a statistical chance of shortening an applicant's life span because people suffering from it are more likely to commit suicide and self-medicate with drugs and alcohol. If an applicant has a severe case of depression, they may be denied life insurance.

The severity of your depression plays a huge role in how likely you are to be denied life insurance or offered coverage at a higher premium. If you were ever on disability due to depression and thus unable to work or missed work, then you will be a higher-risk applicant. If you ever made a suicide attempt, recorded having suicidal thoughts, or were hospitalized for severe depression, you are more likely to be denied life insurance coverage.

The type of antidepressant medication you take will also play a significant role in whether your depression affects your chances of getting life insurance. If you had what is called reactive depression and only took antidepressants for a short period, then your medical history might not affect your insurance chances. However, if you've been taking antidepressants for many years to treat chronic depression or have been given a high dosage, then you'll find that getting life insurance is much tougher because you'll be viewed as a higher risk.

Life insurance underwriters want to minimize their risk. If they believe you have a higher likelihood of dying, your premiums will go up or you may be denied coverage. According to the National Institute of Health, 85% of people with major depression relapse within 15 years. Explaining your medical history and answering the life insurance questions to the best of your ability may increase your potential for lowered premiums and higher coverage amounts.

Most life insurance companies want to see that the condition for which you’re taking antidepressants is controlled, how it is being monitored, and whether you are complying with your doctor’s instructions. You may be asked questions such as:

• What have you been diagnosed with?
• When were you diagnosed?
• When did your symptoms first present themselves?
• What are your symptoms? Are they mild, moderate, or severe?
• Have you ever had suicidal thoughts?
• Are you taking medications for other health conditions?
• What medications are you taking? At what dosage?
• How long have you been taking the medication?
• What other therapy are you undergoing?
• How often do you visit your doctor?

If underwriters can make sure the risk from depression is contained, they are more likely to qualify you for a better rating. For example, some acute episodes of depression are brought on by a death in the family or a recent divorce. These are less likely to recur or lead to further health problems.

People who are dealing with depression on top of another medical condition may fall into a lower health classification, however. The more medications you are taking, the more risky you are perceived to be by the life insurance company.

Treatment Plan

If you are taking antidepressants, it is important to be honest about your medication use when applying for life insurance. Non-disclosure of your antidepressant use could result in your application being rejected or your policy being cancelled. It may even be considered insurance fraud and could make it difficult to get approved for life insurance in the future.

When applying for life insurance, you will likely be asked a series of questions about your mental health history and treatment plan. These questions may include:

• What have you been diagnosed with?
• When were you diagnosed?
• When did your symptoms first present themselves?
• What are your symptoms, and are they mild, moderate, or severe?
• Have you ever had suicidal thoughts?
• Are you taking medications for other health conditions?
• What medications are you taking, and what is the dosage?
• How long have you been taking the medication?
• What other forms of therapy are you undergoing?
• How often do you visit your doctor?

The more detail you can provide about your treatment plan, the better. For example, if you are taking antidepressants, be prepared to communicate the specific type of antidepressant, the dosage, and how often you take it. If you are undergoing therapy, such as cognitive behavioural therapy or electroconvulsive therapy, be sure to disclose this information as well.

It is also important to note that not all life insurance providers approach mental health conditions in the same way. Some providers may be more likely to consider individuals taking antidepressants for coverage. Working with a knowledgeable insurance agent who specializes in helping individuals with pre-existing conditions can increase your chances of finding the right policy. They can help you navigate the application process and find a policy that meets your needs and budget.

Frequently asked questions