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Life Insurance with Post Traumatic Stress Disorder (PTSD)

Licensed Life Insurance Agent/Marketing Manager
April 01, 2020

There are a lot of life insurance companies out there, but not all of them will approve someone who has post traumatic stress disorder (PTSD). 

If you have been diagnosed with PTSD, you may have many questions around getting a life insurance policy. This article will cover the following:

  1. Can I get life insurance with post traumatic stress disorder?
  2. How much will life insurance be with post traumatic stress disorder?
  3. What is the process to apply for life insurance?
  4. What do I do if I have been declined coverage due to PTSD? 

Can I get life insurance with PTSD?

Yes, you can qualify for life insurance with PTSD. 

The life insurance company will most likely ask you more questions about your condition so they can learn more about you and how it affects your life. You can expect questions similar to the following:

  • When you were first diagnosed,
  • if your condition is mild, moderate or severe,
  • what medication(s) you take,
  • how often you see your doctor,
  • if you see or have ever seen a psychiatrist,
  • if you have had electroshock therapy,
  • any thoughts of suicide, and
  • if you have ever been hospitalized due to PTSD.

Depending on the life insurance company they could classify you as needing high risk life insurance. This would mean that while you are still eligible for coverage you will pay a bit more for your policy. 

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How much does life insurance cost with PTSD?

The cost of the policy is going to depend on your situation. Life insurance companies will factor in your age, health, gender, and lifestyle among other things to determine you rate.

The severity of your PTSD will also make an impact on the rate. If your PTSD is mild you may be able to purchase life insurance at a pretty affordable rate. 

However, those who suffer from more severe PTSD, which can potentially increase your rate pretty dramatically. 

If you suffer from more severe PTSD and are worried that life insurance would be too expensive or that you may not qualify, you may want to consider a guaranteed issue life insurance policy. 

A guaranteed issue policy wont' take any health factors into consideration and as long as you are within the age and coverage parameters you can get coverage. It is important to note that these policies have much lower coverage amounts than a typical life insurance policy. 

Your rate is determined by the life insurance company. The stance that a company can take on PTSD can greatly vary. For this reason it is important to shop around and find the right company so you can obtain coverage. 

If you aren't sure where to start or if you have more questions feel free to give us a call today and a licensed life insurance agent can help guide you through the process. 

What is the process to apply for life insurance?

We already touched on how a guaranteed issue life insurance policy would work. If you go with the more traditional life insurance policy then you can expect a more in-depth process. 

With a traditional life insurance policy you are required to take a life insurance medical exam

In this process the person who examines you will typically come to your home. They will check your weight and height along with a blood and/or urine sample. The life insurance company will also get a copy of your medical records and a list of any current or previous prescriptions. They will combine all the health information gathered above with your application to determine your eligibility and cost of life insurance. 

A life insurance agent will help walk you through this process.

What do I do if I'm denied life insurance coverage?

As mentioned previously applying with the right life insurance company can make a world of difference. If you were denied coverage from one company, you can still submit an application to get coverage with a different company. 

If you need assistance finding the right company and policy for your needs give us a call today.

Written by
Chelsie Ball
Chelsie is fixated on developing innovative ways to present complex ideas and maneuvering people to the information they need. She has worked in digital marketing for the past eight years and has been a licensed life insurance agent since 2010. When she isn’t looking out for the user, you can find her watching Netflix or desperately trying to find a real hobby.