Mental Health

Published 04/08/2025

Did you know:

According to the charity Mind UK*

• 1 in 4 people will experience a mental health problem of some kind each year in England.
• 1 in 6 people report experiencing a common mental health problem (like anxiety and depression) in any given week in England.

Many of us have experienced mental health challenges ourselves or know someone who has. Just like physical health issues, mental health concerns often prompt people to reflect on their future, their loved ones, and their financial security. It’s common for those who have dealt with these conditions to worry that life insurance may be out of reach. In this guide, we’ll explain how you can still get the coverage you need and what you can expect to pay.

Can I get life insurance if I’ve experienced mental health issues?

It’s not easy to give a simple ‘yes’ or ‘no’ answer to this question, as everyone’s situation is unique. However, the good news is that most people who have experienced mental health challenges are still able to get life insurance. In fact, some insurers approve up to 90% of applications* from individuals with anxiety or depression right away.

When assessing life insurance applications, providers look at factors that could affect your life expectancy, such as your overall health and lifestyle. Why is this important? Because the shorter your life expectancy, the sooner a claim might be made—affecting how much the insurer needs to charge for coverage.

The reassuring part is that many conditions don’t actually reduce life expectancy. As a result, most insurers are able to offer coverage to people with mental health issues, often at standard rates similar to those without such conditions.

That said, there are exceptions. More serious cases—such as those involving suicide attempts, self-harm, or hospitalisation—may lead insurers to either raise the cost of cover or decline the application. It’s also important to note that most policies include a clause that excludes payouts for suicide within the first year of the policy being taken out.

What will insurers ask me?

When you apply for life insurance, providers will ask about any pre-existing conditions—these are medical issues you’ve had in the past or are currently managing. This includes any condition that affects your mood or behaviour, such as depression, anxiety, stress, bipolar disorder, or schizophrenia.

Insurers typically ask questions like:

• When were you diagnosed, and how long have you been managing the condition?
• How frequently does it affect you, and does it interfere with your daily life or work?
• Are you taking medication, and if so, for how long?
• Have you ever been hospitalised, self-harmed, or attempted suicide?

In some cases, insurers may request further information from your GP or review your medical records to get a clearer picture of your mental health history.

Do I need to fully disclose my condition(s)?

Unfortunately, stigma around mental health still exists, and it’s understandable that some people may feel uneasy discussing their experiences. However, one of the most important things to remember when applying for life insurance is to be completely honest about your health and history. We know it’s not always easy.

That said, if an insurer discovers that an applicant hasn’t fully disclosed relevant health information, they may refuse to pay out on a claim—potentially leaving your loved ones without the support they were counting on. It might feel uncomfortable, but being truthful is essential.

Our compassionate and knowledgeable advisers have helped many people with mental health conditions find the right life insurance policy to protect their families. You’re not alone—and there is support available.

How much does life insurance cost?

The cost of life insurance is influenced by several factors, including:

• Your age
• Whether or not you smoke
• The length of the policy
• The amount of cover you choose

Your overall health—both physical and mental—also plays a role in determining the cost.

To calculate your premium, insurers need to assess the severity of your condition and how it affects your daily life. Some conditions may be associated with lifestyle risks, such as substance misuse, which can lead to higher premiums to reflect the added risk.

If you’ve experienced mental health challenges and are thinking about taking out life insurance, it’s worth investing some time in researching your options. Each insurer assesses mental health differently, and their premiums can vary significantly.

According to research from leading insurer Royal London, 89% of applicants with mental health conditions are offered standard terms for life cover, meaning they pay the same rates as those without any mental health history.

At FutureProof, we work directly with leading UK insurers and have in-depth knowledge of what they can offer individuals with mental health conditions. We’re here to help you find the right cover and the support you need.

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