Yes, you can get life insurance with bipolar disorder. Many carriers now offer term life and final expense policies to people with managed bipolar conditions. Your approval and rate class depend on your diagnosis type (Bipolar 1 vs. 2), treatment stability, medication history, and overall health.
If you’ve been diagnosed with bipolar disorder, you might assume life insurance is off the table. It’s not. Plenty of people with bipolar disorder get approved for coverage every day.
That said, the process isn’t the same as it is for someone without a mental health history. Insurance companies will look closely at your diagnosis, treatment, and overall stability. The good news? If you know what underwriters care about, you can put yourself in the best position for approval at a fair rate.
We’ve spent 30 years helping people with health challenges find the right life insurance. According to the National Institute of Mental Health (NIMH), about 2.8% of U.S. adults experience bipolar disorder in any given year. That’s millions of Americans, and many of them carry life insurance right now. In this guide, we’ll walk you through what to expect, what underwriters look at, and how to improve your chances of getting approved.
Can You Get Life Insurance with Bipolar Disorder?
Yes. Bipolar disorder does not automatically disqualify you from life insurance.
Years ago, most insurance companies would decline applicants with any mental health diagnosis. That’s changed. Medical advances and a better understanding of bipolar disorder have opened up more options. Today, many carriers offer both term life and permanent policies to people living with this condition.
The key factor isn’t the diagnosis itself. It’s how well managed your condition is. An applicant with stable bipolar disorder who follows a consistent treatment plan is a very different risk profile than someone with frequent hospitalizations or medication changes.
Bipolar 1 vs. Bipolar 2: How Insurers See the Difference
Not all bipolar diagnoses are treated the same by life insurance companies. The two main types carry different risk profiles in underwriting.
Bipolar 1 involves at least one manic episode, often severe enough to require hospitalization. There may or may not be depressive episodes. Because manic episodes can involve psychosis or dangerous behavior, underwriters consider Bipolar 1 the higher-risk diagnosis.
Bipolar 2 involves hypomanic episodes, which are less severe and shorter in duration than full manic episodes. Bipolar 2 also typically includes depressive episodes. From an underwriting standpoint, Bipolar 2 is generally easier to insure.
Here’s an important tip: look for insurance companies that distinguish between Bipolar 1 and Bipolar 2. Carriers that separate the two into different categories tend to understand the condition better and offer more accurate pricing. Companies that lump them together often charge higher rates across the board.
What Underwriters Look At
When you apply for life insurance with bipolar disorder, the underwriter will request your medical records and evaluate several key factors:
- Diagnosis type and severity – Bipolar 1 vs. Bipolar 2, and whether your condition is classified as mild, moderate, or severe
- Medication stability – Consistent medication with no recent dosage changes is a positive signal
- Hospitalization history – Recent psychiatric hospitalizations (especially within the last 2-3 years) are a red flag for underwriters
- Suicide attempt history – Any history of suicide attempts will significantly impact your application
- Work and daily functioning – Maintaining steady employment and daily routines shows stability
- Substance use history – Drug or alcohol issues combined with bipolar disorder increase risk in the eyes of insurers
- Other health conditions – Additional medical conditions compound your overall risk assessment
Be honest on your application. Insurance companies verify information through the Medical Information Bureau (MIB) and your medical records. Incomplete or false information can lead to claim denial or policy cancellation down the road. If you’re also dealing with depression alongside bipolar disorder, that’s important to disclose as well.
How Bipolar Severity Affects Your Rate Class
Underwriters generally classify bipolar disorder into three severity levels. Each level leads to a different rate class and premium outcome. According to NIMH data, about 83% of adults with bipolar disorder experience serious impairment in daily functioning, the highest rate among all mood disorders. That’s why underwriters pay close attention to how well your condition is managed.
| Severity | Typical Profile | Likely Rate Class |
|---|---|---|
| Mild | Stable on medication, no hospitalizations, no suicide attempts, no lost work time, good support network | Standard (base rates) |
| Moderate | Medication dosage changes within past 12 months, possible lost work time (under 1 month), no recent hospitalizations or suicide attempts (2-3 years) | Substandard/Table Rating (25-50% above standard) |
| Severe | Multiple hospitalizations, suicide attempts, antipsychotic medications, significant lost work time, unstable treatment | Decline or Guaranteed Issue only |
Keep in mind that these are general guidelines. Every insurance company has its own underwriting criteria, and results can vary from one carrier to the next. That’s why working with an independent broker who knows which companies are most favorable to bipolar applicants makes a real difference.
Types of Life Insurance Available
Term life insurance is usually the best option for people with mild to moderate bipolar disorder. It’s the most affordable type of coverage and provides protection for a set number of years, like 10, 20, or 30. You’ll go through full medical underwriting, which means the insurance company will review your health records. If your condition is stable and well-managed, this is where you’ll find the best rates.
Guaranteed issue life insurance is designed for people who can’t qualify for traditionally underwritten policies. There are no health questions and no medical exam. The trade-off is higher premiums and a graded death benefit, which means the full payout doesn’t kick in until you’ve had the policy for 2-3 years. This can be a good option for people with severe bipolar disorder or those who’ve been declined elsewhere.
Final expense insurance is a type of simplified whole life insurance designed to cover funeral and burial costs. For seniors with bipolar disorder who need modest coverage (typically $5,000 to $25,000), final expense policies offer a more accessible path to approval. Some final expense carriers have more lenient underwriting for mental health conditions.
Tips to Improve Your Approval Chances
Getting approved for life insurance with bipolar disorder isn’t just about your diagnosis. How you prepare and apply matters too.
Maintain treatment stability. The single most important factor is a stable treatment history. Underwriters want to see consistent medication, regular doctor visits, and no recent changes to your treatment plan. A track record of 2-3 years of stability makes a strong case.
Get your medical records in order. Before you apply, make sure your records are up to date and accurately reflect your current condition. If your psychiatrist has reduced your medication or noted improvement, ensure that’s documented.
Work with an independent broker. This one is critical. An independent broker who specializes in high-risk life insurance has access to multiple insurance companies and knows which carriers are most favorable to applicants with mental health histories. Applying directly to the wrong company can result in a decline, which then gets recorded in your MIB file and makes future applications harder.
Don’t apply to multiple companies at once. Each application triggers a record. Multiple declines on your MIB report can hurt your chances with other carriers. Let a broker shop your case to find the right fit before submitting a formal application.
Be completely honest. Don’t hide your diagnosis or minimize your history. Underwriters will pull your medical records and prescription history. If they find discrepancies, it can lead to a decline or, worse, a denied claim when your family needs it most.
Frequently Asked Questions
Can bipolar disorder disqualify you from life insurance?
Bipolar disorder alone won’t automatically disqualify you. Many insurance companies approve applicants with well-managed bipolar conditions. Severe, untreated, or unstable bipolar disorder can lead to a decline from traditionally underwritten policies, but guaranteed issue options are still available with no health questions asked.
Do you have to disclose bipolar disorder on a life insurance application?
Yes, you must disclose any diagnosed mental health conditions. Insurance companies verify your medical history through the MIB and doctor records. Failing to disclose can result in a voided policy or denied claim during the contestability period, which is typically the first 2 years of your policy.
Does bipolar medication affect life insurance rates?
It can. Underwriters look at the type of medication and whether your dosage has been stable. Consistent use of standard psychiatric medications is viewed favorably. Antipsychotic medications or frequent dosage changes may result in higher rates or a substandard rating.
Can you get term life insurance with bipolar disorder?
Yes, especially if your condition is mild to moderate and well-controlled. Term life is the most affordable option and is available to many bipolar applicants through carriers that specialize in high-risk underwriting. An independent broker can help you find the right carrier for your situation.
What happens if you’re denied life insurance because of bipolar disorder?
A denial isn’t the end of the road. Guaranteed issue policies require no health questions and can’t deny you based on your diagnosis. You can also reapply with a different carrier after improving your treatment stability. An independent broker can help you find the right company for your specific situation.
Will my rates go down if my bipolar disorder stabilizes over time?
Once your policy is issued, your rates are locked in and won’t change. Your insurer can’t raise your premiums or cancel your policy because of your bipolar disorder. If your condition improves significantly, you could apply for a new policy at a better rate class in the future.
Key Takeaways
- Bipolar disorder does not automatically disqualify you from life insurance. Many people with managed conditions get approved.
- Bipolar 2 is generally easier to insure than Bipolar 1. Look for carriers that distinguish between the two types.
- Treatment stability is the most important factor. Consistent medication, no recent hospitalizations, and steady daily functioning lead to better outcomes.
- Work with an independent broker who understands high-risk underwriting. Applying to the wrong carrier can lead to unnecessary declines that hurt future applications.
- Guaranteed issue and final expense policies provide backup options if you can’t qualify for traditional term life coverage.
Wondering if you can qualify for life insurance with bipolar disorder? We specialize in helping people with health challenges find coverage. Get a free quote online. No pressure, just honest guidance.
