Life Insurance for People With Bipolar Disorder (Discounts & Rates)

You can find traditional life insurance for people with bipolar disorder at the standard rate if your condition is mild and under control. If you qualify for substandard bipolar life insurance rates, expect to pay around 25 percent more than the standard tier. People with severe bipolar disorder can purchase guaranteed issue life insurance with a graded death benefit and opt for no medical questions. Compare life insurance quotes for people with bipolar disorder online to secure your best price.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Mar 5, 2021

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The Highlights

  • Traditional life insurance for people with bipolar disorder is attainable at the standard rate
  • If your bipolar disorder is moderate in severity, you may be placed in a substandard life insurance risk category and pay 25 percent more than the standard rate
  • People with severe bipolar disorder can purchase graded death benefit life insurance with no medical questions asked, but expect high rates

It’s possible to secure traditional life insurance for people with bipolar disorder, sometimes even at the standard rate.

Read our guide to learn what to expect if you have bipolar disorder and need life insurance.

When you’re ready, buy life insurance for people with bipolar disorder by entering your ZIP code into our free quote tool above.

Can people with bipolar disorder get life insurance?

You can get life insurance even if you have bipolar disorder. Your rates and policy options depend on the severity of your case.

When you apply for a life insurance policy, the provider looks at your medical information and background to assess your risk during the underwriting process.

Life insurance companies consider bipolar disorder to be a pre-existing condition.

There are health risks associated with a bipolar diagnosis, including a history of depression, substance abuse, or attempted-suicide.

If you have mild, controlled bipolar disorder with no other recent health concerns or medication changes, you can still qualify for life insurance at the standard rating tier.

Those in poor health or with more severe bipolar disorder may be placed in the substandard category. You’d pay the highest rates, around 25 percent more than standard. The company may also deny your coverage.

The table below compares the standard and substandard life insurance rates for people with bipolar disorder for a 20-year term life insurance policy for $250,000 from Nationwide by age and gender.

Average Monthly Life Insurance Rates for People with Bipolar Disorder by Age, Gender, and Rating Tier
AgeFemale Standard Monthly RatesMale Standard Monthly RatesFemale Substandard Monthly RatesMale Substandard Monthly Rates
25 years-old$19.58$23.59$24.47$29.48
30 years-old$15.35$16.02$19.18$20.02
35 years-old$15.35$16.02$19.18$20.02
40 years-old$20.47$21.36$25.58$26.70
45 years-old$27.59$35.16$34.48$43.95
50 years-old$40.05$53.85$50.06$67.31
55 years-old$68.09$80.77$85.11$100.96
60 years-old$131.50$180.23$164.37$225.29
65 years-old$207.15$279.24$258.93$349.05
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You can get affordable life insurance for people with bipolar disorder as long as you’ve been following your doctor’s orders and your case is mild.

However, according to the National Alliance on Mental Illness (NAMI), 83 percent of bipolar cases are classified as severe.

Insurance companies weigh pre-existing health conditions differently.

One company might deny bipolar life insurance applicants. Another company might place you in the standard rating tier.

Shop around to find the best insurance companies compatible with your unique health situation.

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What life insurance policy options are available for people with bipolar disorder?

Were you diagnosed with bipolar 1? Or is your case considered severe? You may struggle to be approved for a traditional whole or term life insurance policy.

This includes people with bipolar and schizophrenia diagnoses.

You can still purchase guaranteed issue life insurance with a graded death benefit and no health questions. Be warned; this is the most expensive policy option.

Otherwise, wait to apply for life insurance until you’ve worked with your doctors to get your condition under control.

If you’ve been newly diagnosed, you should also wait a few years before applying.

For those diagnosed with bipolar 2 or are considered mild and controlled cases, you can usually qualify for a traditional life insurance policy.

If you don’t qualify for the standard rates, you can also purchase a graded death benefit. By opting for some medical questions to be asked, you’ll receive slightly lower rates.

Life Insurance for People with Bipolar Disorder: The Bottom Line

Thanks to advancements in bipolar medications and treatments, those living with mild and controlled bipolar disorder can qualify for traditional life insurance at the standard rating tier.

Follow your doctor’s orders and keep accurate and up-to-date medical records.

Also, tell the truth when applying for life insurance to help you get approved at your best rates.

Other factors impact life insurance rates beyond bipolar disorder diagnoses, including your age, occupation, and general health.

To secure the best bipolar life insurance quotes, limit your unhealthy lifestyle choices. This includes smoking, drinking, and other substance use.

Find the best life insurance company for people with bipolar disorder near you by entering your ZIP code into our free quote tool below.

Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

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