Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Jul 27, 2021

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The Lowdown

  • Having bipolar disorder may mean higher insurance rates if your insurance company labels you as high risk
  • Individuals with bipolar disorder can qualify for disability insurance
  • Guaranteed issue life insurance is the best option for people who have been denied life insurance due to their health

Having bipolar disorder can make it difficult to get affordable life insurance, but life insurance options for people with bipolar disorder are available.

People with bipolar disorder can buy traditional term or whole life insurance policies and can also qualify for disability insurance.

When it comes to life insurance for people with bipolar disorder, rates can be expensive. But there are ways to bring down the cost.

Read through our comprehensive guide to find out everything you need to know about buying bipolar disorder life insurance.

Looking to buy life insurance for people with bipolar disorder? Enter your ZIP code to get free life insurance quotes from top companies.

Can people with bipolar disorder buy life insurance?

If you’ve been denied life insurance due to mental health problems, it can be difficult to find affordable life insurance. You may have wondered if it is impossible to get insurance for bipolar disorder.

Luckily, many companies still offer life insurance options for individuals with bipolar disorder.

Your rates may be higher than average if you are considered a high-risk individual, but you will still be able to buy traditional term life and whole life insurance policies.

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What is the best life insurance policy option for people with bipolar disorder?

Finding life insurance for mentally disabled people can be difficult, but one of the best life insurance options for individuals with bipolar disorder is guaranteed issue life insurance.

Any individual can qualify for guaranteed issue life insurance, and you won’t need to take a medical exam. This makes it the perfect policy for high-risk individuals who have been denied life insurance previously because of their health status.

However, guaranteed issue life insurance is generally more expensive to buy than term life insurance and doesn’t offer as much coverage, so you’ll need to keep that in mind when considering buying a guaranteed issue life insurance policy.

How does having bipolar disorder affect life insurance rates?

Bipolar disorder won’t always affect your rates, but individuals with severe bipolar disorder may have a hard time finding affordable life insurance.

Although some individuals with bipolar disorder can get affordable life insurance, bipolar disorder is largely considered to be high risk.

Individuals with bipolar disorder are at an increased risk of engaging in activities such as binge eating and smoking, and conditions like diabetes and obesity are more common in people with bipolar disorder.

People with bipolar disorder are also at an increased risk of dying by suicide or struggling with alcohol addiction.

Because of these health factors, many insurance companies are hesitant to offer life insurance for individuals with bipolar disorder, and when they do, they often charge higher rates.

To find out if you are considered high risk, many companies will ask you questions about your disorder and how it’s being managed.

How can I get cheaper life insurance rates and discounts?

The average life insurance rates are around $26 a month. Although you may be able to get a similar price if you are in good health and your insurance company doesn’t classify you as high risk, your rates will likely be higher than average if you suffer from bipolar disorder.

Although having bipolar disorder can often increase your life insurance rates, there are a few ways you can get affordable bipolar life insurance.

Maintaining your mental health through therapy or medication may help to lower your rates, and keeping up with your job and social life is a good indicator to insurance companies that your bipolar disorder is under control.

If you have bipolar disorder, you can also qualify for disability insurance, which may help to lower the cost of life insurance.

This kind of insurance is intended to provide disability benefits in the event that your disability prevents you from working or severely affects your work.

Although most life insurance companies only offer up to 60% of your gross income, having a replacement for your income can help you sustain yourself and pay for the cost of any medications you’re taking or therapy sessions you’re attending.

You can get disability insurance through your employer if they offer it or through a life insurance company. If your employer offers disability insurance, they may cover a portion of the costs. This can further reduce the cost of your insurance.

All of these factors can contribute to lower bipolar life insurance rates.

Buying Life Insurance for People with Bipolar Disorder: The Bottom Line

Although life insurance for individuals with bipolar disorder may be more expensive depending on the severity of the condition, you can get lower rates by keeping up with your mental health and applying for disability insurance.

If you are considered a high-risk individual by your insurance company, guaranteed issue life insurance may be the best option for you, as it doesn’t require a medical exam, and people of all health statuses can qualify.

Your employer may offer you disability insurance, which can help to replace part of your income, but if they don’t, disability insurance is offered by some life insurance companies.

Looking for affordable bipolar life insurance? Enter your ZIP code below to get free life insurance quotes for people with bipolar disorder from top companies in your area.