Looking for life insurance with a bipolar disorder diagnosis? You’re not alone—and you’re not out of options.
Many people with bipolar disorder struggle to find affordable life insurance, often due to misunderstandings about mental health risk. But that doesn’t mean you’re uninsurable. At Maple Valley Insurance Group, we help clients every day who have been diagnosed with bipolar disorder—many of whom were told elsewhere that they couldn’t get coverage.
This guide will walk you through:
- How life insurance companies view bipolar disorder
- What you’ll be asked during the application process
- What kinds of policies are available to you
- How to avoid getting declined and flagged in the Medical Information Bureau (MIB)
Let’s dig in.
How Do Insurers View Bipolar Disorder?
Life insurance companies view bipolar disorder as a high-risk condition. This is mainly because of the potential for severe mood swings, hospitalization, or suicidal ideation. However, not all cases are treated the same.
Insurers evaluate your condition based on:
- Your official diagnosis (Bipolar I vs. Bipolar II)
- Stability of your condition over time
- Your treatment plan (medications, therapy, etc.)
- History of hospitalization or disability
- Other co-occurring conditions (substance abuse, anxiety, etc.)
Bipolar I vs. Bipolar II: What’s the Difference?
| Diagnosis | Characteristics | Impact on Underwriting |
|---|---|---|
| Bipolar I | Manic episodes that may require hospitalization. May include psychotic features. | Considered the highest risk. Fewer companies offer coverage. |
| Bipolar II | Less intense hypomanic episodes, often paired with depressive episodes. | More favorable with insurers, especially if stable. |
Some carriers lump all bipolar diagnoses together, often defaulting to the higher-risk Bipolar I rating. Others specialize in nuanced underwriting, distinguishing between types and offering better rates. This is why your choice of carrier—and broker—matters.
Don’t Apply Blindly: Why Working With the Right Broker Matters
If you’ve been calling insurance companies directly, stop.
Every declined application gets reported to the Medical Information Bureau (MIB). Multiple declines make it even harder to get approved later.
Instead, work with an independent life insurance broker who understands high-risk cases. We pre-screen your situation anonymously and only submit formal applications to companies that are likely to approve you. This protects your MIB record and saves you from unnecessary headaches.
What to Expect During the Application Process
Whether you’re applying for term or permanent life insurance, the insurer will want to know your full health history. That includes:
- Date of bipolar diagnosis
- Type of diagnosis (I or II)
- Hospitalizations or suicide attempts
- Medication history (current and past)
- Frequency of psychiatric visits or therapy
- Work or school history (any disability or time off)
- Co-occurring disorders (e.g., substance abuse, anxiety)
You’ll also need to answer standard questions:
- Date of birth, gender, tobacco use
- Occupation and any high-risk hobbies
- Driving record
- Drug or alcohol use
- Criminal record, if applicable
Depending on your answers, the insurer may request an APS (Attending Physician’s Statement) from your doctor. This is normal and helps underwriters confirm your diagnosis and treatment history.
Can You Be Declined for Life Insurance with Bipolar Disorder?
Yes. But it’s not guaranteed.
Bipolar I applicants—especially those with recent hospitalizations or suicide attempts—face the highest risk of decline. However, many insurers will make an offer if you’ve been stable for at least 12–24 months and are compliant with treatment.
Pro tip: Honesty matters. Don’t try to hide your diagnosis. It will show up in your records, and lying can result in an automatic denial.
Suicide Clauses: What You Need to Know
All life insurance policies include a two-year suicide exclusion clause. If the insured dies by suicide during the first two years, the policy won’t pay a death benefit—only a refund of premiums.
Some insurers may add a permanent suicide exclusion for applicants with severe mental health histories. This means suicide would never be covered, regardless of how long the policy has been in force.
These clauses are in place to prevent misuse of life insurance. While it may sound harsh, they help keep premiums manageable for all policyholders.
Will Life Insurance Be More Expensive With Bipolar Disorder?
Yes. Applicants with bipolar disorder typically pay higher premiums than those in preferred health classes. The actual cost depends on:
- Type of policy (term vs. whole life)
- Type of bipolar diagnosis
- Stability of condition
- Presence of other risk factors
Some companies will outright decline applications with any mental health condition. Others will make competitive offers—if you know where to look.
What Type of Life Insurance Should You Apply For?
Here’s a quick overview:
| Policy Type | Pros | Cons |
| Term Life | Affordable coverage for 10–30 years | Requires medical underwriting, harder to qualify |
| Whole Life | Permanent coverage, builds cash value | More expensive than term, some medical questions |
| Guaranteed Issue | No health questions, guaranteed approval | High cost, low coverage amounts, 2-year waiting period |
If you’ve been declined or have severe symptoms, guaranteed issue may be your only option—but it’s far from ideal if you’re otherwise stable and managing your condition well.
How to Get the Best Rates With a Bipolar Diagnosis
- Work with a high-risk life insurance specialist.
- Gather your medical records in advance (medications, diagnosis dates, hospitalizations).
- Be upfront and honest—insurers appreciate transparency.
- Avoid submitting multiple applications blindly—this will trigger MIB alerts.
- Ask your broker to shop your case informally before submitting a formal application.
Why Choose Maple Valley Insurance Group?
We’ve helped hundreds of clients with health challenges—including bipolar disorder—get the life insurance they deserve. Here’s why we’re different:
- We specialize in high-risk life insurance
- We work with 30+ carriers, many who accept mental health conditions
- We offer confidential pre-screening before formal application
- We don’t waste your time on companies that will decline you
- We’re independent—so we work for you, not the insurance company
📞 Call us today at 269-244-3420 or contact us online for a free, no-pressure consultation.
Frequently Asked Questions
Does bipolar disorder disqualify you from life insurance?
No. Many people with bipolar disorder can get coverage, especially if their condition is well-managed and stable.
Yes, likely. But working with the right broker can help you avoid overpriced policies.
Will life insurance cover suicide?
Only after the policy has been active for at least two years. Some high-risk policies may include a permanent exclusion.
Can I get term life insurance with bipolar disorder?
Yes, but only if your condition is well-managed and stable. Otherwise, whole life or guaranteed issue may be better options.
Still have questions? We’re happy to help. Call 269-244-3420 or use our contact form to schedule a confidential consultation.
Maple Valley Insurance Group—Life insurance solutions for real people with real health conditions.
