Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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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 insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jun 3, 2021

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The Brief

  • It’s possible to secure life insurance for people with bipolar disorder at the standard rate
  • If your condition is mild and under control, your rates could start as low as $36.01 per month
  • If your condition is severe, wait to apply until your health is stable or seek out a guaranteed issue life insurance policy

Life insurance for people with bipolar disorder costs $36.01 per month on average, assuming your condition is mild and under control.

Keep reading to compare sample life insurance rates and determine the best way to buy life insurance for people with bipolar disorder.

You can compare life insurance quotes for people with bipolar disorder by entering your ZIP code into our free rate tool above.

Can people with bipolar disorder get life insurance?

Some pre-existing conditions make it challenging to qualify for life insurance at the standard rate, depending on the severity. This includes physical and mental health conditions, such as bipolar and schizophrenia, or even a history of depression.

However, as long as your bipolar disorder is mild and under control, you’ll likely find a company willing to sell you traditional term life insurance or whole life insurance.

If your case is moderate or you experience other health concerns or recent medication changes, you might earn a substandard policy rate costing 25% more than the base rate.

The table below compares the average monthly costs for a 20-year term policy with a $100,000 death benefit by age and gender at both the standard and substandard pay tiers:

Average Monthly Term Life Insurance Rates for People with Bipolar Disorder: Standard versus Substandard Rates
AgeAverage Standard Monthly RatesAverage Substandard Monthly Rates (25% Increase)
25-years-old$10.77$13.46
30-years-old$10.82$13.52
35-years-old$11.12$13.90
40-years-old$12.82$16.02
45-years-old$16.01$20.01
50-years-old$22.99$28.73
55-years-old$32.36$40.45
60-years-old$51.82$64.77
65-years-old$90.62$113.27
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Expect life insurance rates for people with bipolar disorder to cost more than average.

To secure the cheapest premiums, find a life insurance company for people with bipolar disorder familiar with the nuances of the condition.

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

Your life insurance options depend on the type of bipolar disorder you experience. According to the National Alliance on Mental Illness (NAMI), 83% of bipolar disorder cases are severe.

If you’re diagnosed with bipolar 1 or experience severe, out-of-control symptoms, you’ll struggle to qualify for traditional coverage.

Instead, wait to apply until you’ve worked with your doctor and your situation has adapted. Or invest in guaranteed issue life insurance. However, this type of policy tends to be expensive with a more modest life insurance death benefit.

Those newly diagnosed should also consider waiting before applying.

Fortunately, for those with bipolar 2 or mild cases, you should be able to find traditional life insurance coverage.

Life Insurance for People with Bipolar Disorder: The Bottom Line

Luckily, bipolar life insurance policies exist and do not always cost an arm and a leg. If your condition is under control and you’ve followed up with your doctor, you can quickly secure traditional life insurance.

Otherwise, wait to apply until your condition has improved, or consider purchasing a guaranteed issue life insurance policy.

You can secure affordable life insurance for people with bipolar disorder right now by entering your ZIP code into our free rate tool below.