LifeQuotes.com: How to buy life insurance after a diagnosis of depression

By a News Reporter-Staff News Editor at Insurance Weekly News -- LifeQuotes.com, the online life insurance exchange that offers instant quotes from 50 leading life insurance companies and allows customers to buy from any company shown, has good news for life insurance shoppers who are recovering from a diagnosis of depression. Results from a recent life insurer survey confirm that many such insurers are willing to consider applicants who have been diagnosed with depression, but there are acceptance guidelines that one must meet in order to secure coverage.

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The long litany of news headlines alone might be enough to make you depressed: Depression among Facebook users, depression among city dwellers, depression among new parents, depression among the aged, depression among the newly-retired, depression among the very poor, depression among the very rich, depression among the middle class, depression among those who work, depression among those who are unemployed. Where does it end? And what if you need life insurance because you have dependents or debts that you want taken care of just in case?

According to the National Institute of Mental Health, major depressive disorder is "one of the most common mental disorders in the United States." Each year about 7 percent of U.S adults experience a major depressive disorder. Women are 70 percent more likely than men to experience depression during their lifetime. Non-Hispanic blacks are 40 percent less likely than non-Hispanic whites to experience depression during their lifetime. The average age of onset is 32 years old.

"Because we track the rates and underwriting guidelines of 50 leading life insurers, we are in a key position to help people, including those with medical histories, find life insurance at affordable rates," remarked Vice President Michelle Zieba. "There is a lot of misinformation out there, perhaps because most life insurance agents represent only 1-2 companies, whereas our 50-company database can more thoroughly shop the market."

The following chart of sample monthly premium rates shows the best possible prices for a life insurance applicant who has had a diagnosis of depression, is stable at time of application, and can meet all other underwriting criteria with no additional, ratable health issues. Quotes shown for amounts under $100,000 do not require a paramedical exam; quotes shown at or above $100,000 will require a face-to-face paramedical interview.

10-Year Level Term Life Rates, Diagnosis of Depression

Keywords for this news article include: Life Quotes Inc.

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