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Looking for life insurance with bipolar disorder? You’re not alone — and you can still get coverage. Many people with bipolar struggle to find affordable options, often because insurers misunderstand mental health risks. 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 — including those told elsewhere they couldn’t get coverage. Whether you’re looking for bipolar life insurance, term or whole life policies, or even burial insurance for bipolar disorder, there are options designed to fit your situation.

This guide will walk you through:

• How insurers view bipolar disorder and what affects approval
• What questions to expect during the application process
• Which types of policies might work best for you
• How to avoid multiple declines and protect your MIB record

Let’s dig in.

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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—absolutely matters.

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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.

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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.

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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 misrepresentation can result in an automatic denial.

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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 offering life insurance with bipolar disorder 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.

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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.

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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 and/or have other health problems, guaranteed issue may be your only option—but it’s far from ideal if you’re otherwise stable and managing your condition well.

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Burial Insurance With A Bipolar Disorder Diagnosis

If you are looking for a simple life insurance policy for burial and final expense needs and are managing bipolar symptoms, there are whole life insurance policies available smaller amounts designed for less than great health. Amounts are between $2000 and $50,000 of coverage. A good number of these policies will accept bipolar disorder but are not ideal. Many of these are graded or guaranteed issue whole life policies. The most affordable options and best coverage option will have some health questions. None of these will require any exam. You could be approved the same day as your application. We regulary obtain instant coverage offers/

Work with a independent life insurance advisor on this if you are looking for the best options. It is easy to be sold a subpar but expensive policy because the carriers underwriting practices. Companies and policies such as Colonial Penn’s $9.95 life insurance should be avoided.

How to Get the Best Rates With a Bipolar Diagnosis

1. Work with a high-risk life insurance specialist.
2. Gather your medical records in advance (medications, diagnosis dates, hospitalizations).
3. Be upfront and honest—insurers appreciate transparency.
4. Avoid submitting multiple applications blindly—this will trigger MIB alerts.
5. Ask your broker to shop your case informally before submitting a formal application.

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Why Choose Maple Valley Insurance Group?

Having bipolar disorder does not mean you can’t find a good affordable policy. The trick is to identify who the best one will be for you, personally. Your total risk profile will be evaluated in order to see if you can be insured. We can help you sort this all out.

Once completed, some companies will be able to offer you a good policy and others won’t. There are not any “bipolar life insurance companies” but there are carriers who are more liberal in considering mental health conditions rather than auto declining. With that said, many of them are very “touchy” about additional health struggles medicated or not. Sorry to say that these carriers and policies will accept certain people with bipolar histories while others don’t get the answer they want.

We’ve worked with plenty of people diagnosed with the condition that could qualify for a very affordable policy but unfortunately had compounding risk factors which required a different policy type than these clients really desired.

For a top notch policy, your overall risk profile will be the number of factor. This can go well beyond a bipolar diagnosis and depends on the type of life insurance you would like to have. This is why you should work with a seasoned independent agent who can analyze what is best for your personal situation.

We’ve helped hundreds and 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. You work directly with us and our team. We are not a call center.
• We work with 30+ carriers, several who are more flexible with mental health conditions
• We offer confidential pre-screening before formal application.
• We don’t waste your time on companies or policy types that will decline you or not make a reasonable offer
• We’re independent—so we work for you, not the insurance companies

📞 Call us today at 269-244-3420 for a free, no-pressure consultation.

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Frequently Asked Questions

If you’re ready to see what coverage you might qualify for, these frequently asked questions answer the most common concerns people with bipolar disorder have about life insurance. From rates to policy types — and even burial insurance — we break it down so you know exactly what to expect and how to get approved.

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