How to Get Life Insurance as a Veteran with PTSD

If you’re a Veteran living with post-traumatic stress disorder (PTSD), your diagnosis alone won’t prevent you from getting life insurance. Insurers look at more than a diagnosis when evaluating an application, including your treatment history, current health, and stability over time.

PTSD affects an estimated 7% of all Veterans at some point in their lives. Rates are higher among Veterans who use VA Health Care: research estimates that 26% of VA Health Care users have experienced PTSD during their lifetime, while 13% are currently living with PTSD.

If you’re looking for an opportunity to secure life insurance with PTSD, it’s helpful to know what insurers review and how preparing your application can make the process more straightforward.

What Insurers Actually Look at When You Have PTSD

Having PTSD doesn’t automatically disqualify you for life insurance. For instance, at Armed Forces Mutual, each application is evaluated holistically rather than treating the diagnosis as the sole factor in underwriting.

When you apply for life insurance with PTSD, an underwriter typically reviews factors such as:

• Date of diagnosis: How long ago you were diagnosed provides context about the progression and management of your condition
• Severity: Insurers look at whether your PTSD is considered mild, moderate, or severe
• Co-occurring conditions: Anxiety, depression, substance use, and other health conditions can affect the overall assessment
• Treatment adherence: Following your recommended treatment plan demonstrates how you’re managing the condition
• Stability and improvement: Your current condition and whether your symptoms have remained stable or improved over time are taken into consideration

Preparing your medical information before you apply will make the process easier. Have your treatment history, current medication list, provider contact information, and relevant medical records available. Your insurer may still request additional documentation to better understand your health history.

Generally speaking, most mild and moderate PTSD cases can be approved for coverage, although every application is evaluated individually.

Step-by-Step: How to Apply

Knowing what to expect before you apply for life insurance with PTSD can help you approach the process with greater confidence.

1. Gather Your Medical Documentation

Start by collecting the information an insurer needs to understand your PTSD and overall health. This includes:

• The date of your PTSD diagnosis
• Your treatment history
• Your current healthcare provider and contact information
• A list of current and recent medications
• Information about other diagnosed health conditions
• Any other relevant medical records

You don’t need to hide your diagnosis or minimize your treatment history. The underwriter just needs a clear and complete understanding of your situation.

2. Get a Sense of Your Case Type

The severity and complexity of your PTSD help determine which coverage options are appropriate.

If you have mild or moderate PTSD that has remained stable with treatment, a traditionally underwritten policy is a reasonable option to explore. More severe PTSD or multiple co-occurring conditions could require a more detailed underwriting review or a different type of coverage.

That doesn’t mean a more complex medical history automatically prevents you from getting life insurance. It means your application needs to be evaluated based on your individual circumstances.

3. Speak with an Insurance Professional Before Applying

If you’re concerned about approval, you might consider connecting with an insurance professional before submitting an application.

An experienced underwriter can explain what information is relevant to your situation and what documentation you should prepare. This allows you to understand your options before committing to a particular application.

For Veterans with PTSD, this individual approach is particularly important because two people with the same diagnosis can have very different treatment histories, symptoms, and levels of stability.

4. Submit the Application with Full Transparency

Answer every medical question honestly and completely. Life insurance applications typically ask about conditions such as PTSD, anxiety, depression, and other mental health concerns, as well as medications and medical treatment.

Trying to conceal a diagnosis or leave out relevant medical information may create unnecessary problems and slow down the application process. Accurate information allows the insurer to evaluate your application appropriately and helps protect your coverage after the policy is issued.

5. If You're Declined or Rated Up, Ask Why

A denial or higher premium doesn’t necessarily mean you’re out of options.

Ask the insurer for the specific reason for the decision and whether there is a timeframe for reconsideration. For example, when Armed Forces Mutual can’t place an underwritten policy, we will indicate the requirements that need to be met by the applicant and a timeframe for reconsideration.

Your circumstances also change over time. If your PTSD becomes more stable, your treatment progresses, or other health concerns improve, those developments could be relevant to a future application or reconsideration.

6. Consider Guaranteed Acceptance Coverage as a Fallback

If traditional underwritten coverage isn’t available, guaranteed acceptance life insurance provides another option.

Guaranteed acceptance policies don’t require medical underwriting. For example, Armed Forces Mutual’s Guaranteed Acceptance+ is available to qualifying Members ages 35 to 64 with no medical exam or health questions. Coverage ranges from $5,000 to $25,000.

Guaranteed acceptance generally provides less coverage than a fully underwritten policy, so consider how much financial protection your beneficiaries need before choosing a policy.

Underwritten vs. Guaranteed Acceptance Coverage

Underwritten life insurance assesses your health and medical history to determine eligibility, coverage, and premium rates. Guaranteed acceptance coverage eliminates the medical review, making it a viable option when health concerns hinder obtaining traditional coverage.

Expert Perspective: Video Roundtable

Watch the video below to hear Armed Forces Mutual leaders discuss PTSD, life insurance underwriting, and the importance of evaluating each applicant individually. 

The discussion also addresses the stigma surrounding PTSD and explains how medical information related to PTSD is considered during underwriting. It also covers what a PTSD diagnosis means for people who already have life insurance and later decide they need additional coverage.

Get the Coverage You Deserve

Getting life insurance with PTSD starts with understanding how insurers evaluate your individual circumstances. Remember, your diagnosis is one part of the underwriting process, not necessarily the deciding factor.

If you’re a Veteran with PTSD and have had difficulty getting life insurance, contact Armed Forces Mutual at 877-398-2263 to discuss your coverage options.