How to handle therapy questions?
I just applied for life insurance through Policygenius but I think I’m going to back out and start over somewhere else, because I panicked and said “No.” to all the questions like “Have you ever been to therapy?” or “ever been treated for anxiety or depression?”, when in fact I should have said yes — several years ago I was depressed/anxious in grad school and tried taking a low dose of Citalopram for a year or two.
I’m worried that if I do die, they’ll refuse to pay out to my family because I hid those facts on my application. Is that a potential risk? I’m 100% certain I won’t die of anything depression-related, but I’ve heard insurance companies look for any way out of paying claims.
I guess the other risk is that once they start digging through my medical records, they’ll see that I took Citalopram 10 years ago? Then what happens?
If I start a new application and share those facts, does anyone know how much it raises monthly costs to have that on your history? Would anyone recommend just getting AD&D instead, since that would presumably not cover any depression-related causes of death?
For reference I’m a 36yo married male, perfectly healthy, I’m not depressed or taking any medication right now though I do see a therapist. I don’t drink or smoke. My parents are alive and healthy at age 70. I got quotes for a 30-year term life policy for $1M coverage and it was like $66/month. My old employer’s group policy is giving the option for “Portability” to carry it on as an individual policy but it costs a lot more for less coverage: $158 for $890k (545 term life + 345 AD&D).