Does Disability Insurance Cover Mental Health Issues?


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About one in five adults in the US has a mental illness, according to the study National Institute of Mental Health. And by 2020, there were approximately 14.2 million US adults with severe mental illness, defined by the National Institute of Mental Health as a mental, behavioral or emotional disorder that results in significant functional impairment.

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If you are dealing with mental health problems, it can prevent you from working. And if so, can you rely on disability insurance to cover your lost income? It’s over – here’s what you need to know.

Mental Health Issues Covered by Disability Insurance

We often think of disability insurance as a way to protect our finances in the event of an emergency, but it also involves psychological issues in some cases. According to the Social Security Administration Disability Benefits CenterThe following mental illnesses qualify as disabilities:

  • Anxiety Disorders
  • Anorexia
  • Attention Deficit Hyperactivity Disorder
  • Asperger’s Syndrome
  • Autism syndrome
  • Bipolar disorder
  • Depression
  • Drug Abuse
  • Dysthymia
  • Memory Loss
  • Confusion
  • Obsessive Compulsive Disorder
  • Organic Mental Disorders
  • Panic Attacks
  • Post Traumatic Stress Disorder
  • Somatoform disorders
  • Schizoaffective disorder
  • Schizophrenia

Many disability insurance providers also recognize that the disease itself is the cause of the claim. However, some mental health problems can give you a chance to become disabled.

“There is no list of mental health issues covered by disability insurance,” said Colin Nabity, CEO and co-founder. The wind, an online provider of disability and critical illness insurance. “Instead, it only looks at whether the problem is affecting your ability to work and earn a salary. This can be anything – depression, anxiety, emotional disturbances or fear.”

Not only is it possible to get disability insurance because of a mental health problem, it’s also very common.

“According to LIMRA, mental health issues such as depression and anxiety are the fifth leading cause of long-term disability and the fourth leading cause of short-term disability,” said Nabity. “Disability insurance is often used to protect your finances against mental health issues.”

How to Claim Disability Benefits Based on a Mental Health Case

The criteria for mental illness are very similar to physical ones.

“You have to get medical attention from an expert,” Nabity said. “If you’re dealing with a mental illness and it’s affecting you to work and it’s medically diagnosed, it can be covered by disability insurance pending other things.”

Insurance providers recognize that mental health issues can be as debilitating as an illness or injury, so it’s not difficult to tell because the issue may not be visible to the naked eye.

“Policies and carriers are taking the necessary steps to ensure that health issues are covered by disability insurance,” said Nabity.

How Disability Insurance Protects Your Money In The Event Of A Health Issue

Considering the high rate of mental illness in the US, you may want to consider getting disability insurance to protect your finances if you are unable to work.

“If you are unable to work due to a mental illness, disability insurance replaces your regular income – usually up to 60% – for a period of time that can be weeks, months, years or until you retire. years,” said Nabity. “The money from this benefit can be used for everything from paying off mortgages and credit cards to baby formula and food. So if you have a mental illness and are unable to work or earn money, your disability insurance can be used to pay for things instead of taking them.” credit card debt, personal loans or a retirement nest egg. ‘it’s been planning for the future.’

“Disability insurance can provide excellent financial protection if an injury, illness or mental health problem prevents you from working,” he continued. “Mental health issues are on the rise in the US and many workers are not provided with paid leave, so having disability insurance can give you peace of mind that your finances will not be affected if you need time off to care for your most important needs.”

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About the Author

Gabrielle joined GOBankingRates in 2017 and brings with her ten years of journalism experience. Before joining the group, he was a writer-reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and was featured on “Good Morning America” ​​as a celebrity media expert.