This article by Andy Marshall explains the impact of mental illness on insurance claims and discusses whether depression is being over-diagnosed. In this case the context is medical insurance in Australia. However, it is worth a look as it also covers some of the ground rarely traversed by New Zealand media when they are unhappy that an insurer can discriminate on the basis of mental illness of any kind, including depression. It does have an impact, and although most people with depression will live full lives, others, sadly, will not. Everyone needs to price the cover for that extra risk.