Life insurance companies do consider depression when determining rates.
Life insurance carriers look at every aspect of life to determine your risk of dying. Your personal risk factors will help the insurer determine your expected longevity - how long they expect you to live.
There are many different levels of depression and that is what the life insurance carrier wants to understand before determining your rate for life insurance.
Is your depression caused by a situation, a chemical imbalance, or is your depression clinical?
Do you have mild, moderate or severe depression? Do you have a history of hospitalization, and/or suicide attempts?
Also, the types of medication and length are all going to be factors in determining your rate for life insurance coverage.
Here's how you can learn about high risk life insurance and compare rates online.