Does Taking Xanax Affect Life Insurance? 
Yes , taking Xanax can affect life insurance premiums , but it depends on the reason for the Xanax -LRB- medical diagnosis -RRB- , frequency and dosage , and whether anxiety has a significant effect on one 's quality of life . If the diagnosis is periodic anxiety , using Xanax prn , and the applicant is able to hold down a full time job , the impact on life insurance rates will be slight . 