When considering life insurance, individuals with mental health conditions may wonder if cover is possible. It’s crucial to recognise that mental illness encompasses a broad spectrum of disorders, affecting mood, behaviour, and cognitive function. Conditions such as depression, anxiety, bipolar disorder, schizophrenia, and eating disorders fall under this category. These disorders often require long-term management and treatment. You may have thought “I can’t get life insurance because of my mental health”. However, despite the perceived challenges, life insurance cover is possible. Insurers understand the prevalence of mental health conditions and strive to provide inclusive policies. Whether you have an ongoing mental health condition or have experienced episodes in the past, there are policies available to suit your needs.

Does mental health affect insurance?

  The impact of mental health on life insurance varies among insurers. While some providers may adjust premiums based on the severity of the condition, others may offer standard rates depending on the individual’s circumstances. It’s essential to obtain quotes from multiple insurers to explore your options thoroughly.     Additionally, insurers may include clauses related to mental health conditions in policies. These clauses could affect the terms of cover, such as the exclusion period for certain events or claims related to the condition.  

Is a mental health condition considered a pre-existing medical condition?

  Yes, having a mental health condition is categorised as a pre-existing medical condition. Insurers may inquire about previous episodes and ongoing diagnoses to assess risk accurately. Some insurers may offer cover with specific conditions or recovery periods in place to accommodate individuals with mental health conditions.  

What is mental health insurance?

In the UK, Mental health insurance is an aspect of private medical insurance (PMI), providing cover for individuals seeking support for overall well-being in addition to or instead of NHS treatments. Unlike physical conditions, mental health conditions may not always be immediately diagnosed, posing challenges for those seeking treatment. Within private medical insurance, cover for mental health conditions often hinges on whether the condition has been formally diagnosed. If a condition hasn’t been diagnosed previously, individuals are typically eligible for private hospital treatment and other relevant services.

Private medical insurance and pre-existing medical conditions?

However, if the condition has already been diagnosed, cover for private hospital treatment may be limited. Despite this, some insurance providers offer alternatives such as Cognitive Behavioural Therapy (CBT), providing up to 10 hours of sessions to aid in managing mental health challenges. Mental health life insurance policies will pay out in the event of an individual’s death. In the UK, the terms of cover and cost depend on the insurer and the specific plan the individual needs. Some policies may offer extensive cover for a wide range of mental health conditions, while others may have limitations or exclusions based on pre-existing conditions or the severity of the condition.

How to obtain private medical insurance?

At The Insurance Surgery, due to our excellent reputation within the specialist life insurance industry, we can provide individuals with mental health conditions a life insurance product that offers better rates and terms of the policy. This product is exclusive to only 4 brokers in the UK and we are lucky enough to be one of them.

Questions and process

It’s important for individuals considering mental health insurance to carefully review the terms and conditions of the policy to understand what is covered and any limitations that may apply. Working with an experienced insurance adviser can also help individuals find the right mental health insurance plan to meet their needs. During the life insurance application, you’ll be asked some questions about your general health and lifestyle. The adviser may also ask the following questions relating to your mental health:  

• Have you been diagnosed with a specific condition?
• When were you first diagnosed?
• What are your usual symptoms, how often are you affected, and how severe are they?
• How do you manage and treat these symptoms?
• Have you ever been hospitalised due to your mental health?
• In some circumstances, we may also need to ask if you’ve ever experienced suicidal thoughts, attempts or self-harm.

  When applying for life insurance with a mental health condition, it’s essential to provide accurate information. Questions related to your condition, treatment history, symptoms and daily impact may be asked during the application process. While these inquiries may feel intrusive, they are necessary for insurers to evaluate risk accurately and ensure proper and valid cover is paid out to your loved ones.     Individuals with mental health conditions can obtain life insurance tailored to their needs. By understanding the options available and working with a knowledgeable insurance broker, individuals can secure financial protection for themselves and their families while managing their mental health effectively.  

To speak to a life insurance adviser, call The Insurance Surgery on 0800 083 2829 or start a live chat.

  For more information on support and services for mental health conditions, we have provided resource links below:  

• MIND, support and services: https://www.mind.org.uk/information-support/guides-to-support-and-services/ 
• NHS, support and services: https://www.nhs.uk/nhs-services/mental-health-services/ 
• Mental Health Foundation, support and services: https://www.mentalhealth.org.uk/explore-mental-health/get-help