Frequently Asked Questions
About Mental Health
Frequently asked questions about Life Insurances & Income Protection when living with a Mental Health condition.
Can a person living with a mental health condition still get life insurance?
Can a person living with a mental health condition still get life insurance?
Yes. A person living with mental health issues can still qualify for a range of life insurance products but additional information about your health would be needed first for the insurance underwriter to make a better assessment about what cover you may qualify for.
Is there a difference between current and historical mental health when applying for life insurance?
Is there a difference between how current and historical mental health issues are assessed by a life insurance company?
Yes. People living with current or active mental health issues can still be successful in applying for life insurance cover but would usually have a mental health exclusion clause applied to the policy.
Once they are living symptom and treatment free for a reasonable period of time, any mental health exclusion clause applied to an insurance policy can be reviewed and removed.
This is why you need to work with a specialist risk insurance adviser to find the best insurance application strategy for you and then work with you later for the best policy update and review strategy, as your health improves.
I have a current Mental Health Care Plan (MHCP) so can I still apply for insurance cover?
I have a current Mental Health Care Plan (MHCP) so can I still apply for insurance cover?
Yes. When you need insurance cover, apply for it as soon as you can. Once you're living symptom and medication free for a reasonable period of time, work with your adviser to review and remove any mental health exclusion clause applied to your policy.
Does a Mental Health Care Plan (MHCP) mean I could never be eligible for personal insurance cover?
Does a Mental Health Care Plan (MHCP) mean I could never be eligible for personal insurance cover?
No. Some people use a mental health plan to increase their life and professional skills, personal awareness and insights while others as a support to a mental health diagnosis. Depending upon each person's personal situation, their health, occupation and their following their MHCP, different levels of time may be needed symptom and medication free, before full insurance cover is available to them.
Can a person with a previous mental health condition qualify for life insurance?
Can a person with a previous mental health condition qualify for life insurance?
Yes. Insurance underwriting rules usually require a person to live symptom and medication free for a reasonable period of time and recognise that many people who were once living with mental health issues improve their health, happiness, recover and go on to lead busy and authentic lives.
This is why you need to work with a specialist risk insurance adviser who understands mental health management and recovery.
- Are all mental health conditions treated the same by a Life Insurance company?
- How does a mental health condition affect the cost of a life insurance policy?
- Is reactive grief treated the same as long term depression?
- What additional information is needed when applying for life insurance and living with depression?
- I have a 10 Session Counselling Plan from my GP. Does this stop me getting life insurance?
