Life Insurance & Anxiety

bigbillbroonzy31

Hi,

I recently applied for life insurance but was turned down because I have a very mild anxiety disorder and am taking medication for it.

Does anyone know if there are companies who would accept me with this condition? The company I applied to said they would only review my application again after 12 months.

Thanks

BBB

dunstonh

Does anyone know if there are companies who would accept me with this condition?

Yes. There are insurers that focus on higher risk individuals.

starrystarry

bigbillbroonzy31 wrote: »

Hi,

I recently applied for life insurance but was turned down because I have a very mild anxiety disorder and am taking medication for it.

It would be unusual to be declined life cover just because of mild anxiety, so I'm guessing there's a bit more to it than that.

ACG

I would be surprised if they have declined your cover based on that alone.

They may decline it if you have had suicidal thoughts and it was fairly recent, but then i wouldnt class that as mild.

Out of interest who did you go to? I have had clients with depression, stress, anxiety in the past (all of those tend to come under the same banner) and all have had terms offered (some were rated or had an exclsuion applied) but none were declined outright.

bigbillbroonzy31

Thanks for the replies. There is no more to it than mild anxiety, no suicidal thoughts or anything like that. I'm on the smallest dose of citalopram available and was declined by Scottish Provident based purely on the anxiety.

I would be grateful if anyone could provide names of companies I might be able to approach as I feel it's unfair to be declined outright based on this.

starrystarry

bigbillbroonzy31 wrote: »

Thanks for the replies. There is no more to it than mild anxiety, no suicidal thoughts or anything like that. I'm on the smallest dose of citalopram available and was declined by Scottish Provident based purely on the anxiety.

I would be grateful if anyone could provide names of companies I might be able to approach as I feel it's unfair to be declined outright based on this.

Have you spoken to Scot Prov about it? I'd be amazed if they've declined you just for mild anxiety. It might be worth checking that the info they've based their decision on is correct. Have they requested a report from your GP? Do you have ANY history of suicidal thoughts etc, even if it was a while ago? Any other factors that might have contributed to the decision (e.g. drug/alcohol problems?)

ACG

Speak to them, if they have requested a GP report, they would usually give a more indepth reason to your dr. If not then you can speak to scot prov to ask the reason for it.

Just to put it into context, life insurance pays out if you die. Your extremelly unlikely to die from anxiety. There is no reason for a life insurer to decline you based on Mild anxiety.

kingstreet

Ask to see a copy of the report provided to Scot prov by the GP. You have the right under Access To Medical Reports Act (AMRA) to see any report upto 6 months after it is done. Scot Prov also writes a letter to your GP explaining the decision.

Worth noting AMRA also allows the doctor to withold from your view any part of the report he feels may be to the detriment of your physical or mental wellbeing.

I think the clue here is in the decision. Scot Prov has deferred cover for twelve months, not declined cover. This may mean we are simply too close to events or a diagnosis they are uncomfortable with and a period for a situation to stabilise will make them feel more comfortable in accepting the risk.

bigbillbroonzy31 - are you working with an intermediary or IFA on this?

bigbillbroonzy31

I was dealing with this application through an IFA. As far as I know they requested a GP report and I also had a 30 minute phone interview with a registered nurse as part of my application. They've obviously made this decision for a reason but like ACG says, I don't think I'm going to die from anxiety!

I am thinking of going it alone and applying to another company myself as I would really like some cover so my wife and 2 kids are looked after if the worst was to happen.

ACG

Speak to the life insurer. There is a reason for the decision. Its better to find out why then you know. If you take out cover and dont disclose something that is required then you could find your paying for somethign you cant claim on.

stephenni1971

I am pretty sure the reason for your problem is Scot Prov.

Their underwriters are very picky and I have experience of policies being postponed/declined for reasons which other insurers have no problem with.