Life Insurance - Pre existing mental health

wacsa

Hello All,

Can anybody recommend a broker or insurance company directly, that is sympathetic (will provide cover and not increase premiums by a huge amount) towards people with mental health problems?

I've read a few articles and checked mental health help organisations websites and got a few insurers names to check, but anybody with first hand experience who may have recommendations would be very helpful too.

Not sure if this is an urban myth or partly true (depending on the insurer I suppose), but do insurers refuse to pay out if someone commits suicide within two years of their policy starting?

Thanks for any help in advance.

Quentin

Insurers do take precautions against someone taking out massive policies in preparation for suicide by excluding it for a period (12/24 months is the norm).


And wouldn't be paying out if mental health/depression etc were pre existing but not disclosed.

TrickyDicky101

I was under the impression that suicide was excluded from all policies (without an investment element) for death cover irrespective of whether individual has mental health problems?

dunstonh

TrickyDicky101 wrote: »

I was under the impression that suicide was excluded from all policies (without an investment element) for death cover irrespective of whether individual has mental health problems?

No. Most policies will cover suicide after a defined period (typically 12-24 months). However, where there have been mental health issues, it is not uncommon to find an exclusion of death from suicide.

TrickyDicky101

dunstonh wrote: »

No. Most policies will cover suicide after a defined period (typically 12-24 months). However, where there have been mental health issues, it is not uncommon to find an exclusion of death from suicide.

Thank you. I am genuinely surprised by that.

InsideInsurance

dunstonh wrote: »

No. Most policies will cover suicide after a defined period (typically 12-24 months)

Is that historically true or a more modern position?

dunstonh

InsideInsurance wrote: »

Is that historically true or a more modern position?

Not sure. I have been doing this for 20 years. Its certainly true of a decade ago as I recall a case in question. However, cant really remember if it was like that 20 years ago.