Life Insurance Help

april87

Hi,

I wonder if anyone could help but I am trying to get life insurance. However, when filling out the form it asks about mental health etc. Now the issue is, I was hospitalised about 8/9 years ago for 48 hours and then released. I also tried to commit suicide/self harm in my early teens. I have worked hard to get past it and for the past 6/7 years have been fine. The problem is I have been declined for a few policies when applying, one being an online broker recommended by MSE. How do you go about getting insurance cover when your being declined for something that isn't relevant anymore?

Thanks in advance for any feedback.

kingstreet

There are specialist providers for "impaired lives" and these are best accessed via IFAs or independent protection specialists.

csgohan4

april87 wrote: »

Hi,

I wonder if anyone could help but I am trying to get life insurance. However, when filling out the form it asks about mental health etc. Now the issue is, I was hospitalised about 8/9 years ago for 48 hours and then released. I also tried to commit suicide/self harm in my early teens. I have worked hard to get past it and for the past 6/7 years have been fine. The problem is I have been declined for a few policies when applying, one being an online broker recommended by MSE. How do you go about getting insurance cover when your being declined for something that isn't relevant anymore?

Thanks in advance for any feedback.

To the mainstream insurers it is relevant as everything is based on risk and statistics. As Kingstreet said, engage a specialist broker

Chris_Pollard

April, as mentioned above, contacting a protection intermediary specialist could be the best course of action. They may well contact their preferred insurer "panel" with details of your past history to save you, and them, completing a full application.

The episodes you mention occurred some time ago, and most underwriters would take into account your stable situation from the last 6/7 years, but might consider that the previous early teen and subsequent hospitalisation represent too great a risk for the long term. You could contact some firms direct, such as LV= and Pulse, both of whom would be able to take down just the relevant details and then liaise with their underwriters.

The fact some insurers may have rejected an application does not mean that all insurers will.

Some insurers "cherry-pick" risks and accept, rate, or reject based only on the application information. You might be better placed to find a firm that is prepared to seek medical evidence from your GP and give you a bit more individual consideration.

Best of luck.

april87

Thanks guys, will get looking into this. One of the things you never think mental illness would have a big knock on effect on. Oh well. I'm sure I'll get something

ACG

I agree with the above, we do not know the full details but it may be possible with discussion with an underwriter to obtain cover. It may be that there is a "mental health" exclusion, but it comes down to the details.

april87

Another question sorry, I have spoken with an insurar/broker person and I just want to clarify something before he calls back tomorrow. He said I was declined for the policy - life insurance & critical illness. He stated that I would probably find it very hard to find critical illness does anyone know if this is the case? He also said he could probably find me life insurance cover.

Thanks for the help so far

csgohan4

Unfortunately, it's their rules, their policy if that is what your broker has found. Mental health is certainly a risk and an expensive one at that for the insurers.

april87

Thansk Csgohan I just wanted someone else to back up what he said that is all.

ThinkingOutLoud_2

It is the sad truth. When you have had a previous illness that it can affect your ability to get cover.

However you should not give up as the others have said. The mainstream insurers don't tend to take "higher risk" lives at all.

This means that smaller specialist companies have focussed on this. The underwriting is usually done per individual and often medical reports are sought to ensure a fair / relevant premium is quoted. The Premium will be higher.

As Chris Pollard said - there are several to try including Pulse-Insurance.co.uk. Search google for "declined life insurance" to find more.

If you speak to them; they will be able to clarify how it affects other types insurance which you are sensibly considering.