Recommended insurance for first time buyers with mental health issues

SeaAndSky

Hi,

About to buy our first flat and using a mortgage broker, who has recommended:

Mortgage Life insurance
Income Protection
Contents insurance

We're wondering if she's trying to upsell a bit too much, it adds up to about £90 for two people for those three products (building insurance included with property)

A short description of us:
Late 20s couple
Both employed in London
Looking to have kids asap (so I'll be off work at some point)
One with history of suicidal thoughts, the other with generalised anxiety disorder

I mention the last point as this is what affects my choices -
Life insurance premiums may be high
Income protection may be good as I'm worried my partner may need time off work one day due to depression

Makkusu

I don't have much knowledge with this at all, but I've recently had to take several months off work due to stress, depression, anxiety and I didn't have any income protection in place, so, it's very wise and worthwhile in my opinion.

That's the only input I have unfortunately, take care. ����

csgohan4

with that history of mental health, you may find he premiums will be high or some will not cover. You need a broker to help you out, MSE does have an article on life insurance e.t.c, you could try the list

alchemist.1

You will need a broker, just to make sure all your pre existing issues are covered. There is no way anyone on here cn give you an exact answer without being in the business and you providing your full details.

There will be a question whether an insurer will cover you aswell.

As for brokers i used one of the upfront fee free ones from the comparison sites and they were very helpful with pre existing issues.

ACG

Are those premiums standard rates? They could well increase after underwriting.

To be honest, I am a massive believer in income protection. It is more expensive but that is for a reason...it is more likely to pay out.

alchemist.1

They increased after referral. I presume they were referred to an underwriter (if that is the normal procedure).

ThinkingOutLoud_2

It is worth trying alternatives to a mortgage broker for sure.

It is not easy possible to tell if you need a truly specialist life underwriter or if you might find cover with a more standard market insurer albeit at increased terms.

To be honest - you should try the comparison engines for the home and contents. Your conditions won't affect the house.

Try here - http://www.mind.org.uk/information-support/guides-to-support-and-services/insurance-cover-and-mental-health/#.WP5n6YHTWEc