Pre-existing conditions and Income Protection

maggiemy76

Hello, I want to take out income protection that covers stress, anxiety and depression as well as physical aliments. i am on a very low dose of prozac and have been for over 10 years, due to a small episode of anxiety. I have never been off work for depression, stress or anxiety and i can get a note from my GP to confirm my details.

Even if i came off medication I wouldn't be entertained for at least another 3 years.

I can't find an insurer who will provide cover? I have no savings and would need a policy with a short deferment period. I understand the risk to insurers but surely this excludes many people from taking out this kind of policy.
Thank you.
Maggie

csgohan4

perhaps try an insurance broker who can try and find an insurer for you. You are right the premiums if you are accepted will be alot higher and you are higher risk by virtue on it being in your GP records.

MSE has a section on life assurance and some are the same providers for income protection

Weighty1

maggiemy76 wrote: »

Hello, I want to take out income protection that covers stress, anxiety and depression as well as physical aliments. i am on a very low dose of prozac and have been for over 10 years, due to a small episode of anxiety. I have never been off work for depression, stress or anxiety and i can get a note from my GP to confirm my details.

Even if i came off medication I wouldn't be entertained for at least another 3 years.

In all honesty, I'd be surprised if they'd consider covering you without a mental health exclusion unless it was at least 4-years, and the majority of providers 5-years, since last treatment, symptoms or consultations with your GP.

If it was a very small episode of anxiety then why have you been on the Prozac for 10-years? That would be the first question any underwriter would be asking (or at least thinking)

I can't find an insurer who will provide cover? I have no savings and would need a policy with a short deferment period. I understand the risk to insurers but surely this excludes many people from taking out this kind of policy.
Thank you.
Maggie

Many people are excluded from arranging long term income protection cover. People with diabetes for example. It's not the insurance companies fault that you have no savings and they shouldn't be obliged to offer cover for a condition which already exists.

There are providers who offer short term income protection cover (the old style Accident, Sickness and Unemployment type) and some of the better ones will cover mental health disorders without needing to be referred to a consultant but only if they are classed "severe" by your GP.

maggiemy76

Hello, thank you for taking the time to reply.
May I clarify that I did not at any point imply insurers were at fault due to having me no savings; also their obligation was not in question.
I am a little disappointed in your tone as I was only asking a question.
However thank you for your time.
Maggie