First time buyer - Life cover help for those with mental illnesses

Bcrans

I’m a 23 year old first time buyer and am in the middle of setting up my life insurance policies without Royal London. My policy covers critical illness, sick pay, and life insurance.

I myself suffer with depression and I am taking out a joint policy with a sibling who does not. Royal London have said they will not pay out for claims that involve anything to do with depression. Has anyone ever used an insurer that does actually cover this?

My biggest worry right now is taking out cover for something that would not even benefit me if the worst did happen (being off work for long periods of time etc). Can anyone help!?!?
Any opinions/help would be very much appreciated

Thanks!

Cyclizine

It's normal for there to be exclusions for claims arising from pre-existing conditions, particularly critical illness cover. You can get policies that will cover this, but be prepared for them to be expensive. Is Royal London the firm recommended by your mortgage provider? You might be best going through an independent broker.

ACG

It would still pay out, just not for something involving mental health.

If you were unable to work due to cancer for example (touch wood that does not happen), then you would be able to put a claim in for critical illness and sick pay. It is then down to the insurer to investigate and decide whether to pay out or not, but as cancer is not related to mental health, it would not be declined because of that exclusion.

With critical illness there are around 50-55 conditions, very few of those would have any link to mental health.

With income protection, it would pay out for anything other than things related to mental health. The big one here, would be stress. But it would still cover things like cancer, heart attack, stroke, bad back etc.

But pre existing conditions are usually excluded with all insurers.

wjr4

Why are you taking out a joint plan? You'd be better off with two separate ones surely as you may not need a policy with a sibling in the future and/or your sibling has no health issues so it might be cheaper elsewhere?