Life insurance, history of mental illness

Smurfette76

Hi I’ve been thinking about life insurance for a while, I’ve just had my 3rd child and I’m now a single parent, I’d love to get life insurance to settle my worries incase the worst happens however the places I’ve tried have all said no because of my history of mental illness. I tried to commit suicide in 2006 and 2013, I got a diagnosis of personality disorder after the second attempt and since then I have made amazing progress and haven’t had any suidicial thoughts since 2013! I’m on medication and have done 2 rounds of psychology since 2013 but I’m in the best place I’ve ever been now and now know the warning signs and seek help when I need it. My problem before was I was misdiagnosed with depression so the treatments didn’t work but now I have the correct diagnosis I’m much much better. But I’m finding no where is willing to give me life insurance.

Does anyone have any advice or anything on what I can do?

Thanks

jonesMUFCforever

It's good that your treatment is now working - well done.
You can't make anybody give you a life assurance policy and in your case it might well be that the premiums would be prohibitive.

With that in mind why not put aside the amount you would be comfortable to pay monthly in a savings account for your children?

csgohan4

you could try a life assurance broker, but likely the premiums will be high or they won't cover you at all

Weighty1

The problem is that when you've had 2 periods of suicide attempts which are 7-years apart then insurers start thinking really long term and often won't consider offering terms until at least 10-years after the last suicidal thoughts/attempts or bout of self harm.

Obviously, feel free in keep applying to various providers but I think the best likelihood of obtaining cover would be via a guaranteed acceptance plan and this would likely exclude death due to suicide or a pre-existing condition.