Life insurance because I suffer from depression and anxiety

photoworks

I suffer from depression and anxiety.
I tried to look on Money Supermarket.com site to get a Life Insurance. and I got this message after having completed the questionaire. :

It looks like you need something a little more specialist…
Based on the information you’ve given us, we’re sorry that there aren’t any online policies that meet your needs. But don’t worry – our trusted life insurance experts LifeSearch can discuss your options and help find the best policy for you.

Does that mean that I cannot get a life insurance ?
I am worried after having read this article:

https://www.theguardian.com/society/2018/jan/19/people-with-mental-illnesses-refused-access-to-insurance-cover

Can anyone advise ?

elsien

No, it means that they may have queries about your health that need more information than you can give on an online form so you need to speak to a real person so they can better assess the risk.

photoworks

Do you guys know, then, where I can go to get a life insurance ?

elsien

You may need to try an independent broker.

csgohan4

Life search are a good company, I have used before, as above try another broker, but it maybe difficult to cover given your history

ACG

The online systems are generally geared towards those with no medical issues or other issues (such as employment or risky hobbies).

Mental health kind of varies and from minor (ie stress during your exams through to something far more serious). You will probably be able to get life insurance but how much it will cost and whether or not there will be a mental health exclusion will vary depending on the insurer and the details.

Speak to a broker and see what they say.

Weighty1

As above, LifeSearch are a good company. I used to work for them many moons ago. Some of the comparison sites use a system called Underwrite Me which enables them to compare the underwritten cost of insurance based on your medical disclosures. Based on that message it does appear that you may be getting declined cover through the insurers affiliated with UnderwriteMe, however, there are several companies who do not quote with them as well as specialist insurers whom cannot quote based on not having a full background.

With mental health disclosures there are certain things which can make it far more difficult to obtain cover. Suicidal thoughts or attempts within the last 3-years, multiple suicide attempts which are years apart. Hospitalisation on more than 1 occasion, the need to use anti-psychotic medication such as lithium alongside alcohol or drug misuse, all as examples.

That's not to say you can't get cover but you are likely to need to provide someone with a more in-depth knowledge of your background so that they can speak directly to the insurance underwriters to see if terms are possible.

Good luck

Weighty1

ACG wrote: »

You will probably be able to get life insurance but how much it will cost and whether or not there will be a mental health exclusion will vary depending on the insurer and the details.

Speak to a broker and see what they say.

No insurer will place any form of exclusion on a life insurance plan, apart from for hazardous pastimes and even then they'll only do it if requested to do so.