Life Assurance and self harm

[Deleted User]

dunstonh said:

[Deleted User] said:

dunstonh said:

Write to your MP and ask them to do something about this.

Do what exactly?

Life assurance is underwritten based on your health.   So, any health condition is going to have an impact on the premiums or acceptance of cover.    

Change the law to make considering such things illegal. Like it's illegal to give women cheaper car insurance, even if statistically they might be lower risk.

Kiss goodbye the retail market.  All you would have to do is wait until you are ill and then buy life assurance.

Don't be daft.

[Deleted User]

Nearlyold said:

[Deleted User] said:

dunstonh said:

Write to your MP and ask them to do something about this.

Do what exactly?

Life assurance is underwritten based on your health.   So, any health condition is going to have an impact on the premiums or acceptance of cover.    

Change the law to make considering such things illegal. Like it's illegal to give women cheaper car insurance, even if statistically they might be lower risk.

What would you include in the "such things" that Insurance Companies would no longer be allowed to take into account in assessing a life insurance application - Presumably not Terminal Illness, Cancer. Heart Problems, Attempted Suicide, Alcohol/Drug Abuse, Depression. If not these, then what health conditions/risk factors would have to be acccepted  which would previously be a decline or loading?

Conditions that are long term but not usually fatal. Depression, long COVID, other manageable diseases.

It's one of those cases where the benefit to society is worth the extra risk profile spread among everyone. As with gender equality and the like. At the moment there is a strong incentive not to seek treatment if you need or think you will need life insurance soon.

dunstonh

[Deleted User] said:

dunstonh said:

[Deleted User] said:

dunstonh said:

Write to your MP and ask them to do something about this.

Do what exactly?

Life assurance is underwritten based on your health.   So, any health condition is going to have an impact on the premiums or acceptance of cover.    

Change the law to make considering such things illegal. Like it's illegal to give women cheaper car insurance, even if statistically they might be lower risk.

Kiss goodbye the retail market.  All you would have to do is wait until you are ill and then buy life assurance.

Don't be daft.

Really?        You don't appear to understand the consequences of what you are asking for by removing the ability to underwrite on health.

Conditions that are long term but not usually fatal. Depression, long COVID, other manageable diseases.

Depression can lead to fatality.