Can't get life insurance

Bosie

I have tried to get life insurance, not a massive amount but can't. I suffer with depression and when I apply it gets referred, they write to my doctor and I can't understand as it's not a major mental illness like schizophrenia. Has anyone on the board been able to get insurance with depression?
Feeling rather dejected.
Both Norwich Union and Legal and General have said no.

[Deleted User]

Hi Bosie
I'm sorry that you've had these problems (both in terms of your health and getting insurance). Have you spoken to a Financial Advisor? They may be able to give you an indication as to why your case is declined, and may also be able to phone and ask the companies directly before applying.

All the best,
Becca

poppy_f1

you could ask your doctor what he has written in the report, it may be something else thats stopping it not the depression

dunstonh

Depression comes in many forms and insurance. Depression due to a particular event (death in the family for example) is usually treated fairly low risk by insurance companies with a slight loading on the premiums after referring to doctors. Clinical depression (long term) is very high risk to the insurers and they may significantly increase premiums or reject the case out right.

What type of depression have you got? How long have you suffered?

minimike2

There are niche life insurance companies that would insure you, but in return for a hefy premium - a financial adviser would be able to arrange something for you.

Bosie

Hi dunstonh
It has been clinical depression, no suicide attempts and I take one antidepressant a day which has worked well.
I have contacted a broker to see if they can get me insurance.
I'm not far of 50 so my only option would be where they don't bother with health questions.
They are at a higher cost and LV and the Post Office Insurance you have to wait a year for them to pay out:eek:
Can you advise anything else?
Bo