Mortgage Query

xirokx

Hi,

A friend is trying to get life insurance cover for his mortgage but unfortunately the likes of Bupa and Scottish Life will not insure him because he suffered from mild depression 5 years ago, well thats what his mortgage advisor is saying.

He is on medication but its not strong medication like prozac. He has been working for the last few years consistently. His depression was ever so slight in the sense he was seen my a counsellor but was never hospitalized for it.

His mortgage advisor has confirmed firms are reluctant to insure him due to the mild depression but he is unsure whether this is true? Also he fears that he if applied to a cheaper firm then they would not provide cover for everything?

Can anyone please help my friend?

Thanks in advance

hazeyj

Hiya I have just been turned down for life insurance beacuse of a simialr thing. I am actually cured now and have come off prozac after 5 years and this seems to worry the insurer more than actually being on prozac. Also you need to see what his GP has put in the report to the insurance co. Its up to your mortgage advisor to keep on trying to find another co who will take him on. If you let me know your email address I will let you know who I eventually end up with.

Fairdo_2

I have been able to place cover for many people with mild and even some with severe depression, including some that have been suffering the condition at time on the Application. As mentioned in the previous post, a lot will depend on the level of the condition, as described by his GP for example.

It does help at the time to "Multi-Prop" (send several applications in to different companies at the same time), so that the answer no to the question, "have you ever had terms imposed, or been refused cover before?"

For your friend, he will now have to mention the applications already sent.

I would say that there should be companies out there who may provide cover, either on standard terms, or more likely now with a loading of premium or set exclusions.

I'm sure there will be a few other professionals who can contribute to this thread soon.

I know it can be done, as I have done it on several occassions before.

hazeyj

Heloo...can you recommned anyone please for us depressives ?