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Your questions: Does life insurance pay out for suicide?

Does life insurance pay out for suicide?

Most people would not usually think to find out whether their life insurance policy pays out for suicide. The fact is that almost all standard life insurance policies will pay out for claims form suicide after an initial qualifying period.

Here we look at what the rules are around claims for suicide from a life insurance policy in the UK. Even though this is an incredibly difficult subject to discuss for most, unfortunately it is a valid question.

We’ll consider which insurers will pay out for suicidal death and what the clauses are.

What is a suicidal death clause and how does it work?

The majority of life insurance policies in the UK will be written with a suicidal death clause. This clause sets out the terms and conditions for payment of a claim from suicide and how the cover would apply to your policy.

What does a suicidal death clause do?

A suicidal death clause typically relates to a time period from the start date of the policy (inception). This time period is where a claim would not be paid in the event of suicidal death.

How long would I not be covered for under a suicidal death clause?

The majority of suicidal death clauses will last for a period of 12 months from the start date of a policy currently, however some are 24 months. This time period is subject to change and may vary from one insurer to another.

Will my life cover pay out for suicidal death after the exclusion period?

The short answer is, yes. After the initial exclusion period of 12 or 24 months, you’ll be fully covered under most life insurance policies in the UK. If a claim is raised for suicide then the insurer may ask for medical evidence or a hospital report.

The main reason for a claim being declined is ‘non-disclosure’ so make sure that you tell your insurer everything about your health when you apply. You may be asked some quite personal and difficult questions, this isn’t unusual and just be as honest as you can.

What are the main life insurance providers in the UK that cover suicide?

Below is a table of the Top 10 insurers that pay out for suicide and the terms of the suicide clause:

Insurance provider Suicide cover Initial period for when suicide is not covered
Aegon Yes 12 months from the policy start date
AIG Yes 24 months from the policy start date
Aviva Yes 12 months from the policy start date
Beagle Street Yes 12 months from the policy start date
Legal & General Yes 12 months from the policy start date
LV= Yes 12 months from the policy start date
Royal London Yes 12 months from the policy start date
Scottish Widows Yes 12 months from the policy start date
Vitality Yes 12 months from the policy start date
Zurich Yes 12 months from the policy start date

 

Can I get life insurance if I suffer with a mental disorder?

Life insurance applications have changed dramatically over the past several years for mental health. Modern versions of the life insurance application form will ask a set of standard questions about mental health, suicide and/or self-harm.

This is mainly due to the number of claims that have been paid in recent years due to suicide, and the prevalence of mental health.

You might be asked a number of questions about your mental health and to provide information about any personal issues. We appreciate that this can be incredibly difficult for people to answer in some situations but it’s important to let your insurer know about it.

What questions will I be asked about my mental health?

When you speak to one of our advisers, you’ll be asked questions about mental health, self-harm and suicide.

Some of the questions might be:

  • Have you ever harmed yourself or thought about harming yourself
  • What type of mental disorder you suffer from
  • Have you ever been referred to a specialist or admitted to hospital
  • What type of medication / treatment do you receive
  • When were you diagnosed with the mental disorder

Is it possible to get life insurance if I’ve attempted suicide or harmed myself?

It may be possible in a lot of cases to get life cover if you’ve previously attempted suicide or self-harmed. There are some insurers who are more sympathetic than others to people who’ve had previous more severe problems connected to mental health.

There are a number of potential things to consider if you’ve had severe mental health symptoms or issues. It’s often better to speak to an expert like iam|INSURED, who can guide you better because:

  • Advisers who understand your needs and circumstances
  • Able to find the fairest price and the best cover
  • Be sympathetic to your needs
  • Know which insurers are best for your situation / history

What if I’ve been declined cover in the past because of mental health?

It is possible that you might have previously applied for life cover, but were declined because of your mental health. It’s also very possible that a specialist or expert such as iam|INSURED can still get cover for you.

Also there are a number of reasons why cover may now be available where it wasn’t previously:

  • Change in underwriting
  • Applied to the wrong insurer
  • Improvements in your health
  • Time has passed since your last application

If you need advice or help with life insurance and have mental health issues then you can contact iam|INSURED on 0800 009 6559

The complete guide to Mental Health Conditions and life cover

How have things changed for people with mental health who want life insurance?

Author: Daniel Sharpe-Szunko

We’re often asked to find life insurance by people who suffer with mental health. We appreciate that it’s very difficult to have to share very personal information about your mental health with someone you don’t know. It’s even worse if the person that you’re speaking to doesn’t understand you.

Mental health is one of the hottest topics in the medical world today, which also applies to life insurance. It’s got to be one of the most difficult subjects because of the numerous stigmas around mental health. Another possible problem is that there are no specific symptoms for mental health so it’s difficult to assess.

What’s different about a mental health life insurance expert?

iam|INSURED is a life insurance expert dedicated to helping people with mental health issues and other medical conditions. Over the past 20 years, our team of advisers has helped thousands of people to get the protection they need for their families.

How has life insurance changed for mental health?

We think this is very important to explain, simply because of how far things have improved over the past 20 years. There’s probably a number of key points to consider when looking at how things have moved on for this, such as:

  • People in general are more aware of mental health
  • Greater understanding about mental health conditions
  • Less stigma around mental health
  • Treatments have also improved

Over the past 2 decades we’ve seen major changes in how we talk about mental health and treatment. This group of conditions covers a huge range of different types of mental health related problems, as well as being linked to many other medical conditions.

When we talk about managing a medical condition such as MS, Diabetes, Cancer or Heart Disease, it’s often linked to mental health. It seems logical that someone having to manage, monitor and maintain a medical condition, may also have to cope with Stress or Anxiety.

Previously with mental health and life insurance it was difficult to understand how that may affect you physically. It’s easier to assess someone physically than mentally simply because of the symptoms and treatments.

Do I need to speak to someone about my mental health to get life cover?

One of the most important issues that we face and our customers face, is having to discuss distressing events with us. We appreciate that it’s a very sensitive subject and that it can be extremely disturbing to have to talk about your mental health.

The fact is that in most cases to get the best advice, it’s important to disclose facts about your health. If you’ve had problems with mental health in the past then you may need to talk about that with your adviser.

Some of the questions you might be asked may include:

  • Have you suffered from Stress, Anxiety, Depression or another mental health issue?
  • Have you ever been admitted to hospital due to mental health or been treated by a psychiatrist?
  • Have you attempted to take your own life or had suicidal thoughts?
  • Have you intentionally harmed yourself or thought about harming yourself?
  • When did you first have symptoms?
  • Are you waiting for a hospital referral or to be seen by a specialist?

These are just some examples of the types of questions that you might be asked when applying for life cover. As you can see, these questions are quite personal and could be distressing to discuss.

We’ve got a team of experts who understand this and have years of experience, so this is important for us.

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