Mental Health Life Insurance

Mental health life insurance

The term ‘mental health’ is defined by psychological, emotional, and social well-being. This means that how we act, feel, and think are all part of our mental health. It also includes how we manage stress, relate to other people, and the choices we make.

Mental health is incredibly important at every stage of our lives, including childhood, adolescence, and all the way through adulthood.

There are seven emotional components that help us to stay mentally healthy:

• Stress relief
• Nutrition (diet)
• Sleep (rest)
• Exercise
• Social interaction
• Kindness
• Spirituality

Life insurance for someone who suffers from a form of mental health is often readily available and affordable.

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Talking about mental health with your life insurance advisor

One of the most difficult things about applying for life cover with mental health issues is talking about it with a virtual stranger. You might have to answer questions that may seem inappropriate or insensitive which can cause added stress.

It is therefore important to speak to someone that understands your needs and is sympathetic.

There’s nothing worse than having to share your inner-most secrets with someone that doesn’t appear to care. Some questions that you will be asked aren’t the most comfortable so be prepared for some elements of difficulty.

Life insurance questions about mental health

Here are some examples of the questions that you might be asked to answer when you apply for life insurance with a history of mental health:

• Have you ever: Tried to take your own life / Had thoughts about taking your own life?
• Have you ever: Intentionally harmed yourself / Had thoughts about harming yourself?
• Have you ever been hospitalised or been referred to a psychiatrist due to mental health?

We appreciate that the answers to these questions can be incredibly sensitive and cause trauma. It is important to make sure that you are treated fairly and compassionately around your mental health.

Note: All this being said, it is very important that you answer all questions as honestly and openly as you can. If you are struggling to answer certain questions, then it’s worth letting your adviser know and they can work out the best way to help you.

Can I get life insurance because of mental health?

Yes – you can get life insurance if you’ve suffered from issues because of mental health. Getting the best cover to protect your family and paying a fair price is crucial, so make sure you check with an expert.

Some insurance providers are better than others for mental health, especially where there have been problems with:

• Self-harm or thoughts about self-harm
• Attempts to take your own life or thoughts about taking your own life

Life insurance for mental health has evolved over the past two decades as we’re now seeing more people talking about this subject. There has been a lot of work done by mental health charities to help reduce the stigma around mental health.

Does mental health affect life insurance?

No – the cover itself will be exactly the same as any other life insurance policy. What this means is that when you take out a new policy that you’ll be covered for everything.

There is often an exclusion for suicide in the first 12 or 24 months of any new life insurance policy. This is normal and you shouldn’t worry about this as it’s not due to your mental health issues.

More about life insurance suicide exclusions

Does critical illness cover mental health?

There are policies available that provide very specific cover for problems connected to mental health. Some critical illness cover policies will pay-out if you suffer an episode of mental illness that seriously affects your life.

Some insurers have specifically designed policies that are designed to protect your family if you suffer from mental health. These critical illness cover plans are often an added extra so you should discuss this with your advisor if it’s something that you’re interested in.

Mental illness that seriously impacts your life

These policies recognise that serious mental health problems can have as much of an impact on your lifestyle as a physical condition. According to Mind Charity, as many as 1 in 4 of us will struggle with mental health at some point in our lives.

Some critical illness cover policies will pay-out for serious mental health resulting in:

• Being unable to work for at least 12 months
• Needing inpatient care continuously for at least 2 weeks
• Ongoing symptoms that are expected to remain with you according to your GP
• Being unresponsive to treatment for at least a year

The benefit from your critical illness cover policy may enable you to continue to support your family financially. You shouldn’t need to dip into your savings and you can also pay for specialist treatment or care.

NOTE: If you have suffered from moderate or severe mental health problems in the past then you probably won’t be eligible for this cover.

Is mental health a pre-existing condition?

A pre-existing medical condition is defined as something that you have suffered symptoms, received treatment or medication for, over a period of time. Some conditions may be ever had and some may be within a period of time (e.g. within 5 years).

Conditions that will be classed as ever suffered from include:

• Eating disorders
• Bipolar disorder
• Manic depression
• Schizophrenia
• Psychosis

Conditions that will be classed as within the past 5 years include:

• Depression
• Anxiety
• Stress

There’s a range of mental health-related conditions that are classed as severe because of their symptoms. There is also a range of mild to moderate mental health conditions because of the relatively low impact they have.

Does seeing a psychiatrist affect life insurance?

You will be asked whether you have been referred to a psychiatrist or a specialist because of your mental health. This can be a positive because it means that you have received treatment or proper care.

It is usually part of the application to be asked about any treatment (e.g. CBT) or specialist care that you have received. This is purely to see whether you are or have been through a process to try to help you with your mental health.

What insurance has the best mental health coverage?

There are three main types of life cover which include life insurance, critical illness cover, and income protection. You can also get health insurance or private medical insurance to help pay for specialist treatment if you are unwell.

Life insurance: will pay out a tax-free lump sum if you pass away for any reason (excluding suicide in the first 12 or 24 months), so this is a comprehensive type of cover

Critical illness cover: pays out a tax-free lump sum if you are diagnosed with a serious or critical illness listed on your policy wording. Some of these policies will pay out for mental health-related problems

Income protection: will pay out a monthly income to replace your salary if you are unable to work for a period of time (usually 1 month to 12 months), depending on your coverage. This will usually exclude mental illness if you disclose mental health problems on your application

Health insurance: this type of policy will pay for private medical treatment that may not be available on the NHS, or help you to avoid NHS waiting times. There are elements of support available for mental health problems on these policies

Which insurance companies covers mental health?

Most of the UK’s top life insurance brands offer some levels of coverage for people with a history of mental illness. There are some insurers that are clearly better than others when it comes to mental health underwriting, depending on your condition and symptoms.

Currently, there are two or three insurance providers in the UK who are specifically good with applications for life insurance with mental health. However, this can change and usually will rotate through other companies every 1 to 2 years as underwriting develops.

What impact does mental illness have on families?

The effects of mental illness on families with children can be dramatic but also can be insignificant. This depends on the type of mental illness and the level of severity of any symptoms.

Young children can be seriously impacted by a parent who is suffering from mental illness. It can be an incredibly difficult time for any family, as we all know, raising children is incredibly difficult and stressful.

If you couple this with a mental health problem, it can significantly add to the stresses for both parents and the children.

Types of mental health

There are literally hundreds of different types of mental health problems and illnesses. Most of these are common conditions but there are also some that are rare and more difficult.

A to Z of mental health

A

Acute stress disorder

Adjustment disorder

Agoraphobia

Alcohol abuse

Alcohol addiction

Alcohol dependence

Alcohol withdrawal

Alcoholic hallucinosis

Alice in Wonderland syndrome

Alzheimer’s disease

Amnestic disorder (Amnesia)

Amphetamine dependence

Anosognosia

Anorexia nervosa

Anterograde amnesia

Antisocial behaviour

Antisocial personality disorder

Anxiety disorder

Asperger syndrome

Attention deficit hyperactivity disorder

Attenuated psychosis syndrome

Autism spectrum disorder

Autophagia

Avoidant personality disorder

Avoidant/restrictive food intake disorder

Atypical depression

B

Bibliomania

Binge eating disorder

Bipolar disorder

Body dysmorphic disorder

Borderline intellectual functioning

Borderline personality disorder

Breathing-related sleep disorder

Brief psychotic disorder

Bulimia nervosa

C

Caffeine-induced anxiety disorder

Caffeine-induced sleep disorder

Caffeine dependence

Caffeine withdrawal

Cannabis dependence

Capgras delusion

Catalepsy (Narcolepsy)

Catatonia

Catatonic schizophrenia

Childhood amnesia

Childhood disintegrative disorder

Childhood-onset fluency disorder

Child neglect

Circadian rhythm sleep disorder

Claustrophobia

Cocaine dependence

Cocaine intoxication

Cognitive disorder

Communication disorder

Conduct disorder

Conversion disorder

Cotard delusion

Cyclothymic disorder

D

Delirium

Delusional disorder

Delusional parasitosis (Ekbom’s syndrome)

Dementia

Dependent personality disorder

Depersonalization disorder

Depression (mood)

Depressive personality disorder

Dermotillomania

Developmental coordination disorder

Diogenes syndrome

Disinhibited social engagement disorder

Disorder of written expression

Dyspareunia

Disruptive mood dysregulation disorder

Dissociative amnesia (Psychogenic amnesia)

Dissociative identity disorder

Down syndrome

Drug withdrawal

Dyscalculia

Dyslexia

E

Encopresis

Enuresis

Erectile disorder

Erotomania

Excoriation disorder

Exhibitionistic disorder

Expressive language disorder

F

Factitious disorder

Female sexual arousal/interest disorder

Folie à deux (Shared psychotic disorder)

Fregoli delusion

Frotteuristic Disorder

Fugue state

G

Gambling disorder

Ganser syndrome

Gender dysphoria

General adaptation syndrome

Generalized anxiety disorder

Grandiose delusions

H

Hallucinogen persisting perception disorder

Haltlose personality disorder

Histrionic personality disorder

Hoarding disorder

Huntington’s disease

Hyperkinetic syndrome

Hypersomnia

Hypoactive sexual desire disorder

Hypochondriasis

Hypomanic episode

Hysteria

I

Illness anxiety disorder (Hypochondriasis)

Impostor syndrome

Impulse control disorder

Inhalant use disorder

Insomnia

Intellectual development disorder

Intermittent explosive disorder

Internet gaming disorder

K

Kleptomania

Korsakoff’s syndrome

L

Lacunar amnesia

Language disorder

Learning disorder

M

Major depressive disorder

Major depressive episode

Maladaptive daydreaming

Male erectile disorder

Malingering

Mania

Melancholia

Minor depressive disorder

Misophonia

Mood disorder

Morbid jealousy

Munchausen syndrome

Munchausen by proxy

Mixed episode

N

Narcissistic personality disorder

Narcolepsy

Neurodevelopmental disorder

Neuroleptic-related disorder

Nicotine dependence

Nicotine withdrawal

Night eating syndrome

Nightmare disorder

Non-suicidal self-injury

O

Obsessive-compulsive disorder

Obsessive-compulsive personality disorder

Obsessive love disorder

Oneirophrenia

Onychophagia

Opioid dependence

Opioid use disorder

Oppositional defiant disorder

Orthorexia nervosa

Other specified feeding or eating disorder

P

Pain disorder

Panic attack

Panic disorder

Paranoid personality disorder

Parasomnia

Parkinson’s disease

Partialism

Passive-aggressive personality disorder

Pathological gambling

Pedophilic disorder

Perfectionism

Persecutory delusion

Persistent complex bereavement disorder (Complicated grief disorder)

Persistent depressive disorder (Dysthymia)

Personality disorder

Pervasive developmental disorder

Pervasive developmental disorder not otherwise specified

Phencyclidine-related disorder

Phobic disorder (Phobia)

Phonological disorder (Speech disorder)

Physical abuse

Pica (disorder)

Polysubstance-related disorder

Postpartum depression

Posttraumatic embitterment disorder

Posttraumatic stress disorder

Premature ejaculation

Premenstrual dysphoric disorder

Primary hypersomnia

Provisional tic disorder

Pseudologia fantastica (Pathological lying)

Psychogenic amnesia

Psychoneurotic personality disorder

Psychotic disorder (Psychosis)

Pyromania

R

Reactive attachment disorder

Reading disorder

Recurrent brief depression

Relational disorder

REM sleep behavior disorder

Residual schizophrenia

Restless legs syndrome

Retrograde amnesia

Retts disorder

Rumination syndrome

S

Sadistic personality disorder

Schizoaffective disorder

Schizoid personality disorder

Schizophrenia

Schizophreniform disorder

Schizotypal personality disorder

Seasonal affective disorder

Sedative-, hypnotic-, or anxiolytic-related disorder

Selective mutism

Self-defeating personality disorder

Separation anxiety disorder

Sexual addiction

Sexual fetishism

Sexual masochism disorder

Sexual sadism disorder

Shared psychotic disorder

Sleep disorder

Sleep terror disorder

Sleep paralysis

Sleepwalking disorder

Social anxiety disorder (Social phobia)

Sociopathy (Psychopathy)

Somatic symptom disorder

Somatization disorder

Specific phobia

Stendhal syndrome

Stereotypic movement disorder

Stimulant use disorder

Stockholm syndrome

Stress

Stuttering

Substance dependence

Substance-related disorder

Substance use disorder

Suicidal ideation

Suicide

T

Tardive dyskinesia

Tic disorder

Tobacco use disorder (Nicotine dependence)

Tourette syndrome

Transient global amnesia

Transvestic disorder

Trichotillomania

Truman syndrome

U

Undifferentiated somatoform disorder (Somatic symptom disorder)

V

Vaginismus

Voyeuristic disorder