Stress life insurance
The current pressures that we feel at work and at home can cause problems with mental health. Stress is one of the most common medical problems amongst people around the world in today’s society.
If you’ve experienced issues with stress and you need to get life cover to protect your family, then this guide will help to explain how it works.
Stress facts and figures UK
According to a 2018 study from the Mental Health Foundation, nearly 75% of people were so stressed that they felt unable to cope. Just over half (51%) of adults who were stressed also felt depressed and 61% felt anxious.
There is a common link between stress and our physical health in adults.
According to The Priory Group:
- 1 in 14 people claim to feel stressed every day
- 32% of UK adults have experienced suicidal thoughts as a result of stress
- 51% of people experiencing stress also reported feeling depressed
- 61% of people experiencing stress also reported feeling anxious
Learn more – Guide to mental health conditions and life cover
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by Elizabeth Turner-Long - 9th August 2023
Stress and life insurance
Here are the answers to some questions that you might have about stress and what effect it has on life cover.
Does life insurance payout for stress?
Stress isn’t considered to be fatal or life-threatening, however, in extreme cases, it can lead to death, unfortunately. There are links between stress and cardiovascular problems due to changes in heart rate and rhythm over time, for example.
If you die due to stress or a stress-related problem, then your existing life insurance should pay out to your family.
You should always check the terms and conditions of any existing cover fairly regularly, or speak to an adviser if you’re unsure. However, most standard life insurance policies will cover mental health problems or even suicide.
Does critical illness cover payout for stress?
In most cases, mental health won’t be covered by a standard critical illness cover policy. This is normal and mainly because this type of cover is for serious illnesses such as cancer, heart attack, or stroke.
There are certain mental health-related issues and conditions linked to stress that may be covered, such as:
- Heart attack
- Heart failure
- Alzheimer’s disease
It is important to understand that this type of policy is not specifically designed for mental health, however, it does offer extremely comprehensive cover.
Can you claim on income protection for stress?
Generally, you will be able to claim for stress on an existing income protection policy. The only reason why you might not be able to claim is if you’ve been treated for stress or mental health in the past.
You should be able to find out whether you are covered for stress-related absences by speaking to your insurer. You can also contact an advisor or expert to ask them about this if you’re unsure.
Most income protection policies will allow you to claim for up to 12 or 24 months of continual absence.
There are plenty of options for people looking for income protection for stress so it is best to contact us to find out more.
Can I get life insurance after stress?
YES – stress isn’t considered to be a serious health problem for life insurance in most cases. If you’ve suffered from mild to moderate symptoms with no other health problems, then you should be able to get cover instantly.
There are a few reasons why you might need to seek the advice of an expert when looking for life insurance with stress.
- Other health problems (e.g. high blood pressure, high cholesterol, cardiovascular problems, or other health issues)
- Extreme stress
- Mental health issues (e.g. self-harm, suicidal thoughts, or attempts)
You’ll be asked some questions about your mental health when you apply for life insurance, such as:
- Apart from regular appointments, are you awaiting, or have you been advised to see a specialist?
- When did you first have symptoms?
- Have you ever tried to take your own life, had thoughts about taking your own life, intentionally harmed yourself, or had thoughts about harming yourself?
- When did you last have symptoms?
- In the last 5 years have you seen a specialist, psychologist, or therapist?
Will I need a medical for stress life insurance?
In some circumstances, you might find that your insurer requires you to have a nurse screening, or will request to view medical records.
This is absolutely normal and certainly not a problem so you are not being singled out because of your health. There are many reasons why you might be asked to provide further medical information, such as:
- Financial limits
- Your age
- Other health problems
- Previous applications
Best life insurance for stress
There are several options when it comes to life insurance and a variety of types of cover available to you. The most important thing is to figure out what is important to you and your family, or what you want to protect.
Term life insurance for stress (family protection) is the most popular type of life cover, and the easiest to get in many cases. This type of policy is specifically designed to protect your family if you die and can provide financial security in the future for them.
Mortgage life insurance for stress (decreasing term) is very similar to family protection, but it is specifically designed to protect your mortgage. This type of policy will reduce at the same rate as your mortgage balance (capital and repayment mortgage only).
Critical illness cover for stress is often available from most of the top insurance brands. The only reason that you might have difficulty in getting this type of cover is if you’re still receiving treatment, or if you’re awaiting investigations.
Income protection for stress is one of the most popular (and it’s probably the most useful type of cover) for this condition. If you can get cover before you have any problems then you’ll be protected from loss of income in the future for stress-related issues.
Whole of life insurance for stress is another type of standard life insurance and can be used for specific needs (e.g. Inheritance tax planning, or legacy planning). You might find that this type of cover has higher premiums, which is because the payout is guaranteed.
Common conditions linked to stress
Here are some of the most common medical disclosures that are linked to or connected with stress:
Stress can come in many forms and can affect different people in different ways, so your situation may be unique to you. It’s important not to worry and make sure that you get the best advice from an expert.
Common questions about stress
Here are just a few examples of some of the most common questions that people ask about stress or stress-related illness.
|What are the most common signs of stress?||There are several physical, emotional, behavioural signs of stress that you might experience:|
Aching joints and pains in the body
Headaches, dizziness, or trembling
Raised blood pressure
|What can stress do to your body?||Chronic stress can affect almost every part of your body and every system. |
Common problems can include lower resistance to your immune system, problems with your digestive system, reproductive issues, and even increased risks of heart attack or stroke.
|How can I stop feeling stressed?||There are several ways to reduce your feeling of stress and some of the most popular examples are:|
3. Less caffeine
4. Chewing gum
5. See friends and family
7. Say no
8. Avoid procrastination
9. Yoga or mindfulness
10. Breathing exercises
|Can stress kill you?||Stress is not fatal or life-threatening but it can lead to other health problems that can be serious. |
It is important to control any feeling of stress and see your GP if you feel that you can’t cope.
Here are some examples of stress-related links that we have found that you may find useful or will provide you with more information.