Stress & Life Insurance
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We understand that going through the process of buying life insurance may sound daunting if you are dealing with stress, but there are a number of options we can look into and we have experienced advisers available to put your mind at ease.
Life insurance for people with stress can be available at standard terms provided that the condition is well controlled.
Things we need to know to get started:
- When were you diagnosed with stress?
- When did you last have symptoms of stress?
- Do you take any medication to treat stress?
- Have you had any time off work because of this?
- Have you seen a counsellor, psychiatrist or community mental health team?
- Have you ever self-harmed?
I know that some of these questions might seem a bit extreme, given that we are talking about stress. With most standard insurers as soon as there is a mention of a mental health condition, they do ask more details, that might seem over the top or intrusive. Our adviser are trained to go through these questions with you in a sensitive manner, and there is no judgement about what you have experienced.
Where there has been a recent change to your stress levels and treatment/medications have been altered, it is possible that the insurer may offer Life Insurance at non-standard terms (small premium increase).
If stress has led you to have episodes of self-harm, hospitalisation and/or psychiatric treatment it is likely that the insurer will want to see a report from your GP to understand the full extent of your condition. This may result in your Life Insurance policy being offered at a higher premium or in some cases declined until a date when your health has stabilised.
Please do not worry if that is the case, as we have some specialist insurers that we can approach for you.
Critical illness cover pays out a cash lump sum of money, if you are diagnosed with a medical condition that is listed in the insurer’s claims set e.g. cancer, heart attack, stroke.
Critical Illness Cover for people with marked stress will likely be underwritten with similar terms to that of Life Insurance.
Critical Illness Cover will probably be available at standard terms if your symptoms are well controlled and there are no recent instances of stronger symptoms e.g. self-harm. If you have been admitted to hospital or self harmed recently then it is likely that we need to look at specific insurance policies, that can support you in the best way.
It is worth noting that if you decide to include Total Permanent Disability within your policy, stress will probably be excluded from this part of the cover.
Income protection pays you a replacement of your monthly income, if you are unable to work due to ill health.
Income Protection for people with recent stress will probably be accepted with an exclusion on any claim that is related to the stress. The insurer that you approach will be particularly interested in any time that you have spent off work in the last few years, and how the stress impacts upon your general state of health.
For short lived stress relating to things like bereavement or stress that occurred a number of years ago, there are some providers who can consider cover without an exclusion.
What is Stress?
Stress is a common condition that occurs when someone is faced with a situation that they feel that they cannot cope with mentally or emotionally. For some stress can be motivational and may trigger a desire to overcome a personal challenge. For others stress can be highly debilitating and cause social withdrawal and difficulty functioning in a work based environment.
Also known as: None
Linked with: Generalised anxiety disorder (GAD), depression, insomnia, high blood pressure, diabetes type 1, diabetes type 2, arthritis, asthma, heart disease, heart attack, stroke, psoriasis, gastro-oesophageal reflux disease (GORD), irritable bowel syndrome (IBS)
Some potential problems experienced by individuals who have stress include:
- Feeling helpless
- Difficulty sleeping
- Loss of appetite
- Chest pain
- Low energy
- Susceptibility to colds and infections
- Stomach complaints
- Rapid heartbeat
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Hi, I can appreciate why you feel that way. Applying for insurance is not often the most enjoyable experience, and there can be a lot of uncertainties when you have a health condition. I have had anxiety for many years and was declined insurance in the past, so I know how it can feel to do these things.
We have a number of options that you can consider. We can try having a chat and if things are too much we can stop. Or I can send you applications to complete yourself. It is a good idea for us to chat at some point, so I can make sure that we are applying for the right insurances for you, we can potentially do this by email for a bit, if you think that work well.
There are ways that we can avoid this. It may be that there are options for your insurances now, that do not need a medical report. By having a chat I will be able to determine if this would be a good option for you.
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Review by Sarah on 26th January 2018
“Cura really helped me out when I got declined life insurance online they really took their time and listened to my needs” - 5
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