IS IT POSSIBLE TO GET LIFE COVER IF YOU SUFFER FROM MENTAL ILLNESS?
This week is mental health awareness week, with a particular focus on ‘stress and how we cope.’ We at John Lamb Insurance Broking are experts in obtaining excellent terms on those who have a history of mental illness.
Recent surveys show that up to 66% of people in the UK felt that they had suffered from some form of mental illness, with it being particularly common in those aged between 16 and 40. Less positive coping strategies involve 46% admitting to eating too much or more unhealthily, 29% started drinking alcohol or increasing their alcohol intake with 16% starting smoking or increasing their smoking habit.
How do these frightening numbers impact the ability of our clients to obtain life only insurance? You will be glad to know that more than 97% of cases can be taken out with no impact on premiums.
Case Study
A recent case that we successfully broked involved the following details;
– Male, age 35
– Non smoker
– Occupation, City Commodity Trader
– Medical History – Chronic anxiety with occasional depression for 3 years.
– Depression exacerbated by work stress.
– Otherwise fit
Owing to our special relationships with the insurers we managed to obtain normal rates for life cover for this individual.
If you or a client have been impacted by mental illness and are looking for cover please do not hesitate to contact us to find more about how we can help.
Other Insights
John Lamb Hill Oldridge is proud to support St Christopher’s Dinner at Goldsmiths’ Hall
We’re proud to continue our long history of supporting St Christopher's Hospice. They are more than a local hospice. They exist to promote and provide skilled and compassionate palliative care of the highest quality. St Christopher’s [...]
‘The impact of Consumer Duty on legacy life insurance policies’ by Paula Steele published in FTAdviser
The 31st July has come and gone and we are now in the new (or not so new) world of Consumer Duty on legacy products. John Lamb Hill Oldridge is a specialist life insurance broker [...]
John Lamb Hill Oldridge celebrates 65-year anniversary with a partners’ dinner
This year, John Lamb Hill Oldridge celebrates its 65th anniversary. As part of the celebrations, the company held a partners’ dinner on Tuesday 1st October. The event was held at Wild by Tart in Belgravia, [...]