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
‘How do advisers address the complex needs of HNW clients?’ by Holly Hill published in Professional Adviser
In this article for Professional Adviser, Holly Hill explore how advisers can best serve the high net worth community and deal with their complex needs. There are a number of additional things to consider when [...]
‘Land Succession for the NextGen: Land and Estate Disputes’ webinar with Paula Steele by ThoughtLeaders4
Webinar organised by Thought Leaders 4 Private Client. In this session, we explored strategies to safeguard a family’s legacy and navigating complex land and estate disputes. The panellists covered points on: Succession issues on land [...]
Interview with Holly Hill for Citywealth
What does a typical day look like for you? I spend a lot of my days out and about in the city talking to other professionals or meeting clients. Sometimes I even find myself on Harley [...]
