Can mental health conditions affect life insurance?
How mental health conditions might affect life insurance and where to get help with a life insurance application
What’s a mental health condition?
Mental health conditions affect a person’s emotions, thoughts and behaviour. They include conditions such as depression, anxiety disorders and schizophrenia. Mental health conditions can impact a person’s social, work and family life and can affect anyone regardless of age, gender, race or social economic status. The NHS estimates that one in four people in the UK experience a mental health condition.*
If you’re going through a tough time, Samaritans are there to listen. You can call them free, day or night, on 116 123 or email jo@samaritans.org.
You can also reach out to your GP and seek professional help.
* NHS England Mental health contains public sector information licensed under the Open Government Licence v3.0.
Can I get life insurance if I have a mental health condition?
Life insurance is a type of insurance policy that pays out a lump sum if you die during the policy term. Life insurance policies generally have no cash in value.
Having a pre-existing physical or mental health condition doesn’t necessarily mean you can’t get life insurance. Unfortunately, it can mean that an insurer charges you a higher premium (the amount you pay upfront to take out the insurance policy) or, if your condition is very severe, that the insurer isn’t able to cover you at all. Even if that happens, you may still be able to get insurance from another provider.
It’s important to compare insurers and find out how their application processes might affect you. You may also want to get advice and support from a financial adviser. If you don't have a financial adviser, you can find one at unbiased.co.uk. Please be aware that you may need to pay for this advice.
What information will I need to give the insurer about my mental health?
When you apply, the insurer will ask you a series of health-related questions, including questions about your mental health. These questions are part of the underwriting process, used to assess your level of risk and how likely you are to make a claim. Citizens Advice provides further helpful information about making a claim on their website.
If you have a mental health condition when you apply for life insurance, depending on how severe your condition is, your insurer might ask for more information from your GP or another health care provider who knows about your mental health.
Will I be protected from discrimination if I disclose experiencing a mental health condition?
The UK Equality Act of 2010 aims to protect you from discrimination on mental health grounds when applying for life insurance. However, it can’t stop insurers using details about your health to make decisions about your cover.
It’s important to remember the insurer must use solid evidence about your condition when deciding whether to offer you insurance or how much to charge you. If you’re applying for life insurance with a mental health condition, take the time to understand your rights. The charity Mind provides further helpful information about understanding your rights on their website.
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