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in Insurance - 18 Jan, 2019
by Life Insurances Coverage - no comments
Getting life insurance after a mental health problem

 

Mental health conditions are those that threaten the sanity of your mood and general behavior. What’s more, these conditions are often covered by insurance. When people mention cancer life insurance’ or ‘diabetes life insurance’ around you, don’t be surprised. If you are battling your mental health, you should meet a doctor for proper diagnostics. In addition to getting effective treatment, you will find an even greater range of insurance packages for your condition.

What is a pre-existing condition?

After applying for an insurance policy, your insurer will want to understand if you have pre-existing conditions. Whether physical or mental, these are symptoms that are visible at the time of application. Upon providing details of your condition, the insurer will ask for more information that informs the price and insurance package.

Your insurer will need this information

Any insurer will make inquiries about the diagnosis or previously treated mental health conditions, including:

  • Details of your doctor
  • How your condition was or is being treated
  • Date of diagnosis
  • Details of in-patient treatments, if any
  • Symptoms, and the last you experienced them
  • If your condition has warranted that you take time off of work in the past

Some insurers may delve deeper into their inquiries, especially in specific policies. While some may ask you about general health overview in the past five years, others may ask if you’ve ever had mental health conditions.

What if you don’t have a pre-existing condition?

Known as ‘non-disclosure,’ there are times when people will not declare any pre-existing condition during application. If found guilty, the insurer may void your policy and refuse your claims. Compared to the application stage, insurers will examine your medical history to detect any ‘foul play.’ Regardless, the insurer will need your permission to access those records. As in the case of anxiety & depression life insurance, the nature of the package requires unabashed scrutiny and examination.

Possible challenges when finding insurance

Do you have a pre-existing condition, mental or physical? You may encounter some trouble in buying insurance. Some problems you might face include:

  • Extra charges for insurance
  • Refused cover
  • Difficulty in getting cover if your condition hinders your working capacity
  • Insurer’s questions may be uncomfortable

You may get a policy with excludes some claims because of the nature of your condition.

The types of insurance you may get

  1. Car insurance – If you drive a car, this form of insurance may be compulsory. A basic policy provides coverage when you wreck another person’s vehicle while the comprehensive policy includes personal car coverage.
  2. Home insurance – In the event of a disaster, buildings insurance will cover you. Meanwhile, content cover protects both renters and owner-occupiers’ possessions.
  3. Life insurance – This type of insurance becomes vital if you die while the insurance still runs its course, namely cancer life insurance. Even if you commit suicide, life insurance may cover it.
  4. Travel insurance – If you were on holiday and something terrible went wrong, this insurance is for you.

Your mental health condition might align with specific insurance types than others. For instance, you may apply for diabetes life insurance since it may begin to affect your ability to make an income. Know more: https://en.wikipedia.org/wiki/Life_insurance.

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