WHY INSURERS PERCEIVE NERVOUS BREAKDOWN AS A RISK

A nervous or mental breakdown may result from a range of mental distresses including depression, anxiety, and stress. When presented with such a claim, insurance providers are generally concerned about a possible suicide. This is why a majority of insurers will only payout for the same after a significant period like 12 months. With such cases, there are also issues of appetite problems or drug abuse that may worsen physical health.

GET A PEACE OF MIND WITH LIFE INSURANCE COVER

A breakdown can result from an array of mental health disorders. For this reason, your insurance provider will ask for any:

  • history of diagnosis
  • treatment
  • manifestation of such related problems from addictions to eating disorders.

Others might be extra keen on whether this is your first nervous breakdown and if not, how many episodes have you had and what were the circumstances?

Depending on the information gathered from your medical history, some insurers might dive into more serious issues like the history of mental breakdown or hospital admission due to mental illness.

RATES AND PREMIUMS

Fortunately, a large percentage of people with mental health problems have gotten insurance covers at standard rates. Depending on the information you gave, your provider will calculate your payable premiums based on a few things like prevailing circumstances and treatment plans.

For example, circumstances such as grief may be the main source of a breakdown, which means that the person’s mental health does not pose a high risk. Alternatively, your prospective insurer may ask for higher premiums or even reject your application in case of a history of a mental illness or ongoing medication for the same.

Sadly, the provider holds a right to decline life insurance cover to cases that might need psychiatric intervention or have attempted suicide.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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