Mental illness affects about 25% of people worldwide each year. It can affect anyone from any walk of life. Many with preexisting conditions are afraid that they will not be able to find affordable life insurance, leaving them and their families unprotected. When applying for insurance, many feel embarrassed to admit their mental health issues to the company. But, it is important to be completely open and honest.

Mental illnesses span a broad range of conditions that affect your behaviors in an abnormal way. These can include anything from attention deficit order to clinical depression. Insurers evaluate several different aspects when determining whether to issue a policy. After assessing your medical history and other factors, you are put into one of several categories – Super Preferred, Preferred, Standard, Substandard. If you are in Standard or Substandard, the insurer sees you as the highest risk.

Regarding mental health, the insurance company will put a customer in the Standard/Substandard category if they see the history of multiple prescriptions, history of suicide attempts, drug or alcohol abuse, or hospitalization due to mental illness. If the insurer is provided with information proving that your particular condition is being successfully treated, some will offer lower premiums.

There are certain types of insurance policies that do not require a medical exam such as simplified issue life insurance. Another option would be guaranteed issue life insurance. These policies are for those who are the riskiest to ensure and have lower death benefits with higher premiums, but it offers protection nonetheless.

As with anything you are not familiar with, the best option is to speak with an expert to formulate a proper game plan to get the coverage you and your family need. This way, you can be financially stable and be protected even if you do fall on the risky side of the spectrum.



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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