Schizophrenia Life Insurance Overview

Mental conditions that affect your normal way of thinking and behavior are classified as Mental illness.

Some of these conditions are schizophrenia, bipolar disorder, and dementia. When taking a life insurance cover for a person with these conditions premiums are found to be higher. You will be required to provide the insurer with medical records when applying for policies.

When applying this insurance cover may fall under the following classes

  • Super preferred
  • Preferred
  • Standard
  • Substandard

The last two mean that there is more risk bourn by the insurer. You will probably pay higher premiums or even be denied the policy by the insurer if you are a huge risk to them.

The first two means lesser risk to the insurer which is affordable and easier to get coverage

How your mental health will affect your insurance

Insurers often assess your case to see if you are a huge risk to them. They research the type of medication you are taking to be able to measure the severity of your case. In cases of schizophrenia, it is challenging to get covered. It is dependent on your medical records.

  • Factors that may render you more of a risk to insure
  • Being on multiple medications
  • Having cases of past suicide attempts
  • Hospitalization

People with cases of suicide attempts will find difficulty in finding coverage. If your condition is not serious or under control an insurer could consider you with lower premium rates.

Final thoughts

Your medical records have in them the ability to deny your insurance especially if you have suicide attempt records. Some records will put you in a tight spot when looking for coverage. Insurers will consider people who are not a huge risk to them. This determined based on your records. Control is very crucial.

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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