October 16, 2020

Arranging Life insurance after a nervous breakdown

Our client

Mrs S, a 53-year-old cleaner, contacted us because she wanted to extend the term of her life cover.  She was worried that she might outlive the remaining term on her existing life policy and did not want to give any of her adult children the financial burden of having to cover the cost of her funeral.

Her existing life insurance plan had been set up 4 years previously, over a term which was to run until her 80th birthday.  Mr S ideally wanted the security of a Whole of Life plan which would guarantee a payout when she passed away (premiums must be kept up to date).

Severe mental distress

Unfortunately, following a family bereavement, Mrs S had suffered a complete nervous breakdown in August 2013.  Although there were no suicidal attempts, she was admitted to hospital for 2 weeks for her own safety.

Mrs S was prescribed anti-depressants, which she stopped taking in March 2014 as she was feeling much better. However, she then began experiencing chest pain, which had been diagnosed as stress-related.  This is an on-going condition but, Mrs S feels that she can manage this condition without further medication or therapy.

Our process and advice

At Future Proof, we have access to specialist insurance companies who don’t deal directly with the public, but can offer more specialised policies, designed to provide cover where other major insurers can’t.

Our research process involves us contacting many insurers to find out the best possible outcome for our clients. This avoids any nasty shocks later on during the underwriting process.

Would the insurer add a ‘loading’ to their standard premium? (this is an additional sum charged on top of their standard monthly premium to reflect their additional risk)

Might they decline the application? We want to avoid wasting time by making applications which may be declined.

We have up to date knowledge of the ever-changing landscape of underwriting for all providers in the UK and are committed to thorough research so that you don’t have to. What’s more, our advice comes at no obligation and with no hidden costs.  You don’t pay us directly but we do get paid by the insurer if you decide to start a policy with them.

Our research

We contacted many Insurance Providers to see whether they would be willing to consider her application.  Most of the companies advised that they would be unable to provide insurance for at least one year, because Mrs S was experiencing on-going symptoms of stress.

An outstanding outcome

However, we found one company which was willing to consider her application.  After obtaining a medical report from our client’s doctor, their underwriters issued standard terms so she was able to obtain the Whole of Life cover she wanted on the same terms as quoted!

Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

All our case studies are based on actual client scenarios, many of which pre-date 2020.  We are confident that the acceptance decision made by the insurers would still be offered, although it is likely that the rates will have changed.  Your own circumstances will determine what amount will be payable and this would be fully discussed with you before any plan is implemented.

Next steps

Whilst you are welcome to get a quote online we would recommend you speak to one of our advisers.

Any quote your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00. Please feel free to read our Independent client reviews, or read about the team at Future Proof

Please feel free to read our Independent client reviews, or read about the team at Future Proof

Call me back

Interested in related stories?

For more information or help:

If you’re feeling like you want to die or want to hurt yourself, it’s important to tell someone.

Help and support are available right now if you need it. You don’t have to struggle with difficult feelings alone.

The Samaritans – for everyone
Call 116 123

Campaign Against Living Miserably (CALM) – for men
Call 0800 58 58 58 – 5 pm to midnight every day

Papyrus – for people under 35
Call 0800 068 41 41 – Monday to Friday 10am to 10pm, weekends 2pm to 10pm, bank holidays 2pm to 5pm
Text 07786 209697

Childline – for children and young people under 19
Call 0800 1111 – the number won’t show up on your phone bill

The Silver Line – for older people
Call 0800 4 70 80 90

Links to third-party websites exist for information only and we accept no responsibility or liability for the information contained on any such sites. The existence of a link to another website does not imply or express endorsement of its provider, products or services by us or St. James’s Place.